Gold retreats after rally, Tokyo hits 2-week high

(Reuters) - Gold paused for breath after a rally the previous day, while the most active contract in Tokyo futures rose to its highest in nearly two weeks on a weaker yen and gains in New York.

Silver weakened and palladium barely moved but platinum rebounded in line with rises in Tokyo futures, where the benchmark contract held near a record high.


Read more at Reuters Africa

Nissan to unveil dividend steps in new midterm plan

(Reuters) - He also repeated that Nissan/Renault was not in
alliance talks.




Asked whether he was interested in buying Ford Motor Co's
's luxury brands that the U.S. carmaker is considering
selling, he said: "I don't believe in buying brands. It's not in
the interest of either Nissan or Renault."


Read more at Reuters.com Mergers News

Kerzner, MGM Mirage in talks for Vegas casino: report

(Reuters) - Separately, MGM Mirage's majority-owner, Kirk Kerkorian, is on the verge of withdrawing his plan to buy two of the company's properties, partly as a result of the Kerzner joint venture, the Journal said, citing people familiar with the matter.




Kerzner and MGM Mirage were not immediately available for comment.


Read more at Reuters.com Business News

Euro Interest Rate Swap Options Volatility to Rise on ECB Bets, ING Says

(Bloomberg) -- Volatility on options on two-year
interest rate swaps in Europe will likely rise faster than those
on longer maturities as investors speculate on when the country's
central bank will stop raising rates, according to ING Bank NV.

Investor uncertainty on the timing and direction of next
interest rate adjustment by the Federal Reserve will also
increase swings in short term interest rate swap rates in the 13-
nation euro zone region, said ING, the largest Dutch financial-
services company.


Read more at Bloomberg Currencies News

Southwestern Resources CEO Resigns; Iamgold on Resources: Canada 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. Stock
symbols are in parentheses after company names and prices are
from the last close.

The Standard & Poor's/TSX Composite Index fell 56.93, or 0.4
percent, to 14,119.49 in Toronto.


Read more at Bloomberg Stocks News

South Korean Won Rises to One-Month High; Rupiah, Taiwan Dollar Advance

(Bloomberg) -- South Korea's won climbed to the
highest in more than a month on signs Asia's third-largest
economy is improving after a slowdown in the first quarter.

The won has risen 0.3 percent since the finance ministry
said June 18 the economy is recovering ``gradually,'' buoyed by
export growth and increased spending by consumers and businesses.
The benchmark stock index reached a record this week.


Read more at Bloomberg Currencies News

Hong Kong's Hang Seng Climbs to Record; China Mobile, PetroChina Rise

(Bloomberg) -- Hong Kong stocks rise, driving the
Hang Seng Index to a second straight record. China Mobile Ltd.,
the world's largest mobile-phone operator by users, gained after
adding a record number of new subscribers last month.

``China Mobile numbers were just very good,'' said Andrew
Sullivan, head of Asian sales trading at Daiwa Securities SMBC Co.
in Hong Kong. ``I suspect you will see some analysts upgrading
their yearly numbers and target prices.''


Read more at Bloomberg Stocks News

China Oriental's Second-Largest Shareholder Bids to Take Over Steelmaker

(Bloomberg) -- China Oriental Group Co.'s second-
biggest shareholder offered to buy all the shares in the Chinese
steelmaker she doesn't own because she is ``dissatisfied'' with
the management's performance.

Chen Ningning, who owns 28 percent of China Oriental,
offered HK$3 of cash and bonds for every China Oriental share,
the company said in a statement to the Hong Kong stock exchange.
The bid values the company at HK$8.7 billion ($1.1 billion).
Chen is a director of China Oriental.


Read more at Bloomberg Bonds News

JGB futures jump on weak data, Treasury rally

(Reuters) - The business survey index on sentiment at large
manufacturers in the April-June quarter fell to minus 2.2 from
plus 0.1 in the previous quarter, indicating big Japanese
manufacturers were less confident about business conditions.




The market focused on the BSI as the data has some
correlation with the BOJ's high-profiled quarterly tankan
business sentiment survey due on July 2.


Read more at Reuters.com Bonds News

Japan Energy-Related Shares Gain on Oil, Led by Itochu, Mitsubishi Corp.

(Bloomberg) -- Japan's energy-related stocks rose,
led by Itochu Corp. and Mitsubishi Corp. as the price of crude
oil remained near $70 a barrel.

Key indexes made little headway at the start of trading
after a survey showed confidence among Japanese large companies
dropped in the second quarter.


