Copper Rises in Asia on U.S. Economic Growth Report; Zinc, Aluminum Up

(Bloomberg) -- Copper futures in Asia rose after a
report showed faster-than-expected economic growth in the U.S.,
indicating demand may increase in the world's second-largest
consumer of the metal.

The U.S. economy expanded at a 3.4 percent annual rate in
the second quarter, the fastest in more than a year, as
commercial construction soared, the Commerce Department said
July 27. Construction is the main market for copper in the U.S.,
accounting for almost half of its use.


Read more at Bloomberg Commodities News

Yen Erases Rally Against Euro, Dollar After Japanese Stocks Stage Rebound

(Bloomberg) -- The yen erased gains as a rebound in
Japanese stock prices stopped investors from reducing holdings
funded by loans in the Japanese currency.

The Japanese yen had risen to a three-month high against the
euro as a slump in global stocks caused traders to pare so-called
carry trades. It also retreated from a two-month high against
both the Australian and New Zealand dollars.


Read more at Bloomberg Currencies News

Australian Mining Stocks Rise, Led by BHP Billiton; Macquarie Declines

(Bloomberg) -- Australian shares rebounded from early
losses, led by BHP Billiton Ltd. after copper and oil prices rose.

Macquarie Bank Ltd., the nation's largest investment bank,
fell on speculation higher credit costs will slow global takeovers
and dent advisory fees.


Read more at Bloomberg Stocks News

Tongaat-Hulett says H1 headline loss R155 mln

(Reuters) - South African sugar group Tongaat Hullet posted a first-half headline loss of 145.1 cents per share, the firm said on Monday.

The group, which said on July 27 it expected the headline loss, said profit from operations was 308 million rand compared to 307 million rand in the year-ago period.


Read more at Reuters Africa

Match.com expands mobile online dating service

(Reuters) - The service provides subscribers with text messages to their phones when they have an e-mail from another Match.com subscriber and allows them to search for potential matches from their cell phones.




For an extra fee of about $5 per month, MatchMobile subscribers can receive and answer e-mails from suitors on their mobile phones.


Read more at Reuters.com Business News

PRESS DIGEST - Wall Street Journal - July 30

(Reuters) - * Dow Jones & Co. Inc.'s controlling shareholders,
the Bancroft family, were still deliberating late Sunday
whether to sell to News Corp. , which has offered $5
billion for the publisher.




* John Malone's Liberty Global Inc. is weighing a
bid for Virgin Media Inc. , for which the Carlyle Group
[CYC.UL] has already offered $8 billion to $10 billion.


Read more at Reuters.com Mergers News

South Korea Stocks Rise, Erasing Earlier Losses; Hynix Semiconductor Gains

(Bloomberg) -- South Korean stocks rose, snapping a
two-day fall that had wiped out $68 billion in market value.
Technology companies rose, led by Hynix Semiconductor Inc., after
Shinyoung Securities Co. lifted its price estimate on higher chip
prices.

Stocks also rose after a government report showed South
Korea's industrial production increased almost twice as much as
expected, reinforcing speculation economic growth will speed up.
Posco advanced.


Read more at Bloomberg Stocks News

Sri Lanka's Inflation Probably Accelerated in July on Oil and Food Prices

(Bloomberg) -- Sri Lanka's inflation probably
quickened in July for the first time in four months as higher
oil and food prices offset slowing loan growth.

Consumer prices in the capital Colombo rose 15.5 percent
from a year ago, after gaining 13 percent in June, according to
the median forecast of 12 analysts in a Bloomberg survey. The
statistics department's index, the key inflation gauge watched
by the central bank, is due tomorrow at 3 p.m. in Colombo.


Read more at Bloomberg Emerging Markets News

Asian Stocks Rebound From 1-Month Low; JFE Gains, Hon Hai Precision Falls

(Bloomberg) -- Asian stocks rebounded from a one-
month low after higher profits at JFE Holdings Inc. and Nippon
Steel Corp. helped offset concerns of a slump in U.S. housing.

