UPDATE 1-ValueClick to buy comparison shopping site operator

(Reuters) - The Westlake Village, California-based company said total
value of the deal could go up to about $352 million if certain
performance targets were met by Mezimedia.




ValueClick, which provides comparison shopping in Europe
under the PriceRunner brand, said it expects the deal to close
in August and add to its earnings per share.


Read more at Reuters.com Mergers News

Mexico's Aeromexico jumps on privatization talk

(Reuters) - Its shares were up 4.62 percent at 2.49 pesos.







Read more at Reuters.com Hot Stocks News

UPDATE 1-Barr challenges patents on Sepracor asthma drug

(Reuters) - Sepracor has filed suit in the U.S. District Court of
Delaware to prevent Barr from selling its generic, Barr said.




Xopenex, one of Sepracor's biggest-selling products, had
U.S. sales of about $610 million for the 12 months ended in
May, Barr said.


Read more at Reuters.com Government Filings News

EU Carbon Emission Permits Fall to Two-Month Low as Allocations Are Raised

(Bloomberg) -- European Union carbon dioxide permits
for 2008 fell to a two-month low after the European Commission
raised the allocation of emission allowances for Ireland and Latvia
in the five years through 2012, increasing supply.

The July 13 decision increases the total number of permits
allocated by 1.08 million metric tons of carbon dioxide a year.
Permits for December 2008 fell 89 cents, or 4.5 percent, to 19
euros ($26.19) a ton at 3:45 p.m. local time on the European
Climate Exchange in Amsterdam.


Read more at Bloomberg Energy News

Countrywide June loans rise, adds 5,800 jobs in '07

(Reuters) - The largest U.S. mortgage lender on Monday said it has added nearly 5,800 jobs this year, and boosted overall lending despite making fewer risky "subprime" loans as foreclosures more than double.




Calabasas, California-based Countrywide said it ended June with 60,427 employees, up from 59,011 in May and 54,655 at year end. It has added jobs every month this year.


Read more at Reuters.com Bonds News

Rio Prostitutes Take Cue From Athletes, Shape Up to Win at Pan Am Games

(Bloomberg) -- Rosa Silva went into training before
the Pan American Games, running 40 minutes each day and doing
200 sit-ups. She also got a full-body waxing and had her hair
straightened and highlighted.

Silva, 26, isn't one of the athletes competing for gold
medals. She's a prostitute.


Read more at Bloomberg Exclusive News

Gold Futures May Fall in New York as Euro's Rally Stalls; Silver Declines

(Bloomberg) -- Gold, little changed in New York,
may fall on speculation the euro's rally against the dollar will
stall, reducing the appeal of the precious metal as an
alternative investment. Silver fell.

Gold generally moves in tandem with the euro, which was
little changed after reaching a record against the dollar on
July 13. Before today, gold had gained 4.6 percent this year
while the euro had gained 4.4 percent against the dollar.


Read more at Bloomberg Commodities News

European Bank Stocks Advance, Led By ABN Amro; Saipem, Technip Decline

(Bloomberg) -- European bank stocks rose, led by ABN
Amro Holding NV after Royal Bank of Scotland Group Plc sweetened
its 71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. Oil-services
companies paced declines in energy shares after UBS AG cut its
recommendations on Saipem SpA and Technip SA following their
``strong performance.'' BT Group Plc, the U.K.'s largest phone
company, and drugmaker GlaxoSmithKline Plc climbed after
brokerages lifted their recommendations on the shares.


Read more at Bloomberg Stocks News

Egypt c.bank sees inflation below 7 pct by year-end

(Reuters) - Egyptian Central Bank Governor Farouk el-Okdah said on Monday he expected a further drop in the country's rate of inflation by the end of 2007.

"The inflation rate is now 8 percent and is expected to drop to 7 percent in August and under that by the end of the year," Okdah told a news conference. "This signals the success of our monetary policy."


Read more at Reuters Africa

EU Says Cyprus Must Speed Up Euro Preparation, Malta Progress `Remarkable'

(Bloomberg) -- The European Union said Cyprus must
accelerate its preparations to switch to the euro in order to
ensure a smooth changeover at the start of next year.

