(Bloomberg) -- Venezuelan President Hugo Chavez is likely to seek an orderly withdrawal from the International Monetary Fund that may avert triggering declines in bond prices, Barclays Capital Inc. said.
Chavez, who announced his intention to leave the IMF last week, is unlikely to attempt an ``imminent'' pullout, according to a report by Barclays economist Luisa Palacios in New York, distributed today by e-mail.
Read more at Bloomberg Emerging Markets News
Friday, May 11, 2007
Chrysler recalls 270,958 minivans in U.S.
(Reuters) - "Certain minivans are being recalled in states which use large amounts of salt for road de-icing to replace their up-front air bag sensors," the National Highway Traffic Safety Administration said on its Web site, http://www-odi.nhtsa.dot.gov/home.cfm.
"Sensors with brass bushings may corrode and crack allowing water to enter the sensor, causing it to fail, illuminating the air bag warning light," NHTSA said.
Read more at Reuters.com Bonds News
"Sensors with brass bushings may corrode and crack allowing water to enter the sensor, causing it to fail, illuminating the air bag warning light," NHTSA said.
Read more at Reuters.com Bonds News
UPDATE 1-ACE Aviation posts loss; pays special distribution
(Reuters) - CALGARY, Alberta, May 11 - Air Canada gain that pushed the company to a profit a year earlier.
ACE, a holding company, also said it would give a bigger slice of two subsidiaries to its investors.
Read more at Reuters.com Market News
ACE, a holding company, also said it would give a bigger slice of two subsidiaries to its investors.
Read more at Reuters.com Market News
Dell investors seen looking past probes to revamp
(Reuters) - Dell shares are up more than 8 percent since the company said on March 29 it was moving toward a conclusion of an internal accounting audit. The stock is now more richly valued than Hewlett-Packard Co. on the fundamentals of the business," said Brent Bracelin, an analyst at Pacific Crest Securities who has an "outperform" rating on Dell stock.
Read more at Reuters.com Business News
Read more at Reuters.com Business News
Bradley, Consolidated Water, Lyondell, THQ, Mamma.com: U.S. Equity Movers
(Bloomberg) -- The following is a list of companies whose shares are having unusual price changes in U.S. exchanges today. Stock symbols are in parentheses after company names. Share prices are as of 11:45 a.m. New York time.
Alcatel-Lucent (ALU US) American depositary receipts, each representing one share, rose 47 cents, or 3.6 percent, to $13.47 and traded as high as $13.58. The world's largest supplier of telecommunications equipment forecast a 10 percent increase in second-quarter sales from the first period. The stock was upgraded to ``outperform'' from ``neutral'' at Credit Suisse.
Read more at Bloomberg Stocks News
Alcatel-Lucent (ALU US) American depositary receipts, each representing one share, rose 47 cents, or 3.6 percent, to $13.47 and traded as high as $13.58. The world's largest supplier of telecommunications equipment forecast a 10 percent increase in second-quarter sales from the first period. The stock was upgraded to ``outperform'' from ``neutral'' at Credit Suisse.
Read more at Bloomberg Stocks News
S.Africa coal sales to UK to slip with green rules
(Reuters) - South African exports of coal to Britain, a major market, are set to slip a little as some UK power generators say they will reduce use of the country's coal from January 2008 to meet new nitrogen oxides emissions rules.
South Africa is the second largest supplier of imported coal to the UK, which in 2006 imported around 12 million tonnes of the fuel, mostly from producers Anglo Coal, Xstrata and BHP Billiton.
Read more at Reuters Africa
South Africa is the second largest supplier of imported coal to the UK, which in 2006 imported around 12 million tonnes of the fuel, mostly from producers Anglo Coal, Xstrata and BHP Billiton.
Read more at Reuters Africa
Integra LifeSciences to buy medical products maker for $4 mln
(Reuters) - Physician Industries President Brian Baker will join Integra, the company said in a statement.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
Freddie Mac to sell $5 bln bills on Monday
(Reuters) - -- $3.0 billion of three-month bills due Aug. 13, 2007 to be sold Monday and settle Tuesday; and
-- $2.0 billion of six-month bills due Nov. 13, 2007 to be sold Monday and settle Tuesday.
