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

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

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

Hynix Second-Quarter Profit Falls 36 Percent, Beating Analysts' Estimates

(Bloomberg) -- Hynix Semiconductor Inc., the world's
second-largest memory chipmaker, reported second-quarter profit
fell 36 percent after a glut drove down prices of computer chips.

Net income declined to 209 billion won ($228 million), from
324.4 billion won a year earlier, the Ichon, South Korea-based
company said in a statement today. Sales, excluding overseas
affiliates, rose 23 percent to 1.94 trillion won.


Read more at Bloomberg Emerging Markets News

Benchmark quarterly profit falls

(Reuters) - Excluding costs related to restructuring and other items,
the profit would have been 39 cents a share. Sales for the
period rose to $756 million from $749 million a year ago.




Analysts had forecast earnings of 38 cents a share,
excluding items, and revenue of $756.8 million, according to
Reuters Estimates.



Read more at Reuters.com Market News

UPDATE 1-Dover earnings more than double, top forecasts

(Reuters) - Earnings from continuing operations were 85 cents a share,
topping the average Wall Street forecast of 82 cents, according
to Reuters Estimates.




Sales rose 12 percent to $1.86 billion, compared with
forecasts of $1.91 billion.


Read more at Reuters.com Market News

Wipro's First-Quarter Profit Rises by 16 Percent After Winning New Orders

(Bloomberg) -- Wipro Ltd., India's third-largest
computer-services provider, had the slowest profit growth in more
than two years after the rupee's 6.8 percent gain against the
dollar in the first quarter eroded earnings in its biggest market.

Net income climbed 16 percent to 7.11 billion rupees ($176
million), or 4.87 rupees a share, for the three months ended
June 30, from 6.14 billion rupees, or 4.28 rupees, a year
earlier, Wipro said today. Profit missed the 7.44 billion rupee
median estimate in a Bloomberg survey of nine analysts. Sales
rose 34 percent to 41.83 billion rupees.


Read more at Bloomberg Emerging Markets News

Toyota Aims to Increase China Vehicle Sales by 50 Percent on Camry Demand

(Bloomberg) -- Toyota Motor Corp., the world's
biggest carmaker by market value, expects to sell about 50
percent more vehicles in China in 2007 than a year earlier,
helped by surging demand for its Camry sedans.

The automaker aims to sell more than 450,000 vehicles in
China this year, it said in a statement today. Sales next year
may climb to at least 550,000, Etsuo Hattori, Toyota's chief
China representative, added in an interview at a car show in the
northeastern city of Changchun.


Read more at Bloomberg Emerging Markets News

Target June same-store sales up 3.3 pct

(Reuters) - Analysts, on average, were expecting an increase of 3.4
percent, according to a Reuters survey.




Sales for the five weeks ended July 7 increased 7.6 percent
to $5.479 billion.


Read more at Reuters.com Market News

Infosys Reduces Profit, Sales Forecasts on Stronger Rupee; Shares Decline

(Bloomberg) -- Infosys Technologies Ltd., India's
second-largest computer-services provider, cut its profit and
sales estimates after a stronger rupee eroded the value of
earnings from the U.S., its largest market.

Net income is expected to reach 78.2 rupees ($1.94) to 79
rupees per share in the year ending March 2008, Infosys said in a
statement today, less than the 80.29 rupees to 81.58 rupees
estimate in April. Sales will range from 162.38 billion rupees to
164.33 billion rupees, trailing the earlier forecast of at least
170.38 billion rupees.


Read more at Bloomberg Emerging Markets News

Cattle Futures Gain as U.S. Exports Indicate Rising Beef Demand; Hogs Fall

(Bloomberg) -- Cattle futures rose for a third
straight session as a weekly export sales report indicated strong
demand for U.S. beef. Hog prices fell.

U.S. exporters reported net sales of 11,300 metric tons of
beef for the week ended June 28, including 1,300 tons for Japan
and South Korea, U.S. Department of Agriculture data show. Sales
to those two nations, which had been closed to U.S. beef for much
of the past three years because of mad-cow disease concerns,
indicates longer-term sales growth, said Troy Vetterkind, a
trader at e-Hedger in Chicago.


Read more at Bloomberg Commodities News

Philippine Telephone, SmarTone, Wuhan Iron: Asia Ex-Japan Equity 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.

Hong Kong retailers: The city's retail sales growth
accelerated in May on a surge in the number of tourists arriving
from mainland China to buy clothes, jewelry and cosmetics. Sales
by value rose 10.2 percent from a year earlier, the government
said. That was higher than the 7.6 percent median estimate of 12
economists surveyed by Bloomberg News.


