Dollar steadies but credit market worries linger

(Reuters) - The dollar steadied on Tuesday as a rise in U.S. stocks overnight eased some fears about deteriorating credit markets as market players awaited U.S. data for clues on the Federal Reserve policy outlook.

Concerns linger that a further slump in credit and equity markets may prompt investors to continue to cut risky positions like carry trades -- borrowing low-yielding currencies such as the yen to buy higher-yielding assets.


Read more at Reuters Africa

Lloyds TSB profits, dividend rise, sells Abbey Life

(Reuters) - Britain's fifth biggest bank raised its interim dividend by
5 percent and said its profit before tax and volatility in the
six months to the end of June was 2.01 billion pounds, up from
1.75 billion a year before.




Read more at Reuters.com Market News

Rhodia Q2 net 3 mln euros, confirms targets

(Reuters) - Rhodia reported recurring second-quarter earnings before
interest, tax, depreciation and amortisation of 203
million euros, up 22 percent, and operating profit of 119
million euros, up 32 percent.




Revenues rose 6.8 percent to 1.293 billion euros.


Read more at Reuters.com Market News

Brasil Telecom, BR Malls, Grupo Mexico and Andina: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Taiwan Government Bonds Fall as Interest Rate May Rise; Currency Unchanged

(Bloomberg) -- Taiwan's bonds fell for a second day
on concern rising consumer prices will prompt the central bank
to increase interest rates to stem inflation.

Crown Plastic Enterprise Co. and Tah Hsin Industrial Co.,
makers of waterproof garments and shoes, will raise prices to
reflect higher commodities costs, the Commercial Times reported
today, without citing sources. Central bank policy makers raised
the benchmark rate by a quarter-percentage point to 3.125
percent in June, the 12th consecutive increase.


Read more at Bloomberg Bonds News

Codelco Contract Workers to Vote on New Agreement, May End Strike Over Pay

(Bloomberg) -- Codelco, the world's biggest copper
producer, resumed production at its second-largest mine today as
workers employed by contractors prepare to vote on whether to end
a five-week dispute over wages.

Non-contract union workers returned to the El Teniente mine
in central Chile today, the company's press office in Santiago
said. They stopped work July 26 when the company shuttered the
mine because of protests by the striking contractors. A smaller
mine remains shut.


Read more at Bloomberg Commodities News

LG Telecom Posts Lowest Profit in a Year on Spending for Handset Subsidies

(Bloomberg) -- LG Telecom Ltd., South Korea's third-
largest mobile-phone operator, reported its lowest profit in a
year after the company spent more on handset subsidies to win
customers from larger rivals SK Telecom Co. and KT Freetel Co.

Second-quarter net income was 54 billion won ($59 million),
from a record loss of 195.4 billion won a year earlier, Seoul-
based LG Telecom said in a statement today. Sales rose 18 percent
to 1.16 trillion won.


Read more at Bloomberg Emerging Markets News

South Korea Stocks Rise, Set for Sixth Month of Gains; Doosan Leads Climb

(Bloomberg) -- South Korean stocks rose, set to
complete a sixth month of gains. Doosan Infracore Co. advanced
after Hyundai Securities Co. said the $4.9 billion acquisition of
an Ingersoll-Rand Co. unit will help the company expand into
developed markets.

``The acquisition will help it make inroads into markets like
the U.S.,'' said Cho Joon Hyuk, who helps manage $1.5 billion at
Nonghyup CA Asset Management in Seoul. ``Investors also like the
deal because the Doosan Group kept saying they were interested in
takeovers and product diversification, and now they're actually
showing us it's true.''


Read more at Bloomberg Stocks News

Philippine Peso Gains as Stocks Recovery Spurs Emerging Markets Demand

(Bloomberg) -- The Philippine peso rose for a
second day on speculation gains in global stocks will encourage
investors to buy back holdings of emerging market assets.

