(Reuters) - It did not give financial details.
Read more at Reuters.com Mergers News
Tuesday, May 15, 2007
China to rebuild destroyed Zambia explosives plant
(Reuters) - Chinese investors plan to rebuild an explosives factory where 50 Zambians died two years ago, officials said on Tuesday -- a move that is likely to anger trade unions and residents.
The Environmental Council of Zambia (ECZ) said the Beijing General Research Institute of Mining and Metallurgy (BIGRIMM) had applied for an environmental assessment in a bid to resume explosives sales to nearby mines.
Read more at Reuters Africa
The Environmental Council of Zambia (ECZ) said the Beijing General Research Institute of Mining and Metallurgy (BIGRIMM) had applied for an environmental assessment in a bid to resume explosives sales to nearby mines.
Read more at Reuters Africa
Gold Little Changed in Asia As Dollar's Weakness Boosts Investment Appeal
(Bloomberg) -- Gold was little changed in Asia as the dollar fell for a fourth day against the euro, boosting the appeal of the precious metal as an alternative investment. Tokyo gold futures rose.
Gold rose 0.3 percent yesterday as the dollar fell the most in more than two weeks against the euro after a government report showed U.S. consumer prices rose last month by less than economists forecast, reducing chances of higher interest rates. Gold generally moves in the opposite direction of the dollar.
Read more at Bloomberg Commodities News
Gold rose 0.3 percent yesterday as the dollar fell the most in more than two weeks against the euro after a government report showed U.S. consumer prices rose last month by less than economists forecast, reducing chances of higher interest rates. Gold generally moves in the opposite direction of the dollar.
Read more at Bloomberg Commodities News
UPDATE 1-ING Q1 net profit dips, to buy back shares
(Reuters) - Net income fell to 1.894 billion euros for the first three months of the year from 2 billion euros a year earlier, and compared with an average forecast of 1.89 billion euros in a Reuters poll of 11 analysts.
"Strong commercial growth helped compensate for a challenging interest rate environment in the first quarter," ING Chief Executive Michel Tilmant said in a statement.
Read more at Reuters.com Market News
"Strong commercial growth helped compensate for a challenging interest rate environment in the first quarter," ING Chief Executive Michel Tilmant said in a statement.
Read more at Reuters.com Market News
WRAPUP 1-Fed's Hoenig sees rate policy in the balance
(Reuters) - "Whether we tighten or ease will depend on how these risks play out," Hoenig told local business leaders at the Colorado Economic Forum.
Hoenig and Cathy Minehan, Boston Fed President, continued to focus on inflation risks on a day when core consumer inflation was reported at a lower-than-expected 2.3 percent for the year through April. Both are voting members of the Federal Open Market Committee in 2007.
Read more at Reuters.com Government Filings News
Hoenig and Cathy Minehan, Boston Fed President, continued to focus on inflation risks on a day when core consumer inflation was reported at a lower-than-expected 2.3 percent for the year through April. Both are voting members of the Federal Open Market Committee in 2007.
Read more at Reuters.com Government Filings News
Pickens' BP Capital Equity Fund Increases Stakes in Suncor Energy, Valero
(Bloomberg) -- Boone Pickens' BP Capital Equity Fund boosted stakes in oil-sands producer Suncor Energy Inc. and refiner Valero Energy Corp. in the first quarter.
As of March 31, the fund's three largest long positions were in Suncor, Valero and Transocean Inc., according to a filing with the U.S. Securities and Exchange Commission.
Read more at Bloomberg Energy News
As of March 31, the fund's three largest long positions were in Suncor, Valero and Transocean Inc., according to a filing with the U.S. Securities and Exchange Commission.
Read more at Bloomberg Energy News
Barclays, DSG, LSE, Shell, Sainsbury, Vedanta: U.K., Irish Equity Preview
(Bloomberg) -- The following stocks may rise or fall in U.K. and Irish markets today. Stock symbols are in parentheses and prices are from yesterday's market close.
The benchmark FTSE 100 Index rose 13.10, or 0.20 percent, to close at 6568.60 in London as 66 stocks rose, 35 fell and 1 was unchanged. The FTSE All-Share Index gained 7.96, or 0.23 percent, to 3413.75.
