Coffee Climbs to One-Week High on Shrinking Inventories in U.S., Vietnam

(Bloomberg) -- Coffee rose to a one-week high in
New York as shrinking inventories in the U.S. and Vietnam, the
world's second-largest producer, revived speculation that demand
will exceed output this year.

Stockpiles of raw, unroasted coffee in the U.S. fell by
92,242 bags, or 1.6 percent, to 5.68 million bags in May from
April, the first decline this year, the New York-based Green
Coffee Association said June 15. Tight supplies of robusta
coffee from Vietnam, the biggest producer of that variety, have
pushed futures traded in London to the highest since 1998.


Read more at Bloomberg Commodities News

Canada's Dollar Falls in Almost 3 Weeks on Speculation of Lower Inflation

(Bloomberg) -- The Canadian dollar fell to an
almost three-week low on speculation inflation may have eased,
reducing the likelihood the Bank of Canada will increase
borrowing costs twice this year.

``There's a bit of concern that the consumer prices may be
weaker than expected,'' said Matthew Strauss, senior currency
strategist at RBC Capital Markets Inc. in Toronto, a unit of
Canada's biggest bank by assets. ``The Canadian dollar may be
topped for the time being.''


Read more at Bloomberg Currencies News

Marvel in deal with Fruit of the Loom, Crocs

(Reuters) - The company signed a new multi-year licensing agreement with Fruit of the Loom, a unit of Berkshire Hathaway Inc. , to make children's underwear lines based on its popular characters.




Fruit of the Loom will initially create products based on upcoming Marvel Studios feature films 'Iron Man' and 'The Incredible Hulk.'


Read more at Reuters.com Business News

European Stocks Decline; Siemens and Telefonica Shares Lead the Retreat

(Bloomberg) -- European stocks fell, led by Siemens
AG and Telefonica SA.

The Stoxx 600 lost 0.3 percent to 398.09 as of 3:13 p.m. in
London. The Stoxx 50 also fell 0.3 percent. The Euro Stoxx 50, a
measure for the nations sharing the euro, retreated 0.4 percent.


Read more at Bloomberg Stocks News

Mexican stocks rise, led by America Movil gains

(Reuters) - The benchmark 10-year government peso bond
gained 0.253 point in price, pushing its yield down 4 basis
points to 7.62 percent.




Shares of America Movil , one of Latin America's
most closely watched companies, led the rally, advancing 0.96
percent to 34.69 pesos. Its New York traded shares rose
0.52 percent to $64.26.


Read more at Reuters.com Bonds News

TREASURIES-Bonds dip on profit-taking, mortgage hedging

(Reuters) - Also, dealers were said to be selling Treasuries to lock in
the yields on an expected flood of corporate bonds for sale
this week, according to traders.




Earlier, Treasury bond prices rose on follow-through buying
in the wake of Friday's tame core inflation data. They also
enjoyed safe-haven bids on renewed worries about problems in
subprime mortgages amid reports of heavy selling by a mortgage
hedge fund, analysts said.


Read more at Reuters.com Bonds News

Treasury 10-Year Yield Trades Near Five-Year High Before Housing Reports

(Bloomberg) -- Treasuries were little changed, with
yields near the highest in five years, before U.S. reports
forecast to show the housing market is slowing down.

An industry report today will show sentiment among home
builders matched the lowest since 1991, and a separate report
tomorrow will signal housing construction fell to a four-month
low, according to Bloomberg surveys of economists.


Read more at Bloomberg Bonds News

U.S. Stocks Decline as Bond Yields Rise; Exelon Leads Utility Shares Lower

(Bloomberg) -- U.S. stocks fell for the first time
in four days after an advance in bond yields sent shares of
utilities lower.

The Standard & Poor's 500 Index declined 1.94, or 0.1
percent, to 1530.97 as of 10:17 p.m. in New York. The Dow Jones
Industrial Average slipped 3.9 to 13,635.58. The Nasdaq
Composite Index retreated 5.88, or 0.2 percent, to 2620.83.


Read more at Bloomberg Stocks News

Nymex Gas Falls on Forecasts for Cooler Weather in U.S. Northeast, Midwest

(Bloomberg) -- Natural gas fell in New York for the
first time in three trading sessions on forecasts that lower
temperatures in the Northeast and Midwest would reduce demand for
electricity from gas-fired generators.

