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

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

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

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

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

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

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

UPDATE 2-Coach fourth-quarter profit, outlook up; shares fall

(Reuters) - NEW YORK, July 31 - Coach Inc. said on
Tuesday that quarterly profit rose nearly 37 percent and raised
its 2008 outlook due in part to strong sales in Japan and the
introduction of its Ergo line of handbags.




But Coach shares were down 3.5 percent in afternoon trade as
some investors focused on a decline in quarterly gross margin and
others took profits a day after expectations had boosted shares 5
percent, according to one analyst.


Read more at Reuters.com Market News

Yen May Extend Decline Against Euro, Dollar as Stock Rally Encourages Risk

(Bloomberg) -- The yen may extend its decline
against the euro and dollar as a rebound in U.S. stocks might
restore investors' confidence to buy higher-yielding assets
funded by loans in Japan.

The Japanese currency dropped yesterday as rising U.S.
equities encouraged investors to resume the so-called carry
trade. Japan's yen has gained against all 16 major currencies
tracked by Bloomberg this month amid concern over subprime losses
and credit risks.


Read more at Bloomberg Currencies 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

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

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

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

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

Pound Posts Weekly Decline Versus Dollar as Investors Shun Risk, on Carry

(Bloomberg) -- The pound snapped a six-week rally
against the dollar as global stocks slumped and investors pared
so-called carry trades on concern U.S. subprime mortgage defaults
will slow growth.

The U.K. currency slid for a third day against the dollar,
falling from a 26-year high, as investors unwound purchases of
assets funded by borrowing in Japan and Switzerland, which have
the lowest rates among major economies. The pound this week fell
almost 4 percent against the yen, the most in five months.


Read more at Bloomberg Currencies News

GLOBAL MARKETS-Credit woes sweep financial markets

(Reuters) - NEW YORK, July 26 - U.S. stocks opened down more
than 1 percent on deepening concerns about instability in world
credit markets, while U.S. Treasuries rallied sharply as
investors sought a safe haven in government bonds.




Risky currency trades also came under pressure as the
Japanese yen rose across the board.


Read more at Reuters.com Bonds News

Yen Strengthens as Equities Decline, Prompting Unwinding of Carry Trades

(Bloomberg) -- The yen rose to a 2 1/2-month high
against the dollar as global equities fell, prompting traders to
reduce investment in assets funded by borrowing in Japan.

The Japanese yen rose against all 16 most-actively traded
currencies as investors pared so-called carry trades, following a
declines in stock markets in Asia and Europe. U.S. stock-index
futures also dropped on concern losses related to subprime
mortgages will undermine economic growth.


Read more at Bloomberg Currencies News

IAEA to send team to quake-hit Japan nuclear plant

(Reuters) - The plant was shut down automatically in the quake and will
remain closed indefinitely for safety checks. Japan has ordered
other nuclear plant operators to make strict safety checks.




The exact timing of the joint Japanese-IAEA examination will
be decided in consultation with the Japanese authorities, the
IAEA said, stopping short of giving any dates. The Nikkei
business daily reported that four IAEA inspectors would visit
the site as soon as early August.


Read more at Reuters.com Government Filings News