Read more at Bloomberg Stocks News
The benchmark FTSE 100 Index rose 13.10, or 0.20 percent, to close at 6568.60 in London as 66 stocks rose, 35 fell and 1 was unchanged. The FTSE All-Share Index gained 7.96, or 0.23 percent, to 3413.75.
Read more at Bloomberg Stocks News
US CREDIT-KB Home's possible French sale neutral for credit
(Reuters) - KB Home on Friday it was considering several alternatives after receiving a 53.13 euros-per-share offer for its nearly 11 million share stake in Kaufman & Broad , totaling around 580 million euros . For details, see [ID:nN11384549]
The No. 5 U.S. home builder said it was evaluating the offer, which was below Kaufman & Broad's closing stock price of 60 euros, and was also considering a public or private offering of the shares, retaining the stake or other alternatives.
Read more at Reuters.com Bonds News
The No. 5 U.S. home builder said it was evaluating the offer, which was below Kaufman & Broad's closing stock price of 60 euros, and was also considering a public or private offering of the shares, retaining the stake or other alternatives.
Read more at Reuters.com Bonds News
Ford Motor Credit sells $1.5 bln debt in two parts
(Reuters) - Citigroup Global Markets, JP Morgan and Lehman Brothers were joint lead managers on the sale.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
New Century judge rejects bankruptcy trustee
(Reuters) - U.S. Trustee Kelly Beaudin Stapleton, acting for the U.S. Department of Justice, had urged Carey to name a trustee to replace management, citing the latter's alleged failure to ensure proper accounting and internal controls.
Irvine, California-based New Century had been one of the largest U.S. providers of home loans to people with poor credit histories before seeking protection from creditors on April 2.
Read more at Reuters.com Bonds News
Irvine, California-based New Century had been one of the largest U.S. providers of home loans to people with poor credit histories before seeking protection from creditors on April 2.
Read more at Reuters.com Bonds News
Treasuries Decline as International Investors Move From Government Debt
(Bloomberg) -- Treasuries fell a third day, as investors sold U.S. denominated debt amid weakness in international bond markets.
The Treasury market gave back earlier gains that followed a government report showing April consumer prices increased less than economists forecast, suggesting the Federal Reserve could hold rates steady. European government bond yields were at five- year highs after stronger-than-expected growth reports.
Read more at Bloomberg Bonds News
The Treasury market gave back earlier gains that followed a government report showing April consumer prices increased less than economists forecast, suggesting the Federal Reserve could hold rates steady. European government bond yields were at five- year highs after stronger-than-expected growth reports.
Read more at Bloomberg Bonds News
French restaurants group Flo doubles Q1 net profit
(Reuters) - The company, due to hold its annual meeting on Wednesday, said it planned 12 new restaurants in the second quarter of 2007 and at least 20 others in the second half.
"This programme of openings will weigh on operating margins in the second half," it said.
Read more at Reuters.com Market News
"This programme of openings will weigh on operating margins in the second half," it said.
Read more at Reuters.com Market News
Colombia's Peso Advances to 7-Year High on Anticipated Foreign Investment
(Bloomberg) -- Colombia's peso gained for a sixth day, trading at a seven-year high, on expectations higher interest rates will attract investment capital from abroad.
The currency has appreciated 12.2 percent against the dollar so far this year, the second most among 70 currencies tracked by Bloomberg, trailing only the Icelandic krona. Colombia's central bank in May 6 imposed lending limits to curb inflation and prevent the peso from strengthening further.
Read more at Bloomberg Currencies News
The currency has appreciated 12.2 percent against the dollar so far this year, the second most among 70 currencies tracked by Bloomberg, trailing only the Icelandic krona. Colombia's central bank in May 6 imposed lending limits to curb inflation and prevent the peso from strengthening further.
Read more at Bloomberg Currencies News
AIG lifts bid for 21st Century minority holders
(Reuters) - "It's in line with what people were expecting, and I'd expect the deal to close in 60 to 90 days," said analyst John Gwynn of Morgan, Keegan & Co.
