Anglo to decide next year on Peru's Quellaveco

(Reuters) - Anglo American, the world's third largest mining company, said on Wednesday it will decide in the first half of 2008 whether to develop its Quellaveco copper project in southern Peru.

The Anglo-South African company, which has an 80 percent stake in the project, said it expects to complete a feasibility study around then.


Read more at Reuters Africa

Air France-KLM, Scor, Trigano and Ubisoft May Move: French Equity Preview

(Bloomberg) -- Shares of the following companies may
rise or fall on the Paris stock exchange. Symbols are in
parentheses after company names and prices are from the last
close.

The CAC 40 Index today rose 30.48, or 0.5 percent, to
6120.20. The SBF 120 Index also added 0.5 percent.


Read more at Bloomberg Stocks News

Gold inches up but weigh down by dollar's rise

(Reuters) - Gold crept up but stayed on the defensive on Thursday, pressured by technical selling after it failed to break an important chart level, with funds also keen to sell given the dollar's strength.

Gold moved in a tight range ahead of data on U.S. durable goods orders and new home sales later in the day, which should offer new leads to the dollar and precious metals.


Read more at Reuters Africa

European Government Debt May Fall Before German Business Confidence Report

(Bloomberg) -- European bonds may fall before the
release of a report today expected to show German business
confidence increased to a record in May.

Benchmark debt slid yesterday, sending two-year note yields
to the highest in five years, after a government report showed
Italian retail sales rose more than expected in March. Bunds may
extend their declines before a Gfk AG report tomorrow likely to
show German consumer confidence also rose last month.


Read more at Bloomberg Bonds News

Temasek May Join Singapore Bid for China Eastern Air, Morgan Stanley Says

(Bloomberg) -- Temasek Holdings Pte, a Singapore
state-owned investment company, may join its unit Singapore
Airlines Ltd. to bid for a stake in China Eastern Airlines Corp.,
Morgan Stanley said.

A joint investment with Temasek, which owns 56 percent of
Singapore Airlines, means the carrier can gain ``strategic''
control of China Eastern without paying entirely on its own,
analysts Chin Lim, Sophie Loh and Edward Xu wrote in a report.


Read more at Bloomberg Emerging Markets News

U.S. Congress Brands China Trade Accords Inadequate, Considers Sanctions

(Bloomberg) -- Congress branded yesterday's U.S.-
China agreements on financial services and aviation inadequate
and moved to consider new trade measures against China even as
Vice Premier Wu Yi met with lawmakers.

The Senate Banking Committee considered legislation
yesterday that would allow companies to petition for new duties
on Chinese products. The House Ways and Means Committee will
consider a similar measure, chairman Charles Rangel said.


Read more at Bloomberg Emerging Markets News

Philippine Peso Gains to Spur Growth, Cut Interest, Budget Secretary Says

(Bloomberg) -- The Philippine economy may grow at the
fastest pace in three years in 2007 as an appreciating peso cuts
interest payments on the government's debt, freeing up capital
for spending, Budget Secretary Rolando Andaya said.

A 6.3 percent gain in the peso this year may save 23.8
billion pesos ($515.7 million) in interest, Andaya said in an
interview in Manila. Strength in the currency has already shaved
15 billion pesos off the 318 billion pesos allocated for interest
payments in 2007, Budget Director Gisela Lopez said.


Read more at Bloomberg Currencies News

China Asks Japan, Korea to Pay 44 Percent More for Coal Imports This Year

(Bloomberg) -- Chinese coal exporters sought to
boost their prices as much as 44 percent in Japan and South
Korea this year as output failed to keep pace with power station
consumption in Asia, six officials at the companies said.

Sellers led by China National Coal Group want to raise
prices as much as $22.90 a metric ton to $75, excluding freight,
said the officials, asking not to be identified because the
negotiations aren't completed. Japanese and Korean importers
said $65 is their maximum offer. Talks yesterday entered a
second round after deadlock in late March.


Read more at Bloomberg Energy News

U.S. Treasury Yields Hold Near Four-Month High as Bets on Rate Cut Reduced

(Bloomberg) -- U.S. 10-year yields held close to the
highest since January after traders cut back on bets the Federal
Reserve will reduce interest rates in 2007.

