(Bloomberg) -- Platinum rose in Asian trading for a first day in seven after the world's second-biggest producer said the metal may climb to a record should a third platinum-backed investment fund be introduced.
Impala Platinum Holdings Ltd. yesterday said it had been approached by a European bank regarding plans to establish an exchange-traded fund for the precious metal. Derek Engelbrecht, the Johannesburg-based company's marketing director, declined to identify the bank.
Read more at Bloomberg Commodities News
Monday, April 30, 2007
IMF Plans to Push Rich Nations on Promises of Aid to Africa, Portugal Says
(Bloomberg) -- The International Monetary Fund will put pressure on rich countries to keep promises of increasing aid to poor nations by monitoring them more closely, Deputy Managing Director Murilo Portugal said.
The Washington-based lender will use the annual Article IV country reports it compiles as ``surveillance,'' getting developed nations to account for their aid commitments, Portugal told Tanzanian businessmen in the capital Dar es Salaam yesterday.
Read more at Bloomberg Emerging Markets News
The Washington-based lender will use the annual Article IV country reports it compiles as ``surveillance,'' getting developed nations to account for their aid commitments, Portugal told Tanzanian businessmen in the capital Dar es Salaam yesterday.
Read more at Bloomberg Emerging Markets News
Islamic Bond Fatwas Surge on Million-Dollar Scholars for Newest Issues
(Bloomberg) -- Sheikh Nizam Yaquby is the gatekeeper to the $1 trillion market for managing Muslim wealth.
Yaquby, who lives in Bahrain, says he's on advisory boards of 40 finance companies, and tells Citigroup Inc., American International Group Inc. and HSBC Holdings Plc which insurance policies, accounts and bonds they can sell to devout Muslims.
Read more at Bloomberg Currencies News
Yaquby, who lives in Bahrain, says he's on advisory boards of 40 finance companies, and tells Citigroup Inc., American International Group Inc. and HSBC Holdings Plc which insurance policies, accounts and bonds they can sell to devout Muslims.
Read more at Bloomberg Currencies News
Sallie Mae Buyout May Founder on Democrats' Plans to Cut Lender Subsidies
(Bloomberg) -- The fate of the proposed $25 billion buyout of Sallie Mae, the largest U.S. provider of student loans, rests in part on a debate among Democrats over an obscure point of congressional procedure.
The agreement last month between Reston, Virginia-based SLM Corp. and a group of investors led by the private-equity firm J.C. Flowers & Co. allows the buyers to withdraw if Congress cuts federal subsidies for lenders by more than the $16 billion requested by President George W. Bush in his February budget. Democrats are considering plans to do just that as they search for revenue for proposals such as lower-interest student loans.
Read more at Bloomberg Bonds News
The agreement last month between Reston, Virginia-based SLM Corp. and a group of investors led by the private-equity firm J.C. Flowers & Co. allows the buyers to withdraw if Congress cuts federal subsidies for lenders by more than the $16 billion requested by President George W. Bush in his February budget. Democrats are considering plans to do just that as they search for revenue for proposals such as lower-interest student loans.
Read more at Bloomberg Bonds News
BCE, Com Dev, Mosaid, Telus, WestJet Airlines: Canadian Equity Preview
(Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets. This preview includes news that broke after markets closed. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor's/TSX Composite Index fell 215.33, or 1.6 percent, to 13,416.68 in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index fell 215.33, or 1.6 percent, to 13,416.68 in Toronto.
Read more at Bloomberg Stocks News
South Korea's Exports Increase Faster-Than-Expected 17.8 Percent in April
(Bloomberg) -- South Korea's exports rose at a faster-than-expected pace in April, adding to signs growth in Asia's third-largest economy may accelerate.
Exports jumped 17.8 percent from a year ago, the largest gain in three months, after advancing 13.6 percent in March, the Ministry of Commerce, Industry and Energy said today in Gwacheon, South Korea. That beat the 16.5 percent median estimate in a Bloomberg News survey of 11 economists.
Read more at Bloomberg Emerging Markets News
Exports jumped 17.8 percent from a year ago, the largest gain in three months, after advancing 13.6 percent in March, the Ministry of Commerce, Industry and Energy said today in Gwacheon, South Korea. That beat the 16.5 percent median estimate in a Bloomberg News survey of 11 economists.
