Glaxo's Avandia study in jeopardy: official

(Reuters) - Independent research committees overseeing the study, which is designed to gauge any increased risk of heart attack or stroke for people taking it, "are concerned about the ability of the study to continue" and are "considering what to do to prevent people from dropping out of the trial," the Times quoted Krall as saying.




Safety concerns about Avandia were stoked on Monday when The New England Journal of Medicine suggested in an analysis that Avandia, a treatment for Type 2 diabetes, carries an increased risk of heart attack, estimated in excess of 40 percent, in comparison to other diabetes drugs or placebos.


Read more at Reuters.com Government Filings News

No objections against TNT price cap-Dutch government

(Reuters) - An amendment to the country's new postal law seeks to limit
the returns TNT can generate on part of its mail business, the
so-called universal service that includes letters and parcels.




Analysts have voiced concerns that the rule, put forward by
parliamentarians of the ruling Christian Democrats and Labour,
could hurt TNT's margins and as a consequence its valuation.


Read more at Reuters.com Government Filings News

UPDATE 1-Another UBS M&A boss out, new LBO heads in - memos

(Reuters) - NEW YORK, May 25 - Another top investment banker
at UBS is out, with Jeff Raich departing after six years,
according to an internal memo obtained by Reuters on Friday,
following the departure of several high-ranking UBS bankers in
the last few months.




The Swiss bank also announced a shake-up in its private
equity banking team, known in Wall Street terminology as the
financial sponsors group.


Read more at Reuters.com Mergers News

National Beverage declares 20 pct stock dividend

(Reuters) - "The stock dividend and possible changes concerning overall
stock trading activities are designed to enhance shareholder
value and promote additional investor interest in our company,"
Chief Executive Nick Caporella said in a statement.





Read more at Reuters.com Government Filings News

GLOBAL MARKETS-M&A activity boosts stocks, dollar dips

(Reuters) - NEW YORK, May 25 - U.S. share prices rose on
Friday after Nasdaq Stock Market Inc. agreed to buy a Nordic
exchanges company while the dollar slipped on data showing U.S.
existing home sales last month neared a four-year low.




Treasury debt prices, meanwhile, remained on track for a
third straight week of losses, weighed down by a recent spate
of strong U.S. economic data, while oil prices rose ahead of a
U.S. holiday weekend and the start of the summer driving
season.


Read more at Reuters.com Bonds News

UPDATE 2-CanWest MediaWorks fund agrees to go private

(Reuters) - TORONTO, May 25 - CanWest MediaWorks Income Fund
.




Units of the Toronto-based fund rose 65 Canadian cents, or
7.7 percent, to C$9.05 on the Toronto Stock Exchange, before
backing off to $9.02 on a volume of about 1.9 million units,
just above the C$9 offer price.


Read more at Reuters.com Mergers News

FED FOCUS-Central banks toil to glean inflation expectations

(Reuters) - The task has become easier, but is still a very imprecise
science, according to papers presented at a conference hosted
here by the Dallas and Cleveland Federal Reserve banks.




The Federal Reserve, European Central Bank and other
authorities care about expectations for inflation because it
helps them gauge how households view price shocks, like a jump
in the cost of oil, and compare it with their own forecasts.


Read more at Reuters.com Economic News

FDA asks cos to stop marketing unapproved cold medicine versions

(Reuters) - Shares of the company were up more than 9 percent at $43.97 in afternoon trade on the Nasdaq.







Read more at Reuters.com Hot Stocks News

Hog Futures Fall as Pork Glut Headed for Grocers; Cattle Futures Decline

(Bloomberg) -- Hog futures fell in Chicago as
government figures showed a glut of pork will reach supermarket
shelves too late to be sold before what's traditionally one of
the largest grilling weekends in the U.S.

About 1.18 million hogs were slaughtered this week as of
yesterday, 4 percent more than in the same period last week,
according to the U.S. Department of Agriculture. Meat from those
animals won't arrive at supermarkets in time for the Memorial
Day weekend in the U.S., said Rich Nelson, a livestock analyst
at Allendale Inc. in McHenry, Illinois.


Read more at Bloomberg Commodities News

U.S. Pound Posts Weekly Gain on Outlook for Manufacturing, Interest Rates

(Bloomberg) -- The pound gained against the dollar
this week as manufacturing figures and minutes from the Bank of
England's last policy meeting prompted traders to increase bets
that interest rates will rise.

The U.K. currency rallied the most in a month on May 23
after the central bank said that policy makers voted unanimously
for a change in interest rates for the first time since August
2004. The government today said gross domestic product grew in
the first quarter at a faster annual pace than economists
predicted in a Bloomberg survey.