Shares of 21st Century were up 74 cents, or 3.5 percent, at
Read more at Reuters.com Hot Stocks News
Shares of 21st Century were up 74 cents, or 3.5 percent, at
Read more at Reuters.com Hot Stocks News
RPT-US home builder sentiment sinks to 15-year low in May
(Reuters) - The NAHB/Wells Fargo Housing Market index dropped three points to 30 in May, matching the 15-year low set in September 2006, the group said.
Economists polled by Reuters had forecast the index would stay at April's 33 reading.
Read more at Reuters.com Economic News
Economists polled by Reuters had forecast the index would stay at April's 33 reading.
Read more at Reuters.com Economic News
Canadian Stocks Advance, Led by Banks, Financial Shares, LionOre Mining
(Bloomberg) -- Canadian stocks rose, led by financial shares including Royal Bank of Canada, as a report showing that inflation was less than expected last month in the U.S. allayed concerns that the Federal Reserve may raise borrowing costs.
Raw-materials producers were led higher by LionOre Mining International Ltd., whose shares jumped after Xstrata Plc. raised its takeover offer for the nickel miner.
Read more at Bloomberg Stocks News
Raw-materials producers were led higher by LionOre Mining International Ltd., whose shares jumped after Xstrata Plc. raised its takeover offer for the nickel miner.
Read more at Bloomberg Stocks News
Gold, Silver Gain on Speculation Fed Won't Raise U.S. Interest Rates Soon
(Bloomberg) -- Gold and silver rose in New York on speculation the U.S. Federal Reserve won't raise interest rates after a report showed inflation may be abating.
Higher rates often boost the value of the dollar and make holding the metals less attractive because they offer no fixed returns. Before today, gold was up 5 percent this year, while the dollar dropped 2.6 percent against the euro. Gold reached an 11-month high on April 20 as the euro headed to a record against the dollar a week later.
Read more at Bloomberg Commodities News
Higher rates often boost the value of the dollar and make holding the metals less attractive because they offer no fixed returns. Before today, gold was up 5 percent this year, while the dollar dropped 2.6 percent against the euro. Gold reached an 11-month high on April 20 as the euro headed to a record against the dollar a week later.
Read more at Bloomberg Commodities News
UPDATE 1-Oklahoma faults agents working for Humana
(Reuters) - The Times cited the commissioner, Kim Holland, as saying that some agents had enrolled members of the federal Medicare insurance program in Humana products that "they did not understand and did not want," and that at least 68 agents did not have licenses needed to sell insurance in Oklahoma.
The insurance department could not immediately be reached for comment.
Read more at Reuters.com Government Filings News
The insurance department could not immediately be reached for comment.
Read more at Reuters.com Government Filings News
Cocoa Falls Most in Two Weeks as Rain Aids Crops in Ivory Coast and Ghana
(Bloomberg) -- Cocoa in New York fell the most in more than two weeks as rain bolstered crops in Ivory Coast and Ghana, the biggest growers of the beans used to make chocolate.
The rain will moisten soils for the crop that usually flowers in April and May and is harvested in October, said Meteorlogix LLC in Woburn, Massachusetts. Weekly cocoa shipments at Ivorian ports rose 21 percent from a week earlier to 17,000 tons, London-based Sucden Ltd. said today in a report.
Read more at Bloomberg Commodities News
The rain will moisten soils for the crop that usually flowers in April and May and is harvested in October, said Meteorlogix LLC in Woburn, Massachusetts. Weekly cocoa shipments at Ivorian ports rose 21 percent from a week earlier to 17,000 tons, London-based Sucden Ltd. said today in a report.
Read more at Bloomberg Commodities News
UPDATE 1-Inflation still challenging - Fed's Minehan
(Reuters) - Noting the U.S. economy's resilience during times of stress, including energy shocks, a cooling housing market and wars in Iraq and Afghanistan, she said growth had been solid.
"All of these have occurred, yet the U.S. economy has performed in an extraordinarily smooth way, with GDP averaging 3 percent over that long period and unemployment down, at many times well below the level that was thought to be the harbinger of inflation when I joined the Federal Open Market Committee in 1994.
