U.K. Pound May Gain on Views Minutes, M4 to Back Higher Interest Rates

(Bloomberg) -- The pound may advance on speculation
the minutes of the Bank of England's June meeting and economic
reports this week will reinforce the case for higher interest
rates to slow the economy.

Since the June 7 meeting Governor Mervyn King and Paul
Tucker again expressed concern about inflation, underpinning
expectations for an increase in borrowing costs. The bank will
probably say June 20 that M4 money supply, closely watched by
rate setters for signs of inflation, rose for a third week.


Read more at Bloomberg Currencies News

BHP Billiton revives Alcoa bid plans: paper

(Reuters) - Alcoa has itself made a $28.4 billion cash-and-stock hostile takeover offer for Alcan Inc. .




BHP was not immediately available for comment.


Read more at Reuters.com Business News

JGB futures climb on Fukui, Treasury gains boost

(Reuters) - A rally in U.S. Treasuries on Friday also encouraged market
players to cover short positions in JGBs, which had been sold off
in the previous four weeks on a spike in global bond yields, as
well as on worries of a BOJ rate hike as early as July.




Fukui said the central bank wanted to be more convinced of
the sustainability of capital spending and consumption before
changing monetary policy, relieving some who had been worried
about an interest rate hike next month.


Read more at Reuters.com Bonds News

Cemex, Embraer, Gol and Grupo Mexico: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

London House Prices Climb at Slowest Pace in Five Months, Rightmove Says

(Bloomberg) -- London house prices rose at the
slowest pace in five months in June as the cost of a home fell in
more than half of the U.K. capital's areas, Rightmove Plc said.

Asking prices increased 0.7 percent from a month earlier to
387,898 pounds ($764,000), half the pace of May, as values fell
in 17 of the city's 32 districts, the U.K.'s biggest real-estate
Web site said in a statement today. Gains across the U.K.
outpaced London for the first time since January, with a 0.8
percent increase in June.


Read more at Bloomberg Bonds News

US Airways to Order 90 Airbus Planes Valued at $10.7 Billion, Person Says

(Bloomberg) -- US Airways Group Inc. plans to order
at least 90 Airbus SAS aircraft valued at more than $10.7
billion to replace planes and add long-range jets, a person with
direct knowledge of the sale said.

US Airways will purchase about 60 single-aisle Airbus A320
aircraft, eight wide-body A330s and 22 long-range A350 XWB jets,
said the person, who asked not to be identified before today's
announcement at the Paris air show. US Airways, the seventh-
largest U.S. carrier, chose the Airbus planes over Boeing Co.'s
737 and 787 Dreamliner models after months of negotiations.


Read more at Bloomberg Currencies News

Akzo Nobel says ICI rejected approach

(Reuters) - Akzo did not give any financial details. A source told
Reuters on Sunday it had offered about 600 pence a share.




ICI shares closed on Friday at 546.5 pence, giving it a
market capitalisation of 6.56 billion pounds.


Read more at Reuters.com Mergers News

European Bonds May Decline on Speculation Investor Confidence to Increase

(Bloomberg) -- European government bonds may fall
on speculation accelerating growth in the $10.4 trillion euro
region economy will prompt central bank officials to raising
interest rates.

European debt had the longest run of weekly losses since
January last week, with benchmark 10-year yields touching the
highest since August 2002. Bonds may extend losses before the
release of a report tomorrow expected to show German investor
confidence on the economy rose to the highest in a year.


Read more at Bloomberg Bonds News

Japan Q1 output gap revised up to 15-year high

(Reuters) - It compared with an initial reading of plus 0.7 percent
thanks to an upward revision to the first quarter's gross
domestic product data released last Monday.




A positive output gap means there is more demand than supply
in the economy, which increases inflationary pressure.


Read more at Reuters.com Economic News

UPDATE 1-Blackstone to buy India back-office firm Intelenet

(Reuters) - The deal could be valued at $200 million, the Economic
Times newspaper said, quoting unnamed sources.




Mumbai-based Intelenet, with 18 centres in India and abroad
and clients in the United States, UK, Australia and India, is
equally owned by British bank Barclays and Indian
mortgage firm Housing Development Finance Corp.
.


Read more at Reuters.com Mergers News

Asia stocks hit record high after U.S. rally

(Reuters) - The yen plumbed a record low against the euro, still feeling the effects of comments from Japan's central bank governor on Friday that reduced expectations for a rise in interest rates in July.




