U.S. House shifts $16 bln toward renewable energy

(Reuters) - The 786-page bill, passed in a rare Saturday vote, was a top priority for House Speaker Nancy Pelosi, and is an amalgam of bills assembled by about a dozen of the chamber's committees in recent months.




Republicans called it a "no-energy bill" because it lacks new drilling incentives, and they derided the new emphasis on renewables as "green pork." The White House threatened to veto the bill on concerns that it could boost energy prices.


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Barclays' ABN offer period runs until Oct 4: filing

(Reuters) - The RBS-led consortium's offer is worth 71 billion euros
and 93 percent in cash, while Barclays
65-billion-euros offer is about 38 percent in cash.




ABN shareholders can tender shares under the Barclays offer
from August 7 until October 4, Barclays said in a filing to
U.S. regulator the Securities and Exchange Commission late on
Friday.


Read more at Reuters.com Mergers News

Dollar Falls Versus Yen, Euro on Outlook for Lower U.S. Rates by Year-End

(Bloomberg) -- The dollar fell versus the yen, pound
and euro on speculation a worsening outlook for U.S. growth may
prompt the Federal Reserve to cut borrowing costs by year-end.

The U.S. currency declined to near a record low against the
euro yesterday as reports showed slowdowns in payroll growth and
service industries. The European Central Bank on Aug. 2 signaled
it may raise its interest rate in September. The Fed is forecast
to hold the U.S. lending rate at 5.25 percent on Aug. 7.


Read more at Bloomberg Currencies News

Oil tumbles below $76 on US economic data

(Reuters) - Oil tumbled below $76 a barrel on Friday, dragged down as poor U.S. economic data helped send stock markets down again.

U.S. oil CLc1> settled down $1.38 at $75.48 a barrel, after hitting a record $78.77 on Wednesday. London Brent LCOc1> gave up $1.01 to settle at $74.75.


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Soybean, Corn Futures Rise After Forecasts for Dry Weather, Lower Yields

(Bloomberg) -- Soybean and corn futures rose in
Chicago on forecasts for hot, dry weather in Iowa and Illinois,
the U.S.'s two biggest growing states, and a prediction corn
yields will fall.

Forecasters in Europe and the U.S. expect a subtropical
weather system to move into the eastern Midwest next week,
Woburn, Massachusetts-based Meteorlogix LLC said. A European
model predicts the system will bring hotter, drier weather. The
American model shows rains only in the northern Great Plains.


Read more at Bloomberg Commodities News

Wall St Week Ahead: Subprime worries to spur more volatility

(Reuters) - Widening fallout from the U.S. housing slump has rattled
credit markets, putting investors on edge about the outlook
for corporate takeovers and share buybacks -- two catalysts of
the market's recent rally to record highs.




On Friday, Standard & Poor's cut its ratings outlook on
the debt of investment bank Bear Stearns Cos., fanning
concern that troubles in the subprime mortgage market are
spreading, which could threaten the economy's health.


Read more at Reuters.com Economic News

Tenaris 2nd-quarter net profit rises 8 pct yr/yr

(Reuters) - Luxembourg-based Tenaris is
controlled by Argentine conglomerate Techint, and its shares
are listed in Buenos Aires, Milan and New York.




Read more at Reuters.com Market News