U.S. stocks yesterday rebounded from the worst two-day
decline since 2003, suggesting the rout in global equities is
over. The peso last week had its first weekly decline in four as
the Standard & Poor's 500 Index had its biggest five-day drop in
4 1/2 years as concern about weakness in the U.S. housing market
prompted investors to flee riskier assets.


Read more at Bloomberg Currencies News

Southern Copper's Workers at Mexico's Largest Copper Mine Begin Strike

(Bloomberg) -- Workers at Southern Copper Corp.,
the world's fifth-largest producer of the metal, began a strike
at three of the company's Mexican mines to demand wage
increases, a union official said.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc
mines, said Carmen Romero, spokeswoman for the National
Mining and Metal Workers Union.


Read more at Bloomberg Commodities News

UPDATE 1-Japan's jobless rate hits nine-year low

(Reuters) - The tight labour market kept alive market expectations that
the central bank will raise interest rates as early as next
month, although global market volatility in recent days has
dented the near certainty many in the market had felt about this.




As well, the recovery in personal consumption remains
fragile, with separate government data showing that overall
household spending in June rose only 0.1 percent from a year
earlier, falling short of a median market forecast of a 0.7
percent rise.


Read more at Reuters.com Economic News

Australia's S&P/ASX 200 Index Climbs, Led by BHP Billiton, Macquarie Bank

(Bloomberg) -- Australia's benchmark stock index,
the S&P/ASX 200 Index, rose 0.32 percent at 10:05 a.m.

The index of 201 companies traded on the Australian Stock
Exchange rose 19.40 to 6,128.20. Among the stocks in the index,
90 rose, 25 fell and 86 were unchanged.


Read more at Bloomberg Stocks News

Australia's June Trade Deficit Probably Widened on Rising Imports, Storm

(Bloomberg) -- Australia's trade deficit probably
widened in June as a storm disrupted coal exports and imports
increased to a record.

The trade gap widened to A$1.2 billion ($1 billion) from
A$807 million in May, according to the median estimate of 24
economists surveyed by Bloomberg News. The Bureau of Statistics
will release the report tomorrow at 11:30 a.m. in Sydney.


Read more at Bloomberg Bonds News

UPDATE 1-MGIC says investment in subprime venture at risk

(Reuters) - MGIC is slated to merge with rival Radian Group Inc.
, which also owns a stake in the venture, called
Credit-Based Asset Servicing and Securitization LLC ,
later this year.




"Beginning in February, the market for subprime mortgages has
experienced significant turmoil, with market dislocations
accelerating to unprecedented levels ... in ... mid-July," MGIC
said in its statement. Credit agencies have now downgraded
hundreds of bonds backing subprime loans to junk.


Read more at Reuters.com Mergers News

UPDATE 1-ThermoGenesis sees Q4 revenue below analysts' view

(Reuters) - The maker of automated blood-processing systems and
disposable products also said it named Chief Operating officer
William Osgood as the chief executive officer.




Osgood replaces Phil Coelho, who will remain with the
company as the chief technology architect.
In a separate statement, the company said it received U.S.
regulatory approval to market its CryoSeal fibrin sealant in
liver resection surgery.


Read more at Reuters.com Government Filings News

UDR posts higher quarterly FFO

(Reuters) - Analysts were expecting FFO of 45 cents cents a share,
according to Reuters Estimates.




FFO removes the profit-reducing effect that depreciation --
a noncash accounting item -- has on earnings.


Read more at Reuters.com Market News

Icahn raises Temple-Inland stake to 8.3 percent

(Reuters) - Temple-Inland's recent proxy statement showed that Icahn
held a 6.7 percent stake with more than 7.2 million shares as
of March 27.




Read more at Reuters.com Bonds News

US CREDIT-Spreads likely to stay shakey after whipsaw

(Reuters) - Analysts were hesitant to call a top or bottom to the
market on Monday though, after benchmark spreads whipsawed
through one of their largest one day moves in history, hitting
mutli-year wides early in the day, only to end the day
tighter.




