Areva Wins $1.3 Billion 20-Year Uranium-Enrichment Contract in South Korea

(Bloomberg) -- Areva SA, the world's largest maker
of nuclear plants, said it won a long-term uranium-enrichment
contract with Korea Hydro & Nuclear Power Co. valued at more than
1 billion euros ($1.34 billion).

The agreement will enable KHNP to ``secure its nuclear fuel
supply at a competitive price'' and Areva to ``develop stable and
long term partnerships with major utilities,'' Paris-based Areva
said in an e-mailed statement.


Read more at Bloomberg Energy News

U.S. Stocks Retreat on Drop in Housing Starts; Lennar, Best Buy Decline

(Bloomberg) -- U.S. stocks fell a second day after
housing starts dropped in May, stoking concern the real-estate
slump will continue to weigh on economic growth.

NVR Inc., Centex Corp. and Hovnanian Enterprise Inc. led
declines in homebuilders. Best Buy Co., the biggest consumer
electronics chain, slid after reporting earnings that trailed
analyst estimates.


Read more at Bloomberg Stocks News

Treasuries Rise a Third Day as Housing Starts Decline to a Four-Month Low

(Bloomberg) -- U.S. Treasuries rose for a third
straight day after a government report showed home construction
slowed to a four-month low in May.

The consecutive declines in yields on benchmark 10-year
notes is the longest streak in two months. Yields on the
securities had touched the highest in five-years last week as
investors pared expectations for the Federal Reserve to reduce
interest rates this year.


Read more at Bloomberg Bonds News

Safran says strong euro hurting European aerospace

(Reuters) - PARIS, June 19 - The euro's strength against the dollar is hurting the European aerospace industry, the chief executive of French aerospace and electronics group Safran said on Tuesday.



The weakening of the dollar is "a real problem ... a serious problem", Jean-Francois Bechat told French radio BFM from the Paris air show.


Read more at Reuters.com Mergers News

European Stocks Drop, Led by Tesco, Carrefour; Ryanair Falls on Forecast

(Bloomberg) -- European stocks fell after Tesco Plc,
the U.K.'s largest supermarket operator, predicted a ``tougher
year'' because of higher interest rates and increased
competition. Marks & Spencer Plc and Carrefour SA declined.

Ryanair Holdings Plc led airlines lower after Europe's largest
low-cost carrier forecast a ``big downturn'' for the industry.
Invensys Plc gained after Citigroup Inc. recommended buying the
stock on prospects for higher profitability. Thales SA rose the
most in three months after the defense company was shortlisted for
a $2.7 billion contract from the U.S. Navy.


Read more at Bloomberg Stocks News

U.S. Stock-Index Futures Fall on Housing Data; Best Buy, Lennar Retreat

(Bloomberg) -- U.S. stock-index futures fell after
housing starts dropped in May, stoking concern the real-estate
slump will continue to weigh on economic growth.

Lennar Corp., the largest U.S. homebuilder, declined. Best
Buy Co., the biggest consumer electronics chain, slid after
reporting earnings that trailed analyst estimates.


Read more at Bloomberg Stocks News

Best Buy post disappointing profit

(Reuters) - Best Buy reported net income of $192 million, or 39 cents a share for its fiscal first quarter that ended June 2, from $234 million, or 47 cents per share, a year earlier.




Analysts, on average, had been expecting it to earn 50 cents per share, according to Reuters Estimates.


Read more at Reuters.com Business News