Secret Weapon, Daughter Olivia, Helps Philadelphia Candidate Nutter Win

(Bloomberg) -- Philadelphia's next mayor may owe his
victory to a 12-year-old girl.

Michael Nutter, the former city councilman who won the
Democratic primary May 15, trailed in polls before a television
advertisement starring his daughter, Olivia, began airing April
1. In the 30-second spot, she visited Nutter's boyhood home,
played with the family dog and shared a pizza with the candidate
while assuring voters, ``My dad's pretty cool for an old guy.''


Read more at Bloomberg Exclusive News

U.S. job market looks less sturdy in hindsight

(Reuters) - According to the numbers, a meager 19,000 private-sector
jobs were created on net during the entire third quarter of
last year, in sharp contrast with the nearly half a million
reported in the closely watched payrolls survey.




That means employment may indeed have suffered the brunt of
the housing slump even if this retreat has yet to be reflected
in the monthly government data.


Read more at Reuters.com Economic News

Peru's Stocks Advance, Ending Six-day Decline: Latin American Equity

(Bloomberg) -- Peru's stocks rose, led by miners,
after investors bet that six days of losses and a recovery in
global metal prices made companies cheap relative to earnings.

The Lima General Index advanced 501, or 2.3 percent, to
21,974.47 at 2:27 p.m. New York time, its first gain since May 9.
Shares in Brazil and Mexico also advanced.


Read more at Bloomberg Stocks News

Oil Is Steady Amid Expectations of Increased Demand From U.S. Refineries

(Bloomberg) -- Crude oil in New York was little
changed amid signs that U.S. refineries will increase operating
rates as they try to replenish gasoline stockpiles.

Refineries operated at 89.5 percent of capacity last week
the third straight weekly gain, according to the Energy
Department. The profit margin for turning oil into fuels rose to
the highest since at least 1989 yesterday, based on closing
futures prices. Valero Energy Corp., ConocoPhillips and Murphy
Oil Corp. have shut units for repairs this week.


Read more at Bloomberg Energy News

US STOCKS-Indexes gain on takeovers, sentiment data

(Reuters) - NEW YORK, May 18 - U.S. stocks advanced on
Friday, sending the Dow to a record high and putting the S&P
500 on track for a 7th straight week of gains, as more takeover
activity and sentiment data boosted the outlook for equities.




News that consumer sentiment improved more than expected in
May despite rising gasoline prices reassured investors about
the economy's strength and supported the market.


Read more at Reuters.com Bonds News

Wheat Futures Fall as Growers Prepare to Harvest Larger U.S. Winter Crop

(Bloomberg) -- Wheat futures fell for the third
straight day in Chicago and Kansas City as U.S. farmers prepare
to harvest 24 percent more winter wheat than last year.

Growers are expected to harvest 1.62 billion bushels of
winter wheat compared with 1.3 billion last year, the U.S.
Department of Agriculture said last week. Farmers planted 8.7
percent more of the grain in October and November after prices
reached the highest in 10 years because of drought. Prices tend
to fall before the U.S. harvest in April and May.


Read more at Bloomberg Commodities News

Clear Channel agrees to raised $19.6 bln bid

(Reuters) - The U.S. radio station operator canceled a vote on a lower bid from the buyout groups scheduled for Tuesday, and said it will set a new date after filing a new proxy statement. Under the timetable set, that is likely to take place in August.




Clear Channel had been under shareholder pressure to postpone Tuesday's vote in order to allow Bain and T.H. Lee to raise their bid of $39 a share, or $19.5 billion, to $39.20 a share.


Read more at Reuters.com Mergers News

Nymex Natural Gas Is Little Changed Amid Outlook for Higher Temperatures

(Bloomberg) -- Natural gas in New York was little
changed after surging to its highest in more than five months on
concern about possible supply disruptions from hurricanes and
forecasts for hot summer weather.

Most of the U.S. is forecast to have warmer-than-average
weather from June to August, the Climate Prediction Center said
yesterday. La Nina conditions may affect U.S. weather patterns
later this year, the center said. A La Nina occurs when ocean
temperatures cool below normal, and it can alter conditions
around the globe.


