Tunisia's Central Bank Offers Higher Yield in 30 Billion Yen Samurai Sale

(Bloomberg) -- Banque Centrale de Tunisie, the
central bank of the Republic of Tunisia, sold 30 billion yen
($253 million) of bonds denominated in yen, offering a wider
spread to investors than originally planned.

The bank priced the 20-year bonds to yield 75 basis points
more than the yen swap rate, according to an e-mail sent to
investors today. It had planned to offer a spread of between 52
basis points and 57 basis points, according to an e-mail sent to
investors on July 27. A basis point is 0.01 percentage point.


Read more at Bloomberg Bonds News

Datacraft Asia's Third-Quarter Profit Rises by 38 Percent on Order Gains

(Bloomberg) -- Datacraft Asia Ltd., which builds
computer networks in the region, posted a 38 percent gain in
third-quarter profit after winning orders in countries
including India and New Zealand.

Net income increased to $7.33 million, or 1.62 cents a
share, for the three months ended June 30, from $5.33 million,
or 1.15 cents, a year earlier, Datacraft said in a statement
today. Sales rose 30 percent to $147.3 million.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Official China July PMI falls to 53.3 vs 54.5 June

(Reuters) - The association compiles the index on behalf of the National
Bureau of Statistics.




A reading over 50 indicates an expansion of activity while
one below 50 suggests contraction.


Read more at Reuters.com Economic News

UPDATE 2-Iraq role to last years, cost more -US officials

(Reuters) - WASHINGTON, July 31 - President George W. Bush's
nominee to be top military adviser said on Tuesday the United
States would be in Iraq for "years not months" and a Pentagon
official said the war was costing even more than expected.




Navy Adm. Michael Mullen, picked as chairman of the Joint
Chiefs of Staff, warned U.S. lawmakers unhappy with the
conflict against seeking a rapid pullout from Iraq, saying it
could turn the country into a "caldron."


Read more at Reuters.com Bonds News

Japan Stocks Tumble; Mizuho, Banks Fall on Drop in Profits; Kyocera Slips

(Bloomberg) -- Japanese stocks fell after Mitsubishi
UFJ Financial Group Inc. and Mizuho Financial Group Inc. said
their quarterly profit dropped because of increasing credit-
related costs.

A measure tracking banks plunged 3.1 percent, the worst
performer in the 33 industry groups included in the Topix.


Read more at Bloomberg Stocks News

Deutsche Bank's China fund arm wins QDII nod-paper

(Reuters) - Chinese mutual funds, such as JPMorgan's China asset
management venture, and securities houses are planning to follow
suit, after China issued rules recently to let select fund firms
and brokerages launch such funds.




Only one Chinese fund management company, Huaan, has launched
a QDII product since Beijing adopted the scheme last year, aimed
at encouraging capital outflows and broadening investment
alternatives for local investors.


Read more at Reuters.com Government Filings News

Thailand King Strengthens Grip on Stock Market as Nation's No. 1 Investor

(Bloomberg) -- Mondays are different in Thailand. It's
the day of the week on which the world's longest-reigning monarch,
Bhumibol Adulyadej, was born.

And in this Southeast Asian nation, the sidewalks, trains,
ferries and food stalls selling fiery curries take on a canary-
colored glow as Thais -- from chief executive officers to street
sweepers -- pay respect to their king by dressing in the royal
color of yellow.


Read more at Bloomberg Stocks News

Citigroup nears settlement of gender bias lawsuit

(Reuters) - In the original March 2005 complaint, the plaintiffs
accused the largest U.S. bank's Smith Barney unit of preventing
female brokers from competing fairly with men for new accounts,
promotions and pay, and depriving women of equal training and
sales support.




The plaintiffs said Smith Barney used past performance,
which it called "the results of historical discrimination," as
a means to award business and pay. It said men got advantages
that accumulated over time and that these "keep male brokers at
the top of the compensation scale and female brokers at the
bottom."


Read more at Reuters.com Bonds News

Oak Hill Financial lowers reported Q2 profit

(Reuters) - Excluding the gain on bank-owned life insurance, reported
operating net income remained unchanged, the company said in a
statement.





