China Fails to Appease American Lawmakers With Looser Grip on Yuan's Rise

(Bloomberg) -- China's pledge to allow greater
fluctuation in its currency's exchange rate failed to appease U.S.
lawmakers, who said they will push ahead with punitive
legislation unless the yuan appreciates at a faster pace.

``We need more than signs, what's necessary is action,''
Democratic Representative Sander Levin of Michigan, who chairs
the trade panel of the House Ways and Means Committee, said in an
interview yesterday. ``I don't think the announcement will change
the course of action in the Congress.''


Read more at Bloomberg Emerging Markets News

Treasury Yields Rise to Three-Month High on Rate Outlook, Chinese Currency

(Bloomberg) -- Treasuries fell amid eroding
confidence the Federal Reserve will cut its key rate this year
and on concern China's move to allow its currency to appreciate
will reduce its accumulation of dollar-denominated assets.

Ten-year yields rose to a three-month high as an unexpected
boost in a gauge of consumer confidence and a rally in U.S.
stocks challenged the view that record gasoline prices and a
housing slump will cause an economic slowdown. Surveys of bond
investors showing they have added to their holdings may indicate
they have little appetite to buy more.


Read more at Bloomberg Bonds News

Bank of America sued for race discrimination

(Reuters) - The 29-page complaint, filed Thursday with the U.S. District Court in Boston, contends that the bank discriminates against African-Americans in pay, promotions, training and support services.




It said the Charlotte, North Carolina-based bank regularly teams African-American workers together and assigns them to largely minority neighborhoods and low net-worth clients.


Read more at Reuters.com Business News

Bayer, EnerNOC, 99 Cents Only, Focus Media, Sepracor: 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.
Shares prices are as of 1:10 p.m. New York time.

AQuantive Inc. (AQNT US) rose $27.85, or 78 percent, to
$63.72 and traded as high as $63.90. Microsoft Corp. (MSFT US)
agreed to buy the owner of the largest independent online-
advertising agency for about $6 billion to expand its online
advertising services. AQuantive shareholders will receive $66.50
in cash, Microsoft said in a statement, almost double the
company's last closing share price.


Read more at Bloomberg Stocks News

U.S. Urges Chinese Policy Makers to Use Wider Band to Let the Yuan Gain

(Bloomberg) -- The U.S. Treasury urged Chinese policy
makers to use the wider trading band for their currency to allow
the yuan to rise faster.

``This is a useful step towards greater flexibility and an
eventual float of the currency,'' Alan Holmer, the Treasury's top
China official, told reporters in Washington. ``It's important
now that Chinese authorities use the wider band and allow greater
currency movement within each day and over time.''


Read more at Bloomberg Currencies News

US home prices seen high, may prolong slump-survey

(Reuters) - The negative consumer view on home prices could drag out
the current U.S. housing slowdown, already exacerbated by the
subprime mortgage crisis. But Curtin noted there were many
people who found the discounted homes appealing, which could
temper the market's decline.




"This growing resistance to the current level of price
discounts on homes will act to prolong but not deepen the slump
in home sales," he said in a statement.


Read more at Reuters.com Economic News

PPG expects decision on two units by end-summer

(Reuters) - The company would consider linking up with a partner,
including a private equity firm, in a joint venture, but only
with PPG holding a minority stake, he said.




Bunch also said he did not expect an upturn in the U.S.
housing markets until 2008, and said the coatings industry may
see a larger acquisition in the future rather than the small to
mid-sized buys that have occurred in recent years.


Read more at Reuters.com Mergers News

Cerberus to Raise $57 billion in Debt for Chrysler Purchase, Zetsche Says

(Bloomberg) -- Cerberus Capital Management LP plans
to raise about $57 billion of debt as part of its buyout of
Chrysler, according to DaimlerChrysler AG Chief Executive
Officer Dieter Zetsche.

