Ingersoll-Rand profit higher, but stock slips

(Reuters) - NEW YORK, July 27 - Industrial conglomerate Ingersoll-Rand Co. Ltd. , in the midst of remaking its portfolio of businesses, reported higher quarterly profit on Friday, reflecting a large gain from discontinued operations.



The company also disclosed it received a notice from the U.S. Internal Revenue Service, proposing adjustments to its past tax filings, and said it would contest the proposed adjustments.


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European Stocks Drop, Led by Volvo, Randstad; Hermes International Falls

(Bloomberg) -- European stocks fell for a second day
after earnings and forecasts from Volvo AB, Randstad Holding NV
and Hermes International SCA triggered concern profit growth is
faltering.

Volvo, the world's second-largest truckmaker, dropped the most
in more than a year after reporting profit that missed analysts'
estimates. Randstad tumbled 16 percent after the world's third-
largest staffing company said it's ``cautious'' for the third
quarter. Hermes International SCA fell after saying annual profit
will stagnate.


Read more at Bloomberg Stocks News

UPDATE 4-Randstad's weaker outlook hits staffing firm shares

(Reuters) - AMSTERDAM, July 25 - Dutch staffing company
Randstad disappointed investors on Wednesday by
warning of slower growth in the third quarter, triggering steep
falls in its shares and those of its rivals.




Despite a double-digit rise in second-quarter profit in line
with forecasts, Randstad's third quarter earnings per share
forecast of 0.95 euros fell short of the average of 1.10 in a
Reuters poll of six analysts, sending its shares down to a
four-month low.


Read more at Reuters.com Market News

SABMiller S.African bond three times oversubscribed

(Reuters) - Brewer SABMiller's 1.6 billion rand local bond was launched on Thursday and was three times oversubscribed, Rand Merchant Bank (RMB) said.

SABMiller issued a 5-year bond to repay part of existing loans used to fund its South African business.


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DRDGOLD lifts resources by 150 pct at SAfrican mine

(Reuters) - South African gold miner DRDGOLD said on Tuesday it had seen a 150 percent increase in total resources at its East Rand Proprietary Mines Limited (ERPM) operation at Boksburg.

The increase, to 41.37 million ounces from 16.58 million ounces at 30 June 2006, the company said in a statement.


Read more at Reuters Africa