Read more at Bloomberg Emerging Markets News
Tokyo Grain Exchange's Commodity Futures Prices for Soybean, Corn, Sugar
(Bloomberg) -- Following are agricultural commodity futures traded on the Tokyo Grain Exchange in Japan. The price updates are as of 11:00 a.m. Tokyo time.
Corn for May 2008 delivery traded at 26,930 yen a metric ton, or $225.30, down 140 yen, or 0.52 percent.
Read more at Bloomberg Commodities News
Corn for May 2008 delivery traded at 26,930 yen a metric ton, or $225.30, down 140 yen, or 0.52 percent.
Read more at Bloomberg Commodities News
Australia's S&P/ASX 200 Is Little Changed; Santos Jumps, Aristocrat Drops
(Bloomberg) -- Australian stocks were little changed. Santos Ltd. jumped after the company said a state government will review its 15 percent limit on individual shareholdings in the company, potentially opening it to a takeover bid.
Aristocrat Leisure Ltd. slumped after the company forecast first-half profit growth below market expectations.
Read more at Bloomberg Stocks News
Aristocrat Leisure Ltd. slumped after the company forecast first-half profit growth below market expectations.
Read more at Bloomberg Stocks News
Japanese Stocks Decline, Led by Sony, on Slower U.S. Consumer Spending
(Bloomberg) -- Japanese stocks declined, led by companies that rely on U.S. sales including Sony Corp. and Honda Motor Co., after consumer spending slowed in Japan's biggest overseas market.
Sumitomo Mitsui Financial Group Inc. paced banks lower after saying its annual profit fell more than initially forecast.
Read more at Bloomberg Stocks News
Sumitomo Mitsui Financial Group Inc. paced banks lower after saying its annual profit fell more than initially forecast.
Read more at Bloomberg Stocks News
Australia's S&P/ASX 200 Index Is Little Changed; BHP Falls, Santos Jumps
(Bloomberg) -- Australia's S&P/ASX 200 Index rose 3.2 points to 6169.20 as of 10:12 a.m. in Sydney. BHP Billiton Ltd. declined, while Santos Ltd. jumped.
To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net
Read more at Bloomberg Stocks News
To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net
Read more at Bloomberg Stocks News
Indian Rupee Option Volatility May Decline on Central Bank Currency Sales
(Bloomberg) -- Indian rupee options volatility may fall from a four-year high on speculation the central bank will keep selling its currency.
The Reserve Bank of India last week said it increased the amount of bonds it can issue to soak up the rupees it sells in the foreign-exchange market. That measure may allow the bank to boost sales of rupees, dousing speculation it will slow the pace of its currency intervention.
Read more at Bloomberg Currencies News
The Reserve Bank of India last week said it increased the amount of bonds it can issue to soak up the rupees it sells in the foreign-exchange market. That measure may allow the bank to boost sales of rupees, dousing speculation it will slow the pace of its currency intervention.
Read more at Bloomberg Currencies News
Manitowoc first-quarter profit soars
(Reuters) - Analysts on average expected earnings of 88 cents a share, before exceptional items, according to Reuters Estimates.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
FHLB launches $3 bln 10-yr bonds, pricing Tuesday
(Reuters) - The joint lead managers on the sale are Deutsche Bank, Goldman Sachs and Lehman Brothers.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
UPDATE 1-Omni Energy Services exploring alternatives, shares up
(Reuters) - Shares of the Carencro, Louisiana-based company were up more than 5 percent at $9.78 in afternoon trade on the Nasdaq. They had risen almost 10 percent after the announcement.
While the stock may have risen on expectation of a possible sale, it can not be ruled out that the company itself might be evaluating a larger acquisition on its own, Thompson Davis & Co. analyst Jeremy Hellman said in an e-mail to Reuters.
Read more at Reuters.com Mergers News
While the stock may have risen on expectation of a possible sale, it can not be ruled out that the company itself might be evaluating a larger acquisition on its own, Thompson Davis & Co. analyst Jeremy Hellman said in an e-mail to Reuters.