Signs of growth in the economy along with a two-month gain
in the benchmark U.S. stock indexes have pushed 10-year yields
up 35 basis points since the first week of March. Orders for
durable goods rose for a third month in April, according to a
Bloomberg News survey of economists before the Commerce
Department reports the figure today.


Read more at Bloomberg Bonds News

Formosa Petrochemical, Hon Hai, AU Optronics: Taiwan's Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Taiwan trading. Stock symbols are in brackets after the
company names. The preview includes news that broke after markets
shut. Prices are from yesterday's close unless otherwise stated.

The Taiex index rose 33.16, or 0.4 percent, to 8221.79.
Futures due in June added 0.3 percent to 8204.


Read more at Bloomberg Stocks News

Japan's April Crude Oil Imports Decline 16 Percent, Finance Ministry Says

(Bloomberg) -- Imports of crude oil by Japan, the
world's largest consumer of oil after the U.S. and China, fell
16 percent in April from a year earlier.

The country brought in 19.6 million kiloliters (123 million
barrels) of oil last month, the Ministry of Finance said in a
report in Tokyo today.


Read more at Bloomberg Energy News

CA sees 2008 outlook below estimates, shares fall

(Reuters) - But CA Chief Financial Officer Nancy Cooper expects fiscal first quarter "head winds," including lower single-installment contracts to result in a decrease of cash collections of about $85 million and additional tax payments of some $50 million.




But she told an investor conference call she was still confident about meeting the company's full-year target.


Read more at Reuters.com Hot Stocks News

Fitch cuts GM's unsecured debt rating

(Reuters) - Fitch downgraded GM's senior unsecured debt rating one
notch to "B-minus," the sixth lowest junk rating, from "B."
GM's issuer default rating remains at "B," five levels into
junk, but is still on watch for a downgrade.




Read more at Reuters.com Bonds News

UPDATE 1-AES quarterly profit falls on higher costs

(Reuters) - Net income fell by more than 60 percent to $51 million, or
8 cents per share, from $140 million, or 21 cents per share, in
the year-ago quarter.




Revenues rose to $3.1 billion from $3 billion.


Read more at Reuters.com Market News

RPT-GLOBAL MARKETS-US stocks rattled by Greenspan; dollar falls

(Reuters) - By Herbert Lash




NEW YORK, May 23 - U.S. stocks ended slightly
lower on Wednesday, erasing gains after a warning by former
Federal Reserve Chairman Alan Greenspan on Chinese stocks,
while the dollar fell on indications that interest rates in
Europe could rise more than previously thought.


Read more at Reuters.com Bonds News

India Poised to Grow Faster Than China Among World's Top Carmaking Nations

(Bloomberg) -- A cacophony of horns, revving engines
and squealing brakes fills Jagdish Khattar's 11th-floor office
in Connaught Place, New Delhi's central business district.

The company Khattar runs, Maruti Udyog Ltd., makes half of
the cars jostling on India's roads this March morning, and every
automaker on the planet is fighting to add its vehicles to his
traffic jam.


Read more at Bloomberg Exclusive News

UPDATE 1-Gymboree sees Q2 earnings above Street view

(Reuters) - Gymboree forecast earnings of 10 cents to 12 cents a share
for the quarter, topping analysts' estimates for earnings of 9
cents a share.




The company also said it expects a low- to mid-single digit
rise in same-store sales for the quarter.


Read more at Reuters.com Market News

US STOCKS-Wall Street closes lower on China worries

(Reuters) - Greenspan said he feared a "dramatic contraction" in
Chinese stocks after the recent boom, adding the run-up was
"clearly unsustainable." [ID:nMDT004118]




The comments come almost three months after a sharp drop
in Chinese stocks on concerns about speculative investments
triggered a global equity rout.


Read more at Reuters.com Bonds News

Denbury evaluates alternatives for Louisiana assets

(Reuters) - Production from the Denbury's Louisiana properties that are
being evaluated had proved reserves of about 45.2 Bcfe as of
Dec. 31, 2006.





Read more at Reuters.com Mergers News

Regulator sees stated income subprime problem

(Reuters) - Comptroller of the Currency John Dugan said the use of a borrower's stated income, without verification, had helped increase mortgage delinquencies and foreclosures in combination with other lax underwriting standards.




