Oil slides nearly 1 pct as Nigerian strike ends

(Reuters) - Oil prices fell by more than half a dollar to below $71 a barrel on Monday as Nigerian unions ended a strike that had threatened to disrupt oil exports.

Benchmark London Brent crude for August fell 64 cents or 0.9 percent to $70.54 a barrel by 0636 GMT. The contract touched a 10-month high of $72.25 a barrel early last week as dealers fretted over the potential impact of the general strike.


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FACTBOX: China's property market cooling measures

(Reuters) - Following are some of the steps taken to date to cool the economy and property sector.




June 18, 2007 - China's banking regulator says it has punished the branches of eight banks for extending loans that were illicitly used for property and stock market investments


Read more at Reuters.com Bonds News

Reuters Summit-FACTBOX-China's property market cooling measures

(Reuters) - The government initially focused on curbing land supply in
mid-2003, but this only pushed up prices. So it then switched
the focus to cooling demand.




Following are some of the steps taken to date to cool the
economy and property sector.


Read more at Reuters.com Government Filings News

Interest Rates Will Rise in `Golden Age' of Global Expansion, BIS Reports

(Bloomberg) -- Central banks will need to continue
raising interest rates to quell inflation as the ``golden age''
of global economic expansion continues, the Bank for
International Settlements said.

``Inflationary pressures might turn out to be more
significant than anticipated,'' BIS General Manager Malcolm
Knight told a press conference in Basel, Switzerland, yesterday.
``Authorities should continue gradually to normalize the level of
policy interest rates'' as the global economy extends what ``may
well go down in history as a `golden age.'''


Read more at Bloomberg Currencies News

Indonesian Palm Oil Exports May Fall 6 Percent on Tax, Trade Minister Says

(Bloomberg) -- Indonesia, the world's largest palm
oil producer, will export 6 percent less of the tropical oil
this year after raising taxes on shipments to ensure that local
supplies are adequate, Trade Minister Mari Pangestu said.

``It will provide enough of a dampening effect domestically,
and will stabilize domestic cooking oil prices,'' Pangestu said
in an interview in Singapore. Cooking oil in the country is made
from palm oil, the price of which rose to a record this month.


Read more at Bloomberg Commodities News

BP, Dobbies, ICI, LSE, Pearson, Prudential: U.K., Irish Equity Preview

(Bloomberg) -- The following stocks may rise or fall
in U.K. and Irish markets today. Stock symbols are in parentheses
and prices are from the June 22 close.

The benchmark FTSE 100 Index fell 28.60, or 0.4 percent, to
6567.40 in London. The FTSE All-Share Index fell 13.43, or 0.4
percent, to 3390.26.


Read more at Bloomberg Stocks News

Asian Shares Decline on Interest-Rate Concern; Mitsubishi Estate Drops

(Bloomberg) -- Shares of Asian property developers
and banks dropped amid speculation rising interest rates will
hurt earnings. Mitsubishi Estate Co. and Westpac Banking Corp.
led the decline.

Limiting losses, some exporters such as Canon Inc. and Honda
Motor Co. advanced as investors judged the benefit of a weaker
yen outweighed the implications of mortgage defaults in the U.S.


Read more at Bloomberg Stocks News

South Korean Won Climbs as Consumers Help Support the Economic Expansion

(Bloomberg) -- The South Korean won climbed after a
central bank report showed consumers were the most optimistic in
15 months in the second quarter.

Growth in Korea's gross domestic product is likely to
strengthen ``gradually'' over the rest of 2007 as domestic demand
picks up, the Organization for Economic Cooperation and
Development said June 20. The won rose to a one-month high June
20, two days after the Finance Ministry said consumers are
supporting the expansion in Asia's third-largest economy.


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Goldman to sell S.Korea cable operator stake: paper

(Reuters) - The sale may include management rights from the family owners of the country's No. 2 cable TV operator, the daily said.




Three investment groups have handed in their bids, including South Korean investment fund MBK Partners, a private equity arm run by Australia's Macquarie Bank and South Korea's Shinhan Financial Group .


Read more at Reuters.com Mergers News

Australian Dollar Near 18-Year High as Wider Bond Spread Lures Investors

(Bloomberg) -- The Australian dollar traded near an
18-year high as investors were attracted to the yield advantage
of the country's bonds over U.S. debt.

The yield spread between Australian two-year bonds and
equivalent Treasuries widened to 1.51 percentage points, the
most in two weeks. The currency is the second best performer
this month after New Zealand's dollar on Australia's 6.25
percent interest rate, which compares to 5.25 percent in the U.S.


Read more at Bloomberg Currencies News

Japanese Yen, Indian Rupee, Indonesian Rupiah, Won: Asian Currency Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the June 22 session.


Read more at Bloomberg Currencies News

Blackstone Group, Crocs, Salesforce, Family Dollar: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes on U.S. exchanges
tomorrow. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Blackstone Group LP (BX US): The private-equity firm may
face challenges from higher taxes and a shrinking field of
takeovers, Barron's said, without citing anyone. Blackstone
stock rose $4.06 to $35.06 in its June 22 debut following a
$4.13 billion initial public offering.


Read more at Bloomberg Stocks News

Goldcorp, Eldorado Shares May Catch Up to Bullion as Mining Costs Decline

(Bloomberg) -- Gold stocks have failed to keep up
with bullion prices this year. As mining costs slow and as the
companies find more gold that can be mined at a profit, the
shares have every reason to rebound.

Mining costs, which have doubled in the past seven years,
are starting to moderate as some producers focus on larger,
higher-grade mines in countries where operating expenses are
lower. Average total cash costs for North American producers are
forecast by National Bank Financial Inc. to fall 1.9 percent in
2008 after gaining by more than a fifth this year.


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Ford hires KPMG to eye Jaguar books: report

(Reuters) - "KPMG's main task will be giving a clear picture of Jaguar
and Land Rover's performance as businesses separate from the
influence of Ford," the paper said, adding that the accounting
firm is also understood to have been asked to examine the
companies' pension liabilities.




Officials at Ford and KPMG were not immediately available
for comment.


Read more at Reuters.com Business News

Fed eyed after record-setting week

(Reuters) - An interest rate decision by the U.S. central bank and any fresh clues it gives on the health of the world's largest economy will be in focus this week as investors take stock of gains that have pushed share markets from Hong Kong to Singapore to record highs.

The latest rally in Asian markets was underpinned by growing optimism about a turnaround in earnings for chip makers, a move that could help see further gains in the sector.


Read more at Reuters Africa