Read more at Reuters.com Mergers News
Doral in private equity talks
(Reuters) - Doral said in a regulatory filing that if the contemplated transaction is consummated, its capital and liquidity needs will be satisfied but existing shareholders will face "very significant dilution."
The news was the latest blow to investors in Doral's stock, which has collapsed over the past two years amid charges that former senior management engaged in fraud.
Read more at Reuters.com Bonds News
The news was the latest blow to investors in Doral's stock, which has collapsed over the past two years amid charges that former senior management engaged in fraud.
Read more at Reuters.com Bonds News
US STOCKS-Blue chips rise, Dow sets another record
(Reuters) - NEW YORK, April 30 - The Dow Jones industrial average rose to a record for the fourth straight session on Monday on optimism about corporate profits and easing inflation concerns.
With the market already set for its best monthly performance in more than three years, some investors opted to lock in profits, keeping both the S&P and the Nasdaq little changed.
Read more at Reuters.com Bonds News
With the market already set for its best monthly performance in more than three years, some investors opted to lock in profits, keeping both the S&P and the Nasdaq little changed.
Read more at Reuters.com Bonds News
Alberto-Culver, Alltel, BE Aerospace, Doral, Ormat: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges. Stock symbols are in parentheses after company names. Share prices are as of 11:40 a.m. New York time.
Alberto-Culver Co. (ACV US) added $1.22, or 5.2 percent, to $24.57 and traded as high as $24.89. The maker of Alberto VO5 and Tresemme shampoos said second-quarter profit from continuing operations, excluding some items, was 23 cents a share. That beat the 20-cent average analyst estimate compiled by Bloomberg.
Read more at Bloomberg Stocks News
Alberto-Culver Co. (ACV US) added $1.22, or 5.2 percent, to $24.57 and traded as high as $24.89. The maker of Alberto VO5 and Tresemme shampoos said second-quarter profit from continuing operations, excluding some items, was 23 cents a share. That beat the 20-cent average analyst estimate compiled by Bloomberg.
Read more at Bloomberg Stocks News
Corn Falls as Dry Weather May Speed U.S. Midwest Planting; Soybeans Rise
(Bloomberg) -- Corn futures in Chicago fell to a one-week low on speculation drier weather in the U.S. Midwest will accelerate planting. Soybeans rose as prospects dwindled that farmers will switch more acres to the oilseed.
Mostly dry, warm weather until May 6 will improve conditions for farmers who plan to plant the most corn acres since 1944, Meteorlogix LLC said. Sun and temperatures as much as 15 degrees Fahrenheit above normal in the past three days dried fields that got as much four times the normal amount of rain this month, impeding heavy machinery from sowing seeds.
Read more at Bloomberg Commodities News
Mostly dry, warm weather until May 6 will improve conditions for farmers who plan to plant the most corn acres since 1944, Meteorlogix LLC said. Sun and temperatures as much as 15 degrees Fahrenheit above normal in the past three days dried fields that got as much four times the normal amount of rain this month, impeding heavy machinery from sowing seeds.
Read more at Bloomberg Commodities News
TREASURIES-Bonds climb on sign of slowing inflation
(Reuters) - NEW YORK, April 30 - U.S. Treasury debt prices climbed on Monday after data showed inflation may be slowing to near the Federal Reserve's presumed target range, while month-end positioning added some support.
The inflation reading boosted investor expectations the Federal Reserve could shift later this year to lowering interest rates from fighting price pressures, which pushed up bond prices.
Read more at Reuters.com Bonds News
The inflation reading boosted investor expectations the Federal Reserve could shift later this year to lowering interest rates from fighting price pressures, which pushed up bond prices.
Read more at Reuters.com Bonds News
March incomes up but core prices steady
(Reuters) - Analysts polled by Reuters had expected personal income to rise 0.5 percent. February's income gain was revised up to 0.7 percent.
Bonds rallied on news of muted price pressures that raised the possibility the Federal Reserve may be better positioned to lower benchmark interest rates to spur a sluggish economy.
Read more at Reuters.com Business News
Bonds rallied on news of muted price pressures that raised the possibility the Federal Reserve may be better positioned to lower benchmark interest rates to spur a sluggish economy.