Read more at Bloomberg Stocks News

Hallwood says chairman proposes company liquidation

(Reuters) - He also suggested that Hallwood Group sell its stake in
Brookwood Cos. Inc. for cash and distribute the net proceeds to
the shareholders.





Read more at Reuters.com Mergers News

New Zealand Dollar Gains as Wider Bond Yield Gap With U.S. Draws Investors

(Bloomberg) -- The New Zealand dollar rose for a
third day as investors were attracted to the nation's higher-
yielding assets after U.S. bond yields declined.

The yield gap between New Zealand's December 2017
government bond and 10-year Treasuries widened to 1.69
percentage points, compared with 1.49 points on June 12. The
spread has averaged 1.32 points in the past six months.


Read more at Bloomberg Currencies News

Ecuador says bank benefited from past debt policy

(Reuters) - Correa said Produbanco owes global bonds. His leftist
government seeks to identify holders of the country's benchmark
global bonds, which amount to around $3.86 billion, according
to government data.




"In 2003 we had an economy minister and former vice
president of Produbanco; ... in that administration bond prices
rose from 60 percent to 104 percent," Correa said.


Read more at Reuters.com Bonds News

La-Z-Boy posts 4th-qtr profit vs loss

(Reuters) - The company posted net income of $7.7 million, or 16 cents per share from continuing operations. In the year earlier quarter ended April 29, it had a loss of $10.3 million, or 24 cents a share.



) Keywords: LAZBOY RESULTS/


Read more at Reuters.com Market News

Yen May Gain Before Minutes That Might Show Bias to Increase Interest Rate

(Bloomberg) -- The yen may rise versus the dollar as
the release of the Bank of Japan's May 17 minutes might show some
policy makers wanted to increase interest rates.

The central bank has kept benchmark borrowing costs at 0.5
percent, the lowest among major economies, since February. A
government report today may show second-quarter business
confidence among Japan's manufacturers declined to the lowest in
a year.


Read more at Bloomberg Currencies News

Expedia, Sempra Energy, Textron, US Airways: U.S. Equity Movers Final

(Bloomberg) -- The following is a list of companies
whose shares had unusual price changes in U.S. exchanges today.
Stock symbols are in parentheses after company names. Share
prices are as of 4 p.m. New York time.

Best Buy Co. (BBY US) slid $2.83, or 5.9 percent, to $45.18.
The largest U.S. consumer-electronics chain said profit fell 18
percent on sales of less profitable laptop computers and lower
prices for flat-panel televisions. Net income dropped to 39 cents
a share for the first quarter from 47 cents a year ago. Analysts
estimated Best Buy would earn 50 cents a share. The company also
cut its annual profit forecast.


Read more at Bloomberg Stocks News

Intertape says dissident trying to block takeover

(Reuters) - Intertape said on Tuesday the dissident's "stated
intention" is to use the proxies it receives to vote against a
plan to sell Intertape at $4.76 ashare by a subsidiary of
Littlejohn Fund III L.P. The deal is valued at $500 million
including debt.




Read more at Reuters.com Mergers News

Bear Stearns manager warned of collapse in February

(Reuters) - Now Blackstone Group, the private equity giant, is
presenting a plan to rescue Cioffi's Bear Stearns Cos.
hedge fund that is on the brink of collapse, and Bear Stearns
is infusing $1.5 billion of its own capital to save the fund,
according to people familiar with the situation on Tuesday.




The fund already has sold off $4 billion in mortgage-backed
securities to raise money that could pay redemptions and margin
calls after the Bear Stearns High-Grade Structured Credit
Strategies fund won a reprieve from creditors on Monday,
gaining one more day to present a rescue plan.


Read more at Reuters.com Bonds News

Retractable sues Becton for patent infringement

(Reuters) - BANGALORE, June 19 - Retractable Technologies Inc. said it has filed a lawsuit against Becton Dickinson and Co. alleging infringement of patent for its safety syringes.



Becton is using a combination of intentional, unlawful methods, including patent infringement, false advertising and unfair competition to "suppress" Retractables' success in the market, Retractable said in a filing with the U.S. Securities and Exchange Commission.


Read more at Reuters.com Government Filings News

U.S. Stocks Drop on Housing Data, Oil's Rise; Best Buy, Homebuilders Fall

(Bloomberg) -- U.S. stocks dropped after housing
starts fell in May for the first time in four months and the
price of oil climbed to a nine-month high.