The dollar stayed at a one-week low against the euro after the U.S. inflation report, underpinning spot gold , which rose to a 1-½ week peak above $656 an ounce, while oil held firm amid supply worries at a time of peak summer gasoline demand in the United States.


Read more at Reuters.com Hot Stocks News

Malaysia's Khazanah May Sell More Convertible Bonds to Cut Equity Stakes

(Bloomberg) -- Khazanah Nasional Bhd., Malaysia's
state investment arm, may sell more dollar-denominated bonds
that can be converted into shares of government-linked companies,
a company spokesman said.

Khazanah may add to its sales of Islamic convertible bonds
after raising $750 million in September through selling
securities that can be redeemed for shares of Telekom Malaysia
Bhd. held by Khazanah. The offering was Southeast Asia's biggest
of Islamic convertible debt.


Read more at Bloomberg Bonds News

BC Partners in lead to buy Intelsat-WSJ

(Reuters) - None of the companies mentioned in the report was immediately available to comment.




Intelsat assets are in demand amid a renaissance in the commercial satellite market that is spurred by demand for high-definition television and faster Internet services.


Read more at Reuters.com Mergers News

Asian Stocks Gain on Yen, Commodities; Toyota Rises, China Reaches Record

(Bloomberg) -- Asian stocks rose for a third day as
prices of metals and crude oil advanced and the yen weakened
against the dollar.

BHP Billiton Ltd. rose to a third straight record, while Rio
Tinto Group became the first A$100 share on the Australian stock
exchange. Toyota Motor Corp. gained on expectations declines in
the yen will help boost exporters' dollar-denominated sales and
as a report showed U.S. core inflation slowed.


Read more at Bloomberg Stocks News

Allianz, Deutsche Bank, Hochtief, Metro, Volkswagen: German Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in German markets today.

Germany's X-DAX Index rose 2.1 percent June 15. The index
provides an estimate of the DAX Index, based on trading in DAX
futures after the Xetra electronic market closes. Germany's
benchmark DAX jumped 181.48, or 2.3 percent, to 8030.64 on the
Xetra electronic-trading system.


Read more at Bloomberg Stocks News

CV Therapeutics, Emeritus, Lehman Brothers, Lexicon: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes on U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed two days ago. Stock symbols are in parentheses after
company names.

Alleghany Corp. (Y US): Shares of the U.S. insurance and
investment company that's similar to Warren Buffett's Berkshire
Hathaway Inc. may surge 50 percent in the next three years,
Barron's reported, without citing anyone. Alleghany stock rose
$6.98 to $370.98 on June 15.


Read more at Bloomberg Stocks News

Copper Rises in Asian Trade on Strike Concern, U.S. Economy; Zinc Declines

(Bloomberg) -- Copper prices rose in Asia on
concern that labor unrest in Chile may disrupt supply, and as
lower-than-expected U.S. inflation boosted the outlook for
demand in the U.S., the world's second-biggest consumer of the
metal.

Chile's Codelco, the world's biggest copper producer, faces
protests by workers demanding bigger bonuses, a union leader
said June 15. In the U.S., chances of an interest rate rise,
which might slow economic growth and copper consumption, were
reduced as consumer prices, excluding food and fuel, rose 0.1
percent last month, compared with 0.2 percent projected by
economists.


Read more at Bloomberg Commodities News

Hong Kong leader backs cross-border listings: FT

(Reuters) - "There's no reason why ... stocks listed in Shanghai cannot through some financial instruments be traded in Hong Kong," Tsang said in an interview with the newspaper.




"Similarly, I do not see why Hong Kong stocks cannot be co-listed in the Shanghai stock market through an arbitrage arrangement ... We are discussing the mechanics of it."


Read more at Reuters.com Business News

Taiwan's CPC Corp. Buys 22,000 Tons of LPG at Premium for Delivery in July

(Bloomberg) -- CPC Corp., Taiwan's state oil refiner,
bought 22,000 metric tons of liquefied petroleum gas at a premium
of between $30 and $40 to Saudi Aramco's July contract price for
delivery next month, said two traders with knowledge of the
transaction.

Details of the purchase are as follows:


Read more at Bloomberg Energy News

Asian Stocks Rise for Third Day on U.S. Inflation, Yen; Toyota Advances

(Bloomberg) -- Asian stocks rose for a third day
after a measure of U.S. inflation cooled and the yen weakened
against the dollar and euro, helping improve earnings prospects
for the region's exporters.