Regulators must decide whether to address the practice in finalizing proposed guidance on subprime lending, Dugan said in a speech to the Neighborhood Housing Services of New York.


Read more at Reuters.com Bonds News

UPDATE 1-Spectrum Brands CEO steps down

(Reuters) - The departure of Jones, 57, comes less than two weeks after
Spectrum posted a hefty quarterly loss, pressured by a major
impairment charge, and signaled that it may be months before it
sells any assets.




The company, which grew rapidly through acquisitions during
Jones' tenure, has been trying to sell its home and garden
business for months and is looking at selling other assets.


Read more at Reuters.com Mergers News

US SEC eyes easing small company capital raisings

(Reuters) - The proposals are not rules and the commission must still
vote to adopt the order after a public comment period.




Another measure would allow small businesses, those with a
public float under $75 million, to shorten the holding period
for restricted securities, which are acquired in unregistered,
private sales from an issuer or its affiliate.


Read more at Reuters.com Mergers News

Wheat Futures Rise in Chicago After Wind Topples Freeze-Damaged Plants

(Bloomberg) -- Wheat rose in Chicago and Kansas City
after high winds in the central U.S. toppled some of the plants
damaged by a freeze in April.

Temperatures on April 7 fell as low as 17 degrees Fahrenheit
(minus 8 Celsius) from Kansas to Ohio. A freeze at those
temperatures can make wheat stems much more susceptible to
damage, according to a report from Kansas State University.


Read more at Bloomberg Commodities News

UPDATE 1-US SEC adopts new rules on credit rating agencies

(Reuters) - WASHINGTON, May 23 - The U.S. Securities and
Exchange Commission adopted new rules on Wednesday giving it
greater authority over credit rating agencies and aiming to
foster competition in an industry dominated by three
companies.




The investor protection agency's commissioners voted 5-0 at
an open meeting to approve the regulations implementing
legislation approved by Congress last year.


Read more at Reuters.com Government Filings News

EU Consumption of Ethanol to Outpace Biodiesel by 2020, Association Says

(Bloomberg) -- Ethanol consumption in the European Union
may exceed that of biodiesel by 2020 due to lack of feedstocks for
the latter, according to the European Bioethanol Fuel Association, or
eBio, which represents the region's ethanol producers.

The 27-nation EU wants biofuels to make up an average 5.75
percent of transportation fuel by 2010 and 10 percent by 2020, in an
effort to reduce dependence on fossil fuels and curb greenhouse-gas
emissions. Biodiesel constitutes about 80 percent of EU biofuels
production, according to research company Frost & Sullivan Inc.


Read more at Bloomberg Energy News

UPDATE 2-BCE in talks with Cerberus group, stock rises

(Reuters) - TORONTO/VANCOUVER, May 23 - BCE Inc. , private.


Read more at Reuters.com Mergers News

Eaton Vance earnings fall, share price rises

(Reuters) - Net income slipped to $23.1 million, or 17 cents per diluted share during the second fiscal quarter that ended April 30, from $39.9 million, or 29 cents, a year ago. The cost of launching the new fund cut earnings by 25 cents.




Still, Eaton Vance's share price, which has surged more than 53 percent in the last 12 months, climbed again on Wednesday after the earnings topped Wall Street analysts' average forecast of 16 cents, according to Reuters Estimates.


Read more at Reuters.com Hot Stocks News

Fed proposes clearer credit-card terms

(Reuters) - "The purpose is to avoid the 'gotcha' moments," Fed Governor Kevin Warsh said at an open meeting to discuss the first major review of the rules for "open-end" credit since 1981.




To address frustrations by consumers sometimes surprised by their statements, the proposals seek to expand the summary table to include fees and interest rates for balance transfers, cash advances, late payments and over-the-limit levels.


Read more at Reuters.com Government Filings News

Cotton Declines After Inventories Increase in U.S., Surplus Damps Demand

(Bloomberg) -- Cotton futures tumbled 2 percent as
inventories increased, spurring speculation that a surplus is
damping demand.