Temperatures will push into the 90s along the Eastern
Seaboard today and tomorrow, including New York, the most
populous U.S. city, then return to normal levels later this week,
according to AccuWeather.com of State College, Pennsylvania.


Read more at Bloomberg Energy News

Fannie Mae to sell $3 bln bills on Wednesday

(Reuters) - Bids will be accepted from authorized dealers from 9:00
a.m. , until 9:45 a.m. .




Settlement is June 20-21.


Read more at Reuters.com Bonds News

Nigerian unions to begin general strike Weds

(Reuters) - Nigerian unions will start an indefinite general strike in Africa's top oil producer on Wednesday to protest against rising prices and privatisations, the umbrella union body said on Monday.

The Nigeria Labour Congress's (NLC) top committee set the strike start after the expiry on Monday of an ultimatum to the government to reverse a fuel price increase, a doubling of value-added tax and the sale of two big oil refineries.


Read more at Reuters Africa

Freddie Mac sells $4.5 bln in bills

(Reuters) - Settlement is June 19.




Read more at Reuters.com Bonds News

Oil Falls From Nine-Month High on Expectation of U.S. Gasoline Supply Gain

(Bloomberg) -- Crude oil fell from a nine-month high
in New York on expectations that U.S. fuel stockpiles increased
last week.

Gasoline supplies rose 1.5 million barrels in the week ended
June 15, according to the median of seven responses in a
Bloomberg News survey. Analysts were split over whether crude-oil
inventories rose or fell last week. Crude-oil prices often follow
gasoline during the driving season, which lasts from Memorial Day
weekend in late May to Labor Day in early September.


Read more at Bloomberg Energy News

Copper Futures Gain for 4th Straight Session as Strikes Threaten Supplies

(Bloomberg) -- Copper futures rose for the fourth
straight session in New York as miners threatened strikes in
major producers including Chile, the world's biggest source of
the metal.

Contract workers at Codelco, the world's biggest copper
producer, plan to walk off the job on June 20 and employees at
the company's largest division may set up blockades to pressure
management to boost bonuses. Copper rose to a record in May 2006,
partly because labor unrest disrupted supplies.


Read more at Bloomberg Commodities News

Wendy's to consider sale

(Reuters) - JP Morgan, as lead adviser, and Lehman Brothers Inc. as
co-adviser, will conduct the sale exploration process, the
company said, adding no specific timetable for the process was
set.







Read more at Reuters.com Business News

TREASURIES-Bonds gain before U.S. home builder data

(Reuters) - NEW YORK, June 18 - U.S. Treasury debt prices
were mostly higher on Monday ahead of data on U.S. home builder
sentiment that could reinforce the view the housing sector
remains a drag on economic growth.




The bond market also enjoyed safe-haven bids on renewed
worries about problems in subprime mortgages amid reports of
heavy selling by a mortgage hedge fund, analysts said.


Read more at Reuters.com Bonds News

Precision Castparts acquires Caledonian Alloys Group

(Reuters) - The acquisition, which is expected to be completed in the
second quarter of fiscal 2008, will immediately add to
earnings, the company said in a statement.





Read more at Reuters.com Mergers News

Brazilian Economists Raise Currency Appreciation Forecasts for 2007, 2008

(Bloomberg) -- Brazilian economists increased their
year-end currency forecast as rising commodities prices and
attractive local interest rates help sustain dollar inflows, a
central bank survey said.

Economists forecast the Brazilian real will trade at 1.93
per U.S. dollar by year-end from an estimate of 1.95 real per
dollar a week earlier, according to the median estimate of about
100 economists in a June 15 central bank survey published today.


Read more at Bloomberg Currencies News

European Chemical Stocks, ICI Advance; Merck KGaA, Pearson Pace Declines

(Bloomberg) -- European chemical stocks rallied
after Akzo Nobel NV made an offer for Imperial Chemical
Industries Plc. Shares of ICI surged 16 percent.

Merck KGaA dropped the most in two months before
GlaxoSmithKline Plc releases details on a lung-cancer vaccine.
Shares of Tullow Oil Plc surged to an all-time high after the
explorer said it discovered oil. Pearson Plc fell after the Wall
Street Journal said the company was in talks with General
Electric Co. to make a joint offer for Dow Jones & Co.


