Canadian Stocks Fall, Led by Biovail, as Drug Rejected; Energy Stocks Slip

(Bloomberg) -- Canada's main stock index fell from a
record, led by Biovail Corp., after regulators rejected the
drugmaker's application for approval of an antidepressant and U.S.
companies reported profits below analysts' estimates.

Google Inc., the Internet search engine owner, posted profit
excluding some items of $3.56 a share, a penny short of analyst
estimates in a Bloomberg survey. Caterpillar Inc., the world's
largest maker of earthmoving machines, said earnings dropped
because of falling demand for truck engines.


Read more at Bloomberg Stocks News

First Data says buyout is on track

(Reuters) - The buyout is on track to close in the third quarter, Chairman and Chief Executive Ric Duques said on a conference call.




First Data agreed in April to sell itself to Kohlberg Kravis Roberts & Co. for $34 a share, but difficult conditions in the debt markets have made investors increasingly skeptical about whether the deal will close on time at that price.


Read more at Reuters.com Market News

Canadian Stocks Decline, Led by Biovail; Royal, Bank of Nova Scotia Rise

(Bloomberg) -- Canadian stocks fell, led by Biovail
Corp. after regulators rejected the drugmaker's application for
approval of an antidepressant.

The S&P/TSX Composite Index dropped for the first time in four
days, falling 31.50, or 0.2 percent, to 14,594.26 in Toronto at
10:02 a.m. in Toronto.


Read more at Bloomberg Stocks News

Mexican Peso Declines After China Raises Interest Rates to Cool Expansion

(Bloomberg) -- Mexico's peso fell after China raised
interest rates, sparking speculation that demand for commodities
including oil, Mexico's biggest export, will fall.

Revenue from oil exports is Mexico's biggest source of
dollar inflows and funds almost 40 percent of government
spending. Oil for September delivery fell 0.1 percent to $76.01 a
barrel at 10:51 a.m. in New York.


Read more at Bloomberg Currencies News

Dollar declines on US subprime concerns

(Reuters) - The dollar slumped to a 12-year low on Friday on concerns the crisis in the U.S. subprime mortgage sector will have an impact on consumer spending and the wider economy.

The dollar index, which measures the greenback against a basket of currencies, fell to a 12-year low due to the ongoing fear surrounding the subprime market and pushed bond yields and stocks lower, traders and analysts said.


Read more at Reuters Africa

KKR's Banks Postpone Alliance Boots LBO Loans Until Next Week, Banker Says

(Bloomberg) -- Kohlberg Kravis Roberts & Co.'s
banks postponed a deadline to finance the buyout of Alliance
Boots Plc after failing to raise enough demand for the 9 billion
pounds ($18.5 billion) of loans, said a banker involved.

KKR and lenders led by Deutsche Bank AG started offering
the debt to investors three weeks ago and had asked them to
commit no later than today. The underwriting banks are now
giving potential investors until next week to join the loan with
the extra time designed to boost participation, said the banker
on the deal, who declined to be identified because the
discussions are private.


Read more at Bloomberg Bonds News

TREASURIES-Rocky credit markets spark bond-buying spree

(Reuters) - NEW YORK, July 20 - U.S. Treasury debt prices
jumped on Friday as ongoing credit worries and weaker stocks
allowed bond bulls to test six-week lows in benchmark yields.




A mix of hard data and anecdotal evidence have underpinned
a week-long rally. Federal Reserve Chairman Ben Bernanke's
testimony, which referred extensively to the problem in the
subprime mortgages sector, only added fuel.


Read more at Reuters.com Bonds News