EU finance ministers this month cleared Cyprus and fellow
Mediterranean nation Malta to join the euro area on Jan. 1,
2008. That will bring the number of euro nations to 15, more
than half of the 27 EU members.


Read more at Bloomberg Currencies News

Sanofi obesity drug faces tough EU safety review

(Reuters) - The European Medicines Agency safety assessment comes a month after a U.S. advisory panel recommended the drug should not be approved in the world's biggest market because it may increase depression and suicidal thinking.




That decision prompted France's Sanofi to withdraw its pending application to sell the medicine in the United States, dealing a major blow to what had been its biggest new drug hope.


Read more at Reuters.com Government Filings News

Applebee's, Eaton, Marvell, Motorola, Schwab, Verizon: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed on July 13. Stock symbols are in parentheses after company
names. Share prices are as of 8:45 a.m. New York time.

Applebee's International Inc. (APPB US) rose 37 cents, or
1.5 percent, to $24.75. Ihop Corp., the biggest U.S. pancake-
house chain, agreed to buy the restaurant chain for about $1.9
billion in cash. Ihop will pay $25.50 a share, 4.6 percent more
than Applebee's closing price on July 13, the companies said
today in a statement distributed by Business Wire.


Read more at Bloomberg Stocks News

RPT-PREVIEW-Bernanke to stress price worries before Congress

(Reuters) - * When: July 18, 10 a.m. EDT before House panel




July 19, 9:30 a.m. EDT before Senate
panel


Read more at Reuters.com Bonds News

UPDATE 1-Canada May factory shipments slip on C$, metals

(Reuters) - Analysts surveyed by Reuters had forecast, on average, a
gain of 0.5 percent in the month. Shipments declined in April
by 0.7 percent, according to Statscan, which revised the figure
from the 0.6 percent decline it reported last month.




However, the volume of shipments rose 0.4 percent in
constant dollars to their highest since the beginning of 2006.


Read more at Reuters.com Economic News

IHOP to buy Applebee's for $2.1 billion

(Reuters) - NEW YORK, July 16 - Pancake restaurant IHOP Corp. plans to buy Applebee's International Inc. for $25.50 per share, the companies said on Monday.



The companies said the deal was worth $2.1 billion. Based on the number of outstanding shares in Applebee's latest quarterly filing, the deal would be worth $1.9 billion.


Read more at Reuters.com Mergers News

CORRECTS-Ipsco shareholders approve $7.7 bln sale to SSAB

(Reuters) - The deal, which required backing from two-thirds of Ipsco
shareholders, received 99.46 percent approval and clears the
way for SSAB to buy Ipsco's outstanding shares for C$160 each.




The global steel industry has seen a wave of consolidation
as producers bulk up to gain more sway over customers and
suppliers in a booming steel market.


Read more at Reuters.com Mergers News

UPDATE 1-Countrywide June loans up 4 pct

(Reuters) - Calabasas, California-based Countrywide makes roughly one in six U.S. mortgage loans. It has long said it expects to add market share as the housing slump and a growing inability among homeowners to keep up with payments cause weaker rivals to fold or lend less.




"The housing market continues to soften, and delinquencies and defaults continue to rise," Chief Operating Officer David Sambol said in a statement. "Interest rates, price competition in the residential lending markets and secondary market volatility have all increased."


Read more at Reuters.com Economic News

N.Y. Fed manufacturing index rises in July

(Reuters) - The inventories component fell to -19.75 in July from 3.19
in June, while the prices paid component eased to 34.57 in July
from 42.55 in June.




The survey of manufacturing plants in the state is one of
the earliest monthly guideposts to U.S. factory conditions.


Read more at Reuters.com Bonds News

Vodafone CDS recover as Verizon bid denied

(Reuters) - Vodafone's CDS traded 1.5 basis points wider on the day at 31.5 basis points by 1220 GMT, a trader said, having previously hit a high of 35 basis points.



Earlier on Monday, the Financial Times reported on its Alphaville Web site that Vodafone had been considering a $160 billion bid for Verizon.