Read more at Reuters.com Business News
Fannie Mae to sell $5 bln bills on Wednesday
(Reuters) - Bids will be accepted from authorized dealers from 9:00 a.m. , until 9:45 a.m. .
Settlement is May 2-3.
Read more at Reuters.com Bonds News
Settlement is May 2-3.
Read more at Reuters.com Bonds News
Canada's S&P/TSX Declines, Led by Energy Shares, Suncor; Banks Decline
(Bloomberg) -- Canadian stocks fell, led by oil and gas producers including Suncor Energy Inc., as the price of crude oil dropped.
The Standard & Poor's/TSX Composite Index fell 57.06, or 0.4 percent, to 13,574.95 as of 9:43 a.m. in Toronto.
Read more at Bloomberg Stocks News
The Standard & Poor's/TSX Composite Index fell 57.06, or 0.4 percent, to 13,574.95 as of 9:43 a.m. in Toronto.
Read more at Bloomberg Stocks News
TEXT-Moody's release on Chilean banks, JDA methodology
(Reuters) - BFSRs evaluate the stand-alone or intrinsic financial strength of banks without reference to external support factors. BFSRs are the starting point of Moody's bank credit analysis, and are an important determinant of Moody's bank deposit and debt ratings.
Moody's then uses its JDA methodology to incorporate the potential for external support into a bank's local currency deposit rating. The potential for external support can reduce the riskiness of a bank's deposit and debt obligations; however, such support is often uncertain. Moody's uses conservative support assumptions and a limited number of support levels to ensure that sufficient weight is given to a bank's intrinsic financial strength in its bank deposit and debt ratings.
Read more at Reuters.com Bonds News
Moody's then uses its JDA methodology to incorporate the potential for external support into a bank's local currency deposit rating. The potential for external support can reduce the riskiness of a bank's deposit and debt obligations; however, such support is often uncertain. Moody's uses conservative support assumptions and a limited number of support levels to ensure that sufficient weight is given to a bank's intrinsic financial strength in its bank deposit and debt ratings.
Read more at Reuters.com Bonds News
U.S. vacation home sales hit record in 2006
(Reuters) - But investment-home sales plummeted, down 28.9 percent to 1.65 million in 2006 from a record 2.32 million in 2005.
In contrast, primary residence sales fell 4.1 percent to 4.82 million in 2006 from 5.02 million in 2005.
Read more at Reuters.com Bonds News
In contrast, primary residence sales fell 4.1 percent to 4.82 million in 2006 from 5.02 million in 2005.
Read more at Reuters.com Bonds News
Rand recoups losses against dollar
(Reuters) - South Africa's rand regained ground against the dollar on Monday, reversing earlier losses of around 1.7 percent triggered by political uncertainty in fellow emerging market Turkey.
The rand was at 7.0425 to the dollar at around 1420 GMT, little changed from its previous New York close of 7.04, after strengthening to a session high as 7.0340/dollar slightly earlier.
Read more at Reuters Africa
The rand was at 7.0425 to the dollar at around 1420 GMT, little changed from its previous New York close of 7.04, after strengthening to a session high as 7.0340/dollar slightly earlier.
Read more at Reuters Africa
UPDATE 1-Brazil March primary budget surplus falls sharply
(Reuters) - The result was lower than the 9 billion reais median estimate of 14 economists in a Reuters poll. The estimates ranged from 6 billion reais to 13 billion reais.
Brazil posted posted a primary budget surplus of 6.68 billion reais in February this year.
Read more at Reuters.com Economic News
Brazil posted posted a primary budget surplus of 6.68 billion reais in February this year.
Read more at Reuters.com Economic News
Wall St indexes open flat after runup
(Reuters) - March inflation data was reassuring, showing core personal consumption expenditures surprisingly unchanged.
Investors were also cheered by stronger-than-expected profits from companies such as RadioShack Corp. and news of a takeover of New York-based International Securities Exchange.
Read more at Reuters.com Business News
Investors were also cheered by stronger-than-expected profits from companies such as RadioShack Corp. and news of a takeover of New York-based International Securities Exchange.
Read more at Reuters.com Business News
CNA Financial posts higher first-quarter earnings
(Reuters) - CNA, which is mostly owned by New York conglomerate Loews Corp. ) Keywords: CNAFINANCIAL RESULTS/
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Loews profit up on insurance, tobacco
(Reuters) - Profit attributable to Loews shareholders rose to $650.7 million, or $1.20 per share, from $473.4 million, or 85 cents.