Best Buy Co., the biggest consumer electronics chain,
plunged the most in 18 months after reporting earnings that
trailed analyst estimates. KB Home, Centex Corp. and Hovnanian
Enterprise Inc. led a gauge of homebuilders to its lowest level
in two months.


Read more at Bloomberg Stocks News

Retractable sues Becton Dickinson for infringing syringe patent

(Reuters) - Retractable Technologies said Becton was using a combination of intentional, unlawful methods, including patent infringement, false advertising and unfair competition to suppress Retractables' success in the market.



In its complaint filed in a federal court in Texas, the company also sought injunctive relief and damages accruing after July 2, 2004, Retractable said in a filing with the U.S. Securities and Exchange Commission.


Read more at Reuters.com Government Filings News

Helping to steady U.S. truck market

(Reuters) - DETROIT, June 19 - Toyota Motor Corp. has been focusing the marketing of its new, full-size pickup truck on powerful brakes and a brawny engine designed to tow massive payloads.



But the revamped Tundra is also towing some unusually heavy baggage for Toyota: deep discounts at showrooms intended to sway truck buyers wavering in the face of a weak housing market and high gasoline prices.


Read more at Reuters.com Bonds News

Euro Falls From All-Time High Versus Yen on Declining German Confidence

(Bloomberg) -- The euro fell from an all-time high
against the yen after a report showed investor confidence in
Germany unexpectedly declined.

The euro weakened for the first time in a week versus the
Japanese currency as optimism regarding Europe's economy waned
among analysts. The dollar accelerated its decline against the
yen after a government report showed U.S. housing starts last
month fell while building permits increased.


Read more at Bloomberg Currencies News

Atco to build C$210 mln Alberta transmission line

(Reuters) - Atco said that if it receives the needed regulatory
approvals and land easements it would begin construction later
this year and complete the project by 2010.




The Alberta Electric System Operator, which operates the
province's power grid and manages its wholesale electricity
market, said earlier this year that about C$3.5 billion in new
transmission lines would be needed over the next decade to keep
pace with Alberta's economic boom.


Read more at Reuters.com Government Filings News

Coffee in New York Falls as Dry Weather Forecast to Aid Brazil's Harvest

(Bloomberg) -- Coffee fell to a one-week low in
New York on forecasts for a week of dry weather that may aid
the harvest in parts of Brazil, the world's biggest producer.

There will be little or no rain during the next seven days
and temperatures will be near to above normal, according to
Meteorlogix LLC in Woburn, Massachusetts. The coolest
temperatures will range from the mid-50s to mid-60s Fahrenheit
(13 to 18 Celsius), the forecaster said. Brazil's harvest is from
April through October.


Read more at Bloomberg Commodities News

Wheat Falls Most in 4 Weeks as Dry Weather May Help Speed Up U.S. Harvest

(Bloomberg) -- Wheat prices fell the most in four
weeks in Chicago and Kansas City as dry weather in the U.S.
southern Great Plains may allow farmers to speed up a harvest
that's been delayed by heavy rains.

Fields from Texas to Nebraska are in for above-average
temperatures and below normal rainfall for the next 10 days,
which will help improve prospects for the mature hard-red winter
crop, according to Meteorlogix LLC, a Woburn, Massachusetts-based
private forecaster.


Read more at Bloomberg Commodities News

Colombia Peso Gains on Likelihood Higher Central Bank Rate to Lure Inflows

(Bloomberg) -- Colombia's peso appreciated to its
strongest in two weeks on speculation the central bank will
again raise the benchmark rate, attracting foreign investment.

Policy makers on June 15 raised the overnight lending rate
to 9 percent, its highest since October 2001, and said in a
statement ``the increase in aggregate demand continues at an
accelerated rate and even above previous projections.'' The bank
has boosted its key rate 12 times since April 2006 in a bid to
control inflation.


Read more at Bloomberg Currencies News

Housing starts slip in May, but permits up

(Reuters) - Housing starts slipped 2.1 percent to an annual pace of 1.474 million units in May compared with a 1.506 million unit pace in April, the Commerce Department said on Tuesday.




The level of starts was a touch below what was expected on Wall Street, but permits for future groundbreaking rose 3 percent to a faster-than-expected 1.501-million unit rate.


Read more at Reuters.com Economic News

US STOCKS-Indexes flat, Best Buy fuels spending worry

(Reuters) - NEW YORK, June 19 - U.S. stocks were little
changed on Tuesday as a favorable court ruling for
Bristol-Myers Squibb and a pullback in benchmark bond yields
tempered concerns over disappointing profits from Best Buy Co.
Inc. .