The investment grade credit derivative index jumped around
20 basis points in early trade to more than 100 basis points,
its widest level since the index's inception in 2004, before
whipping back to around 73 basis points, around 8 basis points
tighter on the day.


Read more at Reuters.com Bonds News

Asian Stocks Rebound From Rout in U.S. Trading; HSBC Climbs on Earnings

(Bloomberg) -- Asian stocks trading in the U.S.
rebounded from their biggest weekly drop in more than four months
after HSBC Holdings Plc and PT Telekomunikasi Indonesia reported
higher earnings.

The Bank of New York Co.'s Asia ADR Index, tracking the
region's American depositary receipts, rose 1.9 percent, the most
since May 11, to 167.96. The measure last week declined 3.8
percent, the most since the period ended March 2.


Read more at Bloomberg Stocks News

US hospital chain Community Health profit up

(Reuters) - Wall Street analysts on average had been forecasting 57
cents per share, according to Reuters Estimates.




Read more at Reuters.com Market News

Bridgestone, Clarion, Isuzu, Komatsu, Shinsei Bank: Japan Equity Preview

(Bloomberg) -- The following stocks may move in
Japanese markets. Prices are as of the close of trading.
Statements were released after the close. Stock symbols are in
parentheses.

Bridgestone Corp. (5108 JT): The world's largest tiremaker
raised its annual unconsolidated profit forecast for the second
time because of a weaker yen. Net income may total 77 billion yen
($648 million) for the 12 months ending Dec. 31, compared with a
previous estimate of 73 billion yen, Bridgestone said in a
release. It also raised its unconsolidated sales forecast for
this year by 1 percent to 1.03 trillion yen and its operating
profit forecast by 10 percent to 108 billion yen. The stock fell
25 yen, or 1 percent, to 2,490.


Read more at Bloomberg Stocks News

House lawmaker to offer credit card bill

(Reuters) - "Consumers are concerned about interest rates and fees and not knowing anything about it," said Carolyn Maloney, a New York Democrat who chairs the House of Representatives subcommittee on financial institutions and consumer credit.




After a two-hour meeting with credit card issuers and consumer group advocates, Maloney told reporters her congressional office also plans to propose this week a set of best practices for those companies. She did not provide specifics on them or on the legislation.


Read more at Reuters.com Bonds News

US STOCKS-S&P, Nasdaq gain 1 pct as financials, energy advance

(Reuters) - The Dow Jones industrial average was up 124.78
points, or 0.94 percent, at 13,390.25. The Standard & Poor's
500 Index was up 18.22 points, or 1.25 percent, at
1,477.17. The Nasdaq Composite Index was up 28.54
points, or 1.11 percent, at 2,590.78.




Read more at Reuters.com Bonds News

ASM Pacific, HSBC, Kookmin, Telekomunikasi: Asia Ex-Japan Stock Preview

(Bloomberg) -- The following stocks may rise or fall
in Asian markets, excluding Japan. This preview includes news
that broke after markets closed. Prices are from the local
market's last close. Stock symbols are in parentheses after
company names.

Banking stocks: China ordered banks to set aside larger
reserves for the sixth time this year to curb lending and
investment after the economy grew at the fastest pace since 1994.
Lenders must put aside 12 percent of deposits as reserves
starting Aug. 15, up from 11.5 percent, the People's Bank of
China said yesterday.


Read more at Bloomberg Stocks News

TREASURIES-Bonds fall as stocks turn higher

(Reuters) - Bond prices mainly have been moving in the opposite
direction of stocks -- when stocks slide, fearful investors
turn to the relative safety of bonds, and when stocks show
signs of life, bonds retreat.




"I really think Treasuries are just watching stocks -- we
have no other drivers for today," said Beth Malloy, bond market
analyst at Briefing.com in Chicago, adding "we are also weighed
by last week's rally."