Read more at Reuters.com Bonds News
-- $2.0 billion of six-month bills due Nov. 13, 2007 to be sold Monday and settle Tuesday.
Read more at Reuters.com Bonds News
US Mar business stocks unexpectedly fall 0.1 pct
(Reuters) - Business inventories defied the 0.3 percent growth forecast by Wall Street analysts. Stocks on hand were originally reported at 0.4 percent in February.
Rising inventories can signal either growing business confidence about future demand or an unexpected sales drop that causes unsold stocks to pile up. Business inventories are also a component of gross domestic product.
Read more at Reuters.com Economic News
Rising inventories can signal either growing business confidence about future demand or an unexpected sales drop that causes unsold stocks to pile up. Business inventories are also a component of gross domestic product.
Read more at Reuters.com Economic News
Oil Is Steady Amid Concern U.S. Summer Gasoline Supplies May Be Disrupted
(Bloomberg) -- Crude oil was little changed amid concern that motor-fuel supplies may be disrupted this summer because of repairs at U.S. refineries and reduced oil output in Africa.
Repairs were announced yesterday at refineries in Texas and Delaware, curbing gasoline production. U.S. gasoline demand peaks during the summer driving season, which starts with the Memorial Day holiday at the end of this month. Total SA shut an oil field in the Republic of Congo after a fire yesterday. Nigerian output has been slashed over the past year because of militant attacks.
Read more at Bloomberg Energy News
Repairs were announced yesterday at refineries in Texas and Delaware, curbing gasoline production. U.S. gasoline demand peaks during the summer driving season, which starts with the Memorial Day holiday at the end of this month. Total SA shut an oil field in the Republic of Congo after a fire yesterday. Nigerian output has been slashed over the past year because of militant attacks.
Read more at Bloomberg Energy News
EADS Insider-Trading Probe Expands With Review of Taped Call on A380 Delay
(Bloomberg) -- An investigation of insider trading at European Aeronautics, Defence & Space Co. has come across a taped call regarding discussions of production delays for the Airbus A380 that took place three months before the setbacks were disclosed and EADS shares tumbled 26 percent.
Jean Galli Douani said he met with French financial police at their headquarters May 2 at the request of investigating judge Xaviere Simeoni. Douani, who unsuccessfully tried to buy Airbus planes, said he taped a phone call with an Airbus executive about the A380 discussions at the March 2006 meeting.
Read more at Bloomberg Exclusive News
Jean Galli Douani said he met with French financial police at their headquarters May 2 at the request of investigating judge Xaviere Simeoni. Douani, who unsuccessfully tried to buy Airbus planes, said he taped a phone call with an Airbus executive about the A380 discussions at the March 2006 meeting.
Read more at Bloomberg Exclusive News
Gold, Silver Prices Climb in New York After Euro Rebounds Against Dollar
(Bloomberg) -- Gold in New York rose from a one- month low as a gain in the value of the euro against the dollar boosted the appeal of the precious metal as an alternative investment. Silver also climbed.
Gold has moved in tandem with the euro about 71 percent of the time in the past year. The metal still headed for the biggest weekly drop since March as the dollar heads for a second consecutive weekly gain against the euro. Before this week, gold was up 8.1 percent this year, reaching an 11-month high on April 20, as the euro climbed to a record against the dollar.
Read more at Bloomberg Commodities News
Gold has moved in tandem with the euro about 71 percent of the time in the past year. The metal still headed for the biggest weekly drop since March as the dollar heads for a second consecutive weekly gain against the euro. Before this week, gold was up 8.1 percent this year, reaching an 11-month high on April 20, as the euro climbed to a record against the dollar.
Read more at Bloomberg Commodities News
`Chicken' Investors Buy Home Depot, Masco Shares Ahead of Housing Rebound
(Bloomberg) -- Investors who don't have the guts to buy housing stocks just yet are betting on a residential rebound before it happens -- by buying shares of home-improvement retailers and makers of tools and tape measures.