Excluding investment gains and losses, profit totaled about $1.07 per share. Analysts on average expected profit of 95 cents per share, according to Reuters Estimates. Revenue rose 10 percent to $4.66 billion.
Read more at Reuters.com Market News
Excluding investment gains and losses, profit totaled about $1.07 per share. Analysts on average expected profit of 95 cents per share, according to Reuters Estimates. Revenue rose 10 percent to $4.66 billion.
Read more at Reuters.com Market News
Verizon qtly profit falls, subscribers grow
(Reuters) - NEW YORK, April 30 - Verizon Communications on Monday reported a fall in first-quarter profit due to discontinued operations, although profit from continuing operations rose in line with expectations amid strong wireless and Internet growth.
Quarterly profit fell to $1.5 billion, or 51 cents a share, from $1.6 billion or 56 cents a share a year earlier. The year-ago figures included a directories business that it has since spun off and assets in the Dominican Republic and Puerto Rico that it has since sold.
Read more at Reuters.com Market News
Quarterly profit fell to $1.5 billion, or 51 cents a share, from $1.6 billion or 56 cents a share a year earlier. The year-ago figures included a directories business that it has since spun off and assets in the Dominican Republic and Puerto Rico that it has since sold.
Read more at Reuters.com Market News
Sterling Financial to restate results after probe
(Reuters) - Although management has not determined the extent of the impact of these irregularities, they are expected to be material for the years 2006, 2005, and 2004 and may also be material for prior years, the company said in a regulatory filing.
It expects to restate earnings for those periods and said it may need to raise additional capital.
Read more at Reuters.com Government Filings News
It expects to restate earnings for those periods and said it may need to raise additional capital.
Read more at Reuters.com Government Filings News
CORRECTED - TREASURIES-Bond prices rise ahead of inflation data
(Reuters) - Still, bond yields stayed within a recent range as the market awaited U.S. Personal Consumption Expenditure data for March for signs of inflation that exceed the Federal Reserve's comfort zone of 1 to 2 percent annually. The data, due at 8:30 a.m. _, is commanding special attention because of a higher-than-expected inflation reading included in Friday's report on first-quarter gross domestic product.
The Fed has repeatedly emphasized that inflation is one of its highest priorities when considering monetary policy.
Read more at Reuters.com Bonds News
The Fed has repeatedly emphasized that inflation is one of its highest priorities when considering monetary policy.
Read more at Reuters.com Bonds News
Sysco quarterly profit rises
(Reuters) - Analysts were expecting the company to earn 36 cents a share, excluding items, according to Reuters Estimates.
Net sales for the quarter were up 5.3 percent at $8.57 billion, slightly missing analysts' estimate of $8.8 billion.
Read more at Reuters.com Business News
Net sales for the quarter were up 5.3 percent at $8.57 billion, slightly missing analysts' estimate of $8.8 billion.
Read more at Reuters.com Business News
Loews profit rises
(Reuters) - Profit attributable to Loews shareholders rose to $650.7 million, or $1.20 per share, from $473.4 million, or 85 cents.
Excluding investment gains and losses, profit totaled about $1.07 per share. Analysts on average expected profit of 95 cents per share, according to Reuters Estimates. Revenue rose 10 percent to $4.66 billion.
Read more at Reuters.com Business News
Excluding investment gains and losses, profit totaled about $1.07 per share. Analysts on average expected profit of 95 cents per share, according to Reuters Estimates. Revenue rose 10 percent to $4.66 billion.
Read more at Reuters.com Business News
Liberia Senate approves $1 bln Mittal iron deal
(Reuters) - Liberia's Senate has approved a $1 billion iron ore mining deal signed with the world's largest steel producer, Arcelor Mittal, opening the way for the start of the project, the government said on Monday.
Liberia's upper house of parliament approved the project in a special session late on Friday and the formal ratification was announced on Monday by Information Minister Lawrence Bropleh. The lower house endorsed the project last week.