Read more at Reuters.com Market News

Tupperware posts higher quarterly profit

(Reuters) - The company said its second-quarter net income rose to $35.5 million, or 56 cents per diluted share, from $25.2 million, or 41 cents a year earlier.



) Keywords: TUPPERWARE RESULTS/


Read more at Reuters.com Market News

UPDATE 1-Brazil miner CVRD Q2 profit hits new record

(Reuters) - Companhia Vale do Rio Doce , which
bought Canada's nickel producer Inco last year, also said that
earnings before interest, taxes, depreciation and amortization
-- a key measure of cash flow -- jumped to 10.2
billion reais from 5.2 billion reais over the same period.




Analysts surveyed by Reuters had expected, on average, a
net profit of around 5.9 billion reais and EBITDA of 9.7
billion reais in the second quarter, with the improvements
stemming from a peak in nickel prices in May, higher iron ore
prices and sale of some assets.


Read more at Reuters.com Market News

Whole Foods 3rd-qtr profit off, but tops estimate

(Reuters) - Profit dropped to $49.1 million, or 35 cents per share, in the fiscal third quarter ended July 1, from $53.9 million, or 37 cents per share, a year earlier.



Analysts, on average, expected Whole Foods to earn 33 cents per share, according to Reuters Estimates.


Read more at Reuters.com Mergers News

Oil Rises to Record Close of $78.21 on Speculation Demand to Exceed Supply

(Bloomberg) -- Crude oil rose to a record close of
$78.21 a barrel in New York on speculation demand will outpace
supply as refiners increase fuel production.

Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. Global demand will climb 1.7
percent in 2008, showing no sign of slowing because of high
prices, a Deutsche Bank AG report showed. A government report
tomorrow may show U.S. oil supplies fell for a fourth week.


Read more at Bloomberg Commodities News

Chile stocks hold on to modest gains, peso firms

(Reuters) - The all-market IGPA stock index edged up 0.09
percent to 14,840.29 points, while the trade-weighted blue-chip
IPSA index rose 0.13 percent to 3,340.43 points.




"The stock market is positive and calm. This afternoon we
broke away from regional markets," said Lorena Pizarro, head of
research with the Alfa brokerage.


Read more at Reuters.com Bonds News

RealNetworks profit falls

(Reuters) - In the year-ago quarter, the company benefited from the proceeds of a $57.9 million settlement of litigation against Microsoft and commercial agreements with the world's largest software maker.




Revenue rose 52 percent to $136.2 million, helped by a strong performance from its games and digital music subscription business.


Read more at Reuters.com Market News

UPDATE 1-Buffalo Wild Wings quarterly profit up, but stock falls

(Reuters) - BANGALORE, July 31 - Restaurant chain Buffalo
Wild Wings Inc. on Tuesday reported higher quarterly
profit and said same-store sales rose 8.1 percent at
company-owned restaurants.




Shares of the Minneapolis-based company fell more than 17
percent in late electronic trade to $35.70, after closing at
$43.22 on the Nasdaq.


Read more at Reuters.com Market News

Astra, Huaneng Power, Korea Gas, Tata Motors: Asia Ex-Japan Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news
that broke after markets closed. Prices are from the local
market's last close. Stock symbols are in parentheses after
company names.

Hong Kong retailers: The city's retail sales climbed 14.3
percent in June from a year earlier, the government said. The
increase was the biggest in four months, outpacing May's 10.2
percent gain and the 10 percent increase estimated by economists
surveyed by Bloomberg News, as stock-market gains, rising wages
and a low jobless rate encouraged spending.


Read more at Bloomberg Stocks News

UPDATE 2-Nelnet agrees to a $2 mln settlement with New York

(Reuters) - NEW YORK, July 31 - New York Attorney General Andrew Cuomo said on Tuesday that Nelnet Inc , the leading consolidator of student loans, had agreed to pay $2 million as part of a settlement that ends a broad investigation into its business practices.



Cuomo, as part of his sweeping probe into the $85 billion a year student loan business, had accused Nelnet of making payments to college alumni groups in exchange for getting loan referrals. As part of the settlement, Nelnet agreed to stop making these payments and to adopt other reforms.