Read more at Bloomberg Energy News

European stocks end at 6-1/2 yr highs as oils gain

(Reuters) - European shares ended Friday's session at their highest close in six-and-a-half years, boosted by oil producers and banks as merger and acquisition talk rippled through the market.

The FTSEurofirst 300 index of top European shares ended unofficially up 1.0 percent at 1,600.3, its highest close since December 2000.


Read more at Reuters Africa

Lebanon Plans to Sell First Bonds in Dollars Since Israeli Invasion

(Bloomberg) -- Lebanon plans to sell government
bonds denominated in dollars, its first issue of foreign-
currency debt since the Israeli invasion in July last year.

The sale, which will take place next week, will be managed
by Citigroup Inc. and Beirut-based BLOM Bank SAL, Lebanon's
largest lender, Citigroup said in an e-mailed statement today.
U.S. qualified buyers will be able to buy the bonds under rules
governing private placements, according to the statement.


Read more at Bloomberg Bonds News

S.African stocks boosted by Chinese rate decision

(Reuters) - South African stocks closed stronger on Friday, boosted by China's lower than expected rate hike which saw miners BHP Billiton and Anglo American soar over 2 percent.

"China's rate hikes came in lower than expectations, which was good for commodity prices. It was a global commodities story driving the market today," said Gryphon Asset Management Chief Investment Officer Abri du Plessis.


Read more at Reuters Africa

Medicare to cut reimbursement for Xopenex: analyst

(Reuters) - "It was expected that a ruling was coming, but I didn't expect them to cut it to the price of a generic," said LeCroy.




While Medicare did not specify the size of the price cut, only placing it in the same code as a generic drug called albuterol, LeCroy said he expected the drop to be as much as 70 to 80 percent and affect about 15 percent of Xopenex sales.


Read more at Reuters.com Hot Stocks News

American Medical gets FDA nod for prostate treatment device

(Reuters) - The device replaces the TherMatrx TMX2000, the statement
added.





Read more at Reuters.com Government Filings News

TREASURIES-Bonds turn negative in reaction to higher stocks

(Reuters) - NEW YORK, May 18 - U.S. Treasury debt prices fell
on Friday, reversing earlier gains to push benchmark yields to
one-month highs as stocks opened higher siphoning cash out of
the bond market.




Bond prices often move inversely to stocks as investors
allocate assets between lower-risk Treasuries and higher-risk
equities.


Read more at Reuters.com Bonds News

AQuantive, CalAmp, GE, Intuit, Juniper, ValueClick: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Shares prices are as of 10:20 a.m. New York time.

AQuantive Inc. (AQNT US) rose $27.79, or 77 percent, to
$63.66 and traded as high as $63.90. Microsoft Corp. (MSFT US)
agreed to buy the owner of the largest independent online-
advertising agency in a transaction valued at about $6 billion to
expand its online advertising services. AQuantive shareholders
will receive $66.50 in cash, Microsoft said in a statement,
almost double the company's last closing share price.


Read more at Bloomberg Stocks News

Credit Suisse Analysts Increase Price Forecasts for WTI, Brent Crude Oil

(Bloomberg) -- Credit Suisse Group, Switzerland's
second-biggest bank, raised its price forecast for U.S. West
Texas Intermediate and Brent grades of crude oil in the second
and third quarters.

The bank raised its estimate for West Texas Intermediate, or
WTI, to $63 a barrel from $62.50 a barrel, Credit Suisse analysts
led by Mark Flannery and Edward Westlake said in a note dated May
16. They raised estimate for Brent crude, the European benchmark,
to $66 a barrel for the same period from $60.50 a barrel.


Read more at Bloomberg Energy News

Malaysian Ringgit Leads Asian Currency Rally; China Widens Trading Bank

(Bloomberg) -- The Malaysian ringgit, which ended a
fixed exchange rate within an hour of China in July 2005, rose to
a 9 1/2-year high, leading a rally in Asian currencies after China
widened the yuan's trading band and raised interest rates.

The yuan will be allowed to move as much as 0.5 percent
either side of a daily fixing rate against the dollar, up from 0.3
percent, the People's Bank of China said in a statement in
Beijing. The central bank also raised interest rates for a fourth
time in the past year and ordered banks to put aside more money as
reserves as it tries to cool the economy and cut a record trade
surplus that has strained ties with the U.S.


