Apple's IPhone, Must-Have for Technopiles, May Be Tougher Sell for Parents

(Bloomberg) -- Yahoo! Inc. Chief Executive Officer
Jerry Yang wants an iPhone. Salesforce.com CEO Marc Benioff
plans to trade in his Motorola Inc. Razr for one. Chuck Jones
not only doesn't want one, he also isn't about to spend $1,000
or more to get iPhones for his two daughters.

While technophiles clamor for Apple Inc.'s combination
mobile phone and music player, some regular consumers like Jones
are less enthusiastic. The iPhone is pricier than rivals, lacks
the keyboard used by text messagers and works only on an AT&T
Inc. network. Parents also may balk at the $200 penalty to
switch wireless carriers, no matter how much their kids beg.


Read more at Bloomberg Exclusive News

S.Africa May trade deficit narrows to 2.7 bln rand

(Reuters) - South Africa recorded a trade deficit of 2.67 billion rand in May, compared to April's 5.67 billion rand shortfall, the South African Revenue Service said on Friday.

Analysts polled by Reuters last week had forecast a deficit of 4.8 billion rand, but the data is notoriously volatile and difficult to predict.


Read more at Reuters Africa

US STOCKS-Futures fall as inflation data awaited

(Reuters) - NEW YORK, June 29 - U.S. stock index futures
declined on Friday before data on a key measure of inflation, a
day after the Federal Reserve reaffirmed that rising price
pressure was its top economic concern.




Shares of Research In Motion Ltd. rose before the
opening bell after the maker of the Blackberry reported results
that beat analysts' estimates and received brokerage upgrades.
For details, see [ID:nN29283948]. Research in Motion surged
20.2 percent to $199.


Read more at Reuters.com Bonds News

Commerce Bancorp CEO retires as probe ends

(Reuters) - Commerce said it is creating an office of the chairman for Commerce Bank, comprising Dennis DiFlorio as chairman, Robert Falese as president and chief executive, and Douglas Pauls as chief financial officer. DiFlorio was most recently the bank's president, overseeing retail banking, while Falese was president of commercial and investment banking.




The company did not in a press statement say who will replace Hill as chief executive of Commerce Bancorp. A spokesman was not immediately available for comment.


Read more at Reuters.com Business News

BBVA to Hire 240 Derivatives Bankers in Madrid, London, Mexico, Hong Kong

(Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA,
Spain's second-largest bank, is hiring 240 bankers worldwide
this year to boost its derivatives business.

BBVA recruited 151 of the bankers since January, including
Lorenzo Isla, 34, Barclays Capital's former head of structured
credit research in London, who will run credit derivatives in
Madrid. The Bilbao, Spain-based lender will add about 100 of the
new derivatives staff in Madrid and 115 in offices including
London, Frankfurt and Mexico City, said Ricardo Laiseca, head of
global markets. A team of 25 will start an equity derivatives
business in Hong Kong.


Read more at Bloomberg Emerging Markets News

CCS Income Trust to go private in C$3.5 bln bid

(Reuters) - CCS units last traded at C$37.89 on the Toronto Stock
Exchange, representing a 21-percent premium.




The investor group, headed by Werklund, includes, CAI
Capital Partners, Goldman Sachs Capital Partners, Kelso & Co.,
Vestar Capital Partners, British Columbia Investment Management
Corporation and O.S.S. Capital Management L.P.


Read more at Reuters.com Mergers News

Michigan County Leads Week's Municipal Borrowers With Sales at Record Pace

(Bloomberg) -- U.S. state and local governments
sold $11 billion of bonds this week, led by New York State's
Dormitory Authority and Michigan's Oakland County, helping to
put sales of tax-exempt bonds on pace to top 2005's record.

It was the third straight week that sales of new municipal
bonds exceeded the average of $7.7 billion so far this year,
according to data compiled by Bloomberg. A rise in bond yields
since last month is drawing buyers, even as governments seeking
to refinance debt or raise money for projects in case borrowing
costs rise further flood the market with offerings.


Read more at Bloomberg Bonds News