UPDATE 1-India's Pantaloon to add stores, sees group rev $2bln

(Reuters) - MUMBAI, Aug 6 - Pantaloon Retail India Ltd., the
country's top listed retailer, is launching small and large
stores and the group is exploring deals with foreign partners
to take on growing competition, its chief executive said on
Monday.




The group is looking at joint venture opportunities with
foreign firms in the business-to-business segment, similar to
the one it has with U.S. office supplies retailer Staples Inc.
, Kishore Biyani told Reuters.


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Edison to invest "well above" 4.5 bln euros by 2013

(Reuters) - "We forecast that investments over 2008-2013 will be well above the 4.5 billion euros of our previous business plan."




Quadrino said the investments would help Edison reduce its dependence from gas imports.


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Weyerhaeuser profit drops, but beats expectations

(Reuters) - NEW YORK, Aug 3 - Timber company Weyerhaeuser Co. reported a sharp drop in second-quarter earnings on Friday as prices fell at its real estate business and U.S. home builders' demand for wood products weakened.



Although the results beat Wall Street expectations, analysts noted that this resulted from lower corporate expenses, rather than the earnings in the company's main businesses.


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Citigroup CEO says not rattled by market woes: report

(Reuters) - He told the Times, "I think our performance is going to
last much longer than the market turbulence does."




Prince said that investors who used to snap up leveraged
loans with easy terms are now on the sidelines as the "market
shakes itself out and probably will for a period of time." But
he told the paper that the businesses that are borrowing the
money are doing fine.


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BAE Systems says completes Armor takeover

(Reuters) - "The acquisition expands the company's business in the United States and strengthens BAE Systems' position as one of the world's leading land systems businesses," BAE said in a statement to the London Stock Exchange.



BAE announced the transaction valued at $4.53 billion on May 7. Armor makes wheeled military vehicles and vehicle and individual armour systems.


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RPT-US Midwest business grows more slowly in July

(Reuters) - The National Association of Purchasing Management-Chicago
business barometer fell to 53.4 from 60.2 in June. Economists
had forecast the index at 58.0. A reading above 50 indicates
expansion.




The employment component of the index jumped to 61.6 from
52.7 last month. Prices paid rose to 73.1 from 68.1 and new
orders dropped to 53.4 from 65.7.


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CNA, Dow Jones, MC Shipping, RadioShack, Southwest Gas: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 1:10 p.m. in New York.

Some mortgage lenders fell after American Home Mortgage
Investment Corp. (AHM US) delayed its quarterly dividend and
raised doubts about whether it has enough cash to stay in
business. Shares of American Home were halted.


Read more at Bloomberg Stocks News

CNA, Ingersoll-Rand, RadioShack, ValueClick, Vivus: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 11:40 a.m. in New York.

Some mortgage lenders fell after American Home Mortgage
Investment Corp. (AHM US) delayed its quarterly dividend and
raised doubts about whether it has enough cash to stay in
business. Shares of American Home were halted.


Read more at Bloomberg Stocks News

Ingersoll to sell units for $4.9 bln to Doosan

(Reuters) - Doosan's shares jumped as much as 11 percent on the move, which the company said would nearly double its sales and make it the world's seventh largest construction equipment maker.




For Ingersoll, the deal will cut the diversified manufacturer's exposure to the highly cyclical division which has been hit by a downturn in U.S. home construction and help its shift toward climate control, industrial and security businesses.


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UPDATE 1-Doosan to buy Ingersoll units for $4.9 bln

(Reuters) - The biggest ever overseas acquisition by a South Korean
company will make Doosan one of the world's top seven
construction equipment makers, the South Korean firm said.




Ingersoll signed a definitive agreement to sell Bobcat, the
world's top compact construction equipment firm, and its utility
equipment and attachment businesses, which in 2006 together
generated $2.6 billion in sales and $370 million in operating
profits.


