Costly corn cuts hog producer profits: economist

(Reuters) - "The cost of corn comes in as the number one concern among big producers," said University of Missouri agricultural economist Glenn Grimes, who was on the sidelines at the World Pork Expo industry gathering this week.




"The odds are about 90 percent that we will see some red ink for at least one or two or three months this fall."


Read more at Reuters.com Business News

Lundin extends takeover bid for Rio Narcea Gold

(Reuters) - Lundin announced this week that it would sell silver
production from its Portuguese operations in an arrangement
with Silverstone Resources Corp. , a move that one
analyst said could raise cash to hike its bid for Rio Narcea or
to make a new bid for a different company.







Read more at Reuters.com Mergers News

Pacific Ethanol files shelf for $250 mln in stock

(Reuters) - The purposes may include its ethanol plant construction
program and acquisitions of ethanol production assets, the
filing said.




Under a shelf registration, a company may sell securities
in one or more separate offerings with the size, price and
terms to be determined at the time of sale.


Read more at Reuters.com Government Filings News

US STOCKS-Wall St rallies on cheaper oil, lower bond yields

(Reuters) - NEW YORK, June 8 - U.S. stocks closed higher on
Friday after a three-day slide as bond yields retreated and oil
prices fell, easing worries about rising borrowing costs and
inflation.




A flurry of encouraging corporate news, including a strong
monthly sales report from McDonald's Corp. lent
support.


Read more at Reuters.com Bonds News

GLOBAL MARKETS-Dollar hits 2-month high, bonds rebound

(Reuters) - NEW YORK, June 8 - The dollar jumped to a
two-month high on Friday as an earlier spike in U.S. government
bond yields lured buyers seeking higher returns, but signs of
calm on the Treasury market sparked a rebound on Wall Street.




The dollar's gains and rising bond yields pushed gold, oil
and other commodities sharply lower.


Read more at Reuters.com Bonds News

U.S. Steel shares surge after takeover report

(Reuters) - Shares of U.S. Steel rose in $9.65 to $125.45 in afternoon trading on the New York Stock Exchange.




U.S. Steel has been caught up in speculation as the sector consolidates due to growing global demand and declining resources. It has been linked to other companies in the past, including a report last fall in a Moscow newspaper that had Severstal buying the company.


Read more at Reuters.com Hot Stocks News

Sugar Rises After Slump in Prices to Lowest in Two Years Triggers Buying

(Bloomberg) -- Sugar in New York rose after a price
slump to a two-year low spurred buying and a holiday yesterday
in Brazil, the world's largest producer, reduced sales.

Futures on June 5 fell to 8.52 cents a pound, the lowest
since May 2005, as India, the second-biggest producer, prepares
to export raw sugar for the first time in the year starting in
October. Financial markets in Brazil were closed yesterday for
the Corpus Christi holiday and a slow pace of sales continued
today, said Alex Oliveira, vice president at Fimat USA LLC.


Read more at Bloomberg Commodities News

AMD shares rise after Lehman stock target hike

(Reuters) - Until Intel introduced its Core 2 microprocessor family about a year ago, AMD had been gaining market share against Intel with its Athlon and Opteron chips.




But Intel has fought back with the Core 2 and regained ground lost over the last two years to AMD. In the first quarter of this year, AMD lost more than 5 percentage points of market share, slipping below 20 percent.


Read more at Reuters.com Hot Stocks News

Smaller trade gap signals stronger growth

(Reuters) - The trade gap narrowed 6.2 percent to $58.5 billion from a downwardly revised estimate for March, the Commerce Department reported on Friday, adding to signs that U.S. economic growth could top 3 percent in the second quarter.




"The latest data will lead to further upward revisions given the marked improvement in the real trade numbers," said Alan Ruskin, chief international strategist at RBS Greenwich Capital in Greenwich, Connecticut.


Read more at Reuters.com Business News

Coffee Falls as Brazil and Colombia Sell Beans Following Three-Week Rally

(Bloomberg) -- Coffee fell in New York after Brazil
and Colombia sold beans to take advantage of a three-week rally.

Futures had jumped 15 percent since May 1 to a three-month
high on June 4. Brazil, the world's biggest coffee grower, and
Colombia, the third-largest, are locking in prices after some
sales by speculators, said George Saffadi, a trader with Olam
Americas Inc. in White Plains, New York.


Read more at Bloomberg Commodities News

Soybeans, Corn Fall as Wet, Warm Weather May Assist Growth of U.S. Crops

(Bloomberg) -- Soybeans in Chicago fell the most in
three months and corn dropped on speculation warm, wet weather
will improve early plant development in the U.S., the biggest
producer and exporter of both crops.

Some fields west of the Mississippi River and in parts of
Illinois will receive as much as twice the normal amount of rain
next week, while corn and soybeans to the east may get normal
rain, said David Salmon, a meteorologist for Weather Derivatives
in Belton, Missouri. More rain is expected to follow, with no
severe heat, he said.


