German Lawmakers Approve First Auctions of Carbon Dioxide Emission Permits

(Bloomberg) -- German lawmakers approved auctions
of carbon-dioxide emission permits, shrugging off complaints
from industry and utilities that the measure will send power
costs soaring.

Chancellor Angela Merkel's coalition helped vote through a
law today allowing the sale of almost 10 percent of carbon-
dioxide permits. RWE AG, Germany's second-biggest utility, has
said it may need to spend an extra 410 million euros ($554
million) a year to buy certificates.


Read more at Bloomberg Energy News

Gazprom Chairman Calls BP Meeting in Kremlin to Discuss Kovykta Gas Field

(Bloomberg) -- OAO Gazprom Chairman Dmitry Medvedev
will hold a meeting in the Kremlin today with executives from BP
Plc, whose license to a Siberian field with more natural gas
than Canada is being threatened by the government.

Medvedev, who is also a first deputy prime minister, will
chair a meeting regarding BP, a Kremlin spokeswoman said by
phone, declining to elaborate.


Read more at Bloomberg Energy News

U.S. Stock-Index Futures Drop; Bear Stearns, Merrill Shares Fall in Europe

(Bloomberg) -- U.S. stock-index futures fell on
concern hedge-fund losses at Bear Stearns Cos. may worsen the
fallout from the subprime lending market.

Shares of Bear Stearns, the second-biggest U.S. underwriter
of mortgage bonds, dropped in Europe. The company plans to take
on $3.2 billion of loans to stave off a crisis involving one of
its money-losing hedge funds, people with knowledge of the
proposal said.


Read more at Bloomberg Stocks News

BHP lifts force majeure on Newcastle coal exports

(Reuters) - BHP Billiton Ltd. on Friday lifted its force majeure on coal exports from Australia's Newcastle port, while rail shipments to the port should return to normal by Monday.

The move should ease supply fears among Asian electricity producers, after storm-related disruptions at the port had seen a cargo of Newcastle-origin thermal coal trade at a record high of $67 a tonne on Friday.


Read more at Reuters Africa

Deutsche Bank Hires ABN Amro's Debt Syndication Head in Asia, People Say

(Bloomberg) -- Deutsche Bank AG hired Herman van den
Wall Bake from ABN Amro Holding NV as the German bank increases
its market share in Asia, according to two people with knowledge
of the matter.

The former head of Asian debt syndication at ABN Amro will
join the region's leading bond underwriter as a director, the
people said, asking not to be named before a company announcement.
Singapore-based van den Wall Bake, 37, will report to Mark Leahy,
Deutsche Bank's head of Asian debt syndication.


Read more at Bloomberg Bonds News

Crude Oil Falls Amid Speculation Nigerian Strike Won't Disrupt Its Exports

(Bloomberg) -- Crude oil fell as some analysts and
traders speculated a strike in Nigeria would fail to affect exports
from Africa's largest producer.

Oil workers left Nigeria's export terminals yesterday as part
of a general strike protesting an increase in domestic fuel prices
and taxes. Oil traders and analysts doubt the strike has further
disrupted supplies from Nigeria. About a third of the nation's
output was already halted by political and criminal violence.


Read more at Bloomberg Commodities News

Electricite de France Shares Rise for Third Day on Outlook for Power Rates

(Bloomberg) -- Shares in Electricite de France SA,
Europe's biggest power generator, rose for a third day on
speculation the state-controlled utility may benefit from higher
power rates and demand for nuclear plants.

Shares of EDF, whose 58 nuclear plants generate almost half
of Europe's nuclear power, rose as much as 2.83 euros, or 3.7
percent, and were trading up 2.3 percent to 78.40 euros at 10:45
a.m. in Paris. The stock has gained 10 percent in three days,
making EDF France's biggest company by value ahead of Total SA.


Read more at Bloomberg Stocks News