Shares of Best Buy, the top U.S. electronics chain, slid
4.6 percent, as its earnings report raised doubts about the
U.S. economy's health and the outlook for consumer spending and
corporate profit growth.


Read more at Reuters.com Bonds News

UPDATE 2-Home Depot in $10 bln deal to sell unit--sources

(Reuters) - NEW YORK, June 19 - Home Depot Inc. has
agreed to sell its supply division to three private equity
firms, sources said on Tuesday, in a roughly $10 billion deal
that unloads a business the home-improvement retailer's former
chief executive worked to expand.




Bain Capital, Carlyle Group and Clayton, Dubilier
& Rice won the auction and were finalizing the deal early on
Tuesday, sources close to the process told Reuters.


Read more at Reuters.com Mergers News

S.Africa finalises lower export duty on diamonds

(Reuters) - South Africa has finalised a cut in its export levy on diamonds to 5 percent from 15 percent, but tightened exemptions in an effort to boost local processing of gems.

Finance Minister Trevor Manuel had previously announced the changes in export tax, but introduced a bill with the provisions into parliament on Tuesday.


Read more at Reuters Africa

UPDATE 2-GE to buy stake in Regency Energy for $603 mln

(Reuters) - The transaction also gives GE Energy Financial Services a
91 percent stake in Regency's general partner, meaning GE will
have operational control of the company.




Under the deal with Dallas-based HM Capital Partners LLC,
GE Energy Financial Services has acquired an estimated 37
percent of Regency's limited-partner units outstanding.


Read more at Reuters.com Bonds News

Canadian Stocks May Fall From Record on Oil, Metals; EnCana, Teck May Drop

(Bloomberg) -- Canadian stocks may retreat for the
first time in five days, as falling commodity prices drag down
energy and raw-materials companies including EnCana Corp. and Teck
Cominco Ltd.

Declines in the market may be limited as shares of such
industrial companies as Bombardier Inc. are boosted by reports of
strong demand for civil aircraft from the Paris Air Show.


Read more at Bloomberg Stocks News

Buyout bosses surface from shadows to defend deals

(Reuters) - The industry's trade group failed to make any headway
winning over the naysayers at a government hearing earlier this
month, prompting the resignation of its chief executive just
days later amid cries of continued obfuscation.




Senior buyout executives will have a chance to stem the
maddening crowd on Wednesday at the second of three planned
meetings, but they also may be stepping forward too late to head
off rollbacks to tax benefits and demands for more disclosure.


Read more at Reuters.com Mergers News

Crude Oil Falls After Reaching Nine-Month High on Nigeria Strike Threat

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York.

Crude oil for July delivery fell as much as 39 cents to $68.70
a barrel in after-hours electronic trading on the New York
Mercantile Exchange The contract, which expires tomorrow, traded at
$68.84 at 1:36 a.m. in London. The more actively traded August
contract was down 30 cents at $69.32 a barrel.


Read more at Bloomberg Energy News

Canada Dollar Rebounds From 3-Week Low as Price Report Suggests Rate Boost

(Bloomberg) -- The Canadian dollar rebounded from a
three-week low after a government report showed May inflation in
line with economists' forecasts.

The consumer price report boosted speculation that the Bank
of Canada will raise borrowing costs as soon as next month. The
central bank has said it may raise interest rates ``in the near
term'' should the inflation remain above policy makers' 2
percent target.


Read more at Bloomberg Currencies News

FACTBOX: Faces of the BerkShares currency

(Reuters) - 1 BerkShare -- unidentified member of the Mohican tribe, the original inhabitants of the area




5 BerkShares -- W.E.B. DuBois, early civil rights leader who was born in Great Barrington in 1868.


Read more at Reuters.com Bonds News

Oil Eases From Nine-Month High; Nigerian Unions, Government Start Talks

(Bloomberg) -- Crude oil traded near a nine-month high
in New York after reports Nigerian unions had started talks with
the government to avert a strike that would affect Africa's largest
oil industry.

Nigeria's two main oil unions plan to meet the government and
hold internal talks today to decide on the strike tomorrow, Reuters
reported, citing Peter Akpatason, the president of the National
Union of Petroleum & Natural Gas Workers.


Read more at Bloomberg Commodities News

UPDATE 1-Expedia to buy back up to $3.5 billion in stock

(Reuters) - The news sent Expedia shares up $3.50 or 13.7 percent in
premarket dealings to $29.