Read more at Bloomberg Stocks News

Blockbuster favors Blu-ray DVDs to HD DVD

(Reuters) - Of some 8,000 stores worldwide, about 250 of them carry both formats, and Blu-ray rentals are "significantly outpacing HD DVD rentals," the company said in a statement.




Blockbuster rivals such as Movie Gallery Inc. and online rental company Netflix Inc. also offer both Blu-ray and HD DVD formats.


Read more at Reuters.com Business News

UPDATE 1-IMF strengthens monitoring of FX policies-Rato

(Reuters) - MONTREAL, June 18 - The International Monetary
Fund has approved changes that strengthens the way it monitors
the foreign exchange policies of member countries, IMF Managing
Director Rodrigo Rato said on Monday.




"The new decision reflects current best practice in our
work of monitoring members' exchange rate policies and domestic
economic policies," Rato said in remarks prepared for delivery
at an economic conference in Montreal.


Read more at Reuters.com Bonds News

Cemex, Embraer, Gol, Grupo Mexico and GVT: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil 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

UPDATE 1-Finish Line to buy Genesco for $1.5 bln in cash

(Reuters) - June 18 - Finish Line Inc. said it agreed to acquire larger rival Genesco Inc. for $54.50 per share, or about $1.5 billion, in cash to enhance its footwear and apparel portfolio.



The offer price represents a premium of about 9.9 percent over Genesco's Friday stock closing price of $49.60 on the New York Stock Exchange.


Read more at Reuters.com Mergers News

Oil falls from 10-month high, supply risks support

(Reuters) - Oil fell below $71 a barrel on Monday after rising to a 10-month high last week on concern about low fuel supplies in top fuel consumer the United States.

Threats to oil supplies in Nigeria, the world's eighth-largest oil exporter, were likely to limit the decline for prices, analysts said. A general strike is due to start in Nigeria on Wednesday.


Read more at Reuters Africa

UPDATE 1-Parmalat settles 72 mln euros in claims with banks

(Reuters) - Parmalat , which has since restructured and relisted
on the Milan bourse, said in a statement on Monday it had
settled all outstanding damage claims with Merrill Lynch
for 29 million euros.




It said it had also settled revocatory claims for 35 million
euros with Italy's Banca Monte Parma and 8 million euros with
ING of the Netherlands.


Read more at Reuters.com Bonds News

European Stocks Fall, Led by Rio Tinto, Telefonica, Merck KGaA; ICI Climbs

(Bloomberg) -- European stocks fell on speculation
gains last week were overdone given prospects for earnings growth.

Rio Tinto Group and Telefonica SM led declines by mining and
telephone stocks, which have outperformed the region so far this
quarter. Merck KGaA dropped the most in two months before
GlaxoSmithKline Plc releases details on a lung-cancer vaccine.
Imperial Chemical Industries Plc surged 16 percent, sending the
Dow Jones Stoxx 600 Chemicals Index to a record, after Akzo Nobel
NV made an offer for the company.


Read more at Bloomberg Stocks News

European Yields Hold Near Six-Year High on Policy Maker's Hawkish Remarks

(Bloomberg) -- European two-year note yields held
near the highest in more than six years as European Central Bank
official Jose Manuel Gonzalez-Paramo said monetary policy was
still accommodative, indicating interest rates in the region have
further to rise.

The drop in benchmark debt also sent 10-year bund yields to
near their strongest since August 2002 as traders add to bets the
ECB will lift borrowing costs twice more this year. Germany's
Bundesbank said in a report today first-quarter growth in
Europe's largest economy was ``remarkable.''


Read more at Bloomberg Bonds News

Wall Street's profit undertow: drugs and anxiety

(Reuters) - While record bonuses make some Wall Street bankers feel invincible, others become emotional wrecks from pressure to perform and some hit rock bottom, experts say.




Harris Stratyner, a psychologist at Caron's New York Recovery Center, said some executives he treats are experimenting with cocaine, opiate-based drugs, Ecstasy and marijuana, as well as abusing alcohol.