Toyota Motor Corp., the world's largest automaker by market
value, and Hon Hai Precision Industry Co., the biggest contract
manufacturer, led declines after a report showed a decline in U.S.
housing investment.


Read more at Bloomberg Stocks News

UPDATE 1-ABN withdraws backing for Barclays bid

(Reuters) - The Netherlands' biggest bank, which faces competing offers
of 65.6 billion euros from Barclays and 71
billion euros from the consortium of RBS, Fortis of
Belgium and Spain's Santander , also reported a 7.1
percent decline in quarterly net profit.




ABN originally backed Barclays when announcing a deal to
merge with it in April.


Read more at Reuters.com Market News

Newcastle Port Coal Price Rises on Speculation Japan Will Need More Fuel

(Bloomberg) -- The price of power-station coal at
Australia's Newcastle port rose for the first time in four weeks
on speculation Tokyo Electric Power Co. may need to buy the fuel
after shutting its nuclear reactor.

Coal for immediate delivery at the world's largest coal
export harbor, increased 51 cents to $66.81 a metric ton in the
week ended July 27 from the previous week, according to the
globalCOAL NEWC Index. Tokyo Electric said it will run its
thermal and hydro power plants above their design capacity and
buy power from other utilities after shutting the world's biggest
nuclear reactor after a July 16 earthquake.


Read more at Bloomberg Energy News

ABN Amro Holding NV, Bulgari, Geox, Linde, Tod's: European Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in European markets. Prices are from the last close.

The Dow Jones Stoxx 600 fell 0.5 percent to 372.69. The Dow
Jones Stoxx 50 Index declined 0.4 percent to 3720.33. The Euro
Stoxx 50 Index, a benchmark for the 13 nations using the euro,
dropped 0.2 percent to 4244.58.


Read more at Bloomberg Stocks News

Saudi Aramco Offers to Sell 90,000 Tons of Fuel Oil for Loading in August

(Bloomberg) -- Saudi Aramco, the world's biggest
state oil company, offered to sell 90,000 metric tons of fuel
oil for loading in August, according to an offer document sent
to potential buyers

---------------------------------------------------------------
Product:      A-953, 380-centistoke, 3.7 percent sulfur
Quantity:     90,000 tons
Loading:      Aug. 18-20
Port:         Ras Tanura
Bids close:   July 31
Bid Validity: Aug. 1
---------------------------------------------------------------

The oil's centistoke rating is a measure of its viscosity
or flow rate. Fuel oil is used as ship fuel and burned at power
plants to generate electricity.


Read more at Bloomberg Energy News

Porsche, SAP, Continental, Munich Re, GPC Biotech: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets. Stock symbols are in parentheses after the
company names and prices are from the Xetra close on July 27
unless otherwise stated.

DAX futures expiring in September dropped 72, or 1 percent,
to 7488 in Frankfurt. The DAX declined 0.8 percent to 7451.68 on
the Xetra electronic-trading system.


Read more at Bloomberg Stocks News

Doosan to buy Ingersoll units for $4.9 billion

(Reuters) - Ingersoll signed a definitive agreement to sell Bobcat, the
world's top compact construction equipment firm, and its
utility equipment and attachment businesses, which in 2006
together generated $2.6 billion in sales and $370 million in
operating profits.




"The sale of Bobcat, Utility Equipment and Attachments
represents the last major auction to transform our business
portfolio to reposition Ingersoll Rand as a diversified
industrial company," CEO Herbert Henkel said in a statement.


Read more at Reuters.com Business News

Most U.S. mid-sized companies not hiring -survey

(Reuters) - The news adds to evidence the U.S. economy may not grow as
robustly next year as it did last quarter, when gross domestic
product grew at an annualized rate of 3.4 percent.




Not all companies are gloomy about employment -- 47
percent expect to hire, according to the survey from CIT and
the Economist Intelligence Unit. But 44 percent of mid-sized
companies see their workforce size staying the same, and 9
percent forecast a decline.