Read more at Reuters.com Bonds News

Wheat Futures Decline as Spring Harvest Gets Under Way in Northern Plains

(Bloomberg) -- Wheat fell the most in two weeks in
Chicago as U.S. farmers begin harvesting a spring crop that may
yield more bushels than normal.

About 2 percent of spring wheat, grown mostly in the
northern Great Plains including North Dakota and Minnesota, was
harvested as of July 22. The government will update that figure
today. Some fields may yield as much as 95 bushels an acre, or
almost three times the five-year average, said Vince Boddicker,
manager of Farmers Trading Co. in Mitchell, South Dakota.


Read more at Bloomberg Commodities News

RLPC-Integra Telecom reduces 1st-lien loan, delays deal

(Reuters) - The financing is led by Deutsche Bank, Morgan Stanley and
CIBC World Markets and backs the acquisition of Eschelon
Telecom .




Read more at Reuters.com Mergers News

UPDATE 1-EXCO to form master limited partnership unit

(Reuters) - BANGALORE, July 30 - Oil and gas producer EXCO
Resources Inc. on Monday said it plans to form a master
limited partnership and make an initial public offering
of $1.5 billion of common units in the subsidiary.




The company plans to use the MLP as a tax-efficient vehicle
to pursue acquisition of additional mature producing
properties, either from EXCO or from third parties, the Dallas,
Texas-based company said in a statement.


Read more at Reuters.com Mergers News

UPDATE 1-Russel Metals second-quarter profit drops

(Reuters) - Russel, one of the largest metals distribution companies in
North America, said it earned C$29.3 million ,
or 47 Canadian cents a share, in the quarter ended June 30,
down from C$46.2 million, or 74 Canadian cents a share, in the
year-earlier quarter.




Sales for the Mississauga, Ontario-based company were C$653
million, down from C$686 million.


Read more at Reuters.com Market News

European Stocks Fall, Led by IKB, UBS, Commerzbank; ICI Gains on New Bid

(Bloomberg) -- European stocks fell for a fifth day,
led by financial-services companies after IKB Deutsche
Industriebank AG of Germany said profit will be ``significantly''
lower than forecast, hit by the U.S. subprime mortgage rout.

IKB tumbled 20 percent. UBS AG, the biggest money manager,
and 3i Group Plc, Europe's largest publicly traded buyout and
venture-capital firm, led declines by financial companies.
Commerzbank AG slid after saying it expects to make provisions
for losses tied to the U.S. subprime mortgage market.


Read more at Bloomberg Stocks News

CNA, Ingersoll-Rand, RadioShack, ValueClick, Vivus: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges.
Stock symbols are in parentheses after company names. Share
prices are as of 11:40 a.m. in New York.

Some mortgage lenders fell after American Home Mortgage
Investment Corp. (AHM US) delayed its quarterly dividend and
raised doubts about whether it has enough cash to stay in
business. Shares of American Home were halted.


Read more at Bloomberg Stocks News

SABIC buys into $1.5 bln Mauritania iron project

(Reuters) - Saudi Basic Industries Corp. (SABIC), the Gulf's largest steel producer, said on Monday it agreed to take a 35 percent stake in a 5.6 billion riyal iron ore project in Mauritania.

SABIC's share of the project to produce iron ore pellets is costing $262 million, it said in a statement on the Saudi stock exchange Web site.


Read more at Reuters Africa

Oil Falls From Close to One-Year High on Expected U.S. Fuel Inventory Gain

(Bloomberg) -- Crude oil fell from the highest in
almost a year, pulled lower by gasoline, on speculation U.S. fuel
stockpiles increased last week.

A government report on Aug. 1 will probably show that U.S.
inventories of gasoline and distillate fuel, a category that
includes diesel and heating oil, rose for a second week,
according to a Bloomberg News survey. The crude-oil market often
follows gasoline during the summer driving season, when motor-
fuel demand peaks.