Read more at Bloomberg Commodities News

Liquor Stores caps bitter Liquor Barn takeover

(Reuters) - The deal, which met with hostile resistance from Liquor Barn Chief Executive John Mather, creates a Western Canada retailer with 188 outlets and a market capitalization of about C$470 million.



Liquor Stores launched its unsolicited offer in April after initial approaches to Liquor Barn management in mid-2006 were rebuffed.


Read more at Reuters.com Mergers News

US STOCKS-Indexes rebound as bond yields simmer down

(Reuters) - NEW YORK, June 8 - U.S. stocks gained on Friday
after bond yields retreated from a sharp rise to 5.25 percent,
easing concerns about the impact of rising interest rates on
stocks.




Semiconductor shares were also a boon to the market after
National Semiconductor Corp. , an analog chip maker,
reported higher-than-expected profit and revenue. Qualcomm Inc.
said demand for its wireless chips is looking better
than expected.


Read more at Reuters.com Bonds News

Freddie Mac to return to timely filings

(Reuters) - "Next week, for the first time, we will return to timely quarterly reporting," said Richard Syron, the chairman and chief executive of Freddie Mac.



)


Read more at Reuters.com Bonds News

Brazil Real Heads for Biggest Weekly Loss Since May 2006 on Bond Sell-Off

(Bloomberg) -- Brazil's real headed for its largest
weekly loss since May 2006 after investors sold stocks and
bonds, driving up U.S. Treasury yields and reducing the allure
of riskier, emerging market assets.

The real appeared poised for its first down week in a
month as U.S. treasury yields soared to the highest in five
years. Many stock indexes in Asia and Europe were recording
weekly losses.


Read more at Bloomberg Currencies News

European Stocks Drop on Rate Concerns; Allianz, Barclays, BHP Pace Decline

(Bloomberg) -- European stocks dropped this week as
rising borrowing costs heightened concern profit growth in the
region will slow. Benchmarks were little changed today.

Allianz SE, the region's biggest insurer, and bank Barclays Plc
led declines by companies most sensitive to rising interest rates.
BHP Billiton Ltd. led mining shares lower as copper slid. BNP Paribas
SA limited the drop after Les Echos said Societe Generale SA is
studying a possible bid for its larger banking rival.


Read more at Bloomberg Stocks News

UPDATE 1-Kenexa buys recruitment process outsourcing firm

(Reuters) - Financial details of the deal were not disclosed.




The company slightly raised its second-quarter revenue
outlook to $43.6 million to $45.5 million from $43 million to
$44.9 million to reflect the impact of the acquisition.


Read more at Reuters.com Mergers News

Cadbury buys Romanian sweets group Kandia-Excelent

(Reuters) - Kandia-Excelent has a 20 percent share of Romania's 300 million euro-plus annual confectionery market behind Wm. Wrigley Jr. Co. at 22 percent and ahead of Kraft Foods Inc. at 19 percent. The market grew 17 percent in 2006. Cadbury, the world's largest confectionery group which makes Dairy Milk chocolate and Trident gum, has no operations in Romania but its Halls cough sweets are distributed there.



Cadbury is buying a 93.32 percent stake in the group from a private equity company managed by Meinl Bank AG, with the remaining stock listed on the Bucharest Stock Exchange.


Read more at Reuters.com Mergers News

Canadian Dollar Pares Declines as Nation's Trade Surplus Widened in April

(Bloomberg) -- The Canadian dollar pared losses
after a report showed the nation's trade surplus widened in
April to the biggest since July 2004.

Canada's dollar traded at 93.80 U.S. cents at 8:41 a.m. in
Toronto from 93.91 U.S. yesterday. One U.S. dollar buys C$1.066.
Earlier, the currency fell to 93.33 U.S. cents as a separate
report showed job growth slowed in May.


Read more at Bloomberg Currencies News

Eldorado Gold, Liquor Barn, Liquor Stores, Nortel: Canadian Equity Preview

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

The Standard & Poor's/TSX Composite Index fell 237.71, or 1.7
percent, to 13,703.88, yesterday in Toronto. The Canadian benchmark
has declined 2.9 percent since June 1, and is headed for its
steepest weekly loss since the week ended March 2.


Read more at Bloomberg Stocks News

Orkla, Alcoa seal Sapa aluminium parts venture

(Reuters) - "We are creating a global market leader in soft alloy
aluminium profiles that has potential for further growth," Sapa
Chief Executive Ole Enger said in the statement.




The ownership of the venture has provisionally be set at 54
percent for Orkla and 46 percent for Alcoa, Orkla said.


Read more at Reuters.com Mergers News

Emerging Market Debt, Currencies, Slump as Investors Turn More Risk Averse

(Bloomberg) -- Emerging market bonds and currencies
slumped as investors turned more risk averse in the wake of rising
global interest rates and inflation.