Read more at Bloomberg Currencies News

Gold Rises From Eight-Week Low in New York as Dollar Falls; Silver Climbs

(Bloomberg) -- Gold in New York rose from its lowest
in eight weeks as a decline in the value of the dollar boosted
the appeal of the precious metal as a hedge against the U.S.
currency. Silver also climbed.

The dollar fell the most in a month against the yen after
China allowed its currency to strengthen at a faster pace and
raised interest rates to help cool an overheating economy. Gold,
which generally moves in the opposite direction of the U.S.
currency, reached an 11-month high on April 20 as the euro
headed toward a record against the dollar.


Read more at Bloomberg Commodities News

Copper Heads for Biggest Weekly Drop in 4 Months on China Economic Curbs

(Bloomberg) -- Copper in New York headed for its
biggest weekly drop in four months as China, the world's biggest
consumer of the metal, implemented measures to slow economic
growth.

China's government increased the amount its currency can
appreciate, raised interest rates and curbed bank loans to tame a
its booming economy, which expanded 11.1 percent in the three
months ended March 31, exceeding 10 percent for a fifth quarter.
The expansion in China has helped triple copper prices in the
past five years. Prices have plunged 8.7 percent this week on
speculation of slowing Chinese consumption.


Read more at Bloomberg Commodities News

Africa sees World Bank biter bit in Wolfowitz row

(Reuters) - Governments in Africa, whose reputation for corruption goes hand in hand with its status as the world's poorest continent, had grown used to being lectured by World Bank delegations, some headed by "Wolfie" himself, about good governance and transparency.




After weeks of wrangling, Wolfowitz resigned as World Bank president on Thursday over a row triggered by his involvement in a highly paid promotion for his companion.


Read more at Reuters.com Bonds News

AQuantive, CalAmp, GE, Intuit, Juniper, ValueClick: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Shares prices are as of 8:10 a.m. New York time.

AQuantive Inc. (AQNT US) rose $27.98, or 78 percent, to
$63.85. Microsoft Corp. (MSFT US) agreed to buy the owner of the
largest independent online-advertising agency in a transaction
valued at about $6 billion to expand its online advertising
services. AQuantive shareholders will receive $66.50 in cash,
Microsoft said in a statement, almost double the company's last
closing share price.


Read more at Bloomberg Stocks News

ValueClick says FTC investigating Web site marketing practices

(Reuters) - ValueClick said it intends to fully cooperate with the
FTC.





Read more at Reuters.com Government Filings News

PPL to sell El Salvadoran unit for $180 mln

(Reuters) - PPL said it expects to record an after-tax gain between $88
million to $93 million, or 22 cents to 23 cents per share, in
the second quarter due to the sale.




Read more at Reuters.com Market News

Tax, power, prices limit rural Africa mobile use

(Reuters) - Africans in rural areas still have limited access to telecoms services, but lower taxes, cheaper handsets and less costly power for transmitting stations would boost their numbers, operators said on Friday.

Mobile phone use has surged in the world's poorest continent, but the penetration rate is still only 21 percent of the total population, and subscribers are mostly in urban areas.


Read more at Reuters Africa

Autodesk, Cypress, Focus Media, Iconix, Informatica: U.S. Equity Preview

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

Autodesk Inc. (ADSK US): The maker of software for
architects and designers predicted revenue of as much as $2.15
billion this year. That topped the average estimate of $2.10
billion from analysts surveyed by Bloomberg. The shares declined
50 cents, or 1.1 percent, to $43.30 in regular trading
yesterday.


Read more at Bloomberg Stocks News

British Airways admits price-fixing breaches

(Reuters) - BA shares fell 3.7 percent by 1157 GMT as the provision -- more than half the year's profit -- accompanied a 13 percent decline in operating profit. New taxes, strike threats and tighter security measures ate into passenger traffic during the year.




BA, Europe's third biggest airline, is being investigated by the UK and the United States for alleged price fixing on fuel surcharges, after British investigators were tipped off by rival Virgin Atlantic.


Read more at Reuters.com Mergers News

Yen Advances After China Raises Interest Rates, Widens Yuan Trading Band

(Bloomberg) -- The yen rose against the dollar and the
euro after China's central bank raised interest rates for a second
time this year and widened the yuan's daily trading limit against
the U.S. currency.