Read more at Bloomberg Stocks News

Brazilian Corporate Note, Bond Sales Reach a Record in First Half of 2007

(Bloomberg) -- Sales of corporate debt in Brazil
rose 17 percent to a record in the first half as investors,
faced with declining interest rates, sought out riskier, higher-
yielding assets such as mortgage- and receivable-backed notes.

Sales of corporate bonds, debentures and asset-backed notes
rose to 21.72 billion reais ($11.38 billion) in the first six
months of the year -- the highest since at least 1997 -- from
18.5 billion reais in the year-ago period, according to data by
the nation's securities regulator. Last year, about 93 billion
reais were sold in corporate fixed-income securities, with about
two-thirds of those sales in the second half.


Read more at Bloomberg Emerging Markets News

UPDATE 1-US pending home sales lowest since Sept. 2001-NAR

(Reuters) - WASHINGTON, July 3 - Pending sales of existing
U.S. homes in May unexpectedly fell to their lowest level in
more than 5-1/2 years, data from a real estate trade group
showed on Tuesday in a sign of continued weakness in the
housing sector.




The National Association of Realtors said its Pending Home
Sales Index, based on contracts signed in May, fell 3.5 percent
to 97.7 from a downwardly revised level of 101.2 in April. The
May index is the lowest since 89.8 in September 2001.


Read more at Reuters.com Economic News

Japan auto sales down for 14 straight months

(Reuters) - TOKYO, July 2 - Sales of new cars, trucks and buses in Japan slid 9.4 percent in June for the 14th straight month of decline as demand remained weak across all segments and new models failed to inspire a rebound for many.



Vehicle sales totalled 462,166 units last month, with 660cc minivehicles, which get preferential tax treatment, falling 6.1 percent to 170,526 units.


Read more at Reuters.com Economic News

BT Chief Verwaayen Says `Absolutely Confident' Sales Will Beat Forecasts

(Bloomberg) -- BT Group Plc Chief Executive Officer
Ben Verwaayen said most analysts are too pessimistic about sales
growth at the U.K.'s largest phone company.

``We are absolutely confident that we will do better than
most people think,'' Verwaayen, 55, said in an interview at BT's
London headquarters. He declined to give a financial forecast.
Sales will rise 2.5 percent in fiscal 2008, based on the average
of 25 analyst forecasts compiled by Bloomberg.


Read more at Bloomberg Exclusive News

Network Rail, Italy, Carphone Warehouse to Sell Debt: European Bond Alert

(Bloomberg) -- The following is a list of bond sales
denominated in euros or pounds and expected in the coming days
and weeks.

Investment-Grade Sales


Read more at Bloomberg Bonds News

South Korean Department Store Sales Fall for Second Month on Lending Clamp

(Bloomberg) -- South Korea's department store sales
declined for a second month in May as a clampdown on the housing
market reduced home sales and sapped demand for home appliances
and furniture.

Sales at the nation's three biggest department store chains
dropped 0.1 percent from a year earlier after shedding 2.3
percent in April, the Commerce Ministry said today in Gwacheon,
South Korea.


Read more at Bloomberg Bonds News

Community Health, Varietal, EGL Plan Debt Sales: U.S. Corporate Bond Alert

(Bloomberg) -- Community Health System Inc., whose
purchase of Triad Hospitals Inc. will make it the biggest publicly
traded U.S. hospital company, and Varietal Distribution Merger Sub
Inc. are among borrowers seeking to raise at least $47.4 billion
of bonds in the U.S., according to data compiled by Bloomberg.

Companies have sold $17.3 billion of bonds this week,
compared with $31.5 billion in the same period last week. Sales
year-to-date total $590.9 billion, up from $519 billion a year
ago.


Read more at Bloomberg Bonds News

Pound May Extend Drop Versus Dollar on Speculation of Lower Sales Growth

(Bloomberg) -- The pound may drop for a second day
versus the dollar on speculation a report showing retail sales
growth slowed last month will reinforce speculation the Bank of
England won't need to raise interest rates further.

Sales expansion in Europe's second largest economy probably
slowed to an annual 3.8 percent from 4.2 percent in April,
according to economists in a Bloomberg News survey. The U.K.
currency may also be hurt after an industry survey showed house
prices rose at the weakest pace in a year in May.


Read more at Bloomberg Currencies News