Read more at Reuters.com Bonds News

Egypt to get $1.6 bln plus from Cairo bank sale - PM

(Reuters) - Egyptian Prime Minister Ahmed Nazif said on Monday he expected the privatisation of Banque du Caire to raise more than $1.6 billion in a public auction that would be open to foreign bidders with no restrictions.

Nazif's government aims to put up for auction 80 percent of the state-owned bank in six to nine months, and float another 15 percent on the stock exchange up to a year later.


Read more at Reuters Africa

Grainger posts higher quarterly profit

(Reuters) - Analysts had expected earnings of $1.19 a share, according
to Reuters Estimates.




Sales at the company, which sells such items as lighting,
motors and janitorial supplies needed by contractors and
facility managers to run their buildings, rose to $1.6 billion
from $1.48 billion. Wall Street was expecting $1.59 billion.



Read more at Reuters.com Market News

Vodafone says has no plans to bid for Verizon

(Reuters) - Earlier on Monday, the Financial Times reported on its Alphaville Web site that Vodafone had been considering a $160 billion bid for Verizon.




Read more at Reuters.com Business News

Canada's Dollar Approaches 30-Year High as Price of Crude Oil Advances

(Bloomberg) -- The Canadian dollar rose,
approaching a 30-year high, as the price of crude oil advanced,
boosting the outlook for the nation's export revenue.

The currency also strengthened before a government report
that may show manufacturing shipments strengthened in May.


Read more at Bloomberg Currencies News

Vodafone mulls $160 bln bid for Verizon - report

(Reuters) - NEW YORK, July 16 - Wireless telecommunications company Vodafone Group Plc has been considering a $160 billion takeover bid for Verizon Communications Inc. , the Financial Times reported on Monday on its Alphaville Web site.



The report triggered a 12.5 percent jump in Verizon's share price in pre-market trade.


Read more at Reuters.com Mergers News

European Bank Stocks Advance, Paed by ABN Amro; Saipem, Technip Decline

(Bloomberg) -- European bank stocks rose, led by ABN
Amro Holding NV after Royal Bank of Scotland Group Plc sweetened
its 71.1 billion-euro ($98.1 billion) offer for the Dutch lender.

ABN Amro jumped the most in three months. Oil-services
companies paced declines in energy shares after UBS AG cut its
recommendations on Saipem SpA and Technip SA following their
``strong performance.'' BT Group Plc, the U.K.'s largest phone
company, and drugmaker GlaxoSmithKline Plc advanced after
brokerages lifted their recommendations on the shares.


Read more at Bloomberg Stocks News

Verizon rises further on Vodafone bid talk

(Reuters) - Meanwhile, U.S.-listed shares of Vodafone were down 1.7 percent at $32.97 in electronic trade. In London, Vodafone shares also slipped 1.5 percent.




Read more at Reuters.com Hot Stocks News

Affymax to start late-stage studies of anemia drug

(Reuters) - If all goes as planned, it said, it expects to seek U.S.
approval for Hematide in 2010 for addressing chronic renal
failure.





Read more at Reuters.com Government Filings News

IHOP says to buy Applebee's for $2.1 billion

(Reuters) - NEW YORK, July 16 - Pancake restaurant IHOP Corp. plans to buy Applebee's International Inc. for $25.50 per share, the companies said on Monday.



The companies said the deal was worth $2.1 billion. Based on the number of outstanding shares in Applebee's latest quarterly filing, the deal would be worth $1.9 billion.


Read more at Reuters.com Bonds News

UPDATE 1-Concourse at Miami airport briefly evacuated

(Reuters) - Miami's WSVN television said the all-clear was given after
a little over an hour.




The TV station said a screener saw what might have been an
explosive device in a bag but it was a false alarm. Hundreds of
passengers at the airport's concourse F, which serves mainly
Latin American and Caribbean airlines, had to wait outside.


Read more at Reuters.com Bonds News

No EADS cap hike needed now-German govt official

(Reuters) - "It has been agreed that Germany and France will discuss the
issue of the shareholer structure in the coming months," Hintze,
who is also a state secretary in the Economy Ministry, told
Reuters.