Read more at Bloomberg Energy News

American Home Mortgage tumbles on liquidity issues

(Reuters) - Shares of American Home were down 39 percent, falling in pre-market trading to $6.39 from Friday's close of $10.47. On Friday the shares hit their lowest level since April 2003. Trading on Monday was halted for news pending.




The announcement late Friday evening reflects how liquidity and credit issues affecting subprime lenders are extending to companies that make home loans to borrowers considered to be good credit risks.


Read more at Reuters.com Business News

Angloplat decision on Twickenham by Q1 2008

(Reuters) - Capital costs have climbed for Angloplat's long-delayed, multi-billion rand Twickenham project and a decision on whether to build it will be made by early 2008, a top official said on Monday.

"There's still some more work to do on the final feasibility study," said Duncan Wanblad, who will take over as joint acting chief executive at the start of September.


Read more at Reuters Africa

French Stocks Including Michelin Gain; Societe Generale and Dexia Decline

(Bloomberg) -- French stocks including Michelin &
Cie. rose while lenders such as Societe Generale SA and Dexia SA
declined.

The CAC 40 Index added 12.06, or 0.2 percent, to 5656.02 at
3 p.m. in Paris. The SBF 120 Index rose 0.2 percent. The CAC
sank 5.3 percent last week for its biggest weekly loss since the
five days ending March 28, 2003.


Read more at Bloomberg Stocks News

UPDATE 1-Dow Jones family owners face deadline on bid

(Reuters) - NEW YORK, July 30 - Rupert Murdoch's News Corp.
appeared close to gaining sufficient approval for its
$5 billion bid for Dow Jones & Co from the Bancroft
family, The Wall Street Journal said, ahead of a Monday
deadline for responding to the offer.




The Bancrofts control 64 percent of the voting shares of
Dow Jones, owner of the Wall Street Journal. Slightly less than
half of the family's votes favored the deal as of late Sunday,
the Journal reported, citing a source close Dow Jones' board.
This accounts for 28 percent of the overall voting shares.


Read more at Reuters.com Mergers News

UPDATE 5-Nippon Steel, JFE report strong Q1 profit gains

(Reuters) - TOKYO, July 30 - Nippon Steel Corp and
JFE Holdings Inc. on Monday booked strong quarterly
profits on higher prices, raising prospects Japan's top two
steel makers' earnings could gain further momentum this year.




But high raw materials and depreciation costs look to limit
growth at Sumitomo Metal Industries Ltd. and Kobe Steel
Ltd., which rely less on booming car sheet production
than the bigger two rivals.


Read more at Reuters.com Market News

Lehman Strategist Bennett Says Corporate Bond Risk `Only For The Brave'

(Bloomberg) -- Ben Bennett, a credit strategist at
Lehman Brothers Holdings Inc. in London, comments on today's
increase in corporate bond risk.

Contracts on 10 million euros ($13.8 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies increased by 28,000 euros to 474,000 euros, according
to JPMorgan Chase & Co. Earlier the index rose as high as
504,000 euros.


Read more at Bloomberg Bonds News

Siemens shares up on rumour of special div -traders

(Reuters) - Siemens, which last week sold its automotive unit VDO to
German car-parts supplier Continental for 11.4 billion
euros , said it has no reason to speculate on
the dividend for its fiscal year 2007.




Siemens shares were up 0.6 percent at 95.40 euros at 1315
GMT, while Germany's DAX index was up 0.2 percent.


Read more at Reuters.com Market News

Cameroon cocoa farmers should cut contamination

(Reuters) - Cocoa farmers in Cameroon could double their earnings if they improve drying methods to avoid contamination which reduces the quality of their beans, a senior scientist in one of the world's biggest growers said.

Many farmers in Cameroon dry their beans over simple wood or coal fires, often by the side of the road, risking contamination with polycyclic aromatic hydrocarbons (PAHs), pollutants formed by the incomplete combustion of carbon-based fuels.