Chrysler's finance unit will take on about $45 billion in
debt through high-yield bonds or asset-backed securities, and
its manufacturing division will borrow another $12 billion,
Zetsche said in an interview today in Stuttgart, Germany.


Read more at Bloomberg Bonds News

US STOCKS-Indexes rise on deals, consumer sentiment

(Reuters) - NEW YORK, May 18 - U.S. stocks rose on Friday,
sending the Dow to a record and putting the S&P 500 on course
for its 7th straight week of gains, as a flurry of takeovers
boosted demand for equities.




A report showed consumer sentiment rose more than expected
in May despite rising gasoline prices, which reassured
investors about the economy's strength and supported the
market.


Read more at Reuters.com Bonds News

UPDATE 1-Medicare to cut payback on Sepracor drug-analyst

(Reuters) - "It was expected that a ruling was coming, but I didn't
expect them to cut it to the price of a generic," said LeCroy.




While Medicare did not specify the size of the price cut,
only placing it in the same code as a generic drug called
albuterol, LeCroy said he expected the drop to be as much as 70
to 80 percent and affect about 15 percent of Xopenex sales.


Read more at Reuters.com Government Filings News

Microsoft to buy Web ad firm aQuantive

(Reuters) - In the biggest acquisition ever made by the world's No. 1 software maker, Microsoft said it would pay aQuantive shareholders $66.50 a share, a hefty premium to the company's closing share price of $35.87 on Thursday.




Shares of aQuantive shot to $63.95 in morning Nasdaq trade while Microsoft fell 1.1 percent to $30.64.


Read more at Reuters.com Bonds News

CalPERS says supports new Clear Channel bid

(Reuters) - A CalPERS spokesman said Friday it would support a higher
bid of $39.20 from the buyout firms and was evaluating whether
to take an option of owning shares in the company following the
buyout.




CalPERS said it owns 3.1 million shares of Clear Channel.


Read more at Reuters.com Bonds News

TriMas jumps 13 pct in market debut

(Reuters) - The company makes engineered products for commercial, industrial and consumer uses.




Read more at Reuters.com Hot Stocks News

Treasuries Decline on Fed Interest Rate Outlook, China's Currency Decision

(Bloomberg) -- Treasuries fell amid eroding
confidence the Federal Reserve will cut its key rate this year,
and on concern China's move to allow its currency to appreciate
will reduce its accumulation of dollar-denominated assets.

An unexpected boost in a gauge of consumer confidence at a
time when U.S. stock benchmarks are at multiyear highs
challenged the view that record gasoline prices and a housing
slump will cause an economic slowdown. Surveys of bond investors
showing they have added to their holdings in the past month may
indicate they have little appetite to buy more, traders said.


Read more at Bloomberg Bonds News

US junk bond funds report inflow in latest week-AMG

(Reuters) - Junk bond funds have attracted about $4 billion in net
inflows year to date, up from $2.7 billion for all of last
year, as strong investment returns attracted investors.




Counting interest and price changes, junk bonds have
returned 4.59 percent year to date, more than double the
returns on other U.S. fixed-income assets, according to Merrill
Lynch data. Treasuries have returned 1.53 percent and
investment-grade corporate bonds have returned 1.89 percent.


Read more at Reuters.com Bonds News

U.S. consumer sentiment improves in early May: U.Mich

(Reuters) - The median forecast on the overall sentiment reading among 65 analysts polled by Reuters was 86.5.




The survey's gauge of current consumer conditions was 103.8 in early May, down from a final April reading of 104.6, but its preliminary May measure on consumer expectations was 79.0, up from 75.9.


Read more at Reuters.com Business News

Harmony Gold closes out 230,000 oz Australia hedge

(Reuters) - South Africa's Harmony Gold paid A$75.8 million to close out the remainder of its Australian hedge book totalling 230,000 ounces, the firm said on Friday.

The hedge had an average forward price of A$517.78 per ounce and it was closed out at A$809 per ounce, a statement said.