Stocks almost tripled to 705,387 bales from a year earlier,
the New York Board of Trade said today on its Web site. The
exchange monitors warehouses in four cities in Texas, Tennessee
and South Carolina. A bale weighs 480 pounds. Futures have
dropped 12 percent this year amid forecasts for the largest
surplus in 40 years.


Read more at Bloomberg Commodities News

Tate & Lyle Shares Fall After Company Says Splenda Costs Will Hurt Profit

(Bloomberg) -- Tate & Lyle Plc, once the world's biggest
sugar refiner, said costs to increase production of Splenda and
defend the patent on the sweetener will hurt profit this year.

Shares of the London-based company fell 6.2 percent, the most in
four months. Net income was 214 million ($422.6 million), or 43.6
pence a share, in the 12 months ended March 31, according to a
statement released today. Tate had a net loss of 30 million pounds,
or 6.3 pence a share, a year earlier, because of writedowns.


Read more at Bloomberg Stocks News

Fed to review inflation gauges

(Reuters) - One of the issues policymakers have wrestled with is which
benchmark to study if the Fed decides to adopt an explicit
numerical target for inflation. It is due to reexamine the
topic of communications strategy, including inflation
targeting, at its next policy meeting in June.




Economists complain that every measure of inflation has one
shortcoming or another.


Read more at Reuters.com Bonds News

U.S., China reach new aviation services agreement

(Reuters) - The United States will designate three additional passenger carriers to fly to China -- one in 2007 and two in 2009.




The two sides also agreed to resume negotiations in 2010 on a timetable for full liberalization of the aviation sector, or "open skies."


Read more at Reuters.com Government Filings News

AngloGold to boost uranium output, eye deals

(Reuters) - South Africa's AngloGold Ashanti plans to boost its uranium capacity by about a quarter to 1.9 million lbs per year by 2009 and is seeking further opportunities in the sector, its chief executive said on Wednesday.

From 2009, uranium will become more lucrative for the firm since it will be able to renegotiate low-priced contracts, Bobby Godsell told the Reuters Global Mining and Steel Summit in London by telephone from Johannesburg.


Read more at Reuters Africa

Oil Rises on Concern Refiners May Not Keep Up With Growing Gasoline Demand

(Bloomberg) -- Rates to ship crude oil in the
Caribbean basin rose, rebounding from a 12 percent drop last
week, on signs of increased demand from U.S. refineries.

Four Aframax tankers, which can each transport about 600,000
barrels of oil, were hired today to move crude from the Caribbean
to the U.S. for an average rate in the industry Worldscale
measure of WS 155, an increase of 3.3 percent from the day
before, according to a daily report from Lone Star, R.S. Platou
in Houston.


Read more at Bloomberg Energy News

America Movil, Aeroportuario Sureste and Homex: Mexican Equity Movers

(Bloomberg) -- Mexico's main stock index rose to a
record for the sixth session, led by mobile-phone company America
Movil SAB.

The Bolsa index rose 84.60, or 0.3 percent, to 30,886.85 at
10:03 a.m. New York time.


Read more at Bloomberg Stocks News

Sugar Rises as Brazil Devotes More of Record Cane Crop to Making Ethanol

(Bloomberg) -- Sugar in New York rose as Brazil, the
largest producer of the sweetener, plans to use most of this
year's record sugarcane crop to make ethanol.

Producing the fuel will consume 53 percent of Brazil's
cane, compared with 49 percent last year, Eduardo Carvalho, head
of Brazil's Center-South Sugar and Ethanol Industry Association,
said May 21. Brazil will harvest 513.1 million metric tons this
year, up 13 percent from 2006, the government said May 10.


Read more at Bloomberg Commodities News

American Technology, Bristow, Lumera, Northfield: 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 10:10 a.m. New York time.

Advanced Analogic Technologies Inc. (AATI US) rose $1.44, or
18 percent, to $9.45 and traded as high as $9.90. The maker of
power-management chips for mobile phones and computers said Judge
Sidney Harris of the U.S. International Trade Commission ruled
the company didn't infringe Linear Technology Corp.'s (LLTC US)
patents. Shares of Linear fell 85 cents, or 2.3 percent, to
$36.28.


