Areva Wins $1.3 Billion 20-Year Uranium-Enrichment Contract in South Korea

(Bloomberg) -- Areva SA, the world's largest maker
of nuclear plants, said it won a long-term uranium-enrichment
contract with Korea Hydro & Nuclear Power Co. valued at more than
1 billion euros ($1.34 billion).

The agreement will enable KHNP to ``secure its nuclear fuel
supply at a competitive price'' and Areva to ``develop stable and
long term partnerships with major utilities,'' Paris-based Areva
said in an e-mailed statement.


Read more at Bloomberg Energy News

U.S. Stocks Retreat on Drop in Housing Starts; Lennar, Best Buy Decline

(Bloomberg) -- U.S. stocks fell a second day after
housing starts dropped in May, stoking concern the real-estate
slump will continue to weigh on economic growth.

NVR Inc., Centex Corp. and Hovnanian Enterprise Inc. led
declines in homebuilders. Best Buy Co., the biggest consumer
electronics chain, slid after reporting earnings that trailed
analyst estimates.


Read more at Bloomberg Stocks News

Treasuries Rise a Third Day as Housing Starts Decline to a Four-Month Low

(Bloomberg) -- U.S. Treasuries rose for a third
straight day after a government report showed home construction
slowed to a four-month low in May.

The consecutive declines in yields on benchmark 10-year
notes is the longest streak in two months. Yields on the
securities had touched the highest in five-years last week as
investors pared expectations for the Federal Reserve to reduce
interest rates this year.


Read more at Bloomberg Bonds News

Safran says strong euro hurting European aerospace

(Reuters) - PARIS, June 19 - The euro's strength against the dollar is hurting the European aerospace industry, the chief executive of French aerospace and electronics group Safran said on Tuesday.



The weakening of the dollar is "a real problem ... a serious problem", Jean-Francois Bechat told French radio BFM from the Paris air show.


Read more at Reuters.com Mergers News

European Stocks Drop, Led by Tesco, Carrefour; Ryanair Falls on Forecast

(Bloomberg) -- European stocks fell after Tesco Plc,
the U.K.'s largest supermarket operator, predicted a ``tougher
year'' because of higher interest rates and increased
competition. Marks & Spencer Plc and Carrefour SA declined.

Ryanair Holdings Plc led airlines lower after Europe's largest
low-cost carrier forecast a ``big downturn'' for the industry.
Invensys Plc gained after Citigroup Inc. recommended buying the
stock on prospects for higher profitability. Thales SA rose the
most in three months after the defense company was shortlisted for
a $2.7 billion contract from the U.S. Navy.


Read more at Bloomberg Stocks News

U.S. Stock-Index Futures Fall on Housing Data; Best Buy, Lennar Retreat

(Bloomberg) -- U.S. stock-index futures fell after
housing starts dropped in May, stoking concern the real-estate
slump will continue to weigh on economic growth.

Lennar Corp., the largest U.S. homebuilder, declined. Best
Buy Co., the biggest consumer electronics chain, slid after
reporting earnings that trailed analyst estimates.


Read more at Bloomberg Stocks News

Best Buy post disappointing profit

(Reuters) - Best Buy reported net income of $192 million, or 39 cents a share for its fiscal first quarter that ended June 2, from $234 million, or 47 cents per share, a year earlier.




Analysts, on average, had been expecting it to earn 50 cents per share, according to Reuters Estimates.


Read more at Reuters.com Business News

UPDATE 1-Critical for Fed to understand labor changes-Minehan

(Reuters) - "Questions about the quality and quantity of labor supply
is critical to the policy setting ... and the economy," she
said in opening remarks to a Boston Fed conference on labor
supply.




She pointed to falling labor force participation, and how
that could affect employment data.


Read more at Reuters.com Bonds 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 Bonds News

US STOCKS-Wall St seen open lower as Best Buy disappoints

(Reuters) - Shares of Best Buy, the leading U.S. electronics chain,
dropped 4 percent to $46.10 in electronic trade before the
bell, while shares of No. 2-ranked rival Circuit City Stores
fell more than 2 percent to $16.19.




A report showing a drop in the pace of May U.S. home
construction that was slightly smaller than expected helped
stock futures briefly trim losses. For details see
[ID:nN19459104].


Read more at Reuters.com Bonds News

GE Buys Control of Regency Energy, Louisiana Pipeline for $603 Million

(Bloomberg) -- General Electric Co. acquired
controlling interests in Regency Energy Partners LP and a
Louisiana pipeline from HM Capital Partners LP for $603 million.

The purchase included 91 percent of Dallas-based Regency's
general partner and 16.7 million subordinated units, Fairfield,
Connecticut-based GE said today in a statement on Business Wire.