Without elaborating on the reasons for the buyback or the
source of funds to be used, Chairman Barry Diller said the move
reflected the board's confidence in the company's future.


Read more at Reuters.com Bonds News

Pan Pacific copper deal may hurt high-cost smelters

(Reuters) - Japan's top copper smelter, Pan Pacific Copper, has set mid-year copper fees with key miners, including mining giant BHP Billiton Ltd./Plc., at levels that may threaten high-cost refiners.

The low fees mean copper smelters at the higher end of the cost curve may face difficulties, but analysts said most would continue to operate, even at a loss, hoping for a change in market conditions.


Read more at Reuters Africa

Azerbaijan's Economy to Grow 35 Percent in 2007 on Oil, Minister Says

(Bloomberg) -- Azerbaijan's economy, the world's
fastest growing, will probably expand more than 35 percent this
year as oil exports accelerate, Economic Development Minister
Heydar Babayev said.

Growth in the $21 billion economy accelerated to 41.7
percent in the first three months of the year from 39.5 percent
in the same period a year ago, more than triple the rate in
China and Latvia, which has the European Union's fastest
expanding economy.


Read more at Bloomberg Emerging Markets News

ZEW's Schmidt Says Drop in Factory Orders Pushed Confidence Index Lower

(Bloomberg) -- Sandra Schmidt, an economist at
Germany's ZEW Center for European Research in Mannheim, comments
on the index's decline.

An index of investor and analyst expectations for economic
growth in six months unexpectedly fell in June, declining to 20.3
from 24 in May, ZEW said today.


Read more at Bloomberg Currencies News

Nickel Drops as Stainless-Steel Makers May Cut Usage; Copper, Zinc Decline

(Bloomberg) -- Nickel declined in London for a
second consecutive day on speculation stainless-steel makers will
continue to cut usage after an earlier price rally. Copper and
zinc also fell.

Nickel's 19 percent gain this year has made prices
``overheated,'' analysts including Tobias Merath at Credit Suisse
Group in Zurich said. Such increases have reduced usage among
stainless-steel producers, which account for two-thirds of
consumption worldwide, Merath said today in a phone interview.


Read more at Bloomberg Commodities News

No sign of Asian sales of US Treasuries -Kimmitt

(Reuters) - Some market analysts said the drop might have been caused by
Asian central banks diversifying their portfolios.




But asked by reporters in Beijing whether he had noticed any
sign in the past couple of weeks that Chinese or other Asian
central banks were selling their Treasury holdings, Kimmitt
replied: "I haven't seen any specific evidence."


Read more at Reuters.com Bonds News

UPDATE 1-Siemens opens VDO to buyers, prefers IPO -source

(Reuters) - A Siemens spokesman said the German conglomerate still
planned a partial IPO for VDO after German business daily
Handelsblatt reported that would-be buyer Continental
had begun due diligence on the firm, which could fetch as much
as 10 billion euros .




Handelsblatt said Siemens was opening VDO's books for three
interested parties, which included U.S. car parts supplier TRW
and a private equity bidder that could be Permira
[PERM.UL] or KKR [KKR.UL].


Read more at Reuters.com Mergers News

Oil stocks push European share indexes higher

(Reuters) - Europe's main share indexes rose in early trade on Tuesday as oil majors gained on the back of higher oil prices and market players awaited key U.S. housing data.

Among major movers, Tesco fell 2.4 percent after the world's fifth-largest retailer reported a slowdown in its core UK sales in the first quarter, dragging the DJ Stoxx European retail sector index down 0.7 percent.


Read more at Reuters Africa

UPDATE 1-Fiat to provide engines for DaimlerChrysler trucks

(Reuters) - "The first step of this agreement concerns the long-term
supply of light-duty diesel engines to the Mitsubishi Fuso Bus &
Truck Corporation, to be used in the Canter light commercial
vehicle which will be marketed in major markets, including
Europe and Japan," it said in a statement.




Fiat will supply around 80,000 of its 3.0-litre F1C engines
per year to Mitsubishi Fuso starting in 2009. Volumes will
increase in subsequent years, it added.


Read more at Reuters.com Mergers News

French Stocks Including EADS and Renault Gain While Danone Shares Slip

(Bloomberg) -- French stocks including European
Aeronautic Defence & Space Co. and Renault SA rose. Groupe
Danone fell.

The CAC 40 Index advanced 7.32, or 0.1 percent, to 6094.47
at 9:04 a.m. in Paris. The SBF 120 Index also rose 0.1 percent.


Read more at Bloomberg Stocks News