Samsung Electronics Co. and Toyota Motor Corp. led gains
among technology companies and automakers. BHP Billiton Ltd.,
the world's No. 1 mining company, climbed after metals prices
advanced. China's CSI 300 Index opened 2.5 percent higher, set
for a record.


Read more at Bloomberg Emerging Markets News

China Communications Services Will Buy $607 Million of Assets From Parent

(Bloomberg) -- China Communications Services Corp.,
the engineering unit of China's biggest fixed-line phone operator,
said it will buy 4.63 billion yuan ($607 million) of
telecommunications assets from its parent.

The company will use 1.2 billion yuan from its initial
public offering proceeds and 1.4 billion yuan of its own cash to
pay for the acquisition, China Communications said in a statement
to the Hong Kong Stock Exchange. The company said it will borrow
the rest of the funds needed.


Read more at Bloomberg Emerging Markets News

PRESS DIGEST - Financial Times - June 18

(Reuters) - Private equity aficionado Guy Hands has defended the tax
system that governs the industry following criticism of the
existing structure. Hands said: "Unlike the bonus and option
system used to reward listed company directors, carry is
risk capital and should be taxed as such." Hands' comments came
ahead of a Treasury select committee meeting on Wednesday that
is expected to put the issue of tax to the leaders of five
private equity firms. The executives are expected to argue
private equity is key to the City's valuable financial services
sector and warn that any tightening of the tax code is likely to
prompt the industry to move to countries with more favourable
systems.




CBI CHIEF FEARS "WHOPPER" OF A BRUSSELS THREAT OVER FLEXIBLE
LABOUR MARKET


Read more at Reuters.com Mergers News

Fiat May Find Ferrari-Sized Performance for Shareholders With `500' Sales

(Bloomberg) -- Fiat SpA's Chief Executive Officer
Sergio Marchionne cut costs and overhauled management since
becoming CEO in 2004, ending losses of more than $2 billion a
year and tripling the carmaker's share value.

His next challenge is to catch up with rival European
automakers Volkswagen AG and Renault SA. He's banking on bringing
back a 1950s-era Italian ``people's car'' -- revamped by the man
responsible for Ferrari's F430 -- to help drive earnings and
shares even higher.


Read more at Bloomberg Exclusive News

China's Shares Surge, Completing Recovery From Rout; Merchants Bank Climbs

(Bloomberg) -- China's key stock index rose, set
for its first record close of the month. China Merchants Bank Co.
led the advance.

The CSI 300 Index, which tracks yuan-denominated A shares
listed on China's two exchanges, gained 102.80, or 2.5 percent,
to 4202.18 as of 9:33 a.m. local time, exceeding the previous
high of 4168.29 on May 29.


Read more at Bloomberg Stocks News

Dow Jones rival bid plan may include family: reports

(Reuters) - Selling Dow Jones, publisher of The Wall Street Journal, to GE and Pearson, would be a better journalistic fit than News Corp., but there is "no rush" to examine the plan, an unidentified Bancroft family member told the Financial Times.




Talks are at an early stage and could collapse or result in another structure for a Dow Jones bid, both papers reported.


Read more at Reuters.com Business News

Japan Shares Rise to Highest Since February, on Easing U.S. Inflation, Yen

(Bloomberg) -- Japanese stocks advanced, driving
key indexes to the highest since February, after a report showed
U.S. core consumer prices slowed, increasing speculation Japan's
biggest overseas market will expand without adding to inflation.

Toyota Motor Corp., the world's largest automaker by market
value, climbed to the highest since March and Canon Inc., which
made almost one third of its sales in North America last year,
had the biggest gain in a month.


Read more at Bloomberg Stocks News

UBS cuts earnings forecasts for S.Korean chip makers

(Reuters) - The investment bank said it would lower its 2007 net income
forecast for Samsung Electronics Co. Ltd. by 6.9
percent to 8.3 trillion won and its 2008
estimate by 4.6 percent to 10.4 trillion won.




UBS also cut its share target price on Samsung to 670,000
won from 690,000 won. Shares in the world's biggest maker of
memory chips were up 0.7 percent to 578,000 won by 0047 GMT,
following tame U.S. inflation data.


