Sun International to buy back 16 pct of own stock

(Reuters) - South African casino and hotel operator Sun International will buy back up to 16 percent of its own stock for around 2.34 billion rand, the company said on Wednesday.

Sun International, South Africa's biggest casino operator, said it has experienced significant growth in the value of its operations while gearing has been reduced due to strong cash flows and debt repayments.


Read more at Reuters Africa

Treasuries Little Changed as First-Quarter Productivity Matches Forecast

(Bloomberg) -- Treasuries were little changed after a
measure of U.S. worker productivity in the first quarter matched
economists' forecasts.

U.S. notes declined yesterday as the yield on the two-year
security touched 5 percent for the first time since August.


Read more at Bloomberg Bonds News

Big managed care study backs Avandia, Glaxo says

(Reuters) - The findings from an analysis of a managed care database of more than 33,000 diabetes patients taking the drug as part of their daily routine, rather than in a clinical trial, were published online in Pharmacoepidemiology and Drug Safety.



The study looked at the incidence of hospitalisations for heart attack and for a surgery known as revascularisation among patients on Avandia. Glaxo had said last week that the paper was due to be published soon.


Read more at Reuters.com Government Filings News

European Government Bonds Are Little Changed as ECB Raises Interest Rates

(Bloomberg) -- European government bonds were little
changed after European Central Bank policy makers raised interest
rates and before a speech by President Jean-Claude Trichet, who
may hint at further increases in borrowing costs.

Yields on two-year notes, more sensitive to interest-rate
expectations, held near a six-year high after the ECB lifted its
main rate a quarter point to 4 percent as predicted by all 54
economists in a Bloomberg News survey. Investors are betting
rates will go higher again this year to curb inflation as
economic growth in the euro region beats expectations.


Read more at Bloomberg Bonds News

Soybeans Rise to 35-Month High in Chicago on Record Palm Oil; Wheat Gains

(Bloomberg) -- Chicago soybean futures rose for a
second day to a 35-month high on speculation demand for the
oilseed may reduce global stockpiles for food and biofuel use.
Wheat and corn futures also gained.

Soybeans, which are crushed into meal for high-protein
livestock feed and into oil for food and industrial uses, rose
after palm oil futures in Malaysia jumped for a third day to a
record on signs of sustained demand from China and India, the
biggest consumers of the vegetable oil.


Read more at Bloomberg Commodities News

U.S. mortgage applications decline in week: MBA

(Reuters) - A rise in applications to buy homes was overshadowed by the drop in refinancing applications.




The MBA's seasonally adjusted purchase index rose 1.5 percent to 433.6, but the refinancing gauge fell 6.1 percent to 1,757.1 in the June 1 week. The refinancing measure has not been lower since 1,640.4 at the end of last year.


Read more at Reuters.com Business News

U.S. Treasuries Advance as Yields at 10-Month High Attract Investors

(Bloomberg) -- U.S. Treasuries advanced as yields
near a 10-month high attracted investors.

Bonds stayed higher even as Federal Reserve Bank of
Cleveland President Sandra Pianalto said today U.S. inflation is
faster than she'd like. Yields on both two-year and 10-year
Treasuries yesterday rose to the highest since August, paced by
signs economic growth is quickening.


Read more at Bloomberg Bonds News