Swedish Krona Gains on Signs Growth Is Quickening, Interest Rate Outlook

(Bloomberg) -- Sweden's krona rose on expectations
faster economic growth and further interest-rate increases will
make the Nordic currency more attractive to investors.

The Stockholm-based Riksbank, Sweden's central bank, said in
June it will probably lift its benchmark rate twice more this
year bringing it to 4 percent. Gross domestic product growth
quickened to an annual 3.6 percent in the second quarter from 3
percent in the first, the statistics office said last week.


Read more at Bloomberg Currencies News

Stocks Retreat in Europe; UBS, BNP, Philips, BHP, Lafarge Lead the Drop

(Bloomberg) -- European stocks fell, following
declines in Asia and the U.S., on mounting concern that losses in
the U.S. mortgage market will erode economic growth and raise
financing costs for companies.

UBS AG and BNP Paribas SA led a drop by financial shares.
Royal Philips Electronics NV and Lafarge SA decreased as the
dollar traded near a record low against the euro. BHP Billiton
Ltd. and Rio Tinto Group slipped after copper fell in Shanghai.


Read more at Bloomberg Stocks News

U.S. wants OPEC to pump more oil as inventories fall

(Reuters) - "I'm concerned that we probably are going to need more oil and I'm hopeful that the OPEC ministers at their meeting in about a month from now will agree to that," Bodman said in an interview on




CNBC.


Read more at Reuters.com Hot Stocks News

Fortis wins backing for ABN buy in Brussels

(Reuters) - Fortis is holding the shareholder meetings to secure backing
for its part of a 71 billion euro joint bid for ABN AMRO with
Royal Bank of Scotland and Spain's Santander .




Read more at Reuters.com Mergers News

Sappi Has Third-Quarter Profit on Higher Paper Prices in Europe, Exports

(Bloomberg) -- Sappi Ltd., the world's largest maker
of glossy paper, posted a fiscal third-quarter profit after
raising prices in Europe and lifting exports.

Net income was $53 million, or 23 cents a share, in the
three months through June, compared with a $53 million loss a
year earlier, Johannesburg-based Sappi said in a stock exchange
statement today. Sales gained 6.8 percent to $1.3 billion.


Read more at Bloomberg Emerging Markets News

Germany's DAX Index Falls, Paced by Deutshe Bank, DaimlerChrysler Shares

(Bloomberg) -- German stocks dropped for a second
day, led by Deutsche Bank AG after Merrill Lynch & Co. cut its
price estimate on shares of the country's biggest bank.

Allianz SE and Hypo Real Estate Holding AG paced losses by
financial shares. DaimlerChrysler AG, the world's fifth-largest
carmaker, also declined.


Read more at Bloomberg Stocks News

Munich Re -maximum subprime loss around 100 mln eur

(Reuters) - A slide presentation showed that about 600 million euros of
the company's 179 billion euros of invested assets were exposed
to the subprime market, or about 0.33 percent of the total.




Read more at Reuters.com Market News

French Stocks Decline; Axa and Credit Agricole Retreat as Natixis Jumps

(Bloomberg) -- French stocks declined for a
third day in four. Financial companies including Axa SA and
Credit Agricole SA led the retreat.

The benchmark CAC 40 Index dropped 49.23, or 0.9
percent, to 5548.66 as of 10:05 a.m. in Paris, leaving the
measure little changed so far this year. The SBF 120 Index
fell 0.8 percent to 4051.79.


Read more at Bloomberg Stocks News

Dollar hits 15-year low vs basket of currencies

(Reuters) - The dollar fell to a 15-year low against a basket of currencies on Monday, as speculation mounted in financial markets that rising credit market risk and softening U.S. data will force a cut in U.S. interest rates.

The dollar index fell below the psychologically key 80.0 level, while the euro rose to within sight of its record high above $1.3850 struck two weeks ago.


Read more at Reuters Africa

FTSE 100 Drops, Wiping Out Advance for Year, Led by Northern Rock, Invesco

(Bloomberg) -- U.K. stocks fell for a second day,
wiping out the benchmark FTSE 100 Index's gains for 2007.
Financial companies including Northern Rock Plc, a mortgage
lender, and Invesco Plc, a money manager, led the retreat.

The FTSE 100 Index declined 24.40, or 0.4 percent, to
6199.90 at 8:40 a.m. in London, for a loss this year of 0.3
percent. The FTSE All-Share Index slipped 14.18, or 0.4 percent,
to 3209.66. Ireland's ISEQ Index dropped 157.91, or 1.8 percent,
to 8437.32.


Read more at Bloomberg Stocks News

Munich Re says subprime exposure 600 mln eur

(Reuters) - Of Munich Re's subprime investments, about 42 percent is
rated "AAA," 37 percent is rated "AA," 12 percent is rated "BBB"
and 1 percent is sub-investment grade, the company said.




Read more at Reuters.com Bonds News

Pound Falls Against Euro as Traders Reduce Bets on Interest-Rate Increases

(Bloomberg) -- The pound declined against the euro as
investors cut expectations the Bank of England will raise
interest rates this year for a sixth time.

Traders are betting on one more rate increase on signs
borrowing costs at a six-year high are beginning to slow the
economy. The European Central Bank, by contrast, will raise rates
at least twice more, futures trading shows. Economists predict
U.K. industrial production almost stalled in June, adding to
signs the economy may be losing momentum.


Read more at Bloomberg Currencies News

U.K. Shares Drop for a Second Day; Northern Rock, Rolls-Royce Pace Retreat

(Bloomberg) -- U.K. stocks fell for a second day.
Northern Rock Plc, a mortgage lender, and Rolls-Royce Group Plc,
the world's second-biggest aircraft-engine maker, led the
retreat.

The FTSE 100 Index declined 56.2, or 0.9 percent, to 6168.1
at 8:04 a.m. in London.


Read more at Bloomberg Stocks News

Spain's Abengoa says buys Brazil's Dedini Agro

(Reuters) - Abengoa will assume an additional 281 million euros of debt,
it said, adding it was now the world's only bio-ethanol producer
present in the three biggest markets: Brazil, Europe and the
United States.




As of a year ago, Dedini Agro was Brazil's 16th largest
ethanol producer with around 0.4 percent of national output.