Read more at Bloomberg Energy News

Kenya to sell $150 mln eurobond in '08 fiscal year

(Reuters) - Kenya plans to issue a $150 million Eurobond in the 2008 fiscal year and expects to sell half its stake in mobile phone operator Safaricom by the end of calendar year 2007, a senior Treasury official said on Tuesday.

Joseph Kinyua, permanent secretary to the Treasury responsible for economic and financial policy, told Reuters: "We plan to sell a $150 million Eurobond in the course of fiscal year 2008."


Read more at Reuters Africa

Actuant Q3 profit up, raises 2007 view

(Reuters) - June 19 - Controls and hydraulic tools maker Actuant Corp. said quarterly profit rose, driven by strong sales growth in three of its four segments.



The company also raised its fiscal 2007 outlook for the third time in a row and gave fourth-quarter earnings estimates, the top end of which was in line with Wall Street expectations.


Read more at Reuters.com Market 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

Humana to buy dental and vision benefits provider

(Reuters) - Atlanta-based CompBenefits provides dental and vision benefit plans to more than 4.8 million members, Humana said.



"When combined with our current HumanaDental business unit, this acquisition will give Humana the type of comprehensive integrated product offering that employers are seeking," Humana CEO Mike McCallister said in a statement.


Read more at Reuters.com Bonds News

New Clicks buys back a further 11.7 mln shares

(Reuters) - South African retailer New Clicks has bought back a further 11.7 million shares or 3.29 percent of its issued share capital at a total cost of 190 million rand from its own cash, the company said on Tuesday.

The repurchases were carried out between May 18 and June 15 this year at an average price of 16.20 per share, the firm said.


Read more at Reuters Africa

Europe's Biggest Hedge Funds Form Committee to Consider Tighter Standards

(Bloomberg) -- Hedge funds may become more strict
in managing risks and valuing assets following recommendations
of a taskforce supported by many of Europe's largest funds.

Hedge funds including GLG Partners LP, Man Group Plc and
CQS U.K. LLP have enlisted Andrew Large, a former deputy
governor of the Bank of England, to chair a committee that will
assess the need to tighten regulations next year for the $1.6
trillion industry, according to a preliminary press statement
obtained by Bloomberg News.


Read more at Bloomberg Stocks News

Lululemon sees IPO of 18.2 mln shares

(Reuters) - An application has been made for quotation on the Nasdaq
Global Market under the symbol "LULU" and will be made on the
Toronto Stock Exchange under the symbol "LLL", the retailer of
yoga-inspired athletic apparel in North America said in a
regulatory filing.





Read more at Reuters.com Government Filings News

CanWest Global, CCS Income, Mega Brands and Onex: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets
today. Stock symbols are in parentheses after company names and
prices are from yesterday's close.

The Standard & Poor's/TSX Composite Index gained 39.01, or 0.3
percent, to a record 14,176.42, yesterday in Toronto.


Read more at Bloomberg Stocks News

Marathon Oil Gulf Zone Bonds, Houston Deal Lead U.S. Tax-Exempt Bond Sales

(Bloomberg) -- Marathon Oil Corp., Wisconsin and
Houston will borrow a combined $2 billion in today's largest
sales of U.S. tax-exempt debt.

Marathon Oil will sell $1 billion of 30-year bonds through
Louisiana's St. John the Baptist Parish to expand the last new
refinery built in the U.S. Wisconsin will take bids from
underwriters for $600 million of state cash-flow notes due in a
year. Houston will offer $400 million of bonds to pay off
commercial paper for the city's water and sewer system.


Read more at Bloomberg 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

Asian Exporter Stocks Fall, Led by Nissan, on U.S. Homes Data; ICICI Rises

(Bloomberg) -- Asian exporter stocks fell after a
report showed confidence in the U.S. homebuilding industry
slipped to a 16-year low and oil prices traded near the highest
in nine months.

Nissan Motor Co. and James Hardie Industries NV led a drop
among companies that rely on U.S. sales on concern growth in the
world's largest economy will slow. Tokyo Electric Power Co. and
Hanjin Shipping Co. fell on speculation rising fuel costs will
erode profits, while Woodside Petroleum Ltd. gained.


Read more at Bloomberg Stocks 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

Air Products plans 3-year 250 mln euro FRN -lead

(Reuters) - The deal will be launched in the near future, subject to
market conditions.




Bank of America Securities Ltd and JP Morgan are joint lead
managers.


Read more at Reuters.com Bonds News

UPDATE 1-Canada May core inflation cools from April spike

(Reuters) - Indeed, the rate would have been closer to 2.1 percent if
not for the introduction of an updated basket of goods used to
calculate the consumer price index.




