European Government Bonds Post Weekly Gain on Subprime Mortgage Concerns

(Bloomberg) -- European government bonds posted
their biggest weekly gain in more than four months after concern
about the U.S. subprime mortgage sector crimped demand for
riskier assets.

Government debt advanced after Moody's Investors Service
lowered ratings on $5.2 billion of bonds backed by U.S. subprime
mortgages and Standard & Poor's said it may cut credit ratings on
$7.4 billion of similar debt. Bunds extended their rally
yesterday after a U.S. report showed retail sales fell more than
expected last month, stoking concern about an economic slowdown.


Read more at Bloomberg Bonds News

S&P 500 hits record

(Reuters) - The Standard & Poor's 500's milestone came a day after a market rally in which the Dow industrials racked up their biggest one-day point-gain in more than four years. The S&P 500 also capped its best two weeks in 11 months.




The Dow crossed 13,900 for the first time and hit a lifetime high for a second straight day as GE roughly doubled its 2007 share buyback to $14 billion, in a week that saw several major companies announcing multibillion-dollar share repurchase plans.


Read more at Reuters.com Business News

Black found guilty of criminal fraud

(Reuters) - Black was allowed to remain free on a $21 million bond pending a July 19 hearing on whether bond should be continued. His lawyers said he would appeal, and sentencing was set for November 30. Black surrendered his passport in court.




He left the courthouse without comment but his lawyer, Edward Greenspan, read a brief statement saying Black had been acquitted of the "central charges" in the case and there were "viable legal issues" on which to appeal.


Read more at Reuters.com Business News

Japan's Bond Futures Advance After Downgrades of U.S. Subprime-Backed Debt

(Bloomberg) -- Japan's 10-year bond futures rose in
the past week after downgrades of debt backed by U.S. subprime
mortgages sparked demand for the safety of government securities.

Bond futures on July 11 had the biggest gain since August
after Moody's Investors Service cut ratings on $5.2 billion of
debt backed by loans to homeowners with poor credit histories.
Concern economic growth in the U.S., Japan's largest export
market, will slow helped bond futures rebound from the steepest
weekly drop since last month.


Read more at Bloomberg Bonds News

Boston Scientific settles Guidant suits for $195 million

(Reuters) - That court has been overseeing the product-liability lawsuits against the company, whose Guidant unit allegedly continued to sell heart rhythm-management devices after learning of possible defects.




Guidant recalled more than 100,000 of the products between 2005 and 2006.


Read more at Reuters.com Business News

Wall St Week Ahead: Robust earnings to keep stocks charged

(Reuters) - Rising energy and food prices coupled with uneven retail
sales are not likely to slow down investors as they test the
market's limits. At the same time, the financial sector is
expected to avoid major losses from the subprime sector.




After a week where the Dow Jones industrial average and
Standard & Poor's 500 index reached record highs on mergers
and acquisitions activity and multibillion-dollar blue-chip
buyback plans, investors will eye profits, inflation data and
the Federal Reserve for signs of further good news.


Read more at Reuters.com Economic News

Blackstone partners may avoid tax on IPO gains

(Reuters) - The company expects these benefits to total $863.7 million over 15 years, the filing said.




The Times said Blackstone partners would get back about $200 million more than the $553 million they paid in tax. The paper did not explain how it arrived at those figures.


Read more at Reuters.com Mergers News