Read more at Reuters Africa

Trade powers hold "productive" talks on WTO round

(Reuters) - Four world trade powers said on Friday that talks on how to reach a global free trade deal had been "productive" and that they would meet again next month to push for a breakthrough.

"Our meetings were productive and included discussions on all the core negotiating areas," ministers from the United States, the European Union, Brazil and India said in a joint statement.


Read more at Reuters Africa

Radio One to sell Ohio, Kentucky radio stations

(Reuters) - Main Line Broadcasting is a portfolio company of Washington DC-based private equity fund Arlington Capital Partners.







Read more at Reuters.com Mergers News

S.Africa maize ticks higher on rand, Chicago

(Reuters) - South African maize prices ticked higher on Friday in step with the U.S. market and a weaker rand but the overall tone still appeared bearish, traders said.

July white maize futures closed 1.33 percent up at 1,680 rand a tonne after bouncing back and forth over the past week.


Read more at Reuters Africa

BCE, CanWest, Nortel Networks, Northstar, Shaw: Canadian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in Canadian markets
today. This preview includes news that broke after markets closed
yesterday. Symbols are in parentheses after company names and
prices are from the last close.

The Standard & Poor's/TSX Composite Index rose 75.68, or 0.5
percent, to a record 14,100.71, yesterday in Toronto. The
Canadian stock benchmark has gained 0.7 percent this week so far,
and is headed for a sixth weekly gain since the end of March.


Read more at Bloomberg Stocks News

General Electric, Priceline.com, Trump, Verizon: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Shares prices are as of 7:30 a.m. New York time.

Autodesk Inc. (ADSK US): The maker of software for
architects and designers predicted revenue of as much as $2.15
billion this year. That topped the average estimate of $2.10
billion from analysts surveyed by Bloomberg. The shares declined
50 cents to $43.30 in regular trading yesterday.


Read more at Bloomberg Stocks News

UPDATE 1-Price boost lifts Rothmans profits

(Reuters) - Rothmans, which makes Craven A and Benson & Hedges brand
cigarettes, said it earned C$18 million , or 27
Canadian cents a share, in the period ended March 31. That is
up from a profit of C$16.4 million, or 24 Canadian cents a
share, in the same period last year.




Two analysts polled by Reuters Estimates expected a profit
of 25 Canadian cents a share, on average.


Read more at Reuters.com Market News

Sugar Heads for Longest Winning Streak in Seven Months in London Trading

(Bloomberg) -- White sugar headed for a third weekly
gain, the longest winning streak in seven months, underpinned by
a shortage of refining capacity and a surge in freight rates.

The European Union, the world's second-biggest exporter of
processed sugar behind Brazil, is cutting exports to comply with
a World Trade Organization ruling. That may leave a shortfall
until new refining capacity can be added elsewhere. Benchmark
freight rates have advanced 49 percent this year, further
limiting supplies.


Read more at Bloomberg Commodities News

FTSE near 7-yr high as oils and Cadburys gain

(Reuters) - Britain's leading share index rose to its highest level since September 2000 on Friday after oil stocks gained on consolidation talk and the world's largest confectionary maker Cadbury Schweppes rose on news of interest in its U.S. drinks business.

At 1039 GMT, the FTSE 100 was 41.1 points, or 0.6 percent higher at 6,620.4, to extend earlier gains.


Read more at Reuters Africa

U.K. Natural Gas For This Weekend Falls on Forecast of Warmer Temperature

(Bloomberg) -- U.K. natural-gas prices for delivery
this weekend fell as warmer-than-normal temperatures may curb
demand for the fuel to heat homes.

Gas for weekend delivery at the National Balancing Point, the
U.K. trading hub, declined 3.1 percent to 23.5 pence a therm at
11:30 a.m. in London, according to broker ICAP Plc. That's equal to
$4.64 per million British thermal units. A therm is 100,000 Btus.