``It's our chicken way of playing the housing recovery,'' said Robert Hagstrom, manager of the $5 billion Legg Mason Growth Trust in Wayne, Pennsylvania. He bought Home Depot Inc. shares this year.
Read more at Bloomberg Stocks News
``It's our chicken way of playing the housing recovery,'' said Robert Hagstrom, manager of the $5 billion Legg Mason Growth Trust in Wayne, Pennsylvania. He bought Home Depot Inc. shares this year.
Read more at Bloomberg Stocks News
US RATE FUTURES-Higher on core PPI, retail data
(Reuters) - Retail sales for April fell below Wall Street expectations while core producer prices, stripped of food and energy, were unchanged versus a forecast increase of 0.2 percent.
Read more at Reuters.com Bonds News
Read more at Reuters.com Bonds News
Nickel Advances on LME, Erasing Earlier Losses; Copper Pares Its Decline
(Bloomberg) -- Nickel rose on the London Metal Exchange, erasing earlier losses.
Nickel for delivery in three months gained $300, or 0.6 percent, to $50,300 a metric ton as of 1:22 p.m. local time. Earlier, it fell as much as $550, or 1.1 percent, to $49,490.
Read more at Bloomberg Commodities News
Nickel for delivery in three months gained $300, or 0.6 percent, to $50,300 a metric ton as of 1:22 p.m. local time. Earlier, it fell as much as $550, or 1.1 percent, to $49,490.
Read more at Bloomberg Commodities News
GMAC, Oracle Lead Companies Selling $25.7 Billion of Bonds in the U.S.
(Bloomberg) -- GMAC LLC, the finance company partly owned by General Motors Corp., and software maker Oracle Corp. led companies selling $25.7 billion of bonds this week as the cost to borrow held at its lowest level since February.
Sales compared with $36.1 billion last week, according to data compiled by Bloomberg. Detroit-based GMAC sold $2 billion of notes in its first offering since December, while Oracle issued $2 billion of floating-rate notes.
Read more at Bloomberg Bonds News
Sales compared with $36.1 billion last week, according to data compiled by Bloomberg. Detroit-based GMAC sold $2 billion of notes in its first offering since December, while Oracle issued $2 billion of floating-rate notes.
Read more at Bloomberg Bonds News
UPDATE 1-Helen of Troy fourth-quarter earnings rise
(Reuters) - The company reported net income of $9.7 million, or 30 cents a share, compared with $6.6 million, or 21 cents a share, a year ago. Net sales rose 7 percent to $143.9 million.
Analysts on average expected earnings of 27 cents a share, excluding exceptional items, on revenue of $138.1 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Analysts on average expected earnings of 27 cents a share, excluding exceptional items, on revenue of $138.1 million, according to Reuters Estimates.
Read more at Reuters.com Market News
Germany's DAX Index Declines; TUI, Allianz and BMW Lead Retreat
(Bloomberg) -- German stocks slipped, led by TUI AG Allianz SE and Bayerische Motoren Werke AG.
The benchmark DAX Index lost 29.96, or 0.4 percent, to 7385.37 as of 9:13 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies also dropped 0.4 percent.
Read more at Bloomberg Stocks News
The benchmark DAX Index lost 29.96, or 0.4 percent, to 7385.37 as of 9:13 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies also dropped 0.4 percent.
Read more at Bloomberg Stocks News
Aquarius Platinum says court orders halt to strike
(Reuters) - A court has ordered that workers at two South African mines owned by Aquarius Platinum return to the job, the firm said on Friday.
"The court has granted an interdict, but it has not been served," spokeswoman Charmane Russell said, adding the firm was pursuing talks to resolve the situation before taking the legal route.
Read more at Reuters Africa
"The court has granted an interdict, but it has not been served," spokeswoman Charmane Russell said, adding the firm was pursuing talks to resolve the situation before taking the legal route.
Read more at Reuters Africa
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