Read more at Reuters.com Bonds News
"All of these have occurred, yet the U.S. economy has performed in an extraordinarily smooth way, with GDP averaging 3 percent over that long period and unemployment down, at many times well below the level that was thought to be the harbinger of inflation when I joined the Federal Open Market Committee in 1994.
Read more at Reuters.com Bonds News
Chilean Peso Strengthens to One-Year Peak After U.S. Consumer Price Report
(Bloomberg) -- Chile's peso reached a one-year high after a U.S. government report showed consumer prices rose last month less than economists forecast, causing the dollar to drop on increased chances of lower interest rates.
``All factors today support a rise in the peso,'' said Benjamin Sierra, an economist at Bandesarrollo Administradora de Fondos, which manages pension-fund assets in Santiago.
Read more at Bloomberg Currencies News
``All factors today support a rise in the peso,'' said Benjamin Sierra, an economist at Bandesarrollo Administradora de Fondos, which manages pension-fund assets in Santiago.
Read more at Bloomberg Currencies News
ICA, Comerci, Endesa, Banco do Brasil, CCR: Latin Equity Market Movers
(Bloomberg) -- Mexico's main stock index gained, led by mobile-phone company America Movil SAB.
The Bolsa index rose 126.02, or 0.4 percent, to 29,892.35 at 10:36 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange gained 275.75, or 0.6 percent, to 50,786.51.
Read more at Bloomberg Stocks News
The Bolsa index rose 126.02, or 0.4 percent, to 29,892.35 at 10:36 a.m. New York time. The Bovespa index of the most-traded stocks on the Sao Paulo exchange gained 275.75, or 0.6 percent, to 50,786.51.
Read more at Bloomberg Stocks News
Home Depot profit disappoints
(Reuters) - Shares of the company, a component of the Dow Jones Industrial Average, fell 2.7 percent to $37.95 in electronic trading before the bell.
"Home Depot is going to need a turn in the industry to really energize earnings growth," said Bill Schultz, chief investment officer for McQueen, Ball & Associates.
Read more at Reuters.com Market News
"Home Depot is going to need a turn in the industry to really energize earnings growth," said Bill Schultz, chief investment officer for McQueen, Ball & Associates.
Read more at Reuters.com Market News
Bernanke: Market principles top new rules
(Reuters) - He said the rapid growth of the credit derivatives market and the increasing prominence of hedge funds did not warrant specific regulation to address possible risks that they pose.
"I will argue that central banks and other regulators should resist the temptation to devise ad hoc rules for each new type of financial instrument or institution," Bernanke said. "Rather, we should strive to develop common, principles-based policy responses that can be applied consistently across the financial sector to meet clearly defined objectives."
Read more at Reuters.com Government Filings News
"I will argue that central banks and other regulators should resist the temptation to devise ad hoc rules for each new type of financial instrument or institution," Bernanke said. "Rather, we should strive to develop common, principles-based policy responses that can be applied consistently across the financial sector to meet clearly defined objectives."
Read more at Reuters.com Government Filings News
Trials support Acambis' smallpox vaccine: FDA
(Reuters) - The company has no plans to make the vaccine, known as ACAM2000, available outside the U.S. government's stockpile, the Food and Drug Administration reviewers also said.
Shares of Acambis were up more than 3 percent on the London Stock Exchange after news of the FDA's review.
Read more at Reuters.com Hot Stocks News
Shares of Acambis were up more than 3 percent on the London Stock Exchange after news of the FDA's review.
Read more at Reuters.com Hot Stocks News
Europe Curbs Italy's Grant of Emission Permits Through 2012 By 6.3 Percent
(Bloomberg) -- The European Commission, the regulator of the world's biggest emissions trading program, forced Italy to reduce the number of carbon dioxide permits it grants in the five years through 2012 by 6.3 percent.
Italy can grant 195.8 million metric tons of permits in each year during the period, compared with 209 million requested by the nation's government, according to an official EU Web site. It's lower than 201 million tons forecast by analysts, according to the median estimate of five in a Bloomberg survey.
