US RATE FUTURES-Hold at lower levels on GDP, claims

(Reuters) - The Commerce Department said first-quarter U.S. GDP growth
was 0.7 percent, annualized, up from 0.6 percent reported
earlier but below Wall Street's consensus forecast of 0.8
percent. Jobless claims fell modestly.




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Inverness Medical gets FDA nod for malaria test device

(Reuters) - The drug maker said Januvia is the first and only medication in the class of drugs called dipeptidyl peptidase-4 inhibitors, which enhance the body's ability to lower blood sugar when it is elevated, to be adopted by the European Commission.






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Bond prices steady; await final GDP, FOMC

(Reuters) - Investors were also awaiting the final readings of first quarter gross domestic product and underlying price data before taking any positions in the market, analysts said.




"The highlight of the day is the FOMC statement," said Matthew Moore, economic strategist at Banc of America Securities in New York.


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Russia's Mechel 2006 net profit rises 58 pct

(Reuters) - Earnings before interest, taxation, depreciation and
amortisation were $1.068 billion, up from $726 million.




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Unhappy Dillard's shareholder seeks talks

(Reuters) - New York-based Barington said it has "substantial
experience helping improve shareholder value" as an investor in
other retail, apparel and footwear companies, including Maxwell
Shoe, Nautica, Payless ShoeSource, Pep Boys, Steven Madden,
Stride Ride, Syms and Warnaco.




Dillard's shares closed Wednesday at $33.93.



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Kenya unveils Novozymes deal, warns bio-pirates

(Reuters) - Kenya unveiled a biotechnology research agreement with the world's top industrial enzymes maker Novozymes on Thursday and vowed to tackle bio-pirates it accuses of plundering its rich natural resources.

Enzymes developed from rare microbes in the east African nation's Rift Valley soda lakes are a key ingredient of products ranging from detergent to animal feed and are also used for bleaching faded denim jeans.


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PHH posts 1st-qtr profit

(Reuters) - Revenue rose 8.6 percent to $596 million.




In a regulatory filing, the company said revenue at its
mortgage servicing and fleet management services segments rose
$42 million and $22 million respectively, partially offset by a
$17 million decrease at its mortgage production segment.


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