Australia Takeovers Panel blocks Qantas bid

(Reuters) - "The Panel has decided not to commence proceedings in relation to APA's application," it said in a statement.

APA, which includes Macquarie Bank Ltd. and private equity firm Texas Pacific Group, said in a statement it was seeking an "urgent review" of the decision.


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Berkshire shareholder's PetroChina proposal fails

(Reuters) - Less than 2 percent of votes were cast in favor of the proposal by Berkshire shareholder Judith Porter, which Buffett opposed. Berkshire ended 2006 with a 1.3 percent PetroChina stake, making it the company's largest foreign shareholder.

In a separate protest, two speakers allowed into the meeting called on a Berkshire utility unit to destroy two dams they say harm the environment.


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Regulators probe unusual Dow Jones trading

(Reuters) - A Dow Jones spokesman said the company received a subpoena from the attorney general and an inquiry from the U.S. Securities and Exchange Commission.

A spokesman for News Corp. said his company had received similar documents.


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Berkshire shareholder PetroChina proposal seen failing

(Reuters) - That excludes Buffett's own 33 percent voting stake, which Buffett said he used against the proposal.

The proposal by Judith Porter of Ardmore, Pennsylvania would prevent Berkshire from investing in foreign companies or subsidiaries that engage in activities that would be prohibited for U.S. companies by presidential order.


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EU criticises German plans for new coal power plants

(Reuters) - Germany is unwise to choose to build new brown coal power plants, which are the most harmful to the environment, European Union Environment Commissioner Stavros Dimas was quoted as saying on Saturday.

"In terms of greenhouse gases, brown coal is the most unfavourable choice," Dimas said in an interview with Bild am Sonntag newspaper.


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Gold rallies on weaker US jobs; copper at highs

(Reuters) - Gold prices hit a near 2-week high Friday after disappointing U.S. jobs data raised speculation of an interest rate cut that could weaken the dollar and boost demand for commodities.

Elsewhere in metals, copper saw contract highs in New York for a second straight day as physical demand for the industrial metal sapped stocks in exchange warehouses at a rate that worried investors. U.K. nickel prices hit a record.


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China 07 trade surplus growth seen slowing

(Reuters) - China's trade surplus will grow some 43 percent this year to $254 billion, a slower rate of growth than last year, the Xinhua agency reported citing a study by an official research institute.

The report, by the Chinese Academy of Sciences, predicted that exports would climb 23.7 percent this year while imports would rise 19.5 percent from a lower base.


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