Read more at Reuters.com Economic News

JGB futures fall from 2-month high on BOJ jitters

(Reuters) - JGBs quickly gave up early gains made on a drop in Tokyo
share prices as investors were concerned that bond yields have
fallen too far if the BOJ decides to lift the overnight call rate
to a 12-year high of 0.75 percent in August from the current 0.5
percent.




A slump in Japanese stock and credit markets in the past week
and a plunge in global equity markets have stirred doubts about a
BOJ interest rate increase next month, driving benchmark JGB
yields to two-month lows.


Read more at Reuters.com Bonds News

Malaysia's Naim Plans 500 Million Ringgit Islamic Debt Sale for Projects

(Bloomberg) -- Naim Cendera Holdings Bhd., a
Malaysian construction company, plans to sell debt for the first
time this year to fund property purchases and construction
projects in the country's largest state.

The company, based in Kuching, Sarawak, the biggest
Malaysian state by land area, plans to sell 500 million ringgit
($144 million) of Islamic debt in September, Deputy Managing
Director Sharifuddin Wahab said. CIMB group will manage the sale.


Read more at Bloomberg Bonds News

Liberty reportedly mulling Virgin Media bid

(Reuters) - Virgin Media had asked suitors to submit expressions of interest by the first week of August to kick off an auction of the company, people familiar with the situation told Reuters earlier this week.




About 10 suitors have expressed an interest, sources told Reuters, since private equity firm Carlyle Group made an initial offer earlier this month.


Read more at Reuters.com Business News

Taiwan's CPC Says Kaohsiung Crude Unit Is Unaffected by Yesterday's Fire

(Bloomberg) -- CPC Corp., Taiwan's state-owned oil
refiner, said a crude distillation unit at its refinery in
Kaohsiung in southern Taiwan was unaffected by a fire yesterday.
No one was hurt in the incident.

The fire, which broke out during an attempt to restart the
unit, was extinguished within 10 minutes, Jessica Tang, a
Taipei-based spokeswoman, said by telephone today. The plant has
the capacity to process 100,000 barrels of crude oil a day and
closed since June 6 for scheduled maintenance.


Read more at Bloomberg Energy News

Yangtze Power's Profit Jumps 72 Percent on Output and Sale of Bank Stake

(Bloomberg) -- China Yangtze Power Co., operator of
the world's biggest hydropower project, said first-half profit
jumped 72 percent after the company sold shares in a bank and as
electricity output rose.

Net income surged to 2.25 billion yuan ($298 million), or
0.268 yuan a share, from 1.31 billion yuan, or 0.16 yuan, a year
earlier, Yangtze Power said in a statement to Shanghai's stock
exchange today. Sales rose 12 percent to 3.4 billion yuan.


Read more at Bloomberg Emerging Markets News

South Korea's Stocks Slide on U.S. Housing Concern; Kookmin Bank Drops

(Bloomberg) -- South Korean stocks fell for the
third day. Kookmin Bank led declines on concern a deepening U.S.
housing slump will slow the world's biggest economy and prompt
investors to shun equities for safer assets.

``The housing-market problems may have a bigger-than-
expected damping effect on the U.S. economy,'' said Kim Han Jin,
vice president of Fides Investment Management in Seoul, which
manages $1 billion in equities. ``That could continue if consumer
spending fails to offset those negatives,'' while ``people want
to cut their holdings of riskier assets in emerging markets,'' he
said.


Read more at Bloomberg Stocks News

PetroChina slides on fears Buffett will sell more

(Reuters) - Analysts said further sales were not impossible, pressuring
the shares in the short term.




For a story on Buffett's share sale, please click on
[ID:nHKG303146].


Read more at Reuters.com Mergers News

Australian and New Zealand's Dollars Fall as Investors Cut Carry Trades

(Bloomberg) -- The Australian and New Zealand
dollars both fell to the weakest in a month against the U.S.
currency as a slide in stocks prompted investors to cut holdings
in higher-yielding securities.

The currencies were the worst performing today of the 16
most-traded as the Morgan Stanley Capital International Asia
Pacific Index fell 0.7 percent. A slump in corporate debt caused
investors to pare carry trades, in which they borrow cheaply in
yen and seek higher returns.