New Zealand and South Africa raised interest rates
yesterday, a day after the European Central Bank lifted its
benchmark rate to a six-year high. Fed Bank of Richmond President
said growth in the world's largest economy will rebound, reducing
the chances of a rate cut. An emerging market bond index compiled
by JPMorgan Chase & Co. yesterday dropped the most since October
2005 as demand waned for riskier assets.


Read more at Bloomberg Bonds News

European Government Bonds Extend Slide; 10-Year Yields at 4 1/2 Year High

(Bloomberg) -- European bonds slid, pushing 10-year
yields to the highest in more than 4 1/2 years, on speculation
central banks around the world will raise interest rates more
than anticipated to check quickening global growth and inflation.

Bunds fell with debt markets in the U.S. and Asia, sending
10-year benchmark yields, which reflect investors' perception of
future inflation, to the highest since October 2002. Traders
added to wagers on how far the European Central Bank will lift
its key rate this year after New Zealand and South Africa lifted
borrowing costs yesterday, triggering a global debt sell-off.


Read more at Bloomberg Bonds News

Dollar Touches Two-Month High Against Euro as Global Stock Markets Slump

(Bloomberg) -- The dollar rose against the yen and to
the highest in more than two months against the euro as equity
markets round the world dropped.

Global stocks have slumped and U.S. Treasury yields soared
to the highest in almost a year on expectations central banks
round the world will raise interest rates.


Read more at Bloomberg Currencies News

Stocks to open higher despite inflation worries

(Reuters) - "I could imagine that for now the nervousness will stay in the markets," David Pieper, analyst at German regional bank LBBW, said.




"The problem continues to be worries about inflation, which prompt some to lock in profits. I think we'll tend to weaker trade today again, with only second-tier data expected," Pieper added.


Read more at Reuters.com Hot Stocks News

European Stocks Drop on Bond Yields; Allianz, British Energy Lead Decline

(Bloomberg) -- European stocks fell for a fifth day,
the longest rout in three months, after surging bond yields
heightened concern borrowing costs in the region will rise.

Allianz SE, the region's biggest insurer, Barclays Plc and
utility British Energy Group Plc led declines by companies most
sensitive to rising interest rates. BHP Billiton Ltd. led mining
shares lower as copper slid. BNP Paribas SA limited declines
after Les Echos reported Societe Generale SA is studying a
possible bid for its larger banking rival.


Read more at Bloomberg Stocks News

Taiwan's Taishin to take 51 pct in Aegon venture

(Reuters) - TAIPEI, June 8 - Taishin Financial , Taiwan's No. 2 financial holding firm by assets, said on Friday it will take a 51 percent stake in a T$2 billion insurance joint venture to be formed with Dutch insurer Aegon NV .



Separately, Aegon will purchase a 2.5 percent stake of Chang Hwa Bank from Taishin and aims to use Taishin's network to market its products. Terms of that purchase were not disclosed. "This tie up indicates Aegon's strong ambition in the Taiwan market. We hope to sell more insurance and pension products through more than 200 branches of Taishin," an executive from Aegon's Taiwan office said at a news conference.


Read more at Reuters.com Mergers News

Carbon Dioxide Emission Permits Advance; German Electricity Price Declines

(Bloomberg) -- European Union carbon dioxide
emission permits rose for the first day in four, advancing as
much as 3 percent.

Emission permits for delivery in December 2008 rose as much
as 68 cents to 23.45 euros ($31) a metric ton, according to the
European Climate Exchange in Amsterdam. They were at 23.10 euros
a ton at 9:34 a.m. local time.


Read more at Bloomberg Energy News

Global stocks slide knocks FTSE, metals hit miners

(Reuters) - Britain's top share index slipped for a fifth day in a row on Friday, as European equities joined a global stock market sell-off triggered by a surge in U.S. Treasury bond yields, and as precious metals knocked miners.

Miners bore the brunt of the sell-off, hit by lower gold and copper prices. Anglo American dropped 1.2 percent, Xstrata lost 0.8 percent and Kazakhmys went down 0.9 percent.


Read more at Reuters Africa

Germany's DAX Index Falls for Fifth Day; MAN, Commerzbank, Siemens Retreat

(Bloomberg) -- German stocks retreated for a fifth
day, led by MAN AG, Commerzbank AG and Siemens AG.

The benchmark DAX Index lost 73.40, or 1 percent, to
7545.21 as of 9:04 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies also dropped 1 percent.


Read more at Bloomberg Stocks News

Sinopec Ventures With Exxon Mobil and Aramco Win Fuel Wholesale Licenses

(Bloomberg) -- China Petroleum & Chemical Corp.,
Saudi Arabian Oil Co. and Exxon Mobil Corp. were authorized to
distribute wholesale fuel products in China produced at their $5
billion refining and chemical joint ventures.

The Ministry of Commerce awarded licenses to Fujian Refining
& Petrochemical Co. and Sinopec SenMei (Fujian) Petroleum Co.,
while Sinopec SenMei is also permitted to store fuel products, it
said in a statement on its Web site today.


Read more at Bloomberg Emerging Markets News