The total inflation rate stayed unchanged at 2.2 percent
but also would have been 2.1 percent in May under the old
basket, used through April.


Read more at Reuters.com Economic News

Futures dip ahead of data, Yahoo up

(Reuters) - Shares of Internet media company Yahoo Inc. traded up more than 5 percent in Europe, however, so a bounce in technology could cushion the market.




Data on U.S. housing starts is due before the bell, a day after a survey showed sentiment among U.S. home builders fell in June to the lowest since February 1991.


Read more at Reuters.com Business News

Linktone to acquire 49 pct stake in eChinaCash unit

(Reuters) - Financial terms of the deal were not disclosed.





Read more at Reuters.com Mergers News

Lear raises outlook on strong light-truck market

(Reuters) - Lear also raised its full-year core operating earnings
estimate to between $600 million and $640 million from $580 to
$620 million. It said vehicle production levels in North
America should be steady for the rest of the year.




Read more at Reuters.com Market News

Stock futures dip but Yahoo may support Wall St

(Reuters) - A surprisingly weak reading on German investor confidence prompted European shares to pare gains, which knocked Standard & Poor's 500 and Nasdaq 100 futures .




"Bond yields going higher, that's getting people nervous and the sell-off in European markets is also doing it," said Steve Previs, senior vice president at Jefferies International.


Read more at Reuters.com Hot Stocks News

Resource nationalism on its way to Africa

(Reuters) - High raw materials prices are emboldening resource-rich African states to drive harder bargains with investors, but governments will not hold the whip hand until they are less dependent on foreign money.

"Resource nationalism is exactly what is happening," Tim Williams, Director of Metals and Mining at Ernst & Young, said.


Read more at Reuters Africa

Expedia to buy back up to $3.5 billion in stock

(Reuters) - The tender offer is set to begin next week and to expire the week of Aug. 6, Expedia said. It said it would pay $27.50 to $30 per share, compared with its Monday close of $25.50.



) Keywords: EXPEDIA BUYBACK


Read more at Reuters.com Mergers 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

U.S. Stock-Index Futures Fall; Home Depot, Microchip Decline in Europe

(Bloomberg) -- U.S. stock-index futures fell before
a housing report that may show the real-estate slump will
continue to weigh on economic growth.

Home Depot Inc., the world's largest home-improvement chain,
slipped in Europe. Microchip Technology Inc. dropped after the
maker of microcontrollers and analog chips cut its fiscal first-
quarter sales forecast.


Read more at Bloomberg Stocks News

UPDATE 2-Japan manufacturers' confidence up -Reuters Tankan

(Reuters) - TOKYO, June 19 - Japanese manufacturers' business
sentiment nudged up to a five-month high in June, a Reuters
survey showed on Tuesday, signaling that manufacturers remain the
drivers behind the country's economic growth.




Sentiment of services firms such as retailers worsened for a
second month to a 15-month low, however, a sign that the
country's growth is still uneven and possibly hinting that
household consumption is slowing.


Read more at Reuters.com Economic 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

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

REFILE-Ron Burkle may bid for Dow Jones this week -report

(Reuters) - Burkle, a member of Yahoo! Inc.'s board of
directors, has been trying to enlist Yahoo! as a partner for a
bid, according to the report.




Burkle is also considering other partnerships in conjunction
with Dow Jones's union, Fortune said, citing a source in the
Burkle camp and adding that the billionaire has a history of
being a strong union supporter.


Read more at Reuters.com Mergers News

U.S. Stock-Index Futures Are Little Changed; Yahoo Gains, Microchip Falls

(Bloomberg) -- U.S. stock-index futures were little
changed before a housing report that may show the real-estate
slump will continue to weigh on economic growth.

Yahoo! Inc. climbed in Europe after the owner of the
country's most-visited Web site said Chief Executive Officer
Terry Semel stepped down and was replaced by co-founder Jerry
Yang. Exxon Mobil Corp. gained as oil traded near a nine-month
high.


Read more at Bloomberg Stocks News

Zambia boosts 2007 maize exports to 350,000 T

(Reuters) - Zambia will allow 100,000 tonnes of additional white maize exports this year bringing the total to 350,000 tonnes, Agriculture Minister Ben Kapita told Reuters in an interview on Tuesday.

The move comes after the country recorded surpluses in the last three agricultural seasons, Kapita said.


Read more at Reuters Africa

Oil Declines as Traders Conclude Gains to Nine-Month High Were Unjustified

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York as some traders speculated recent gains that
followed unrest in Nigeria were unjustified.