Read more at Reuters Africa
Liberia's upper house of parliament approved the project in a special session late on Friday and the formal ratification was announced on Monday by Information Minister Lawrence Bropleh. The lower house endorsed the project last week.
Read more at Reuters Africa
Canadian Stocks May Gain on Economic Growth; Sun Life, CIBC May Advance
(Bloomberg) -- Canadian stocks may gain after a report showed that the nation's economy expanded at a faster-than- expected rate, allaying concern that profits may decline as growth falters in the U.S., Canada's biggest export market.
Financial shares, seen as a proxy for the broader market may rise, led by Sun Life Financial Inc., which is scheduled to report first-quarter earnings tomorrow.
Read more at Bloomberg Stocks News
Financial shares, seen as a proxy for the broader market may rise, led by Sun Life Financial Inc., which is scheduled to report first-quarter earnings tomorrow.
Read more at Bloomberg Stocks News
Crude Oil Falls on Signs of Reduced Demand After U.S. Refiners Shut Units
(Bloomberg) -- Crude oil fell on speculation that demand will declined because U.S. refiners unexpectedly shut units over the weekend.
Exxon Mobil Corp., Citgo Petroleum Corp. and Gary-Williams Energy Co. cut output at refineries in Texas and Oklahoma since April 27. U.S. refiners are finishing maintenance and starting to maximize gasoline output as they prepare for the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September.
Read more at Bloomberg Commodities News
Exxon Mobil Corp., Citgo Petroleum Corp. and Gary-Williams Energy Co. cut output at refineries in Texas and Oklahoma since April 27. U.S. refiners are finishing maintenance and starting to maximize gasoline output as they prepare for the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September.
Read more at Bloomberg Commodities News
Wall St heads for flat opening; data on tap
(Reuters) - Stocks will also receive direction from a slew of data on personal income and consumption, the Federal Reserve's preferred inflation gauge, at 8:30 a.m. and the National Association of Purchasing Management-Chicago will report on Midwest business conditions at 9:45 a.m. .
"Investors are worried about how far the indexes have come and the fact that the general economic news is not that positive," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
Read more at Reuters.com Hot Stocks News
"Investors are worried about how far the indexes have come and the fact that the general economic news is not that positive," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.
Read more at Reuters.com Hot Stocks News
Chairman was joking about Telefonica shares-Pirelli
(Reuters) - MILAN, April 30 - Pirelli in our core sectors. We have big projects ... and with what's left over, I will buy Telefonica shares," Marco Tronchetti Provera told La Stampa newspaper in an interview published on Monday.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
FTSE up ahead of data, oils and C&W support
(Reuters) - The FTSE 100 index Britain's leading shares edged up 0.35 percent on Monday as a subdued start to the week's trading weighed slightly but oil stocks and break-up talk on telecoms group Cable & Wireless buoyed the market.
Shares in Cable & Wireless added 4.5 percent in early trade after weekend media reports that it is considering a break-up of its telecommunications company via separate sales of its British and international businesses to private equity groups or foreign rivals. Cable & Wireless was not immediately available for comment.
Read more at Reuters Africa
Shares in Cable & Wireless added 4.5 percent in early trade after weekend media reports that it is considering a break-up of its telecommunications company via separate sales of its British and international businesses to private equity groups or foreign rivals. Cable & Wireless was not immediately available for comment.
Read more at Reuters Africa
Cemex plans euro perpetual debentures -lead
(Reuters) - It is secured by a first-priority claim on dual-currency notes and extinguishable coupon swaps guaranteed by Cemex SAB de CV, New Sunward Holding BV and Cemex Mexico SA de CV. Barclays Capital and JP Morgan are managing the sale. A roadshow will be held on Tuesday and Wednesday, the official said.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Peru Copper, Zinc Miners Begin National Strike, May Disrupt Metals Output
(Bloomberg) -- Miners in Peru began their first national strike in three years and threatened to disrupt global supplies of metals such as copper, zinc and gold after weekend talks with the government failed.
Workers at two of Southern Copper Corp. mines and zinc producer Volcan Cia. Minera SA began the strike at 1 a.m. New York time today, Mining Federation Secretary General Luis Castillo said in a phone interview from Lima. Some 70 unions including those at Newmont Mining Corp.'s Yanacocha gold mine and Doe Run Resources Corp.'s La Oroya poly-metallic smelter may follow, the union said.
