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