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India's Reliance Q1 net up 28% on refining margins

(Reuters) - "While our existing businesses continue to deliver a robust
operating performance, our new initiatives provide us a platform
to deliver superior shareholder returns in the future," Chairman
Mukesh Ambani said in a statement.




Reliance's 660,000 barrel per day refinery in western India
and sales of gas produced from its deep-sea fields off the east
coast are expected to drive the company's future earnings
growth.


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UPDATE 2-Brazil's Vivo bids for two smaller rivals

(Reuters) - Brazilian business daily Gazeta Mercantil reported on
Friday that Vivo had agreed to buy Telemig and Amazonia for
about 3.5 billion reais . Telemig denied it had
been sold.




An acquisition of Telemig would give Vivo a much-coveted
foothold in Minas Gerais, the only state where it does not have
coverage.


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Ford shares up on forecasts for faster turnaround

(Reuters) - Johnson is now forecasting a narrower 2007 loss for Ford of 62 cents per share from his earlier estimate of a loss of $1.77. He expects Ford to lose 23 cents a share in 2008.




Ford on Thursday posted a profit of $750 million, its first in two years, on improved auto business and cost-cutting in its troubled U.S. operations.


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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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US economy, exports driven by global growth-Paulson

(Reuters) - "Now I believe what we're seeing is a strong global
economy. This is the strongest global economy I've seen in 32
years. The growth rate in Europe has doubled. We've got growth
throughout Asia. Japan is now growing, so I think this is being
driven by strong growth outside of the U.S."




The Commerce Department said earlier that U.S. economic
growth rebounded to 3.4 percent during the second quarter, its
strongest pace since the beginning of last year on a surge in
business investment, increased government spending and improved
trade performance. The data marked a big turnaround from anemic
0.6 percent growth in the first quarter, a figure previously
reported as 0.7 percent.


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TREASURIES-Bonds rally on stock slide, credit woes

(Reuters) - Bonds could get an additional lift if the durable goods
data at 8:30 a.m. shows signs of weakness in
business investment. Investors were also awaiting new home
sales data at 10 a.m. amid concerns that the housing
market is a drag on the U.S. economy.




But for now, with weak stocks and news of firms having
difficulty obtaining financing for buyout activity, Treasuries
were seeing a strong bid.


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June newspaper help-wanted ads dip to 49-yr low

(Reuters) - "There are signs that job advertising volume is edging a little lower, with very slight decreases in each of the past two months," said Ken Goldstein, labor economist at the Conference Board, in a statement.




"Business caution about near-term prospects for the economy, and perhaps for their own businesses, may lead to a little less hiring this autumn. Plus, the online business is mature enough in that this is where help wanted ads originate and may never appear in newspapers."


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TREASURIES-Bonds surge as credit fears sweep through markets

(Reuters) - NEW YORK, July 26 - U.S. Treasuries rallied on
Thursday, pushing benchmark yields to two-month lows, as weak
economic data and fears of a global credit crunch sent
investors scurrying out of stocks and other risky assets.




A sharp fall in new-home sales and an unexpected slide in
business investment data spurred an already strong Treasury
market, as overall durable goods orders rose less than expected
in June. For details see [ID:nN26366824].


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European Bonds Rally, Pushing Benchmark Yield to Its Lowest in Two Months

(Bloomberg) -- European government bonds rallied,
pushing 10-year yields to the lowest in more than two months, as
stocks slumped and the risk of holding corporate debt soared.

Benchmark bunds rose for a third day on rising concern about
loan defaults and as investors balked at funding takeovers.
Traders also scaled back bets that the European Central Bank will
push interest rates higher as a report showed business confidence
in Germany weakened for a second month.


Read more at Bloomberg Bonds News

UPDATE 1-Ashland net climbs on motor oil business' strength

(Reuters) - However, the company warned that fiscal 2007 results from
its performance materials business would reflect continued
weakness in the North American automotive, marine and
residential housing markets.




Net income in the third quarter ended on June 30 increased
to $100 million, or $1.58 a share, from $93 million, or $1.29 a
share, a year earlier.


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