Read more at Bloomberg Currencies News

Polish Zloty Drops for Third Week Against Euro as Investors Shun Risk

(Bloomberg) -- The Polish zloty fell for a third week
against the euro as investors turned more risk averse on concerns
about the pace of a rally in China's stocks and political tensions
with the army in Turkey.

The zloty was the sixth worst-performer against the euro of
71 currencies monitored by Bloomberg in the past five days.
Investor sentiment toward emerging markets also soured after
Federal Reserve Chairman Alan Greenspan said on May 23 that
Chinese equities might undergo a ``dramatic contraction.''


Read more at Bloomberg Currencies News

Freddie Mac to sell $6.0 bln bills next week

(Reuters) - -- $1.0 billion of one-month bills due June 25, 2007 to be
sold Wednesday and settle Thursday;




-- $2.0 billion of three-month bills due Aug. 27, 2007 to
be sold Tuesday and settle Wednesday;


Read more at Reuters.com Bonds News

U.S. existing home sales fell 2.6 pct in April

(Reuters) - The inventory of homes for sale grew 10.4 percent to 4.2
million units, which represents an 8.4 months' supply at the
current sales pace.




Economists polled by Reuters were expecting home resales to
rise to a 6.14 million-unit pace from the 6.12 million-unit
rate initially reported for March. The March sales pace was
revised to 6.15 million.


Read more at Reuters.com Economic News

Dethroned King of Beers Needs InBev's Stella, Beck's to Tap U.S. Thirst

(Bloomberg) -- Anheuser-Busch Cos. was dethroned as
the King of Beers as U.S. drinkers switched to imports. The
brewer's best shot at regaining the crown rests on distributing
those rivals' beers in its home market.

Anheuser-Busch, which was the world's biggest brewer for at
least five decades, began selling beers such as Stella Artois
and Beck's for InBev NV in February to lure consumers willing to
pay more for European ales as sales of Budweiser stagnate.


Read more at Bloomberg Exclusive News

AtheroGenics cuts 50 pct jobs to focus on heart drug

(Reuters) - The company, which now has 67 employees remaining, will announce the full plan on May 31, it said.






Read more at Reuters.com Government Filings News

Oil Rises on Signs N.Y. Prices Fell Too Far, Nigeria Oil-Worker Kidnapping

(Bloomberg) -- Crude oil rose in New York on
speculation that yesterday's 2.4 percent drop in prices was
larger than justified, and after oil workers were kidnapped in
Nigeria, Africa's biggest producer.

``Some recovery is to be expected after the huge move we had
yesterday,'' said Tom Bentz, an oil broker with BNP Paribas Inc.
in New York. ``There are still plenty of bullish factors to be
concerned about. There are more kidnappings in Nigeria and
threats of strikes and violence, the Iran situation simmers and
gasoline supplies are tight.''


Read more at Bloomberg Energy News

Gold Gains in New York as Euro Strengthens Against Dollar; Silver Advances

(Bloomberg) -- Gold in New York rebounded from a two-
month low as the euro strengthened against the dollar, increasing
the appeal of the precious metal as an alternative investment.
Silver also rose.

Gold generally moves in tandem with the euro, which rose
today after falling to a six-week low earlier this week. Before
today, gold had climbed 2.4 percent this year while the euro
gained 1.8 percent against the dollar.


Read more at Bloomberg Commodities News

Yen Falls After North Korea Test-Fires Missiles Into the Sea of Japan

(Bloomberg) -- The yen fell against the dollar and
euro after North Korea test-fired missiles into the Sea of Japan,
prompting a threat of sanctions from Japanese Prime Minister
Shinzo Abe.

The Japanese currency declined against all 16 most-actively
traded currencies tracked by Bloomberg after Abe said his
country's patience ``isn't limitless'' and Japan retains the
option of further sanctions against its Asian neighbor. North
Korea's actions are a setback for the six-party talks aimed at
dismantling its nuclear program.


Read more at Bloomberg Currencies News

S.African public sector workers protest over pay

(Reuters) - Thousands of South African public sector workers staged peaceful protests over pay on Friday.

Unions have threatened indefinite strike action if the government does not meet their wage demands by May 31.


Read more at Reuters Africa

RPT-UPDATE 1-Airbus revamp should not be questioned-Germany

(Reuters) - "The programme should not be called into question. The
government expects that the company will fully implement the
programme," government spokesman Thomas Steg told a regular news
conference on Friday.




Focus magazine had reported a new row between France and
Germany was brewing as the Paris government believed the
restructuring measures, which include 10,000 job cuts, went in
Germany's favour.