Read more at Bloomberg Stocks News

Gaz de France Merger With Suez Makes Sense, Should Be Pursued, Chief Says

(Bloomberg) -- Gaz de France SA, the operator of
Europe's biggest natural-gas network, said a merger with Suez SA
would make ``industrial sense'' and should be pursued.

Progress on the merger of the two Paris-based utilities is
expected in the ``coming weeks and months,'' GDF Chief Executive
Officer Jean-Francois Cirelli said at the company's annual
shareholders meeting today.


Read more at Bloomberg Energy News

Freddie Mac sells $4 billion 2-year reference notes

(Reuters) - The joint lead managers of the sale were Bear Stearns,
Citigroup Global markets and Credit Suisse.




Including today's offering, Freddie Mac has issued $25
billion of reference notes in 2007 and will have about $238
billion in reference notes and bonds outstanding.


Read more at Reuters.com Bonds News

Nymex Gas Falls on Expectations of Larger-Than-Normal U.S. Inventory Gain

(Bloomberg) -- Natural gas in New York fell ahead of
tomorrow's government report on stockpiles that analysts
anticipate will show an above-average increase for last week.

Gas supplies held in underground caverns last week may have
jumped 96 billion cubic feet, based on the average of 13
estimates in a Bloomberg survey of analysts. Storage levels rose
95 billion for the week ended May 11, an Energy Department report
last week showed.


Read more at Bloomberg Energy News

UPDATE 1-Chile GDP accelerates in first quarter

(Reuters) - In the fourth quarter GDP rose 4.3 percent compared with a
year earlier.




Chile GDP grew 5.0 percent in the first quarter last year
versus the same period a year earlier, the central bank said.


Read more at Reuters.com Economic News

China Plans to Increase Flexibility in Yuan Rate, Central Bank's Zhou Says

(Bloomberg) -- People's Bank of China Governor Zhou
Xiaochuan said China plans to further increase flexibility in its
currency's exchange rate.

``We will continue to follow the three principles of
exchange-rate reform and increase the flexibility of the yuan,''
Zhou told reporters before entering the second day of talks
between U.S. and Chinese economic leaders in Washington. He said
that while the yuan was brought up in yesterday's sessions, the
format didn't allow for detailed discussions.


Read more at Bloomberg Currencies News

Roche says resolves CoaguChek reliability issue

(Reuters) - Roche said the potential for inaccurate test results, which prompted the Food and Drug Administration to issue an alert on CoaguChek, was caused by too little of the thromboplastin active ingredient on selected test strips.



Healthcare professionals no longer have to carry out duplicate tests to confirm results from some CoaguChek strips, Roche said.


Read more at Reuters.com Government Filings News

French Stocks Rise; Suez, Gaz de France, Alcatel, Dexia Lead the Gains

(Bloomberg) -- French stocks advanced, led by Suez SA
and Gaz de France SA. Alcatel-Lucent led telephone-related stocks
higher.

The CAC 40 Index rose 20.36, or 0.3 percent, to 6110.08 at
2:13 p.m. in Paris. The SBF 120 Index also added 0.3 percent.


Read more at Bloomberg Stocks News

Alcan, LionOre Mining, Magna International, Nortel: Canada Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets.
This preview includes news that broke after markets closed. Symbols
are in parentheses after company names and prices are from the last
close.

The Standard & Poor's/TSX Composite Index rose 6.85, or 0.1
percent, to 14,112.19 yesterday.


Read more at Bloomberg Stocks News

Corporate Bond Risk Falls to a Two-Month Low, Credit-Default Swaps Show

(Bloomberg) -- The perceived risk of owning U.S.
corporate bonds fell to a two-month low, according to traders
who bet on creditworthiness in the credit-default swaps market.

Contracts based on $10 million in debt included in the CDX
North America Crossover Index declined $2,000 to $144,000 at
7:39 a.m. in New York, according to Deutsche Bank AG. The index
includes 35 companies with investment-and-speculative grade
ratings. The CDX North America Investment Grade Index of 125
companies dropped $375 per $10 million to an offered price of
$34,125.


Read more at Bloomberg Bonds News

Dillard's posts lower quarterly profit

(Reuters) - The latest earnings included a $4.1 million hurricane
recovery gain.




Read more at Reuters.com Market News