The yen rose as high as 120.93 against the dollar after
previously trading at 121.34. It was at 121.05 at 11:43 a.m. in
London, compared with 121.31 late yesterday. The Japanese currency
also gained to as high as 163.07 per euro, before trading at
163.19, from 163.70 yesterday.


Read more at Bloomberg Currencies News

U.K. Pound Falls to Six-Week Low Versus Dollar as Retail Sales Slump

(Bloomberg) -- The U.K. pound fell to a six-week low
versus the dollar after a government report showed retail sales
unexpectedly declined in April, easing pressure on the central
bank to increase interest rates.

Sales fell 0.1 percent in March, economists had expected an
increase of 0.6 percent, according to the median of 35 estimates
in a Bloomberg News survey. Slowing economic growth may prompt
the central bank to limit future rate rises, futures prices show,
reducing the appeal of assets denominated in pounds.


Read more at Bloomberg Currencies News

U.S. Stock-Index Futures Rise; GE, Intuit, Verizon Advance in Europe

(Bloomberg) -- U.S. stock-index futures rose on speculation mergers and acquisitions will increase.

General Electric Co. gained in Europe on expectations the world's biggest maker of medical-imaging machines will sell its plastic unit to Saudi Basic Industries Corp. for about $11 billion.


Read more at Bloomberg Stocks News

Hungarian Forint Set for Weekly Decline; Bank May Lower Rates Next Week

(Bloomberg) -- The Hungarian forint is set to log the fourth consecutive week of losses on speculation the central bank may cut interest rates as soon as next week.

The forint is the worst performer versus the euro so far this month, falling 2 percent. Policy makers will probably cut the benchmark rate, the highest in the EU, by a quarter-point at their next meeting on May 21, a Bloomberg News survey shows. The bank has left the key rate at 8 percent since October.


Read more at Bloomberg Currencies News

U.K. Working-Day Electricity Rises, Bolstered by Power Premium in France

(Bloomberg) -- U.K. power for delivery on the next working day jumped on expectations that some traders would take advantage of higher prices in neighboring France.

U.K. working-day-ahead baseload power increased 33 percent to trade at 28 pounds ($55.31) a megawatt hour, compared with a last price of 21 pounds yesterday for electricity delivered today, according to prices on Bloomberg from the energy broker GFI Group Inc. The average price for working-day power this week was 23.70 pounds a megawatt hour.


Read more at Bloomberg Energy News

Cadbury and oils boost FTSE but BA falls

(Reuters) - The FTSE 100 of Britain's leading shares edged up on Friday, with London-based drinks and sweets company Cadbury Schweppes and oil stocks supporting, while British Airways weighed.

At 0719 GMT, the FTSE 100 was 18.7 points, or 0.3 percent higher at 6,598.0, with many investors looking to UK retail sales data for April and University of Michigan consumer sentiment index, for future direction later in the session.


Read more at Reuters Africa

Shanghai copper 5-pct limit down on LME, stocks

(Reuters) - Shanghai copper prices fell by their 5 percent limit on Friday and London futures extended their near-5 percent fall in the previous session as investors fretted about oversupply and rising stocks.

Shanghai August copper ended at 61,360 yuan a tonne, down 3,230 yuan from Thursday's settlement.


Read more at Reuters Africa

India Plans to Boost Coal Production, Curb Imports to Supply Power Plants

(Bloomberg) -- India, which uses coal to power half of its electricity-generation capacity, plans to boost output 6.8 percent in the year to March 2008 as demand rises, a minister said. Imports may decline by more than a quarter.

The South Asian nation plans to mine 462 million metric tons of the fuel in the 12-month period compared with 433 million tons a year earlier, Dasari Narayana Rao, mines minister, said in a written reply to Parliament in New Delhi.


Read more at Bloomberg Energy News

Realia Borrows 1.6 Billion Euros to Refinance SIIC de Paris Acquisition

(Bloomberg) -- Realia Business SA, the Spanish real- estate developer, is borrowing 1.6 billion euros ($2.2 billion) to refinance the acquisition of SIIC de Paris and other debt.

The 10-year loan is in two parts paying margins of as much as 85 basis points more than Euribor, a benchmark for borrowing, according to a banker with direct knowledge of the deal.


Read more at Bloomberg Bonds News