Read more at Reuters.com Mergers News

Wal-Mart, India Bharti set to announce India deal

(Reuters) - "Today's press conference is to announce a joint venture with Wal-Mart for cash-and-carry," a spokesman for Bharti Enterprises said.




A spokeswoman for Wal-Mart said a senior official from Wal-Mart and the head of Bharti Retail Ltd., Rajan Mittal, would address the media.


Read more at Reuters.com Business News

European Government Bonds Advance as Asian Stocks Slide on Subprime Losses

(Bloomberg) -- European government bonds rose for a
second day as Asian stocks slid on concern U.S. subprime mortgage
losses will slow economic growth and drive up global financing
costs.

Gains in bunds pushed benchmark 10-year yields to near the
lowest since May as investors sold riskier assets and sought the
relative safety of government debt. Bear Stearns Cos. ousted Co-
President Warren Spector after credit-market losses and eroding
investor confidence.


Read more at Bloomberg Bonds News

UPDATE 1-Buyout group owns 99.54 pct of Endemol after offer

(Reuters) - The group, called Edam Acquisition said in a statement 99.54
percent of Endemol shares have been tendered or committed.




It bought 75 percent of Endemol shares from Spanish telecoms
group Telefonica for 2.63 billion euros
last month and about 6 percent of shares from a Cyrte investment
fund.


Read more at Reuters.com Mergers News

U.S. worries pressure Asian stocks, dollar

(Reuters) - The negative trend is expected to spread to Europe where financial bookmakers are calling for major markets to open around 1 percent lower.




Heightened concerns for economic growth knocked oil prices, which briefly dipped below $74.50, and dragged Shanghai copper futures down 3 percent, but flight to safety helped gold stay near one-week highs and held the benchmark U.S. 10-year Treasury yield near 2-½ month lows.


Read more at Reuters.com Hot Stocks News

Shanghai copper tumbles 3 percent on risk worries

(Reuters) - Shanghai copper futures fell 3 percent on Monday, following losses in London and jitters in equity and other commodities markets on concerns about the U.S. economy.

Confidence in global markets, including commodities and equities, has been seriously dented by the continuing crisis in the U.S. subprime mortgage sector.


Read more at Reuters Africa

Oil extends decline, falls 1 pct on poor US data

(Reuters) - Oil fell more than 1 percent to about $74 a barrel on Monday, extending the previous session's decline which saw prices dragged down by poor U.S. economic data.

U.S. crude, which slid as much as 91 cents, or 1.2 percent in early trade, reversed some losses and was down 59 cents at $74.89 a barrel by 0558 GMT.


Read more at Reuters Africa

Wal-Mart, India Bharti to hold news conference

(Reuters) - NDTV Profit television said Bharti Enterprises chief Sunil
Mittal said 8 joint stores had been finalised, with the first
store formats to be cash-and-carry.




Earlier this year, Bharti and Wal-Mart agreed to form a
joint venture for cash-and-carry stores and back-end operations
in India.


Read more at Reuters.com Mergers News

Malaysia's Sarawak State Plans to Build $900 Million Pulp Mill, People Say

(Bloomberg) -- Malaysia, the biggest exporter of
tropical timber, is planning a $900 million pulp mill in Sarawak
state to take advantage of rising prices and increasing local
power supply, according to two people familiar with the matter.

The mill, to be developed by Sarawak's state government,
will have capacity to produce at least 700,000 metric tons a
year, according to the people, who declined to be named before
an official announcement. The project may cost $700 million to
$900 million and be fed by Acacia Mangium hardwood trees from a
state-owned plantation.


Read more at Bloomberg Emerging Markets News

Gold off 1-week high, Tokyo dips on firmer yen

(Reuters) - Gold dipped in profit taking on Monday after touching a one-week high last week, while Tokyo futures fell on a firmer yen.

Spot gold fell to $671.90/672.40 an ounce at 0320 GMT, from $674.10/674.90 late in New York on Friday, when it hit its highest in a week at $674.20 an ounce as the dollar weakened on lower-than-expected U.S. data on jobs growth.


Read more at Reuters Africa

Buyout `Freeze' Shuts Wall Street Pipeline; $1.3 Billion of Fees Dries Up

(Bloomberg) -- While investment bankers feasted on an
unprecedented $8.4 billion of fees for arranging leveraged
buyouts in the first half, the rest of the year may prove to be a
famine.

``It's impossible to conclude that it's not going to be a
tougher time for Wall Street,'' said Steven Rattner, co-founder
of New York-based buyout firm Quadrangle Group and former vice
chairman of Lazard Freres & Co. ``There's going to be an impact
on revenues and profits.''


Read more at Bloomberg Bonds News

Corn, Soybeans May Extend Gains in Chicago as Dry Weather Hurts U.S. Crops

(Bloomberg) -- Corn and soybeans may rally in
Chicago on speculation dry weather in Midwest states including
Iowa and Illinois will limit production gains in the U.S., the
world's largest grower of both crops.

Nineteen of 23 traders, farm advisers and merchants
surveyed Aug. 3 recommended buying corn, and 17 said to buy
soybeans. Corn futures jumped 6.5 cents, or 1.9 percent, to $3.43
a bushel last week on the Chicago Board of Trade, and soybeans
rose 20.5 cents, or 2.4 percent, to $8.61 a bushel.


Read more at Bloomberg Commodities News

UPDATE 1-Barclays launches $89 bln ABN takeover offer

(Reuters) - The offer period will run from August 7 until October 4,
Barclays said in an offer memorandum published in Dutch
newspapers on Monday.




At current share prices and foreign exchange rates, the
Barclays offer is worth about 34.54 euros per share of ABN.


Read more at Reuters.com Mergers News

Berkshire, Diebold, Jones Apparel, Rowan, Paychex: U.S. Stock Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Berkshire Hathaway Inc. (BRK/A US): The investment company
run by billionaire investor Warren Buffett said second-quarter
profit from continuing operations increased to $1,625 a share,
helped by gains from insurance and investments. The result topped
the $1,436 estimate of Charles Gates, an analyst at Credit
Suisse. The stock fell $100 to $109,900 in regular trading.


Read more at Bloomberg Stocks News

Continental, Munich Re, Allianz, IKB, DaimlerChrysler: German Preview

(Bloomberg) -- The following stocks may rise or fall
on German markets. Stock symbols are in parentheses after the
company names and prices are from the Xetra close unless
otherwise stated.