Read more at Reuters.com Mergers News

Statoil Starts Kalundborg Refinery Crude Unit Following Five-Day Delay

(Bloomberg) -- Statoil ASA, Norway's biggest oil
company, started a crude distillation unit at its Kalundborg
refinery in Denmark today, five days later than it had planned.

``Startup of the CDU took place at 11 a.m. today,'' Orjan
Heradstveit, Statoil's public affairs manager, said in an e-mail.


Read more at Bloomberg Energy News

GeoVera files IPO of 5.9 mln shares at $16-$18 each

(Reuters) - GeoVera, a provider of specialty residential property
insurance products, said it applied for a Nasdaq lisitng under
the symbol "GEOV."





Read more at Reuters.com Bonds News

S.Africa's 3-month T-Bill rate up at 8.68 pct

(Reuters) - The average discount rate for South African three-month Treasury Bills rose to 8.68 percent on Friday from 8.64 percent last week, the Reserve Bank said.

The average yield was 8.87 percent from 8.83 percent, while applications for the 2.3 billion rand of bills on offer totalled 5.361 billion rand.


Read more at Reuters Africa

Franc Headed for Weekly Gain Versus Euro as SNB Signals Increase in Rates

(Bloomberg) -- The Swiss franc headed for a weekly
gain against the euro, snapping a four-week losing run, as
central bank policy makers indicated they may raise interest
rates to curb inflation.

The franc gained for a fifth day versus the euro after Swiss
National Bank President Jean-Pierre Roth and policy maker Thomas
Jordan said they're watching the impact of the franc's weakness
on inflation. The currency also rose before data that'll probably
show the country's leading economic indicators rose for a fourth
straight month in May.


Read more at Bloomberg Currencies News

CapitaLand Plans Singapore's Biggest Convertible Bond Sale, Document Shows

(Bloomberg) -- CapitaLand Ltd., Southeast Asia's
biggest developer by sales, plans to raise S$1 billion ($655
million) in Singapore's biggest convertible bond sale, according
to a term sheet sent to investors.

The developer plans to let investors convert the 15-year,
2.95 percent securities into its shares at between S$13.5642 and
S$14.0486, a premium of as much as 74 percent from the volume-
weighted average price today, according to the document. It will
be the highest conversion premium for an equity-linked debt sale
in Asia and the longest maturity, according to Bloomberg data.


Read more at Bloomberg Bonds News

Polish Zloty Set for Third Week of Declines Versus Euro on Risk Aversion

(Bloomberg) -- The Polish zloty is set for a third
week of declines as investors turn more risk averse on concerns
about the pace of a rally in China's stocks and political tensions
with the army in Turkey.

The zloty was the fourth worst-performer against the euro of
71 currencies monitored by Bloomberg in the past five days.
Investor sentiment toward emerging markets also soured after
Federal Reserve Chairman Alan Greenspan said on May 23 that
Chinese equities might undergo a ``dramatic contraction.''


Read more at Bloomberg Currencies News

U.K. Working-Day Electricity Price Advances as Natural Gas Costs Increase

(Bloomberg) -- U.K. electricity to be delivered on
the next working day jumped as natural-gas costs increased.

U.K. working-day-ahead baseload power rose 12 percent to 25
pounds ($49.66) a megawatt hour, up from a last traded price of
22.25 pounds a megawatt hour yesterday for delivery today,
according to prices on Bloomberg from the energy broker Spectron
Group Plc. The next working day is May 29, because of a public
holiday on May 28.


Read more at Bloomberg Energy News

Dollar Heads for Fourth Weekly Gain Versus Euro on Rebound in Housing Data

(Bloomberg) -- The dollar headed for a fourth weekly
gain against the euro, the longest stretch in 15 months, as
traders scaled back expectations for a Federal Reserve interest-
rate cut this year.

The U.S. currency rose this week versus 11 of the 16 most-
active on speculation an existing-home sales report today may
beat economists' forecasts. The dollar strengthened yesterday
after new home sales increased the most in 14 years. The reports
may suggest the housing market is stabilizing, reducing the need
for lower borrowing costs.


Read more at Bloomberg Currencies News

European Stocks Drop, Paced by Anglo American, Rio; OMX Surges on Takeover

(Bloomberg) -- European stocks dropped for a second
day, paced by mining companies, after copper in Shanghai fell the
most in a week and gold traded near a two-month low.

Anglo American Plc, the world's second-biggest mining
company, and Rio Tinto Plc, the third largest, paced the decline.
OMX AB surged after Nasdaq Stock Market Inc. agreed to buy
Europe's fifth-largest equity market.


Read more at Bloomberg Stocks News