Read more at Reuters.com Market News

US STOCKS-Nasdaq falls 1 percent; Apple leads decliners

(Reuters) - The Dow Jones industrial average was down 100.07
points, or 0.75 percent, at 13,258.24. The Standard & Poor's
500 Index was down 13.54 points, or 0.92 percent, at
1,460.37. The Nasdaq Composite Index was down 28.51
points, or 1.10 percent, at 2,554.77.




Read more at Reuters.com Bonds News

US STOCKS-Indexes fall on fears of more credit problems

(Reuters) - The Dow Jones industrial average was down 30.98
points, or 0.23 percent, at 13,327.33. The Standard & Poor's
500 Index was down 6.10 points, or 0.41 percent, at
1,467.81. The Nasdaq Composite Index was down 17.07
points, or 0.66 percent, at 2,566.21.




Read more at Reuters.com Bonds News

UPDATE 1-Inmet Mining profit rises on higher metal prices

(Reuters) - The mid-tier copper, zinc and gold miner earned C$138
million , or C$2.86 a share, in the quarter ended
June 30. That was up from C$132 million, or C$2.74 a share, in
the year-before period.




Analysts polled by Reuters had expected, on average, profit
of C$2.81 a share.


Read more at Reuters.com Market News

Worldwide gasoline glut seen by 2010: WoodMac

(Reuters) - Wood Mackenzie forecasts an additional 8.1 million barrels per day of crude refining capacity by 2010. The firm also sees about 1.8 million barrels per day more fuel from non-refinery sources, such as biofuels and natural gas liquids.




With estimates of demand increasing around 9 million barrels per day in the same period, Wood Mackenzie foresees a surplus of about 1 million barrels daily in 2010, Jamieson's report said. As a result, prices will drop, she predicted.


Read more at Reuters.com Hot Stocks News

UniCredit, GE to seal Poland deal-sources

(Reuters) - MILAN/BOSTON, July 31 - UniCredit and GE Money are to announce as early as this week a deal for the purchase by the U.S. group of 200 of the Italian bank's outlets in Poland, sources familiar with the matter said.



UniCredit is selling 200 bank branches belonging to its Polish unit BPH , which it wholly acquired when it bought Germany's HVB in 2005, along with the BPH brand. Analysts say the package could be worth as much as $2 billion.


Read more at Reuters.com Mergers News

UPDATE 2-Coach fourth-quarter profit, outlook up; shares fall

(Reuters) - NEW YORK, July 31 - Coach Inc. said on
Tuesday that quarterly profit rose nearly 37 percent and raised
its 2008 outlook due in part to strong sales in Japan and the
introduction of its Ergo line of handbags.




But Coach shares were down 3.5 percent in afternoon trade as
some investors focused on a decline in quarterly gross margin and
others took profits a day after expectations had boosted shares 5
percent, according to one analyst.


Read more at Reuters.com Market News

IAC sees profits flat in third quarter

(Reuters) - "Given the challenges of the first half, it's a virtual certainty that we won't tally the year at the double-digit rate we had aspired to," IAC Chief Financial Officer Thomas McInerney said on a conference call with analysts. McInerney said HSN's gross margins are expected to decline in the third quarter from a year ago, due to inventory levels, but the drop should be smaller than in the second quarter.



He said that a decline in second-quarter U.S. sales for IAC's Ticketmaster box office service isn't expected to continue in the third quarter.


Read more at Reuters.com Bonds News

Fed will act on market slide if warranted: Poole

(Reuters) - Poole said the Fed should not add to the uncertainty by making its own policy less predictable. But if it was convinced about the scale of the risks, it would not stand idle.




"The market understands, I believe, that the Fed will act in due time if and when evidence accumulates that action would be appropriate," he said.


Read more at Reuters.com Bonds News

CBS quarterly earnings drop; tv, radio revenue off

(Reuters) - CBS, which runs the most-watched U.S. television network, reported second-quarter net earnings of $404 million, or 55 cents a share, compared with $781.7 million, or $1.02, a year earlier.




Year-ago earnings included income from discontinued operations of $291.9 million, reflecting a gain on the sale of its Paramount Parks. It also had a tax benefit.