DAX futures expiring in September fell 1.3 percent to 7474.5
in Frankfurt. The DAX retreated 98.46, or 1.3 percent, to 7435.67
on the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Treasuries Little Changed on Signs of Slowing Expansion, Decline in Stocks

(Bloomberg) -- Treasuries were little changed as
Asian stocks slid and speculation increased that losses tied to
subprime mortgages will prompt the Federal Reserve to cut
interest rates this year.

Ten-year notes may extend their gains into a fifth week
after reports showed employers added fewer jobs than expected
last month and bond investors are becoming less bearish.
Treasuries are on track to return 5.3 percent this year, the
most since 2002, according to a Merrill Lynch & Co. index.


Read more at Bloomberg Bonds News

Asian Currencies Decline on Speculation Investors to Cut Regional Holdings

(Bloomberg) -- Asian currencies declined, led by the
Indonesian rupiah and Philippine peso, on speculation investors
are cutting holdings in the region as signs mount that the U.S.
economy is slowing.

The rupiah fell to a one-year low and the South Korean won
slipped to its weakest in a month, joining declines in stocks, as
reports on Aug. 3 showed U.S. employers added fewer jobs in July
and service industries growth slowed. The U.S. is the second-
biggest buyer of Indonesia's and South Korean exports.


Read more at Bloomberg Currencies News

Chinese Government Hasn't Decided on $40 Billion Agricultural Bank Bailout

(Bloomberg) -- Central Huijin Investment Co., a
government investment arm, said it hasn't decided on the bailout
of Agricultural Bank of China, weakest of the four-biggest
state-owned banks, according to a senior official.

Beijing-based Agricultural Bank may receive a $40 billion
capital injection from Huijin, the Economic Observer newspaper
reported today, without citing anyone.


Read more at Bloomberg Emerging Markets News

Union says reaches tentative contract with Delphi

(Reuters) - Delphi, which filed for bankruptcy in October 2005,
previously reached agreement with its biggest union, the United
Auto workers. Delphi has said it hopes to file a reorganization
plan in the third quarter and exit bankruptcy by the end of
2007.




Read more at Reuters.com Bonds News

Nippon Yusen Pays Nippon Oil Record Price for Fuel Oil Delivered in July

(Bloomberg) -- Nippon Yusen K.K., Japan's largest
shipping line, agreed to pay Nippon Oil Corp. a record price for
fuel oil delivered in July.

Nippon Yusen will pay $419.2 a metric ton for 180-centistoke
C-grade fuel oil loaded last month, the company said today in a
statement e-mailed in Tokyo. That's an increase of 8.1 percent,
or $31.5 a ton, from the amount paid in June. Prices for so-
called bunker fuel for ships are set retroactively.


Read more at Bloomberg Energy News

Vietnam's June Reserve Increase Will Be Last for Now, Policy Maker Says

(Bloomberg) -- Vietnam's recent increase in bank
reserves will be the last for now as the government assesses the
effect on inflation, said the policy maker in charge of banking.

Any perceived reluctance to quell the fastest inflation in
17 months is likely to deter overseas investors from buying
Vietnam's stocks and bonds. The threat of inflation ``calls for
action'' by the central bank to reduce the amount of money in the
banking system, HSBC Holdings Plc said in research last week.


Read more at Bloomberg Bonds News

Symbion says expert backs Healthscope bid

(Reuters) - The forecasts were included in a stock exchange filing on the takeover deal. The filing also included a report from independent expert Ernst & Young, which concluded that the proposed takeover was in the best interests of Symbion shareholders.




Symbion accepted a sweetened offer from Healthscope and its partners, Ironbridge Capital and Archer Capital, in June.


Read more at Reuters.com Business News

Singapore Dollar to Rise 10 Percent to Record $1.38, BNP Paribas Predicts

(Bloomberg) -- The Singapore dollar may rise 10
percent to a record in a year as an influx of tourists and
bankers supports economic growth, BNP Paribas SA said.

The currency may reach S$1.38 per dollar by June 30, passing
the record of S$1.3835 reached in 1995, as the Monetary Authority
of Singapore seeks gains to curb inflation, said Thio Chin Loo,
senior foreign-exchange strategist in Singapore at France's
largest bank by market value.


Read more at Bloomberg Currencies News

Bear Stearns Ousts Co-President Warren Spector After Hedge-Fund Losses

(Bloomberg) -- Bear Stearns Cos. ousted Co-President
Warren Spector after credit-market losses and eroding investor
confidence increased pressure for management changes at the
second-largest underwriter of securities tied to the slumping
U.S. housing market.

The board of the nation's fifth-biggest securities firm
agreed today that Alan D. Schwartz, 57, will become sole
president, the company said in a statement. Spector, 49, was
responsible for fixed income and asset management and was viewed
by analysts as the top candidate to succeed 73-year-old Chief
Executive Officer James E. Cayne.


Read more at Bloomberg Bonds News

Japan's Shares Drop on U.S. Economy Concern, Stronger Yen; Sony Leads Fall

(Bloomberg) -- Japanese stocks declined, led by Sony
Corp. and Canon Inc., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.


Read more at Bloomberg Stocks News

Singapore Petroleum Enters Oil, Gas Exploring Venture With China National

(Bloomberg) -- Singapore Petroleum Co., the only oil
refiner traded on the city state's stock exchange, will explore
for oil and gas with China National Offshore Oil Corp. in its
first venture off the Chinese coast.

Singapore Petroleum will operate and own 100 percent of
Block 26/18 in the Pearl River Mouth Basin in the South China Sea,
while China National has the right to take a stake of as much as
51 percent should a discovery be made, the Singapore company said
today in a statement.


Read more at Bloomberg Energy News

Japan's Stocks Drop on U.S. Economy Concern, Stronger Yen; Sony Leads Fall

(Bloomberg) -- Japanese stocks declined, led by Canon
Inc. and Sony Corp., on concern losses in the U.S. mortgage
market may slow the world's biggest economy.

Exporters also fell after the yen strengthened to a four-
month high against the dollar, eroding the value of their dollar-
denominated sales.


Read more at Bloomberg Stocks News

Samsung Electronics, Exporters, Oil-Dependents: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the previous close. This preview
includes news announced after markets shut yesterday. Stock
symbols are in brackets after the company names.