Read more at Bloomberg Energy News
Italy can grant 195.8 million metric tons of permits in each year during the period, compared with 209 million requested by the nation's government, according to an official EU Web site. It's lower than 201 million tons forecast by analysts, according to the median estimate of five in a Bloomberg survey.
Read more at Bloomberg Energy News
Gold, Silver May Decline Amid Speculation Dollar to Rebound Against Euro
(Bloomberg) -- Gold and silver prices, little changed in New York, may fall for the second-straight day on speculation the dollar's rebound against the euro from a record will reduce the appeal of the metals as alternative investments.
Gold generally moves in the opposite direction of the dollar, and five of the past six bear markets in the U.S. currency have led to a higher metal price. Before today, gold was up 5 percent this year while the euro climbed 2.7 percent against the dollar. Gold reached an 11-month high on April 20 as the euro headed to a record against the dollar a week later.
Read more at Bloomberg Commodities News
Gold generally moves in the opposite direction of the dollar, and five of the past six bear markets in the U.S. currency have led to a higher metal price. Before today, gold was up 5 percent this year while the euro climbed 2.7 percent against the dollar. Gold reached an 11-month high on April 20 as the euro headed to a record against the dollar a week later.
Read more at Bloomberg Commodities News
UPDATE 1-Brazil March retail sales rise more than expected
(Reuters) - Retail sales rose 1.1 percent in March from February, more than the 0.55 percent median forecast in a Reuters survey of 12 analysts. The estimates ranged from a drop of 0.2 percent to an increase of 1.6 percent.
Three of the four sectors surveyed for the month-on-month data showed an increase, the government's statistics agency IBGE said. The sector encompassing textiles, clothing and shoes led the gains, rising 2.7 percent, followed by a 1.3 percent increase in sales of furniture and appliances.
Read more at Reuters.com Economic News
Three of the four sectors surveyed for the month-on-month data showed an increase, the government's statistics agency IBGE said. The sector encompassing textiles, clothing and shoes led the gains, rising 2.7 percent, followed by a 1.3 percent increase in sales of furniture and appliances.
Read more at Reuters.com Economic News
UPDATE 2-SunTrust selling Coke stock; sees $530 mln savings
(Reuters) - Atlanta-based SunTrust, which keeps a copy of the original formula for Coca-Cola in a vault, said it recently sold 4.5 million Coke shares, or 9 percent of its 48.2 million shares. It expects by year end to decide what to do with the rest.
The projected cost savings are 33 percent higher than the $400 million SunTrust had expected in January.
Read more at Reuters.com Bonds News
The projected cost savings are 33 percent higher than the $400 million SunTrust had expected in January.
Read more at Reuters.com Bonds News
AEP reiterates 2007 earnings view
(Reuters) - Analysts on average expect the company to earn $2.92 a share before exceptional items, according to Reuters Estimates.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
N.Y. Fed manufacturing index rises in May
(Reuters) - The new orders component jumped to 8.02 from 3.94 in April, while the prices paid component fell to 34.44 from 40.48.
The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.
Read more at Reuters.com Economic News
The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.
Read more at Reuters.com Economic News
General Motors, Heartland, Home Depot, Wal-Mart: U.S. Equity 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. Share prices are as of 7:30 a.m. New York time.
Agilent Technologies Inc. (A US) rose $1.31, or 3.7 percent, to $37.22 in Germany. The world's biggest maker of scientific- testing equipment said third-quarter profit excluding some costs will be 46 cents to 50 cents a share on sales of $1.36 billion to $1.4 billion. Analysts on average estimated profit of 45 cents and sales of $1.35 billion, according to a Bloomberg survey.
Read more at Bloomberg Stocks News
Agilent Technologies Inc. (A US) rose $1.31, or 3.7 percent, to $37.22 in Germany. The world's biggest maker of scientific- testing equipment said third-quarter profit excluding some costs will be 46 cents to 50 cents a share on sales of $1.36 billion to $1.4 billion. Analysts on average estimated profit of 45 cents and sales of $1.35 billion, according to a Bloomberg survey.