Read more at Reuters.com Business News

UPDATE 1-Vallourec Q2 earnings ahead of expectations

(Reuters) - Gross operating income rose 3.6 percent to 466.6 million
euros on sales up 11.4 percent at 1.558
billion. Net profit rose 7.5 percent to 257.7 million.




The average forecast of seven analysts in a Reuters poll was
for sales of 1.498 billion euros, an EBITDA operating profit of
445 million and net profit of 245 million.


Read more at Reuters.com Market News

UPDATE 1-U.S. House passes Iran divestment bill

(Reuters) - WASHINGTON, July 31 - Calling for change in
Iranian nuclear policy, the U.S. House of Representatives
passed a bill on Tuesday to give legal protections to
investment managers who pull money out of the Iranian energy
sector.




Under the legislation approved by a 408-6 vote, the
Treasury Department would be required to list twice yearly on
the Internet the names of companies that have more than $20
million invested in the Iranian energy sector.


Read more at Reuters.com Government Filings News

IAC's Diller says not sure of interest in HSN swap

(Reuters) - "Whether or not it will ever be in our
interest to do so or their interest, I can't really tell you,"
Diller said on a conference call with analysts.




Separately, Diller said he expected a return to share
repurchases for IAC and online travel site Expedia once tighter
credit market conditions abate. Diller curtailed a larger
buyback for Expedia last week, blaming a lack of attractive
financing available in credit markets.


Read more at Reuters.com Mergers News

London Boosts Foreign-Exchange Trading to Double New York's Level in April

(Bloomberg) -- London raised average daily currency
trading in April to more than double the level of New York,
extending its lead as the world's largest center for foreign
exchange, according to central bank surveys.

``London tends to dominate in this market,'' said Steven
Barrow, chief currency strategist at Bear Stearns International
Ltd. in London. ``I don't see why that should change.''


Read more at Bloomberg Currencies News

Marathon 2nd-qtr earnings fall

(Reuters) - Net income slipped to $1.55 billion, or $2.25 a share, from
$1.75 billion, or $2.08 a share, last year.




Excluding one-time items, the company said it earned $2.25
a share. On that basis, the average forecast of Wall Street
analysts was $2.13 a share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1- Regal-Beloit second-quarter earnings rise

(Reuters) - Net income for the quarter rose to $36.3 million, or $1.06
a share, from $33.3 million, or 99 cents a share, in the same
period a year earlier, the manufacturer of motion control and
power generation products said.




Quarterly net sales increased 5.6 percent to $459.8
million.


Read more at Reuters.com Market News

UPDATE 1-Valero posts record quarter profit; margins strong

(Reuters) - NEW YORK, July 31 - Leading refiner Valero Energy
Corp. posted record quarterly earnings on Tuesday,
topping Wall Street forecasts, on soaring refining margins
fueled by high gasoline prices.




Those margins, which rose by 45 percent for Valero on the
Gulf Coast, have benefited all refiners in the past several
months as steady growth in demand, coupled with
higher-than-normal refinery maintenance, led to higher gasoline
prices and unprecedented profitability for the industry.


Read more at Reuters.com Market News

UPDATE 1-Overstock.com shares soar on narrower Q2 loss

(Reuters) - Overstock, which sells excess product inventory, said its
second-quarter net loss was $13.8 million, or 58 cents per
share, compared with a loss of $15.8 million, or 78 cents per
share in the year-earlier period.




Analysts had expected a loss of 64 cents per share,
according to Reuters Estimates.


Read more at Reuters.com Market News

Treasury 10-Year Note Yield Holds Near Two-Month Low on Concern Over Risk

(Bloomberg) -- Treasury 10-year note yields held
near the lowest in two months on speculation losses among banks
and hedge funds from securities backed by subprime mortgages
will hurt the economy.

Falling home prices in May and an unexpected decline last
month in construction spending stoked concern housing weakness
will slow U.S. economic growth, while a Thomson Financial report
said lenders may back out of a loan to help fund the $37.2
billion leveraged buyout of TXU Corp.


