Copper Futures Rise Most in a Week in New York on Strike by Mexico Workers

(Bloomberg) -- Copper futures in New York jumped
the most in more than a week after Southern Copper Corp. workers
went on strike at three mines in Mexico.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc mines, a
union spokeswoman said yesterday. Copper has gained 10 percent
since May 30 as labor unrest hampered production in Latin
American countries.


Read more at Bloomberg Commodities News

GM says UAW talks must address health care costs

(Reuters) - She added: "I think it's impossible to ignore the issue. I
guess we'll see how possible it is to address it."




Tremblay said about $3 billion of GM's annual health care
bill went to cover the cost of insuring its retirees and their
dependents.


Read more at Reuters.com Bonds News

Criminal probes often weigh on debt ratings - study

(Reuters) - The report by Moody's Investors Service looked at
the credit rating agency's actions regarding companies that
reached pretrial agreements with federal prosecutors
investigating allegations of wrongdoing.




These pacts, generally called deferred prosecution or
non-prosecution agreements, have become increasingly common as
companies in the government's crosshairs seek to avoid the fate
of accounting firm Arthur Andersen, which went out of business
following its indictment in 2002.


Read more at Reuters.com Bonds News

Owens to sell two facilities in Belgium and Norway

(Reuters) - Owens Corning also said it was in "active discussions" with
Saint-Gobain on the potential conversion of the proposed joint
venture into an outright acquisition by Owens Corning of the
French company's Vetrotex business.





Read more at Reuters.com Mergers 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

Xinhua Media eyes stake in online bookstore-sources

(Reuters) - Xinhua Media, controlled by state-owned Jiefang Daily Press
Group, one of China's biggest newspaper publishers, hopes to team
up with Beijing-based Dangdang.com to tap the domestic online
book market, said the sources, who declined to be identified.




Xinhua Media, which dominates distribution channels for books
and magazines in Shanghai, China's financial hub, went public on
the domestic A-share market through a back-door listing earlier
this year.


Read more at Reuters.com Mergers News

UPDATE 1-Bill Gates fund reports 12.8 pct PlanetOut stake

(Reuters) - The Microsoft Corp. chairman's fund did not reveal
when it bought the shares or their price in the "passive"
filing with the U.S. Securities and Exchange Commission.
Cascade also did not reveal the purposes behind the
transactions.




San Francisco, California-based PlanetOut, which went
public in 2004, maintains a number of Web sites serving the
lesbian, gay, bisexual and transgender community. The sites
include Gay.com, PlanetOut.com, OUT&ABOUT Travel, Advocate.com,
Out.com, OutTraveler.com and HIVPlusMag.com


Read more at Reuters.com Government Filings News

Soybeans May Rise in Chicago as U.S. Farmers Cut Plantings; Corn May Gain

(Bloomberg) -- Soybeans may rise to a three-year
high on the Chicago Board of Trade after U.S. farmers planted
the fewest acres in 12 years. Corn may climb as livestock and
dairy producers snap up the cheapest supplies since April.

Twenty of 25 traders, farm advisers and merchants surveyed
June 29 recommended buying soybeans, and 14 said to buy corn.
Soybeans for November delivery rose 6.1 percent last week to
$8.8175 a bushel, the eighth gain in nine weeks. December corn
tumbled 8.1 percent to $3.5075 a bushel, capping a two-week
decline of 16 percent, the largest such drop since July 1997.


Read more at Bloomberg Commodities News

Apple, DTE Energy, Lions Gate, Seaspan, Theravance: U.S. Equity Preview

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

Apple Inc. (AAPL US) shares rose as much as $1.62, or 1.3
percent, to $123.66 in extended trading. The U.S. debut of the
iPhone drew thousands of shoppers over the weekend, emptying most
of AT&T Inc.'s inventory and causing network glitches as the
flood of customers began activating the device. Shoppers snapped
up as many as 200,000 iPhones the first day after the device went
on sale June 29, according to Global Equities Research.


Read more at Bloomberg Stocks News

Bond prices rise on safe-haven flows, rate cut hopes

(Reuters) - Last week, problems at two Bear Stearns' hedge funds renewed worries about the spillover effect from the subprime mortgage sector's woes, prompting safe-haven bids, with nervous investors dumping stocks.




"The market went off very strong on Friday and this is just follow through short-covering from last week. There is very decent mortgage buying on the back of this short-covering, that is producing buyers of Treasuries," said Thomas di Galoma, head of U.S. Treasury trading at Jefferies & Co in New York.


Read more at Reuters.com Bonds News

Prices rise on safe-haven flows, rate cut hopes

(Reuters) - Last week, problems at two Bear Stearns' hedge funds renewed worries about the spillover effect from the subprime mortgage sector's woes, prompting safe-haven bids, with nervous investors dumping stocks.




"The market went off very strong on Friday and this is just follow through short-covering from last week. There is very decent mortgage buying on the back of this short-covering, that is producing buyers of Treasuries," said Thomas di Galoma, head of U.S. Treasury trading at Jefferies & Co in New York.


Read more at Reuters.com Hot Stocks 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

S. African Rand Headed for Weekly Gain on Outlook for Rates, Credit Rating

(Bloomberg) -- South Africa's rand headed for its
first weekly gain versus the dollar in six on speculation the
central bank will keep lifting interest rates and as concern
about the country's current account deficit wanes.

The rand is set to end its worst run in a year after Moody's
Investors Service said yesterday the country's credit rating may
be put on review for a possible upgrade in the next 18 to 24
months as concern on the current-account gap eases. The Reserve
Bank lifted its main rate to 9.5 percent on June 7, and Governor
Tito Mboweni forecast inflation will hold above the bank's target
in the second quarter.


Read more at Bloomberg Currencies News