Read more at Bloomberg Stocks News
Wal-Mart profit up; CEO not satisfied
(Reuters) - Earnings rose to $2.83 billion, or 68 cents per share, in the first quarter that ended April 30, from $2.62 billion, or 63 cents per share, a year earlier.
Analysts on average had been expecting profit of 68 cents per share, according to Reuters Estimates.
Read more at Reuters.com Business News
Analysts on average had been expecting profit of 68 cents per share, according to Reuters Estimates.
Read more at Reuters.com Business News
U.S. Stock-Index Futures Decline; Wal-Mart, Home Depot, Amgen Shares Fall
(Bloomberg) -- U.S. stock-index futures fell after Wal- Mart Stores Inc. forecast earnings that trailed analysts' estimates, adding to concerns inflation data today will keep the Federal Reserve from cutting interest rates as the economy weakens.
``We don't see a rate cut happening this year because inflation is there in the background,'' said Kevin Lyne-Smith, who helps oversee $100 billion as managing director at Julius Baer Holding AG's private-banking division in Zurich. ``We are underweight U.S. stocks. The economic slowdown is happening.''
Read more at Bloomberg Stocks News
``We don't see a rate cut happening this year because inflation is there in the background,'' said Kevin Lyne-Smith, who helps oversee $100 billion as managing director at Julius Baer Holding AG's private-banking division in Zurich. ``We are underweight U.S. stocks. The economic slowdown is happening.''
Read more at Bloomberg Stocks News
Home Depot posts lower-than-expected profit
(Reuters) - Earnings declined by about one-third to $1 billion, or 53 cents a share, in the first quarter ended on April 29, from $1.5 billion, or 70 cents a share, a year earlier.
Analysts on average expected profit of 59 cents a share, according to Reuters Estimates.
Read more at Reuters.com Business News
Analysts on average expected profit of 59 cents a share, according to Reuters Estimates.
Read more at Reuters.com Business News
UK fund says won't sell STATS ChipPAC shares to Temasek
(Reuters) - Temasek bid as much as S$2.44 billion for the 64.4 percent of STATS ChipPAC that it did not own.
"We will probably not tender our shares, but have no problem with others doing so," Jeremy Hosking, a co-founder of Marathon, said in an e-mailed statement late on Monday.
Read more at Reuters.com Mergers News
"We will probably not tender our shares, but have no problem with others doing so," Jeremy Hosking, a co-founder of Marathon, said in an e-mailed statement late on Monday.
Read more at Reuters.com Mergers News
Steel Partners lambasts Sapporo response to offer
(Reuters) - Sapporo has crafted its takeover defenses based on guidelines put together by the Ministry of Economy, Trade and Industry.
Analysts said there is no limit on how many times it can ask for additional information. It can also make the answers public.
Read more at Reuters.com Business News
Analysts said there is no limit on how many times it can ask for additional information. It can also make the answers public.
Read more at Reuters.com Business News
Shell, Metro, Diageo, Santander Plan to Sell Debt: European Bond Alert
(Bloomberg) -- The following is a list of bond sales denominated in euros or pounds and expected in the coming days and weeks.
Investment-Grade Sales
Read more at Bloomberg Bonds News
Investment-Grade Sales
Read more at Bloomberg Bonds News
Finland's Olkiluoto Reactor Shuts Down; Sweden's Forsmark Reduces Capacity
(Bloomberg) -- Teollisuuden Voima Oy, a Finnish power producer, halted production at the Olkiluoto-2 reactor. Vattenfall AB, the Nordic region's biggest utility, said it reduced capacity at the Forsmark nuclear plant in Sweden.
The 860-megawatt unit at Olkiluoto was stopped at 7:42 a.m. local time today, the plant's operator said in a note distributed by the Nord Pool ASA power exchange. No further details were provided.
Read more at Bloomberg Energy News
The 860-megawatt unit at Olkiluoto was stopped at 7:42 a.m. local time today, the plant's operator said in a note distributed by the Nord Pool ASA power exchange. No further details were provided.