Read more at Bloomberg Bonds News

Egypt's indexes recover, OCI leads blue chips

(Reuters) - Egyptian shares rebounded on Tuesday after two consecutive sessions of declines, led by Orascom Construction Industries (OCI) as foreigners returned to buying, brokers said.

Mostafa Badra of National Securities said recovery in global markets drove foreigners back to buying mostly affecting OCI," he added.


Read more at Reuters Africa

July consumer confidence at 6-year high

(Reuters) - "An improvement in business conditions and the job market has lifted consumers' spirits in July," said Lynn Franco, director of The Conference Board Consumer Research Center, in a press release.




The reading was well above expectations. The median forecast of economists polled by Reuters was for 105.0, up from an originally reported 103.9 in June.


Read more at Reuters.com Bonds News

UPDATE 1-RESEARCH ALERT-Bear Stearns cuts MGIC to peer perform

(Reuters) - Analyst David Hochstim, in a note to investors, estimated
the write-off of Credit-Based Asset Servicing and
Securitization LLC , MGIC's joint venture with Radian
Group Inc. , to generate a third-quarter loss of $3.30
per share for MGIC.




He said the write-down could limit MGIC's ability to
repurchase shares following the completion of its planned
merger with Radian, expected in a few months.


Read more at Reuters.com Bonds News

Lead Advances in London as Stockpiles Decline; Tin Gains to 18-Year High

(Bloomberg) -- Lead advanced the most in more than
a month in London as the amount of available metal dropped,
fueling speculation supply will fall short of demand. Tin
climbed to the highest since 1989 and nickel had its biggest
rise in six weeks.

Inventories of lead tracked by the London Metal Exchange,
or LME, declined 3.7 percent to 37,575 tons, the exchange said
today in a daily report. That's the biggest daily drop since
Nov. 30. Prices for the metal, used mostly in car batteries,
jumped 86 percent this year and outpaced other industrial metals
as supplies from Australia were disrupted and demand improved.


Read more at Bloomberg Commodities News

IAC/InterActiveCorp quarterly net rises 78 percent

(Reuters) - NEW YORK, July 31 - IAC/InterActiveCorp , the Internet conglomerate owned by Barry Diller, said on Tuesday its quarterly profit rose 78 percent, helped by the sale of its European shopping channel and growth at its membership business.



At the same time the company said its key HSN shopping unit posted a slight 1 percent decline in revenue and reported what it said was unexpected softness in U.S. ticket volumes for its Ticketmaster box-office service. Second-quarter net profit rose to $95.97 million, or 32 cents per share, from $53.8 million, or 17 cents per share, a year ago.


Read more at Reuters.com Mergers News

TREASURIES-Bonds still down after PCE inflation data

(Reuters) - The benchmark 10-year note's price traded down 8/32 for a
yield of 4.84 percent , versus 4.84 percent before
the data and compared with 4.81 percent late on Monday. Bond
yields and prices move inversely.




Read more at Reuters.com Bonds News

CORRECTED - UPDATE 1-Hidden subprime losses may mirror Japan bank crisis

(Reuters) - NEW YORK, July 27 - Investors and banks holding
on to U.S. subprime mortgage bonds in hopes of a recovery in
value may make losses worse, mirroring the Japanese banking
crisis in the 1990s, according to a new report.




The Japanese banking crisis, triggered in the early 1990s
by a slumping property market and brokerage collapses, led to a
decade-long credit crunch. The government subsequently had to
step in to stabilize the banking system by injecting public
money into top banks.


Read more at Reuters.com Bonds News

US home prices fell in May - S&P/Case-Shiller

(Reuters) - The composite month-over-month Standard &
Poor's/Case-Shiller Home Price Index of 20 metro areas also
showed a 0.2 percent drop, to a 200.04 reading, or a 2.8
percent year-over-year loss.




Read more at Reuters.com Economic News

UPDATE 1-Safeco second-quarter profit falls 7 percent

(Reuters) - Net income for the Seattle-based company fell to $186.4
million from $199.7 million a year earlier. Profit per share
rose to $1.75 from $1.68 as the number of shares outstanding
decreased.




Excluding investment losses, operating profit fell 14
percent to $175 million, or $1.65 per share. Revenue was little
changed at $1.54 billion, while operating revenue fell to $1.52
billion from $1.54 billion.