Read more at Bloomberg Energy News

Legrand Shares Advance on Speculation ABB May Offer to Buy the Switchmaker

(Bloomberg) -- Shares of Legrand SA, the world's
biggest maker of switches and plugs for homes and offices, rose
as much as 9 percent on speculation ABB Ltd. of Switzerland may
make a takeover bid for the company.

The stock climbed 2.35 euros to 28.4 euros and was trading
at 27.94 euros as of 10.54 a.m. in Paris for a market value of
7.54 billion euros ($10.17 billion).


Read more at Bloomberg Stocks News

Copper Heads for Largest Weekly Drop in 3 Months in London. Zinc Falls

(Bloomberg) -- Copper headed for the largest weekly decline in three months on speculation there will be an oversupply of the metal used in wires. Nickel and zinc gained.

Inventories of copper monitored by the Shanghai Futures Exchange rose 17 percent this week to a three-year high, according to exchange data. China is the largest copper- consuming nation. Copper futures in Shanghai dropped earlier to an eight-week low.


Read more at Bloomberg Commodities News

Italian Shares Gain, Paced by Lottomatica; Capitalia Shares Are Suspended

(Bloomberg) -- Italy's S&P/MIB Index rose. Lottomatica SpA advanced after Goldman, Sachs & Co. started coverage of shares of Italy's biggest lottery company with a ``buy'' recommendation.

Eni SpA paced gains by energy companies as oil traded near a three-week.


Read more at Bloomberg Stocks News

FACTBOX: Five facts about French economy chief Borloo

(Reuters) - * Dubbed the "social conscience" of the previous conservative administration, Borloo, a former lawyer, first came to attention as mayor of the northern town of Valenciennes, overseeing its revival from a post-industrial slump.

* As labor minister in the outgoing government, he won plaudits for masterminding a downturn in unemployment, which fell to a near 24-year low of 8.3 percent in March. Doubts about the data's accuracy tarnished that achievement.


Read more at Reuters.com Bonds News

Australian Cattle Prices Rise for Fourth Day After `Steady, Soaking' Rains

(Bloomberg) -- Cattle prices in Australia, the world's second-largest beef exporter, rose for a fourth straight day as rain encouraged farmers to hold back animals from auction.

``Steady, soaking rain'' fell in south-west Queensland, much of New South Wales and Victoria in the past 24 hours, David Crombie, president of the National Farmers' Federation, said from Brisbane, Queensland, adding to falls earlier this week.


Read more at Bloomberg Commodities News

Japanese Government Bonds Gain for Week as Report Shows GDP Growth Slowed

(Bloomberg) -- Japanese bonds gained for the week, halting two weeks of losses, after government reports showed growth in the world's second-largest economy slowed more than expected and machinery orders fell.

The rally in debt pushed 10-year yields to the lowest in more than two weeks as the reports fueled speculation the economy isn't growing fast enough to allow the central bank to keep raising interest rates. Bank of Japan policy makers yesterday kept the key overnight lending rate on hold for a fourth straight meeting.


Read more at Bloomberg Bonds News

European Stocks Advance, Led by Statoil on Oil Rally; BA, BHP Decline

(Bloomberg) -- European stocks rose for a second day after a rally in oil after markets closed yesterday pushed energy shares higher. Statoil ASA and Royal Dutch Shell Plc advanced

British Airways Plc dropped after the airline reported a loss. BHP Billiton Ltd. and Rio Tinto Group also limited gains after copper prices fell.


Read more at Bloomberg Stocks News

Tokyo gold falls, platinum suffers less

(Reuters) - Tokyo gold futures fell on Friday as an extended fall in the cash price below $660 an ounce triggered technical selling, but platinum futures were dealt less of a blow as the wage talks began at top mines in South Africa.

Spot gold firmed slightly after it fell as low as $653.40 an ounce the previous day, a two-month low. It traded at $658.00/659.50 as of 0328 GMT, compared with $657.30/658.80 late in New York.


Read more at Reuters Africa