The Kospi index rose 1.3 percent to 1,876.80. The Kosdaq rose
1.6 percent to 798.86. Kospi 200 futures expiring in September
increased 1 percent to 236.00, while the underlying index rose 1.3
percent to 236.91.


Read more at Bloomberg Stocks News

New Zealand Dollar Falls a Second Day; Housing Woes Spur Carry Trade Exit

(Bloomberg) -- The New Zealand dollar declined for a
second day as concerns U.S. subprime mortgage losses will slow
global growth deterred traders from buying riskier investments.

So called carry trades, where investors borrow cheaply in
yen to buy higher-yielding assets elsewhere, have seen New
Zealand's dollar gain 25 percent against Japan's currency in the
past year. U.S. stocks dropped Aug. 3 after Samuel Molinaro,
chief financial officer at Bear Stearns Cos. called the current
crisis in fixed-income the worst ever.


Read more at Bloomberg Currencies News

Philippine Inflation Probably Stayed Close to Seven-Year Low on Currency

(Bloomberg) -- Philippine inflation probably rose in
July. Still, the pace was close to the slowest in 7 1/2 years as
gains in the peso against the dollar lowered the price of
imports, including oil.

Consumer prices increased 2.4 percent from a year earlier,
according to the median estimate of 14 economists surveyed by
Bloomberg News. Inflation was 2.3 percent in June after rising
in the previous two months from 2.2 percent, the lowest level
since January 2000. The National Statistics Office report is due
tomorrow at 9 a.m. in Manila.


Read more at Bloomberg Currencies News

2008 sports events could benefit Adidas: Barron's

(Reuters) - Adidas should also benefit from British soccer star David Beckham's move to the United States. If Beckham does well for his new team, the Los Angeles Galaxy, Adidas sales in the United States could climb, Barron's said.







Read more at Reuters.com Business News

New Zealand Dollar May Fall as Housing Woes Spur Exit From Risky Bets

(Bloomberg) -- The New Zealand dollar may decline
today as concerns return about the U.S. subprime mortgage market,
deterring traders from riskier investments such as the carry
trade.

The trade, where investors borrow cheaply in yen to invest
in higher-yielding assets elsewhere, has seen the currency gain
25 percent against the yen in the past year, with investors
lured to the nation's record 8.25 percent benchmark rate. U.S.
stocks dropped Aug. 4 after Samuel Molinaro, chief financial
officer at Bear Stearns Cos. called the current crisis in fixed-
income the worst ever.


Read more at Bloomberg Currencies News

Bear Stearns co-president Spector resigns - WSJ

(Reuters) - Citing a person familiar with the matter, the Journal said directors agreed that Alan D. Schwartz will for now be sole president of Bear.




The article also said that Samuel Molinaro, the firm's longtime chief financial officer, will assume the role of chief operating officer and that Jeffrey Mayer, co-head of fixed income, will take Spector's seat on the executive committee.


Read more at Reuters.com Bonds News

ACA Capital shares could fall on subprime: Barron's

(Reuters) - Should the U.S. subprime troubles prove to be systemic across different geographies, then not only would shares be hammered, but the company could be toast, Barron's said.




If ACA buckles under, Wall Street firms whose securities the company insured would also be hurt. The $61 billion of ACA's insured exposure would come cascading back to balance sheets of the likes of Bear Stearns , Merrill Lynch , Lehman Brothers , and Citigroup along with some 25 other Wall Street counterparties, Barron's said.


Read more at Reuters.com Bonds News

UPDATE 1-IKB owner plays down talk of higher subprime losses

(Reuters) - Responding to an article claiming that the losses could
mount to 5 billion euros, government-owned lender KfW told
Reuters on Sunday that such estimates were guess-work.




"Talk of bigger numbers is complete speculation," said a
spokesman for the bank, which owns 38 percent of IKB.


Read more at Reuters.com Bonds News

CORRECTED: Qatar bank's $6.1 billion Ahli United bid stalls

(Reuters) - DUBAI - International Bank of Qatar said on
Sunday talks to buy a stake in Bahrain's Ahli United Bank
had stalled, spelling a possible end to what
would be the biggest cross border takeover of a Gulf Arab firm.




International Bank, an affiliate of National Bank of Kuwait
, said shareholders were insisting that a third party
and not the Qatari firm have access to the books of Bahrain's
biggest lender, and that due diligence be limited to one month
rather than three.


Read more at Reuters.com Business News

Treasuries Posting Best Returns Since 2002 as Subprime Losses Stir Concern

(Bloomberg) -- So much for the bear market in
Treasuries.

Yields on 10-year notes fell below where they started in
January after climbing to a five-year high in June. Government
securities are on track to return 5.3 percent this year, the best
performance since gaining 12 percent in 2002, Merrill Lynch & Co.
index data show.


Read more at Bloomberg Bonds News

BA execs to be named in price fixing probe: report

(Reuters) - "These executives could be prosecuted in the criminal courts in the U.S.," it said.




Two BA executives were identified when they resigned last October -- former commercial director Martin George and former public relations boss Iain Burns -- although no wrongdoing by either has been announced.


Read more at Reuters.com Business News

HK financier Francis Leung joins CVC as adviser

(Reuters) - Leung, a long-time banker to Hong Kong tycoon Li Ka-shing with close China ties, was with Citigroup Global Markets as chairman of Asia until last year focusing on developing Citigroup's Greater China investment banking business, CVC said.




CVC, which is a major shareholder in global motor racing business Formula 1, owns interest in Australia's media group PBL Media, Japan's restaurant chain Skylark, Singapore's precision metals stamping firm Amtek, Malaysia's largest paper packaging firm GS Paper and Packaging, and Chinese wood fibreboards maker Plantation Timber Products.


Read more at Reuters.com Business News

Libya economy committee backs free market reforms

(Reuters) - Libya said on Saturday it was looking at relaxing restrictions on foreign and domestic trade, part of investor-friendly reforms which long-time leader Muammar Gaddafi has said are inevitable in the modern world.

The government's economy committee proposed that restrictions on imports be freed up and eventually cancelled, a source on the committee said. Export barriers would also be removed, except for cement, steel and subsidised commodities.


Read more at Reuters Africa

JPMorgan India loses 4 senior executives to rival

(Reuters) - "We reiterate that India continues to be a priority focus for JPMorgan. We propose to make additional announcements shortly," he said.