Read more at Reuters.com Market News

GM trounces estimates

(Reuters) - GM, whose shares rose 6.7 percent in early electronic trading, said it posted a net profit of $891 million, or $1.56 a share, compared with a net loss of $3.4 billion, or $5.98 a share a year earlier.




Excluding such one-time items as charges related to Delphi's bankruptcy, the company said it earned $2.48 a share.


Read more at Reuters.com Business News

St. Joe Q2 earnings rise

(Reuters) - The company posted a quarterly loss from continuing
operations of $5.3 million, or 7 cents a share, which was
offset by an after-tax gain from discontinued operations of
$30.6 million, or 41 cents a share.




Revenue fell to $112.7 million from $141.1 million a year
ago.


Read more at Reuters.com Market News

UPDATE 1-Sun Life profit rises 15 pct, ups dividend

(Reuters) - The Canadian insurer said net income was C$590 million
, or C$1.02 a share, in the quarter ended June
30, up from C$512 million, or 88 Canadian cents a share, a year
earlier.




Analysts had expected an average of 96 Canadian cents a
share, according to Reuters Estimates.


Read more at Reuters.com Market News

UPDATE 1-ADP earnings from continuing operations rise

(Reuters) - The Roseland, New Jersey-based company said fourth-quarter
earnings from continuing operations were $193.8 million, or 35
cents a share, compared with $140.9 million, or 25 cents, a
year earlier.




Net income declined to $194.7 million, or 35 cents a share,
from $703.7 million, or $1.23, last year.


Read more at Reuters.com Market News

US oil near year high above $77

(Reuters) - U.S. oil climbed above $77 on Wednesday, inching towards its all-time high, on forecasts for another weekly decline in crude stocks in top consumer the United States and a recovery in world share markets.

U.S. crude was up 48 cents at $77.31 a barrel by 1127 GMT after hitting $77.43, the highest since August 8, 2006. London Brent crude was up 58 cents at $76.32.


Read more at Reuters Africa

Indian Rupee Gains Most in Month; Central Bank Raises Reserve Requirement

(Bloomberg) -- India's rupee gained the most in a
month as the central bank announced measures to reduce funds in
the banking system to curb inflation.

The Reserve Bank of India raised the amount of cash lenders
must set aside to cover deposits by half a percentage point to 7
percent, reducing the supply of rupees and adding to pressure
for appreciation. It also scrapped the 30 billion rupees ($742
million) daily limit on the amount of money it drains through
bond sales at reverse-repurchase auctions.


Read more at Bloomberg Currencies News

Buy Global Stocks, U.S. Mortgage-Backed Credit, HSBC Strategists Say

(Bloomberg) -- Investors should buy stocks worldwide
following last week's market sell-off, and add to holdings of
U.S. mortgage-backed bonds, according to strategists at HSBC
Holdings Plc.

A team in charge of asset allocation strategy raised their
recommended holding of global stocks to 67.6 percent of total
assets, according to report sent to clients today. That's up from
a previous 60.1 percent, or a ``benchmark'' position.


Read more at Bloomberg Stocks News

Treasury Notes Decline as Corporate Bond Risk Falls in Europe, Stocks Gain

(Bloomberg) -- Treasuries fell for a second day as a
measure of corporate bond risk declined in Europe, sparking
speculation investor demand for the relative safety of U.S. debt
is waning.

The yield on the 10-year note rose 2 basis points to 4.82
percent as of 8:06 a.m. in London, according to bond broker
Cantor Fitzgerald LP. The price of the 4 1/2 percent security due
in May 2017 declined 5/32, or $1.56 per $1,000 face amount, to 97
16/32.


Read more at Bloomberg Bonds News

UPDATE 1-Tele Atlas Q2 core profit more than doubles

(Reuters) - Adjusted earnings before interest, tax, depreciation and
amortisation increased to 12.2 million euros from 5.1
million euros in the first quarter, Tele Atlas said in a
statement on Tuesday.




Revenue rose to 72.8 million euros from 64 million euros in
the first quarter.


Read more at Reuters.com Mergers News