Read more at Reuters Africa

UPDATE 1-Nam Tai operating profit, revenue fall

(Reuters) - The maker of components for consumer electronics products
said operating profit was 26 cents a share, down from 46 cents
a year earlier. Analysts' average forecast was 19 cents share,
according to Reuters Estimates.




Sales dropped 7 percent to $197.8 million, falling short of
analysts' forecast of $200.9 million. The company cited a
decline in business from telecommunication components
assembly.


Read more at Reuters.com Market News

Cameco, Canfor, Connors Bros., Teck Cominco: Canadian Stock Market 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
on July 27. Symbols are in parentheses after company names and
prices are from the last close.

The Standard & Poor's/TSX Composite Index fell 96.07, or 0.7
percent, to 13,748.53 on July 27 in Toronto.


Read more at Bloomberg Stocks News

Tyson Foods returns to quarterly profit

(Reuters) - The company continued to benefit from a cost-cutting
program launched last year when it was losing money.







Read more at Reuters.com Business News

UPDATE 1-Verizon quarterly profit rises

(Reuters) - The No. 2 U.S. phone company said net profit rose 4.5
percent to $1.68 billion, or 58 cents per share, from $1.61
billion, or 55 cents per share, a year earlier.




Operating revenue rose 6.3 percent to $23.37 billion, it
said.


Read more at Reuters.com Market News

Anglo Platinum CEO says to resign end-Aug

(Reuters) - The company said it was serching for a new CEO and would
make an announcement at a later date. Angloplat is majority
owned by mining group Anglo American Plc .




Read more at Reuters.com Market News

Treasuries Advance After Index of Corporate Bond Risk Increases

(Bloomberg) -- Treasuries rose as a gauge of
corporate bond risk surged, fueling speculation losses on
securities backed by subprime mortgages will worsen.

The yield on the 10-year note fell 1 basis point, or 0.01
percentage point, to 4.75 percent as of 11:46 a.m. in London,
according to bond broker Cantor Fitzgerald LP. The price of the 4
1/2 percent note due May 2017 rose 3/32, or 94 cents per $1,000
face amount, to 98 01/32. Yields move inversely to bond prices.


Read more at Bloomberg Bonds News

Copper bounces as spotlight falls on tight supplies

(Reuters) - Copper prices bounced on Monday as the spotlight switched to tight supplies and equities firmed, but fears about economic and demand growth could return to spook the market.

Recovering confidence in metals and equity markets helped London-listed miners such as Rio Tinto, BHP Billiton, Xstrata, Anglo American to rise between 0.6 and 2.3 percent.


Read more at Reuters Africa

U.K. Electricity Prices for September Rises as Natural-Gas Costs Increase

(Bloomberg) -- U.K. power for delivery in September
rose as the cost of natural gas increased. Electricity for the
next working day was unchanged, maintaining a premium over
corresponding prices in France.

U.K. power for delivery in September increased 2.3 percent
to 26.50 pounds ($53.72) a megawatt-hour, according to prices on
Bloomberg from the broker GFI Group Inc. The contract traded at a
record-high 26.75 pounds a megawatt-hour on July 23.


Read more at Bloomberg Energy News

Treasuries Fall as Investors Shun Lowest Yields in Two Months Before Data

(Bloomberg) -- Treasuries fell as investors shunned
benchmark yields near the lowest in more than two months on
speculation the economy is growing fast enough to prevent the
Federal Reserve from cutting interest rates.

U.S. notes also declined, pushing 2- and 10-year yields up
the most in two weeks, after a technical chart some investors
use to predict market movements indicated a three-week slump in
yields had gone too far. Payrolls, wages and manufacturing
probably expanded, reports will show this week, according to
economists surveyed by Bloomberg.


Read more at Bloomberg Bonds News

Euro Advances Against Yen, Dollar as Stocks Rise, Investors Return to Risk

(Bloomberg) -- The euro gained the most in six weeks
against the yen as a recovery in stock markets lured investors to
riskier assets.