Read more at Reuters.com Hot Stocks News

Dollar May Decline Against Yen on Concern Reports to Show Housing Slowdown

(Bloomberg) -- The dollar may weaken from near a 4
1/2-year high against the yen before U.S. government reports
this week that are likely to show a slump in the housing market.

U.S. Treasury yields, close to the highest in five years,
may increase borrowing costs for home owners and depress house
prices, threatening expansion in the world's largest economy.
The dollar declined against 11 of the 16 most-traded currencies
last quarter when housing starts tumbled to the lowest since
1997.


Read more at Bloomberg Currencies News

South Korea's Kospi Index Climbs, Led by, Samsung, LG.Philips, SK Corp.

(Bloomberg) -- South Korea's benchmark stock index,
the Kospi Index, rose 0.90 percent at 9:05 a.m.

The index of 730 companies traded on the Korea Exchange rose
15.92 to 1,788.18. Among the stocks in the index, 489 rose, 136
fell and 105 were unchanged.


Read more at Bloomberg Stocks News

JGB futures rise on Fukui comments, Treasury rally

(Reuters) - September futures rose 0.40 point on the day to
131.70, moving away from a seven-year low of 130.76 hit last
week.




The benchmark 10-year yield dropped 5 basis
points to 1.885 percent, moving away from an 11-month high of
1.985 percent hit last week.


Read more at Reuters.com Bonds News

China, Indonesia, Malaysia, Singapore, Sri Lanka: Asia Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian local-currency bonds
today. Yields are from the previous session.

China: The government will sell 30 billion yuan ($3.9
billion) of 10-year bonds on June 22. It sold the same maturity
on March 21 at a yield of 3.4 percent. Fixed-asset investments
in China rose 25.9 percent in the first five months from a year
earlier, topping the 25.5 percent increase in the first four
months, a June 15 report showed.


Read more at Bloomberg Bonds News

South Korean Department Store Sales Fall for Second Month on Lending Clamp

(Bloomberg) -- South Korea's department store sales
declined for a second month in May as a clampdown on the housing
market reduced home sales and sapped demand for home appliances
and furniture.

Sales at the nation's three biggest department store chains
dropped 0.1 percent from a year earlier after shedding 2.3
percent in April, the Commerce Ministry said today in Gwacheon,
South Korea.


Read more at Bloomberg Bonds News

Chipmakers, Exporters, Lotte, Samsung Corp.: South Korea Stock Preview

(Bloomberg) -- The following shares may rise or fall
in South Korea. Prices refer to the June 15 close. This preview
includes news announced after markets shut. Stock symbols are in
brackets after the company names.

The Kospi index added 0.2 percent to a record 1772.26. The
Kosdaq climbed 2.3 percent to 800.61. Kospi 200 futures expiring
in September advanced 0.2 percent to 225.90, while the underlying
index gained 0.1 percent to 224.61.


Read more at Bloomberg Stocks News

BHP Billiton to Spend $300 Million to Reduce Its Greenhouse Gas Emissions

(Bloomberg) -- BHP Billiton Ltd., the world's
largest mining company, will spend $300 million over five years
developing technology and projects to reduce its greenhouse gas
emissions.

Accelerated action is needed to stabilize greenhouse gas
concentrations in the atmosphere at levels guided by United
Nations' research, the Melbourne-based company said today in a
climate change policy presented in a statement to the Australian
Stock Exchange.


Read more at Bloomberg Energy News

Housewives Outmaneuver UBS, Deutsche Bank as Yen Trading Captivates Japan

(Bloomberg) -- Japanese businessmen, housewives and
pensioners betting against the yen in their spare time are
wrecking the forecasts of the world's biggest currency traders.

The yen has slumped 4.6 percent to a 4 1/2-year low against
the dollar this quarter, making it the worst performer among 72
major currencies and confounding predictions by strategists at
Deutsche Bank AG and UBS AG for gains of about 1 percent.


Read more at Bloomberg Currencies News

Delek US Holdings Releases Sour Gas Vapor at Its Refinery in Tyler, Texas

(Bloomberg) -- Delek US Holdings Inc., a U.S. oil
refiner, released sour gas vapor yesterday from its refinery in
Tyler, Texas.

The company reported the incident to the Texas Commission on
Environmental Quality. Franklin, Tennessee-based Delek is a unit
of Israel's Delek Group Ltd.