Read more at Reuters.com Bonds News

FTSE down as Lonmin weighs on miners; banks support

(Reuters) - Britain's leading shares reversed earlier gains on Monday as Lonmin dragged mining stocks into the red after cutting its full-year sales forecast but M&A activity boosted banks.

Lonmin, the world's third-biggest platinum producer, dipped 7 percent after it cut its full-year sales forecast, blaming difficulties in processing lower grade ores and bottlenecks at refineries. Citigroup also cut its price target to "hold" from "buy".


Read more at Reuters Africa

U.S. Stock-Index Futures Are Little Changed; Schwab Falls, Motorola Gains

(Bloomberg) -- U.S. stock-index futures were
little changed before companies including Charles Schwab Corp.,
the biggest discount brokerage, report earnings today.

Schwab fell in Germany, while toymaker Mattel shares
didn't trade in Europe after the company posted earnings that
met analysts' estimates. Motorola Inc. gained after Deutsche
Bank AG recommended buying shares of the world's No. 2 maker of
mobile phones. Ford Motor Co. also climbed. Newspapers
including the Sunday Times reported that the second-biggest
U.S. automaker may sell its profitable Volvo Car Corp.
business.


Read more at Bloomberg Stocks News

Rand Drops on View Recent Gains Already Reflect Interest-Rate Outlook

(Bloomberg) -- South Africa's rand fell against the
dollar, snapping a three-day gain, on speculation that recent
gains already reflect the outlook for higher interest rates.

The rand last week touched its highest in almost two weeks,
supported by investors seeking out South Africa's 9.5 percent
interest rate in trades funded by borrowing Japanese yen or Swiss
francs more cheaply. The Reserve Bank has increased borrowing
costs five times in the past year and is expected to continue
doing so to curb inflation.


Read more at Bloomberg Currencies News

Delek U.S. to buy minority stake in Lion Oil

(Reuters) - The transactions are expected to close in the third quarter
and are subject to regulatory and other approvals.




Privately held Lion Oil owns and operates a 75,000 barrel
per day, high conversion crude oil refinery in Arkansas, as well
as three crude oil pipelines and two refined petroleum products
terminals in Tennessee that supply some of Delek's 188
convenience stores in Tennessee.


Read more at Reuters.com Mergers News

Con-way to buy truckload carrier for $750 mln

(Reuters) - Con-way intends to fund the acquisition, expected to close
in the third quarter, with existing cash resources and proceeds
from debt financing, it added.





Read more at Reuters.com Mergers News

Kenyan shilling steady vs dollar, market quiet

(Reuters) - The Kenyan shilling held steady against the dollar on Monday in quiet trade, with dealers expecting range-bound trade in coming days.

At 1005 GMT, commercial banks traded the local currency at 66.75/85, the same level as at Friday's close.


Read more at Reuters Africa

Brazil's Votorantim Forms Investment Bank as Stock, Debt Sales Set Records

(Bloomberg) -- Banco Votorantim SA, the Brazilian
bank controlled by billionaire Antonio Ermirio de Moraes, is
opening an investment-banking unit to capitalize on record stock
and bond offerings in Latin America's biggest economy.

Votorantim, Brazil's 10th-biggest financial group, plans to
capture part of the underwriting boom by courting clients in the
sugar, biofuel and real estate industries, said Pedro Thomazoni
and Silvia Benvenuti, the executives overseeing the new division
for the Sao Paulo-based bank.


Read more at Bloomberg Emerging Markets News

KPMG sees M&A peak near, annual deal volume down

(Reuters) - It also found a discrepancy between deal values and volumes.




"The last time the market witnessed this kind of
'disconnect' -- where the average deal size rose, but the number
of deals fell -- occurred at the height of the dot-com boom in
2000," KPMG said.


Read more at Reuters.com Bonds News

Argentina, Brazil, Colombia, Mexico: Latin America Local Bond Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Latin American local bonds
today. Bond yields are from the previous session.

Argentina: The country's economic expansion won't be hurt
by natural gas shortages, Planning Minister Julio de Vido said
in Santa Cruz, Bolivia, on July 13. The current shortages are a
result of the country's high rates of economic growth, De Vido
said.