An Indian newspaper said the four executives -- Sameer Lumba, its head of equity sales; Rohit Shah, its head of sales and trading; Rajiv Gala and Manish Dabir -- were joining the institutional equities arm of JM Financial


Read more at Reuters.com Business News

South Africa Oil Companies Improve Pay Offer to Try End Strike, Union Says

(Bloomberg) -- BP Plc, Royal Dutch Shell Plc and
other oil refiners in South Africa improved their wage offer to
local workers in a bid to end a strike that has led to fuel
shortages in Africa's largest economy.

``We can't say yet what the improvement is,'' Welile
Nolingo, secretary-general of the Chemical, Energy, Paper,
Printing, Wood and Allied Workers' Union (CEPPWAWU) said by phone
from Johannesburg today. ``We're still negotiating.''


Read more at Bloomberg Energy News

UPDATE 1-Court will wait to rule on CBOT exercise rights

(Reuters) - The Delaware Chancery Court also denied CME Group Inc.'s
request for a temporary restraining order it sought to
prevent the Chicago Board Options Exchange, or CBOE, from
implementing its "rule interpretation" on the status of Chicago
Board of Trade members, CME and the CBOE said.




CME Group Inc., the world's largest futures exchange, was
created with the merger of CBOT Holdings Inc. and Chicago
Mercantile Exchange Holdings Inc. in July. The CBOE is the
largest U.S. options market.


Read more at Reuters.com Government Filings News

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 Government Filings News

Bear Stearns preparing to oust president: WSJ

(Reuters) - Bear Stearns' board is due to meet on Monday to consider the departure of Spector, who heads up its stock and bond trading operations, the paper said, citing a person familiar with the situation.




Spector, 49, had widely been seen as a candidate to become the firm's next chief executive, the Journal said.


Read more at Reuters.com Business News

Canada's Dollar Strengthenens as Crude Oil Surges, Growth Accelerates

(Bloomberg) -- Canada's dollar rose, ending its two-
week losing streak, as crude oil prices touched a record high,
and economic growth accelerated in May.

Canada's currency has gained this year as the Bank of
Canada raised interest rates to stem inflation and cool the
expanding economy. The currency, up more than 11 percent against
the U.S. dollar this year, is the second-best performer among 16
most actively traded currencies, trailing only Brazil's real.


Read more at Bloomberg Currencies News

UPDATE 1-US RATE FUTURES-Chances of Fed cuts up on weak job data

(Reuters) - CHICAGO, Aug 3 - U.S. short-term interest rate
futures on Friday boosted the implied chances for Federal
Reserve rate cuts this year after weak July payrolls growth and
a rise in the unemployment rate.




The U.S. Labor Department said 92,000 nonfarm payroll jobs
were created in July, below the median forecast of 130,000. The
July jobless rate inched up to 4.6 percent from 4.5 percent in
June, for its highest since January.


Read more at Reuters.com Bonds News

US STOCKS-Indexes open down after jobs data

(Reuters) - The Dow Jones industrial average was down 18.70
points, or 0.14 percent, at 13,444.63. The Standard & Poor's
500 Index was down 1.97 points, or 0.13 percent, at
1,470.23. The Nasdaq Composite Index was down 5.50
points, or 0.21 percent, at 2,570.48.




Read more at Reuters.com Bonds News

US RATE FUTURES-Gains build on weak ISM services

(Reuters) - The Institute for Supply Management said its services index
in July was 55.8 -- still showing growth, but below the Wall
Street consensus of 59.0 and the lowest since March.




Read more at Reuters.com Bonds News

TREASURIES-Bond prices gain after soft jobs, services data

(Reuters) - NEW YORK, Aug 3 - U.S. government debt prices
rose on Friday as soft data on the U.S. job market and services
sector spurred more bond investors' bets the Federal Reserve
may start cutting interest rates before year end.




U.S. stocks sagged partly on weak signals in the data,
helping to contributed to safe-haven bids for Treasuries, with
worries about riskier credit and the impact of subprime debt on
the financial sector resurfacing. Credit rating agency Standard
& Poor's cut Bear Stearns 's debt outlook, sending its
shares down.


Read more at Reuters.com Bonds News

US STOCKS-S&P drops 1 percent as Bear Stearns sinks

(Reuters) - NEW YORK, Aug 3 - U S. stocks dropped on Friday,
with the S&P 500 losing more than 1 percent, after Standard &
Poor's cut Bear Stearns Cos. Inc.'s rating outlook,
dragging down shares of the investment bank and other
financial-sector stocks.




The Dow Jones industrial average was down 118.52
points, or 0.88 percent, at 13,344.81. The Standard & Poor's
500 Index was down 14.72 points, or 1.00 percent, at
1,457.48. The Nasdaq Composite Index was down 21.67
points, or 0.84 percent, at 2,554.31.


Read more at Reuters.com Bonds News

Bush signs bill to strengthen anti-terror effort

(Reuters) - "There is still other work to be done," Bush said as he signed the legislation.




He cited the need to reform the "dysfunctional" way Congress oversees intelligence and counter-terrorism activities and the urgent need to expand the government's powers to eavesdrop on telephone calls and e-mail from abroad.


Read more at Reuters.com Bonds News

Canada 2007-08 budgets all in the black - report

(Reuters) - "Official projections put the 2007-08 federal and aggregate
provincial budget balances at $3 billion each,"
said Lovely.




"However, robust nominal income growth hints that planning
targets could again be too modest, particularly at the
provincial level, where fiscal results are traditionally more
tightly correlated with underlying economic conditions than at
the federal level."


Read more at Reuters.com Bonds News

US STOCKS-Mortgage fallout, economic data weigh on Wall St

(Reuters) - NEW YORK, Aug 3 - U.S. stocks fell on Friday, as
worries about mortgage losses deepened after a ratings agency
cut its outlook on investment bank Bear Stearns Cos.'
debt, and data suggested weakness in the economy.




Standard & Poor's said it changed its ratings outlook on
Bear Stearns, the biggest U.S. underwriter of mortgage bonds,
to "negative" from "stable," indicating there is a better
chance of a downgrade over the next two years. For details,
see [ID:nN03300207].


Read more at Reuters.com Bonds News

Italy's UniCredit clinches Polish sale to GE Money

(Reuters) - MILAN, Aug 3 - Italian bank UniCredit said on Friday it had agreed to sell to GE Money about 66 percent of its so-called New BPH bank, which comprises 200 bank branches from UniCredit's Polish unit, for 625.5 million euros



in cash.