Read more at Bloomberg Energy News
JPMorgan Says Buy Indian Bonds, Use Interest-Rate Swaps to Hedge Risk
(Bloomberg) -- Investors should buy India's bonds because inflation will slow and rising bank deposits will mean more money will flow into debt, according to JPMorgan Chase & Co., the third-biggest bank in the U.S.
Indian banks are required by the central bank to invest 25 percent of their deposits in government bonds. Deposits in India rose 22 percent in the year ended April 27, beating a 20 percent gain the previous year as the economy grew at the second-fastest pace among major economies, driving interest rates higher.
Read more at Bloomberg Bonds News
Indian banks are required by the central bank to invest 25 percent of their deposits in government bonds. Deposits in India rose 22 percent in the year ended April 27, beating a 20 percent gain the previous year as the economy grew at the second-fastest pace among major economies, driving interest rates higher.
Read more at Bloomberg Bonds News
OPEC sees no shortage of crude in market
(Reuters) - "We think there is no shortage of crude in the market at the moment," OPEC President and United Arab Emirates Oil Minister Mohammed al-Hamli told reporters on Tuesday, when asked about calls to boost output.
"The market is in balance... and fundamentals are in good shape now. We will increase supply if there is a need to or if the market needs it."
Read more at Reuters.com Hot Stocks News
"The market is in balance... and fundamentals are in good shape now. We will increase supply if there is a need to or if the market needs it."
Read more at Reuters.com Hot Stocks News
U.K. Pound Advances Before Inflation Report; House Prices Rose in April
(Bloomberg) -- The U.K. pound rose after an industry survey showed house prices rose last month and before a report that's forecast to show inflation breached the Bank of England's 2 percent target for a 12th month.
The pound advanced against 14 of the 16 most traded currencies today after the Royal Institution of Chartered Surveyors said the cost of homes rose, strengthening the case for Bank of England rate increases. A separate report may show consumer prices rose 2.8 percent from a year earlier after a 3.1 percent rate in March, the highest in a decade, according to a Bloomberg survey.
Read more at Bloomberg Currencies News
The pound advanced against 14 of the 16 most traded currencies today after the Royal Institution of Chartered Surveyors said the cost of homes rose, strengthening the case for Bank of England rate increases. A separate report may show consumer prices rose 2.8 percent from a year earlier after a 3.1 percent rate in March, the highest in a decade, according to a Bloomberg survey.
Read more at Bloomberg Currencies News
Aisling's Commodity Fund Raises New Capital, Almost Doubles, Coleman Says
(Bloomberg) -- The Merchant Commodity Fund, the best performer last year among 20 so-called relative-value funds managed in Asia, almost doubled its size after raising new capital from investors, an executive said.
Aisling Analytics Pte Ltd., the Singapore-based commodity hedge fund's management company, closed the fund at $856 million on April 30, Managing Director Michael Coleman said today. The fund, worth $450 million at the end of 2006, may grow to $900 million as additional, promised money arrives, he said.
Read more at Bloomberg Commodities News
Aisling Analytics Pte Ltd., the Singapore-based commodity hedge fund's management company, closed the fund at $856 million on April 30, Managing Director Michael Coleman said today. The fund, worth $450 million at the end of 2006, may grow to $900 million as additional, promised money arrives, he said.
Read more at Bloomberg Commodities News
Hyundai Merchant Falls to First-Quarter Loss on Container Rates, Currency
(Bloomberg) -- Hyundai Merchant Marine Co., South Korea's second-largest shipping line, reported a first-quarter loss compared with a year-earlier profit because of lower container rates and a stronger won.
Net loss totaled 8.96 billion won ($9.7 million) compared with a 137.7 billion won profit a year earlier, the Seoul-based company said in a regulatory filing today. Sales dropped 6.2 percent to 1.13 trillion won.
Read more at Bloomberg Emerging Markets News
Net loss totaled 8.96 billion won ($9.7 million) compared with a 137.7 billion won profit a year earlier, the Seoul-based company said in a regulatory filing today. Sales dropped 6.2 percent to 1.13 trillion won.
Read more at Bloomberg Emerging Markets News
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