Read more at Bloomberg Currencies News

Ten-Year Treasury Yields Near 10-Week Low as Asia Stocks Follow U.S. Lower

(Bloomberg) -- Treasuries were little changed, with
10-year note yields near a 10-week low, as Asian stock markets
slumped because investors are shunning riskier assets.

The securities look set to add to last week's biggest gain
since the period ended Sept. 22 on concern a U.S. housing market
slowdown and defaults on subprime mortgages will weigh on the
broader economy. Japan's equity markets led the region lower,
with the Nikkei 225 Stock Average declining more than 1 percent.


Read more at Bloomberg Bonds News

Yen Trades Near Three-Month High Versus Euro as Investors Cut Carry Trades

(Bloomberg) -- The yen traded near a three-month
high against the euro as a slump in global stocks caused traders
to repay Japanese currency loans used to fund higher-yielding
investments.

The Australian and New Zealand dollars, favorites of so-
called carry trades, dropped as corporate debt markets slumped
worldwide, increasing the cost of takeovers. The ruling
coalition of Japanese Prime Minister Shinzo Abe lost its upper
house majority yesterday, prompting Japanese stocks to decline.


Read more at Bloomberg Currencies News

Stock Bulls Grow More Bullish as Global Equity Markets Lose $2.1 Trillion

(Bloomberg) -- The biggest losses in stock and
credit markets in five years are making the U.S. stock bulls
more bullish.

The Dow Jones Industrial Average posted its steepest gain
since 2003 on July 12, two days after tumbling on Standard &
Poor's plan to cut credit ratings for bonds backed by subprime
mortgages. The benchmark for America's biggest companies climbed
to a record the next week, following a decline sparked by losses
in Bear Stearns Cos. hedge funds. Some of the world's largest
investors say the S&P 500's biggest slump since September 2002
last week now offers them even more opportunities to profit.


Read more at Bloomberg Stocks News

Japan's Output Rebounds From Three-Month Slump as Weak Yen Boosts Exports

(Bloomberg) -- Japan's industrial production
increased in June, ending the worst manufacturing slump in
almost two years and easing concern that growth in the world's
second-largest economy may falter.

Production rose a seasonally adjusted 1.2 percent from May,
halting three months of declines, the Ministry of Economy, Trade
and Industry said in Tokyo today. The median estimate of 34
economists surveyed by Bloomberg News was for a 1 percent gain.


Read more at Bloomberg Bonds News

South Korea's Kospi Index Falls, Led by Kookmin, Shinhan, Hyundai Heavy

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, fell 0.41 percent at 9:05 a.m.

The index of 732 companies traded on the Korea Exchange
fell 7.74 to 1,875.48. Among the stocks in the index, 177 rose,
451 fell and 104 were unchanged.


Read more at Bloomberg Stocks News

Bank Rakyat, Bharat Heavy, China Life, Hana: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or
fall today in Asian markets, excluding Japan. This preview
includes news that broke after markets closed on July 27. Prices
are from the local market's last close. Stock symbols are in
parentheses after company names.

PT Bank Rakyat Indonesia (BBRI IJ): Indonesia's biggest
lender by market value said profit in the first half rose 17
percent as it expanded lending to companies and consumers in an
accelerating economy. Net income increased to 2.36 trillion
rupiah ($255 million) in the six months ended June 30, from 2.01
trillion rupiah a year earlier. The shares fell 200 rupiah, or
3.2 percent, to 6,100.


Read more at Bloomberg Stocks News

UK lawmakers urge tax, debt scrutiny in LBO review

(Reuters) - The House of Commons Treasury committee further recommended
in a report issued on Monday that tax authorities revisit rules
that enable private equity executives to pay a capital gains tax
rate of 10 percent or lower, but it stopped short of suggesting
any specific changes.




It also said buyout firms ought to be competing more
aggressively on the fees they charge investors, although rather
than putting forward a legislative remedy, it challenged
investors to negotiate harder.