Read more at Reuters.com Bonds News

UPDATE 3-S&P changes Bear outlook to negative; shares fall

(Reuters) - NEW YORK, Aug 3 - Standard & Poor's on Friday
changed its rating outlook on Bear Stearns Cos. to negative
from stable, indicating a greater chance of a downgrade over
the next two years, as it warned of problems that could hurt
the firm's performance "for an extended period."




S&P said issues include problems at some of Bear Stearns'
managed hedge funds.


Read more at Reuters.com Bonds News

UPDATE 1-Plusses seen in end of Boston Scientific unit sale

(Reuters) - CHICAGO, Aug 3 - Boston Scientific Corp.'s
decision not to divest part of its Endosurgery business signaled
the medical devices company has confidence it can pare down its
sizable debt through other means and would be better off hanging
on to its most stable product line, analysts said.




The decision announced on Thursday to change course and keep
the business, which makes products used to treat gallstones,
kidney stones and to perform colonoscopies, is the first major
financial decision by Boston Scientific under its new chief
financial officer.


Read more at Reuters.com Bonds News

Sandisk, Micron rise after Samsung chip outage

(Reuters) - Conversely, some consumer electronics makers may be forced to pay more for NAND flash, a slim form of flash memory with no moving parts that is poised to eventually take over a market once dominated by clunkier hard drives.




For example, Apple Inc. uses NAND flash in some of its iPod digital media player devices. Shares of Apple fell 1.34 percent to $134.66 in early trading on Friday on Nasdaq.


Read more at Reuters.com Hot Stocks News

Mortgage fallout, economic data weigh on Wall St

(Reuters) - Standard & Poor's said it changed its ratings outlook on Bear Stearns, the biggest U.S. underwriter of mortgage bonds, to "negative" from "stable," indicating there is a better chance of a downgrade over the next two years.




"People are very concerned. They do not know how deep these loan problems are and how it will affect the economy," said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York.


Read more at Reuters.com Hot Stocks News

Gold miner Newmont has 2nd-quarter loss after charges

(Reuters) - Gold miner Newmont Mining Corp. posted a quarterly net loss on Thursday as a result of huge charges on the value of its discontinued merchant banking operation and the elimination of its gold hedge positions.

Still, the operating results of the world's No. 2 gold producer beat estimates, even as it sold less gold than a year earlier, but at higher average prices.


Read more at Reuters Africa

Brazilian company to rebuild crucial Angola dam

(Reuters) - Brazilian company Odebrecht is set to rebuild a crucial hydroelectric dam in Angola, raising hopes that foreign investment will boost an electricity industry battered by civil war, a state official said on Thursday.

The $158 million, 20-month project approved by the Angolan cabinet on Wednesday, has raised hopes that businesses in the southern region stand to benefit from investment.


Read more at Reuters Africa

FTSE up as miners support but credit fears remain

(Reuters) - The FTSE 100 index of Britain's leading shares edged up on Friday after U.S. stocks climbed overnight as robust earnings tempered nervousness about more weakness in credit conditions.

Such worries were heightened after Accredited Home Lenders Holding Co. -- a subprime lender in the process of being sold -- which raised concern about its ability to stay in business. For details, see.


Read more at Reuters Africa

Dollar steady ahead of payrolls; credit still key

(Reuters) - The dollar steadied against major currencies on Friday, hugging tight ranges as investors shifted focus to upcoming U.S. employment data from the credit and stock market volatility that has dominated trading in recent weeks.

The monthly non-farm payrolls report could give a clearer picture of the health of the U.S. economy and help set the tone in currency markets for the next week.


Read more at Reuters Africa

Miner Anglo to sell Tarmac; raises profit, buyback

(Reuters) - Anglo American put its Tarmac road-covering business up for sale on Friday as it met forecasts with a 22 percent rise in first-half earnings and pledged to return a further $4 billion to shareholders.

Chief Executive Cynthia Carroll said the sale of UK-based Tarmac, which analysts believe could fetch over $6 billion, was the mining group's last major piece of restructuring as it moves to focus on its metals and minerals businesses.


Read more at Reuters Africa

Morocco H1 c/a surplus up 72 pct, trade gap widens

(Reuters) - Morocco's trade deficit grew in the first half of 2007 as a construction boom increased demand for foreign building materials and equipment, the North African country's Exchange Office said on Friday.

However, the current account surplus, boosted by increases in remittances from Moroccans abroad and tourism receipts, rose by 72 percent year-on-year.


Read more at Reuters Africa

India Tata Steel to buy 35 pct in Mozambique project

(Reuters) - India's top private steel maker Tata Steel Ltd. said on Friday it would spend A$100 million to buy a 35 percent stake in a Mozambique coal project run by Australia's Riversdale Mining Ltd..

Tata Steel, which bought Anglo-Dutch Corus for $12.9 billion this year to become the world's sixth-largest steel maker, said it would source coking coal from the project for Corus' plants in the U.K. and Europe, and for Tata's Indian units.


Read more at Reuters Africa

S.Africa's c.bank casts doubt on maize for ethanol

(Reuters) - South Africa's central bank chief Tito Mboweni has questioned the wisdom of using maize as a source for ethanol, saying global trends have shown this would push up prices of the staple food.

"It seems that we in South Africa think that we are going to produce ethanol from maize," Mboweni said at a dinner.


Read more at Reuters Africa

Rand softer vs dollar as risk aversion weighs

(Reuters) - South Africa's rand was weaker against the dollar in late Friday trade -- giving up its earlier gains -- as the greenback's own softness against the yen brought risky-asset jitters back to the fore.

At around 1510 GMT, the rand was trading at 7.1135 against the dollar, down 0.33 percent from New York's Thursday close of 7.09, having earlier strengthened to 7.0360 as some market players liquidated long dollar positions.


Read more at Reuters Africa

European Carbon Emission Permits Fall as U.K. Natural-Gas Prices Decline

(Bloomberg) -- European Union carbon dioxide permits
fell as U.K. natural-gas prices dropped, making the cleaner-
burning fuel more attractive to power producers.

Permits for December 2008 lost as much as 30 cents, or 1.5
percent, to 20.40 euros ($27.94) a metric ton on the European
Climate Exchange in Amsterdam. They traded at 20.57 euros at
11:13 a.m. local time. That's the second drop in three days.