Read more at Bloomberg Bonds News

Renewable Energy Group files for $150 mln IPO

(Reuters) - The filing did not reveal how many shares the company
planned to sell or the expected price.




The company plans to apply for listing on The New York
Stock Exchange under the symbol "RWE."



Read more at Reuters.com Government Filings News

China's Gome in talks to buy cellphone retailers

(Reuters) - SHANGHAI, July 16 - Gome Electrical Appliances Holdings Ltd. , China's biggest electronics retailer, is in talks to buy domestic cellphone retail chains to expand market share, a company spokesman said on Monday.



"Gome is seeking to consolidate China's fragmented cellphone retailing business, using its financial strength," He Yangqing said.


Read more at Reuters.com Mergers News

Atlas Copco tops forecast with record Q2

(Reuters) - Atlas Copco said it expected demand in most of its customers
segments, such as mining, construction and the manufacturing and
process industries, to remain at the current high level over the
short term.




Read more at Reuters.com Market News

Singapore's Straits Times Slides From Record; Cosco Declines, Keppel Rises

(Bloomberg) -- Singapore's stocks fell, dragging the
Straits Times Index from a record high, on speculation recent
gains were excessive. Cosco Corp. Singapore Ltd., the benchmark's
best performer this month, led the drop.

Keppel Corp. and Neptune Orient Lines Ltd. climbed after
analysts raised their share-price forecasts.


Read more at Bloomberg Stocks News

Lonmin Shares Plunge After Company Defers Platinum Sales After Breakdown

(Bloomberg) -- Shares of Lonmin Plc fell the most
since at least 1999 after the platinum producer cut its sales
forecast following a breakdown at one of its plants that
prompted it to delay deliveries of the metal.

Sales of as much as 90,000 ounces of platinum, or about a
10th of its production, will be delayed until the next financial
year starting Oct. 1, the company said today in a statement.
Lonmin said in May it would process stockpiled ore to make up
the shortfall following the December furnace leak.


Read more at Bloomberg Emerging Markets News

U.K.'s FTSE 100 Is Little Changed; Barclays, Glaxo, BT Climb, Lonmin Drops

(Bloomberg) -- U.K. stocks including Barclays Plc
rose after Royal Bank of Scotland Plc sweetened its 71.1 billion
euro ($98.1 billion) offer for ABN Amro Holding NV.

Lonmin Plc limited gains after the mining company said it
will delay the sale of as much as 90,000 ounces of platinum.
Wolseley Plc slid after the company said pretax profit fell.


Read more at Bloomberg Stocks News

EU Carbon Emission Permits Fall Near Two-Month Low As Allocations Raised

(Bloomberg) -- European Union carbon dioxide permits
for 2008 fell near a two-month low after the European Commission
raised the allocation of emission allowances for Ireland and
Latvia in the five years through 2012, increasing supply.

The July 13 increase boosts the total number of permits
allocated by 1.08 million tons of carbon dioxide a year. Permits
for December 2008 fell 19 cents, or 1 percent, to 19.70 euros
($27.12) a ton at 10:19 a.m. local time on the European Climate
Exchange in Amsterdam.


Read more at Bloomberg Energy News

French Shares Including Air France, Cap Gemini Climb; Gaz de France Drops

(Bloomberg) -- French stocks including Air France-
KLM Group SA, Europe's largest airline, and Cap Gemini SA, the
region's biggest computer-services company, advanced. Gaz de
France SA paced declining shares.

The CAC 40 Index was little changed at 6117.24 at 10:52
a.m. in Paris, as 25 shares rose and 15 declined. The SBF 120
Index slipped 0.1 percent to 4457.89.


Read more at Bloomberg Stocks News

RBS-led group offers more cash in $98 bln ABN bid

(Reuters) - The offer is above a rival all-stock bid from Britain's Barclays that is worth about 64 billion euros, which has been recommended by ABN's board.




The revised bid pushed ABN shares higher, with the price up 3.5 percent at 37.12 euros by 0726 GMT.