Read more at Reuters.com Government Filings News

Oil Trades Little Changed After Surging to 11-Month High on U.S. Economy

(Bloomberg) -- Crude oil was little changed near an
11-month high in New York after rising last week on signs growth
in the U.S. economy may underpin world demand.

Oil jumped after a July 27 report showed the U.S. economy,
which uses about 24 percent of the world's oil, expanded by 3.4
percent in the second quarter, the fastest pace in more than a
year. A 3.2 percent increase was forecast by economists surveyed
by Bloomberg News. World demand will rise 1.8 percent this year,
the International Energy Agency said in a July 13 forecast.


Read more at Bloomberg Energy News

Italy says has one less option to save Alitalia

(Reuters) - The Italian Treasury, which has a 49.9 percent stake in Alitalia, is struggling to decide its next move to salvage the money-losing carrier after its seven-month auction collapsed earlier this month.




Economy Minister Tomasso Padoa-Schioppa last week said Rome was debating whether to start a new bidding process from scratch or begin direct talks with potential suitors, but backed away from the latter option on Sunday.


Read more at Reuters.com Business News

Fidelity chief says daughter may not run company-NYT

(Reuters) - Johnson's daughter now reports to that former Prudential
executive, Rodger Lawson, 60, which would seem to push her
further from the chief executive spot.




Ned Johnson told The New York Times in an article published
on Sunday, "I would expect the family would continue to play a
critical role in leading Fidelity."


Read more at Reuters.com Bonds News

WEEKEAHEAD-Emerging debt to remain volatile after selloff

(Reuters) - Despite the massive sell-off that left bonds with losses of
more than 1 percent for the year-to-date, dedicated emerging
market investors have not yet capitulated, but are possibly
waiting for an opportunity to buy on dips, fund managers and
analysts said.




"Although real-money accounts are obviously also feeling
the pain, they still believe that at some point this will be an
opportunity to add ," JP Morgan's analysts wrote in a
research note.


Read more at Reuters.com Bonds News

Russneft owners confirm sale talks with Deripaska

(Reuters) - "The owners of Russneft have transferred control in the
company to a number of investment structures, which were holding
talks with a number of contenders," president of bank BIN,
Mikhail Shishkhanov, said through a spokesman.




"We would be happy if Basel becomes the new owner," said
Shishkhanov, who is a business partner of Mikhail Gutseriyev,
the founder of Russneft and BIN.


Read more at Reuters.com Mergers News

TIPS, A Bad Tip on Inflation in 2006, Lose Value as Oil Closes In on $100

(Bloomberg) -- Treasury investors say inflation is
abating, even if the oil bulls are right and crude heads to $100
a barrel.

Pacific Investment Management Co. and Fidelity Investments
sold Treasury inflation-protected securities maturing next year,
confident that consumer prices will remain in check. Money
managers lost as much as $275 million on so-called TIPS in the
second half of 2006 because oil fell from record highs and
gasoline prices dropped.


Read more at Bloomberg Bonds News

RPT-Wall St Week Ahead: Data, earnings loom after painful week

(Reuters) - NEW YORK, July 29 - Getting back on the bull will
be no easy task this week, particularly after the meltdown
stock investors endured over the past two days.




The Standard & Poor's 500 and Dow Jones industrial average
ended trading on Friday at the week's lowest levels, marking
the worst one-week percentage drop for the S&P 500 in nearly
five years and the gloomiest on the Dow in five months.


Read more at Reuters.com Bonds News

Pearl, Deutsche last Abbey Life bidders: sources

(Reuters) - Reinsurer Swiss Re and closed life fund specialist Resolution were also named as bidders earlier in July.




Since then, however, Resolution has announced an 8.6 billion pound all-share merger with rival Friends Provident . The Sunday Telegraph reported that Swiss Re had also pulled out.


Read more at Reuters.com Business News

Madagascar, China sign deals worth $78 million

(Reuters) - China and Madagascar have signed four deals worth roughly $78 million for hotel construction and debt alleviation among other things, Malagasy officials said.

The deals confirmed agreements made at the China-Africa summit in Beijing last November between the Asian powerhouse and the enormous, mineral-rich island.


Read more at Reuters Africa