Read more at Bloomberg Energy News

Brazil's FIPE inflation slows to 0.27 pct in July

(Reuters) - Clothing prices fell 0.62 percent and transport costs
extended their drop to 0.38 percent after 0.16 percent the
previous month. Food prices rose the most, by 1.06 percent, but
much less than in June, when the rise was of 1.9 percent, due
to a seasonal decline in output of certain crops.




The Fipe index is closely watched by economists for trends
in Brazil's benchmark IPCA inflation index, which is used by
the central bank to set interest rates.


Read more at Reuters.com Economic News

Services growth deteriorates in July: ISM survey

(Reuters) - The services sector represents about 80 percent of U.S. economic activity, including businesses like restaurants, hotels, banks and airlines.




Read more at Reuters.com Economic News

UPDATE 1-Jobs data show US economy strong-WH's Lazear

(Reuters) - "I think the jobs numbers, although lower than the previous
month, are still within range and we still think of these as
good, solid numbers," Council of Economic Advisers Chairman
Edward Lazear told reporters.




He was speaking after data showed a less-than-expected
92,000 new U.S. jobs were created in July versus a downwardly
revised 126,000 the previous month.


Read more at Reuters.com Economic News

WRAPUP 2-U.S. July job growth slowest since February

(Reuters) - In another sign of slowing growth, the Institute for Supply Management reported signs of a weakening service sector as its index of July activity fell to 55.8 from 60.7 in June. Any reading over 50 indicates growth.




Problems in the housing sector, where lenders are encountering difficulties with rising mortgage defaults and prices are declining in many metro markets, appeared to spread into hiring as construction businesses cut jobs.


Read more at Reuters.com Economic News

Japan's Bonds Advance on Speculation Mortgage Losses to Slow U.S. Growth

(Bloomberg) -- Japan's five-year notes rose for a
fourth week on speculation losses tied to mortgages will slow
growth in the U.S., making it harder for the Bank of Japan to
raise interest rates this month.

Five-year notes completed the longest weekly advance since
May 2005 on concern riskier assets such as corporate bonds and
stocks will extend losses. Bear Stearns Cos., the manager of two
hedge funds that collapsed last month, said this week it blocked
investors from pulling money out of a third.


Read more at Bloomberg Bonds News

European Government Bonds Post Weekly Decline as ECB Signals Rates to Rise

(Bloomberg) -- European government bonds posted their
first weekly decline in a month after the European Central Bank
indicated it will raise interest rates further this year.

The decline in German bunds, Europe's benchmark, pushed 10-
year yields to the highest in a week yesterday after ECB
President Jean-Claude Trichet signaled rates may rise from a six-
year high of 4 percent as early as September. Fellow policy maker
Lorenzo Bini Smaghi told Italian newspaper Il Sole-24 Ore that
inflation would quicken this year, adding to the case for higher
borrowing costs.


Read more at Bloomberg Bonds News

Treasuries Climb as Jobs, Services Data Add to Bets on Economic Slowdown

(Bloomberg) -- Treasuries rose after weaker-than-
forecast reports on jobs and services reinforced speculation
that losses in mortgage-backed bonds will lead to a broad-based
economic slowdown.

Two-year notes, more sensitive than longer-maturity debt to
changes in monetary policy, led the rally as traders increased
bets that the Federal Reserve will cut interest rates this year.
The gains accelerated after Bear Stearns Cos., the second-
largest underwriter of mortgage-backed bonds, had its credit-
rating outlook cut to negative by Standard & Poor's.


Read more at Bloomberg Bonds News

India HDFC to pick insurance partner in 2 wks-paper

(Reuters) - The shortlisted firms include U.S.-based Travelers and Australia's IAG Group and another U.S. company that was not named, the paper said without directly attributing the information to a source. HDFC had ruled out Germany's Ergo as a partner in its wholly owned HDFC Chubb General Insurance Co., although the two firms were still in talks, the newspaper said with no direct attribution to a source.



HDFC bought its partner Chubb Corp's 26 percent stake in the general insurance venture earlier this year after an uneasy relationship stalled growth.


Read more at Reuters.com Mergers News

Ahold Q2 sales up, U.S. stores beat forecasts

(Reuters) - AMSTERDAM, Aug 3 - Dutch supermarket group Ahold NV said on Friday second-quarter sales rose 2 percent, thanks to favourable conditions in its main markets, but a revamp of U.S. stores would continue to hurt margins.



Net sales increased to 6.6 billion euros from 6.47 billion a year ago, matching an average forecast of 6.6 billion euros from 13 analysts polled by Reuters. Adjusted for currency effects, sales rose 5.6 percent.


Read more at Reuters.com Mergers News

Israeli Blue Square to buy 51 pct stake in pvt retailer

(Reuters) - The Bronfman-Alon Group owns Blue Square.





Read more at Reuters.com Mergers News

Garmin to buy its Italian distributor

(Reuters) - Aug 3 - Navigational devices maker Garmin Ltd. said it plans to buy its Italian distributor, Synergy S.p.A., to strengthen its European sales and marketing presence.



Financial terms of the proposed deal were not disclosed.


Read more at Reuters.com Mergers News

Air Liquide says KKR bid talk "barely credible"

(Reuters) - Potier added that Air Liquide had a long-term shareholder
base and highlighted the company's regular earnings growth.




Read more at Reuters.com Mergers News

Investors Bancorp, Summit Federal announce merger deal

(Reuters) - This will be followed by the merger of Summit Federal
Savings Bank into Investors Savings Bank, with Investors
Savings Bank surviving.





Read more at Reuters.com Mergers News

Michael Dell Wins Over Investors, Plans to Trade `Cheap' PC Image for Cool

(Bloomberg) -- Michael Dell is undoing everything
that made Dell Inc. unique so he can make it the world's largest
personal-computer maker again. It just may work.

Eleven of Dell's 16 largest outside investors added to their
holdings, according to the most recent filings. The stock has
risen 15 percent since the founder's return as chief executive
officer, more than twice the gain of Hewlett-Packard Co. In the
second quarter, Dell had its first increase in PC shipments from
the previous quarter in a year.


Read more at Bloomberg Exclusive News

`Uncle Ted' Stevens's Corruption Probe Imperils Federal Dollars for Alaska

(Bloomberg) -- The federal corruption investigation
of U.S. Senator Ted Stevens not only threatens the career of the
longest-serving Republican in Senate history, it also puts at
risk the billions of dollars that ``Uncle Ted'' steers to
Alaska.

