Sunday, July 15, 2007

Borders unit attracts trade, private equity interest

(Reuters) - "It has attracted a lot of interest from parties in
Australia and overseas, including trade and private equity,"
Lawrentschuck told Reuters, adding that Borders' Australian and
New Zealand operations were performing very well.




Borders, the second-largest U.S. bookstore chain, said in
March it would consider selling most of its overseas stores as
it focuses on its loss-making U.S. operations.


Read more at Reuters.com Mergers News

Australia's S&P/ASX 200 Index Drops, Led by Rio Tinto Group, BHP Billiton

(Bloomberg) -- Australian stocks fell. Rio Tinto
Group dropped for a second day on concern its $38.1 billion bid
for Alcan Inc. will increase its debt, while BHP Billion Ltd.
declined on concerns recent gains have outstripped earnings.

``With Rio, there's no doubt takeovers are generally more
positive for the acquired stock than the acquirer,'' said Shane
Oliver, who helps manage the equivalent of $83 billion at AMP
Capital Investors in Sydney. ``The market may be concerned about
the increased debt factor.''


Read more at Bloomberg Stocks News

Australian Oil Stocks Rise, Led by Woodside on Higher Oil: Rio Tinto Slips

(Bloomberg) -- Australian oil stocks rose, led by
Woodside Petroleum Ltd. and Roc Oil Co. after crude climbed to an
11-month high on speculation maintenance closures in the North Sea
may limit global supplies.

Rio Tinto Group fell for a second day after announcing it had
agreed to buy Alcan Inc. for $38.1 billion, increasing its debt.


Read more at Bloomberg Stocks News

Armor, Stillwater Mining, Coach, Terex, Tyson Foods: 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.

Armor Holdings Inc. (AH US): The military-truck maker won a
$518.5 million order from the U.S. Marine Corps to build blast-
resistant vehicles as the Pentagon speeds their delivery to
protect forces in Iraq. Armor Holdings will make 1,170 of the
trucks under the award, the U.S. Defense Department said in a
statement. The stock was unchanged at $87.38 in regular trading.


Read more at Bloomberg Stocks News

UBS, Citigroup, Rivals Hire More Private Bankers to Serve Taiwan's Wealthy

(Bloomberg) -- UBS AG and Citigroup Inc. said they
are hiring more private bankers to serve Taiwan, where the
richest citizens hold more wealth than in any Asian country
except for China and Japan.

UBS will add 30 private bankers in Taiwan this year for a
total of 80, said Dennis Chen, who oversees the company's
onshore private-banking business in Taipei, in an interview.
Citigroup, Morgan Stanley, BNP Paribas and ABN Amro Holding NV
say they will also add bankers to cater to Taiwan's wealthy.


Read more at Bloomberg Emerging Markets News

Australia's S&P/ASX 200 Rises to Record, Led by Woodside: Rio Tinto Slips

(Bloomberg) -- Australia's S&P/ASX 200 Index rose,
set for a record high. Woodside Petroleum Ltd. and Roc Oil Co. led
gains after crude oil climbed to an 11-month high on speculation
maintenance closures in the North Sea may limit global supplies.

Rio Tinto Group fell for a second day after announcing it had
agreed to buy Alcan Inc. for $38.1 billion, increasing its debt.


Read more at Bloomberg Stocks News

South Korea's Kospi Index Is Little Changed; Carmakers Rise, Samsung Falls

(Bloomberg) -- South Korea's Kospi index swung
between gains and losses. Hyundai Motor Co. rose after Meritz
Securities Co. lifted its price estimates for some carmakers,
citing improved quarterly earnings on higher domestic sales.

Samsung Electronics Co. slid after chip prices fell by the
most in two weeks, triggering concern earnings may decline.


Read more at Bloomberg Stocks News

Kia Motors, Kookmin, LG.Philips, Samsung SDI: South Korea Equity Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the July 13 close. This preview
includes news announced after markets shut. Stock symbols are in
brackets after the company names.

The Kospi index rose 2.8 percent to a record 1962.93. The
Kosdaq declined 0.3 percent to 825.40. Kospi 200 futures expiring
in September added 3.5 percent to 252.65, while the underlying
index gained 3 percent to 250.19.


Read more at Bloomberg Stocks News

Asia Energy Day Ahead: Crude Oil May Fall; GE Profit Increases 12 Percent

(Bloomberg) -- Crude oil may fall next week on
speculation U.S. gasoline inventories will increase as
refineries finish maintenance. General Electric Co., the world's
second-biggest company by market value, said second-quarter
profit rose 12 percent on sales of power-plant turbines, jet
engines and commercial loans outside the U.S.

MOST READ MARKETS STORIES


Read more at Bloomberg Energy News

Catholic Church avoids abuse trial with LA deal

(Reuters) - Facing trial on Monday over abuse allegations dating as far
back as the 1940s, the Archdiocese agreed to pay 508 victims
the largest-ever group settlement.




The deal was the latest chapter in a clergy abuse scandal
that has rocked the Roman Catholic Church worldwide, damaging
its moral standing and forcing five U.S. diocese to seek
bankruptcy protection.


Read more at Reuters.com Bonds News

Bernanke to stress price worries before Congress

(Reuters) - Bernanke looks set to emphasize that the Fed's main concern remains the risk that inflation fails to moderate as it expects when he appears before the House of Representatives' Financial Services Committee on Wednesday at 10 a.m. EDT. .




He will deliver similar testimony the next day before the Senate Banking Committee. The two days of testimony are part of a twice-yearly ritual in which the Fed chairman presents the central bank's monetary policy report. The report will contain updated forecasts for growth, inflation and unemployment.


Read more at Reuters.com Business News

HBOS eyes property group Quintain: paper

(Reuters) - No one at Quintain was available for comment, but the company had said on Friday that HBOS had acquired a 12.4 percent stake in the firm.




The paper said that no formal decision has been made to proceed with a takeover bid, but it quoted City sources that HBOS was working on preliminary plans under which Quintain would be taken private.


Read more at Reuters.com Business News

Algeria seeks to trim diesel import bill

(Reuters) - OPEC-member Algeria sees as "inescapable" a planned decision to increase domestic diesel oil prices, a step aimed at easing the amount imported, Energy and Mines Minister Chakib Khelil said on Saturday.

Raising prices is "a strategic and inescapable option," the official news agency APS quoted him as saying.


Read more at Reuters Africa