Read more at Bloomberg Energy News

UPDATE 1-Dow Jones rival bid plan may include family-papers

(Reuters) - One option for GE and Pearson would be to allow the
Bancroft family to keep a 20 percent stake in the company,
reported the Financial Times, which is published by Pearson.




Selling Dow Jones, publisher of The Wall Street Journal, to
GE and Pearson, would be a better journalistic fit than News
Corp., but there is "no rush" to examine the plan, an
unidentified Bancroft family member told the Financial Times.


Read more at Reuters.com Mergers News

Lehman Brothers rising as banking power: Barron's

(Reuters) - This offers investors who are comfortable with going against the crowd or moving ahead of it the chance to buy the weak stock of a firm with a stable franchise that is on the rise, Barron's said.




One complaint about Lehman, however, is that at $600 billion, its balance sheet is not big enough to do many big deals, the paper reported. Goldman's balance sheet is $912 billion, while Morgan Stanley's is more than $1.2 trillion, Barron's said. Citigroup's is about $2 trillion and JPMorgan's is about $1.4 trillion, it said.


Read more at Reuters.com Business News

RPT-AIRSHOW-Boeing shifts green pressure onto engine makers

(Reuters) - PARIS, June 17 - The head of Boeing Co.'s
commercial aircraft unit on Sunday backed a call by rival
Airbus to work closely on producing more environmentally
friendly planes, but said real progress was the responsibility
of jet engine makers, rather than plane builders.




"The questions you ask are more appropriately addressed by
the engine guys than the airframe guys," the chief executive of
Boeing's commercial plane unit said, when pressed on green
issues at a briefing with reporters in Paris on Sunday. "We're
pushing the engine guys as hard as anyone else."


Read more at Reuters.com Bonds News

IPhone seen boosting AT&T, hurting Sprint

(Reuters) - At $500, the iPhone will not convince the average shopper to buy it when sales begin on June 29, surveys show. But those with that kind of cash to spare could prove to be most valuable to the iPhone's exclusive U.S. carrier, AT&T, analysts said.




Wealthier individuals tend to pay monthly bills and are called post-paid subscribers. They are valued over customers who use prepay phone cards and tend to defect to other providers more easily.


Read more at Reuters.com Business News

RPT-IPO VIEW-Blackstone may have to cut range for IPO

(Reuters) - NEW YORK, June 17 - Blackstone Group LP [BG.UL]
could have to cut the expected price range for its initial
public offering in the face of possibly troublesome tax
legislation and rising bond yields, some portfolio managers and
analysts said on Friday.




Those investors expect the week's events to cut the price
guidance anywhere from 2 percent to 6 percent.


Read more at Reuters.com Bonds News

RPT-Bay Street Week Ahead-Rising C$ puts squeeze on big oil

(Reuters) - CALGARY, Alberta, June 17 - Spurred on by rising
crude prices, the shares of Canada's oil producers have posted
big gains in recent months as investors anticipate higher
earnings for the sector.




But that market strength may moderate as a rising Canadian
dollar eats into the profits.


Read more at Reuters.com Market News

Israel's Index Gains, Led by Electronic-Payment Equipment Maker VeriFone

(Bloomberg) -- Israeli stocks gained the most since
April, led by VeriFone Holdings Inc., the world's largest maker
of electronic-payment equipment.

The TA-25 Index added 20.79, or 1.9 percent, to 1128.11 at
12:43 p.m. in Tel Aviv, the biggest one-day gain since April 4.
Twenty-four shares advanced and one declined.


Read more at Bloomberg Stocks News

GM aims to sell 100,000 Chevrolets in Germany: paper

(Reuters) - Chevrolet's European sales rose 15.6 percent in 2006 to more than 341,000 cars, including 23,132 in Germany, helping to push General Motors' overall European sales over the 2 million mark for the first time.




Sommer said Chevrolet planned to increase the number of dealers in Germany over the next two years to between 350 and 360, from 300 now, and the number of outlets to 600, from 450.


Read more at Reuters.com Business News

UPDATE 1-Israel's ECI Telecom may be bought for over $1 bln

(Reuters) - ECI has about 118 million shares outstanding, which would
make the deal worth $1.18 billion. Its shares closed at $8.92
on Nasdaq on Friday, up 3.8 percent.




Swarth is an investment vehicle controlled by Shaul Shani.


Read more at Reuters.com Mergers News