Nigeria's two main oil unions said yesterday they planned to
join a general strike scheduled to start tomorrow. In addition,
Chevron Corp. and Eni SpA reported raids on facilities in the West
African nation, Africa's biggest oil producer.


Read more at Bloomberg Commodities News

Yen hits record low vs euro as carry continues

(Reuters) - The yen has fallen across the board since the Bank of Japan last week kept interest rates on hold at 0.5 percent and Governor Toshihiko Fukui said he had no preconceived ideas about a future rate rise, dousing expectations of a hike in July.




Most market players are looking for the BOJ to raise rates to a 12-year high of 0.75 percent in August, but such a move is not expected to dull the allure of carry trades -- borrowing cheaply in low-yielding units to buy higher-yielding currencies.


Read more at Reuters.com Hot Stocks News

"Near-recessionary" growth until '08: report

(Reuters) - Exports, business investment and wealthy consumers will
help propel the recovery from below-trend growth through the
first quarter of next year, according to the outlook by the
UCLA Anderson Forecast unit.




The economic forecasting unit sees the Federal Reserve as
hesitant to lower interest rates despite the first quarter's
weak growth and an outlook for "continued softness" this year
while core inflation holds above its "comfort zone."


Read more at Reuters.com Economic News

Cautious consumers slow Tesco's UK growth in Q1

(Reuters) - By Rachel Sanderson



LONDON, June 19 - Tesco , the world's fifth-largest retailer, reported a slowdown in its core UK sales in the first quarter and said it expected a "tougher year" as four interest rate hikes make consumers wary.


Read more at Reuters.com Mergers News

Sweden's Economy Will Expand 3.6 Percent in 2007, 3.7 Percent Next Year

(Bloomberg) -- Sweden's economy will expand 3.6
percent this year, less than previously forecast, after a slowdown
in exports at the start of the year, the National Institute of
Economic Research estimated.

Growth will pick up to 3.7 percent next year, and slow to 3
percent in 2009, the Stockholm-based, government-sponsored group
said in an e-mail today. The NIER in March forecast growth of 3.9
percent this year and 3.4 percent in 2008. Gross domestic product
expanded 4.2 percent last year, the most since 2000.


Read more at Bloomberg Currencies News

Vattenfall Says Start of Sweden's Ringhals-3 Reactor Delayed a Second Time

(Bloomberg) -- Vattenfall AB, the Nordic region's
biggest utility, said it will delay the resumption of power
generation at its Ringhals-3 nuclear reactor by nine days after
annual maintenance.

The 1,040-megawatt Swedish generation unit is now scheduled
to start on July 6, Vattenfall said today in a statement
circulated by the Nord Pool ASA power exchange. It was initially
due to start on June 16 and the company said on June 11 it would
delay the start to June 27.


Read more at Bloomberg Energy News

'Near-recessionary' U.S. growth until '08-report

(Reuters) - Exports, business investment and wealthy consumers will
help propel the recovery from below-trend growth through the
first quarter of next year, according to the outlook by the
UCLA Anderson Forecast unit.




The economic forecasting unit sees the Federal Reserve as
hesitant to lower interest rates despite the first quarter's
weak growth and an outlook for "continued softness" this year
while core inflation holds above its "comfort zone."


Read more at Reuters.com Bonds News

FTSE ticks up; slower sales growth hits Tesco

(Reuters) - The UK's leading share index ticked higher on Tuesday as miners steamed ahead but Britain's largest retailer Tesco slid after announcing a slowdown in UK sales growth.

By 0743 GMT the FTSE 100 was up 8.1 points, or 0.12 percent, at 6,711.6.


Read more at Reuters Africa

Fired London Traders Try to Use U.K. Whistle-Blower Law to Win Big Payout

(Bloomberg) -- Cantor Fitzgerald LP says it refused
to pay the former head of a U.K. trading unit millions of dollars
in incentives because he'd quit. Lewis Findlay says he was pushed
out for complaining about business practices and is using a
whistle-blower law to seek $30 million.

The lawsuit is one of at least 10 in London courts involving
executives earning six-figure salaries who are suing under
legislation designed to protect employees who raise workplace
concerns about illegal or dangerous behavior.


Read more at Bloomberg Exclusive News

Oil holds above $72, near 10-month high on Nigeria

(Reuters) - London benchmark Brent crude edged 16 cents lower to $72.02 a barrel by 0650 GMT after touching an intra-day peak of $72.25 on Monday, its highest since August 28.




U.S. light sweet crude eased 11 cents to $68.98 a barrel, paring only a fraction of Monday's $1.09 rise, the fourth day of a rally that has lifted prices by nearly $4.


Read more at Reuters.com Hot Stocks News