Read more at Reuters.com Business News

European Stocks Advance, Led by ABN Amro, Barclays, BT Group, Glaxo

(Bloomberg) -- European stocks rose for a third day,
led by ABN Amro Holding NV after Royal Bank of Scotland Group Plc
sweetened its 71.1 billion-euro ($98.1 billion) offer for the
Dutch lender, seeking to trump Barclays Plc.

ABN Amro jumped the most in three months. Barclays also
climbed. BT Group Plc, the U.K.'s largest phone company, and
drugmaker GlaxoSmithKline Plc rose after brokerages lifted their
recommendations on the shares.


Read more at Bloomberg Stocks News

European Emission Permits Fall After Allocations Raised, Imports Curbed

(Bloomberg) -- European Union carbon dioxide permits
for 2008 fell near a two-month low after the European Commission
raised the allocation of emission permits for Ireland and Latvia in
the five years through 2012, increasing supply.

The commission, the regulatory arm of the EU, has ruled on the
requests for allocations of 22 out of the EU's 27 member nations.
It forced an average cut of 9.4 percent for a total of 1.898
billion metric tons a year, according to a statement on July 13.


Read more at Bloomberg Energy News

UPDATE 1-India's Reliance Comm buys Yipes for $300 million

(Reuters) - Yipes, a provider of managed ethernet and application
delivery services, offered Reliance an opportunity to tap a
fast-growing market, Chairman Anil Ambani told a news
conference.




"Yipes will accelerate Reliance's entry into the $90
billion global market for enterprise and institutional data
services," he said after announcing the all-cash deal.


Read more at Reuters.com Mergers News

Asia shares ease, oil eyes record high

(Reuters) - London's FTSE 100 Index and Germany's DAX rose about 0.2 percent in early trade while France's CAC 40 edged up nearly 0.1 percent.




Data on Friday showing improved U.S. consumer sentiment sparked optimism that shipments to Asia's top export market would stay strong, helping to limit regional stock losses and lending support to the dollar.


Read more at Reuters.com Business News

Bernanke, Central Bankers Get Heartburn From Rising Food-Commodity Prices

(Bloomberg) -- Rising prices for food, from yogurt
in the U.S. to steak in South Africa, are causing heartburn at
the world's most powerful central banks.

The fastest increase in food-commodity prices in at least a
decade has already led monetary authorities in England,
Mexico, Chile and South Africa to lift borrowing costs. It is
also sowing doubts about the U.S. Federal Reserve's focus on
core inflation, which excludes food and energy, and about
China's gradual approach to tightening credit.


Read more at Bloomberg Exclusive News

Corporate Bond Risk Declines in Europe, Credit-Default Swaps Prices Show

(Bloomberg) -- The risk of owning European
corporate bonds fell, according to traders of credit-default
swaps.

Contracts based on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies dropped 6,000 euros to 268,000 euros at 8:17 a.m. in
London, according to JPMorgan Chase & Co. The index rose as high
as 310,000 euros last week.


Read more at Bloomberg Bonds News

French Shares Including Renault, Alstom Advance; Unibail Paces Declines

(Bloomberg) -- French stocks including Renault SA,
the country's second-largest carmaker, and Alstom SA, the world's
third-biggest producer of power plants, increased.

Unibail, France's largest real-estate investment trust,
paced declining shares.


Read more at Bloomberg Stocks News

Rand steady, to hold positive tone

(Reuters) - South Africa's rand steadied versus the dollar on Monday, with traders expecting it to hold a positive tone while remaining prey to international developments.

The rand stood at 6.9680 versus the dollar at 0642 GMT, just off its New York close of 6.96 on Friday.


Read more at Reuters Africa

Australia Lifts Canola Crop Estimate on Good Conditions in Country's East

(Bloomberg) -- Australia, the world's third-largest
canola exporter, may produce 8.4 percent more of the oilseed
than forecast because of good growing conditions in the east of
the country.

The nation may reap 1.67 million metric tons of canola in
the 2007-08 harvest, the Sydney-based Australian Oilseeds
Federation said today in an e-mailed report. That compares with
its June forecast of 1.54 million tons and last year's crop of
512,000 tons.


Read more at Bloomberg Commodities News