Read more at Bloomberg Emerging Markets News
Workers at two of Southern Copper Corp. mines and zinc producer Volcan Cia. Minera SA began the strike at 1 a.m. New York time today, Mining Federation Secretary General Luis Castillo said in a phone interview from Lima. Some 70 unions including those at Newmont Mining Corp.'s Yanacocha gold mine and Doe Run Resources Corp.'s La Oroya poly-metallic smelter may follow, the union said.
Read more at Bloomberg Emerging Markets News
Treasuries Rise on Speculation Inflation Will Slow Enough to Lower Rates
(Bloomberg) -- U.S. Treasuries rose on speculation inflation may slow enough in coming months to enable the Federal Reserve to cut interest rates.
Economists at Goldman Sachs Group Inc., Merrill Lynch & Co., and UBS AG say the worst U.S. housing slump in a decade may drive the economy into a recession and stifle consumer prices. The world's biggest economy expanded at an annual rate of 1.3 percent last quarter, the Commerce Department said April 27, slower than what economists expected.
Read more at Bloomberg Bonds News
Economists at Goldman Sachs Group Inc., Merrill Lynch & Co., and UBS AG say the worst U.S. housing slump in a decade may drive the economy into a recession and stifle consumer prices. The world's biggest economy expanded at an annual rate of 1.3 percent last quarter, the Commerce Department said April 27, slower than what economists expected.
Read more at Bloomberg Bonds News
European stocks steady, Telecom Italia gains
(Reuters) - European stocks were flat in early trade on Monday, led by gains in Telecom Italia, but concerns about U.S. growth persisted in the broader market.
Shares of Telecom Italia and Pirelli both rose 1 percent after Pirelli sold control of Italy's largest phone group to a group of Italian investors and Telefonica. Telefonica rose 1 percent.
Read more at Reuters Africa
Shares of Telecom Italia and Pirelli both rose 1 percent after Pirelli sold control of Italy's largest phone group to a group of Italian investors and Telefonica. Telefonica rose 1 percent.
Read more at Reuters Africa
Carrefour shareholders vote on boardroom deal
(Reuters) - The two groups staged a share raid on Carrefour in March, sparking speculation they would try to force Carrefour to sell off its real estate assets, which they believe to be worth as much as twice the 15 billion euros value given by management.
At the same time, Carrefour went through upheaval over the sacking of its chairman following a rift with the Halley family.
Read more at Reuters.com Mergers News
At the same time, Carrefour went through upheaval over the sacking of its chairman following a rift with the Halley family.
Read more at Reuters.com Mergers News
Kookmin Bank Q1 net at record on LG Card share sale
(Reuters) - Kookmin, which has almost one of every two South Koreans as a customer, earned 1.18 trillion won in the quarter ended March, versus 803.0 billion won a year earlier and 214.0 billion in the last quarter of 2006.
The result slightly topped an average forecast of a 1.07 trillion won profit from 10 analysts surveyed by Reuters and marked its biggest quarterly profit since earning 923.9 billion won in the third quarter of 2005.
Read more at Reuters.com Market News
The result slightly topped an average forecast of a 1.07 trillion won profit from 10 analysts surveyed by Reuters and marked its biggest quarterly profit since earning 923.9 billion won in the third quarter of 2005.
Read more at Reuters.com Market News
Eni to Buy Dominion's Gulf of Mexico Exploration Assets for $4.8 Billion
(Bloomberg) -- Eni SpA, Europe's fourth-largest oil company, agreed to buy Dominion Resources Inc.'s exploration and production assets in the Gulf of Mexico for $4.8 billion to increase output.
The purchase will boost Eni's production in the Gulf to 110,000 barrels of oil equivalent a day by the second half of 2007, from 36,000 barrels a day currently, the Rome-based company said today in a statement distributed by the Italian Stock Exchange.
Read more at Bloomberg Energy News
The purchase will boost Eni's production in the Gulf to 110,000 barrels of oil equivalent a day by the second half of 2007, from 36,000 barrels a day currently, the Rome-based company said today in a statement distributed by the Italian Stock Exchange.
Read more at Bloomberg Energy News
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