``Republicans, Democrats, everybody still hopes that
nothing has gone wrong here, since he's so important to the
state,'' said Republican State Representative Ralph Samuels, the
majority leader in Alaska's House.


Read more at Bloomberg Exclusive News

Doomsday Simulations Help U.S. Gird for Hurricanes, Pandemics, Terrorism

(Bloomberg) -- The computer screen shows a toxic
cloud rolling slowly over buildings, a visualization that
permits scientists to record every lethal swirl and eddy and to
calculate the toll for a city's residents.

It's a far cry from ``The Sims,'' an addictive computer
game that lets users create a virtual universe. As displayed on
computers nicknamed ``Coyote'' and ``Thunderbird,'' disaster
simulations conducted under a $25 million program run by Sandia
and Los Alamos national laboratories are helping the U.S.
government predict the impact of chemical or biological attacks,
killer hurricanes, or accidents such as the collapse of the
bridge on the main highway into Minneapolis.


Read more at Bloomberg Exclusive News

Warren Buffett's $46 Billion Cash Pile Can Buy WellPoint, Nucor, Kohl's

(Bloomberg) -- Berkshire Hathaway Inc. Chairman
Warren Buffett is ready to spend $40 billion to $60 billion on
an acquisition, and his opportunities are expanding as stocks
fall and leveraged buyouts dry up.

Shares of health insurers, steelmakers and department
stores are as much as 18 percent cheaper than in May, when
Buffett said he would ``figure out a way'' to come up with $60
billion for the right deal. WellPoint Inc., Nucor Corp., Kohl's
Corp. and dozens more companies are now closer to meeting his
investment criteria.


Read more at Bloomberg Exclusive News

UPDATE 1-EU executive sees no pan-EU fallout from IKB

(Reuters) - Officials working for Internal Market Commissioner Charlie
McCreevy, the bloc's top financial regulator, and for Economic
and Monetary Affairs Commissioner Joaquin Almunia are studying
the situation at IKB, a Commission spokesman said.




"We see no particular reason at this moment in time to be
worried. We see no pan-European implications. The matter has
been dealt with by the competent authorities," he said.


Read more at Reuters.com Government Filings News

UPDATE 1-Virtusa says IPO priced at $14/shr

(Reuters) - The company said it expects net proceeds of about $53
million, of which it plans to use about $30 million to fund the
construction and build-out of a facility on its planned campus
in Hyderabad, India.




The remainder of these proceeds will be used to finance the
expansion of its global delivery centers or capacity in
Chennai, India and Colombo, Sri Lanka, the hiring of additional
personnel, sales and marketing activities, capital expenditures
and the costs of operating as a public company.


Read more at Reuters.com Government Filings News

Australian, New Zealand Dollars Rise as U.S. Stock Gain Lifts Carry Trade

(Bloomberg) -- The Australian and New Zealand
dollars gained for a second day against the yen as a rally in
U.S. stocks attracted investors to higher-yielding assets funded
by loans from Japan.

The two currencies headed for weekly gains, recovering from
two-month lows, as the Dow Jones Industrial Average had the
first two-day gain in two weeks. New Zealand's 7.75 percentage
point and Australia's 5.75 point interest-rate premium over
Japan make the currencies favorites for so-called carry trades.


Read more at Bloomberg Currencies News

U.K. Pound Heads for Weekly Advance Versus Dollar as Carry Trade Resumes

(Bloomberg) -- The pound headed for a weekly gain
against the dollar as credit markets rebounded, prompting
investors to resume so-called carry trades.

The pound is also poised for its biggest advance against
the yen in six weeks as stocks recovered and traders bought
high-yielding currencies with loans from Japan. Investors added
to bets the Bank of England will raise interest rates at least
once more from 5.75 percent by year-end.


Read more at Bloomberg Currencies News

Jim Rogers Calls U.S. Housing Market One of History's `Biggest Bubbles'

(Bloomberg) -- The U.S. subprime-market rout that
wiped out $2.1 trillion from global share values last week has
``got a long way to go,'' said Jim Rogers, who predicted the
start of the commodities rally in 1999.

This week's rebound in equity markets hasn't persuaded
Rogers, 64, to pull out of bets that U.S. investment banks and
homebuilders are heading for further declines.


Read more at Bloomberg Currencies News

RBS profits up 11 percent

(Reuters) - The bank said income grew 8 percent to 14.7 billion pounds and costs as a percentage of revenue improved to 41.4 percent from 41.9 percent.




Profits in its U.S. banking arm Citizens fell 7 percent in sterling terms to 752 million pounds, but operating profit was up 2 percent before the impact of the weak dollar.


Read more at Reuters.com Business News

Allianz beats forecasts as life insurance shines

(Reuters) - "The good results from the first half year provide an excellent platform for attaining our goals in 2007-2009," Chief Executive Michael Diekmann said in a statement.




"We are expecting net income of around 8 billion euros for the year 2007."


Read more at Reuters.com Business News

Miner Anglo to sell Tarmac

(Reuters) - The copper, platinum and gold specialist said on Friday it made underlying earnings of $3.1 billion in the six months to June 30, broadly in line with analysts' average forecast of $3.2 billion, according to Reuters Estimates, and said the outlook for most of its metals and minerals remained positive.




Read more at Reuters.com Business News

July job growth slowest since February

(Reuters) - The Labor Department also revised down its estimates for job creation in each of the two prior months by a total of 8,000 - to 126,000 in June from a previously reported 132,000 and to 188,000 in May instead of 190,000.




July's new-job total was the smallest for any month since February, when 90,000 were added. The consensus forecast of economists in a week-old Reuters poll was for 130,000 new jobs in July.


Read more at Reuters.com Business News

Nickel Heads for 2nd Weekly Drop in London on Stockpile Gain; Lead Rises

(Bloomberg) -- Nickel headed for a second
consecutive weekly decline as stockpiles of the metal rise,
expanding supply. Lead increased and copper dropped.

Inventories of nickel tracked by the London Metal Exchange
grew 330 metric tons to 15,138 tons, the exchange said today in
a daily report. Stockpiles have risen fivefold since Feb. 6,
when they were at a 15-year low.


Read more at Bloomberg Commodities News