The euro rose against the dollar as Asian and European
equities rebounded, prompting investors to buy higher-yielding
assets with borrowings in Japan, which has the lowest interest
rate among major economies. The yen also retreated today as a
technical indicator signaled the currency's rally last week was
too fast.


Read more at Bloomberg Currencies News

French Stocks Including Michelin Gain; Suez and Societe Generale Decline

(Bloomberg) -- French stocks including Michelin &
Cie. and France Telecom SA rose while Suez SA and Societe
Generale SA fell.

The CAC 40 Index slipped 1, or less than 0.1 percent, to
5642.96 at 10:54 a.m. in Paris. The SBF 120 Index added 0.1
percent. The CAC sank 5.3 percent last week for its biggest
weekly loss since the five days ending March 28, 2003.


Read more at Bloomberg Stocks News

Yen May Rise to 116 as Abe Clings On as Prime Minister, Deutsche Bank Says

(Bloomberg) -- The yen may rise to a four-month high
of 116 per dollar as Japanese Prime Minister Shinzo Abe will
remain in office after his ruling coalition lost its majority in
upper house elections, according to Deutsche Securities.

Abe's decision to retain his post lessens political
instability that may have forced the Bank of Japan to delay an
interest-rate increase next month. The government is likely to
avoid raising sales taxes and close the income gap to appease
opposition parties, supporting consumer spending and the currency.


Read more at Bloomberg Currencies News

ABN CEO: Barclays bid beneficial, but cannot recommend

(Reuters) - "We continue to support Barclays' offer because we feel
overall Barclays' merger plan is to the benefit of all
stakeholders," Chief Executive Rijkman Groenink told reporters,
but said that ABN has taken a neutral stance on the competing
bids.




Read more at Reuters.com Market News

India's Unilever shares surge on results, buyback

(Reuters) - "The pricing of the buyback is good, but it is only a small share of their equity and it cannot prop up share prices in the long term," said Hemant Patel, an analyst at Enam Securities.




Hindustan Unilever, 52-percent owned by Anglo-Dutch Unilever Plc , on Sunday said it would spend up to $156 million to buy 27.4 million shares, or 1.2 percent of outstanding equity, at up to 230 rupees a share, a 17 percent premium to Friday's close.


Read more at Reuters.com Hot Stocks News

Melco PBL Hires Merrill Lynch to Sell $200 Million of Exchangeable Bonds

(Bloomberg) -- Melco PBL Entertainment (Macau) Ltd.,
a Macau casino venture between Lawrence Ho and Australian
billionaire James Packer, plans to raise $200 million selling
bond exchangeable into its shares, according to a sale document.

The Nasdaq-listed company plans to allow investors to
convert the bonds into its American depositary receipts at a
premium of between 40 percent and 50 percent to the closing price
of $12.28 on July 27, the document, which was sent to investors,
shows.


Read more at Bloomberg Bonds News

Alibaba Plans Hong Kong Initial Public Offering for Online Wholesale Unit

(Bloomberg) -- Alibaba.com Corp., operator of Yahoo!
Inc.'s Web site in China, said the company plans a Hong Kong
listing for a subsidiary that helps businesses buy and sell
products over the Internet.

Chief Executive Officer Jack Ma told employees at a July 28
meeting in East China's Hangzhou city, where Alibaba is based,
that the company had taken the first steps for listing its so-
called business-to-business e-commerce unit, Porter Erisman, a
spokesman for Alibaba.com, said today by telephone from Beijing.


Read more at Bloomberg Emerging Markets News

Match.com expands mobile online dating service

(Reuters) - The service provides subscribers with text messages to their phones when they have an e-mail from another Match.com subscriber and allows them to search for potential matches from their cell phones.




For an extra fee of about $5 per month, MatchMobile subscribers can receive and answer e-mails from suitors on their mobile phones.


Read more at Reuters.com Business News