Read more at Reuters.com Bonds News

Community Banks to restate Q1 results

(Reuters) - The bank holding company had earlier reported the amount as
reduction in opening retained earnings, it said in a
statement.





Read more at Reuters.com Market News

Palm Oil Futures Rise on Supply Concern as Indonesia Raises Export Taxes

(Bloomberg) -- Palm oil futures rose on concern
that supply of the vegetable oil on international markets may
lag behind demand after Indonesia increased export taxes on
crude and refined palm oil products.

Indonesia, which with Malaysia controls almost 90 percent
of world palm oil output, will raise crude palm oil exports to
6.5 percent of a base price to be decided by the trade ministry,
up from 1.5 percent, top economics minister Boediono said in
Jakarta on June 15. The new tax rates, aimed at boosting
domestic supply and curbing price gains, took effect immediately.


Read more at Bloomberg Commodities News

Ex-Brocade Chief's Trial, Test for Options Fraud, May Spark Indictments

(Bloomberg) -- Prosecutors' pursuit of executives
for backdating stock options gets its first courtroom test today
as the former chief executive officer of Brocade Communications
Inc. goes on trial in federal court in San Francisco.

Gregory Reyes, 44, was charged in July with securities fraud
and conspiracy for misleading investors by backdating stock
option grants, altering company documents and causing Brocade, a
network equipment maker, to report false financial results.


Read more at Bloomberg Exclusive News

California, Marathon Oil Deals Lead $10 Billion of U.S. Tax-Exempt Sales

(Bloomberg) -- California and Marathon Oil Corp.
will borrow a total of $3.5 billion in the largest tax-exempt
bond sales this week, leading $10 billion of long-term debt
offerings by U.S. state and local governments.

California, marketing a $2.5 billion general obligation
issue, is first giving individuals the chance to buy the bonds
today and tomorrow. Citigroup Inc. will set prices and rates on
the bonds for institutions such as mutual funds and insurers at
midweek. Marathon Oil is raising $1 billion through a program to
boost Louisiana's economy after Hurricane Katrina devastated
parts of the state. Morgan Stanley is managing the sale.


Read more at Bloomberg Bonds News

Porter Bancorp to buy Ohio County Bancshares

(Reuters) - The deal, likely to close in the late third or early fourth
quarter, is expected to add to earnings in the first year,
Porter added.





Read more at Reuters.com Mergers News

Oil Falls From Near Nine-Month High Amid Signs Nigerian Violence May Ease

(Bloomberg) -- Crude oil fell from a nine-month high
in New York amid some signs violence in Nigeria will ease,
allowing the country to restore some lost production.

Eni SpA said militants attacked one of its flow stations in
Nigeria yesterday, although it couldn't say immediately whether the
attack had any effect on production. Last week, Mujahid Dokubu
Asari, a Nigerian militia leader arrested on treason charges, was
freed by the high court on health grounds.


Read more at Bloomberg Energy News

Qatar orders worth $17 bln boost Airbus book

(Reuters) - The deals include confirmation of a previously announced order for 80 new Airbus A350 XWB models due from 2013, worth $16 billion at list prices, and three additional A380s worth almost $1 billion in total.




Qatar had already ordered 3 of the A380 superjumbo aircraft with options for another two.


Read more at Reuters.com Business News

Elbit Medical to sell 530 mln shekels of bonds

(Reuters) - It did not offer any further details on the offering.




Shares of Elbit Medical, which invests in shopping malls and
hotels as well as ultrasound systems, were down 0.2 percent at
midsession in Tel Aviv, against a loss of 0.6 percent on the
broader bourse.



Read more at Reuters.com Bonds News

U.S. Stock-Index Futures Gain on Acquisitions; Alcoa, Gilead Shares Rise

(Bloomberg) -- U.S. stock-index futures rose after a
report that BHP Billiton Ltd., the world's largest mining
company, may bid for Alcoa Inc., the No. 1 aluminum maker.

Shares of Alcoa jumped in Europe after the London-based
Times said BHP may consider a $40 billion takeover. Chicago Board
of Trade gained after shareholders of the second-largest futures
market were told they may get better offers from two suitors.


Read more at Bloomberg Stocks News

Persian Gulf Crude Oil Tanker Rates May Rise as Producers Reveal Programs

(Bloomberg) -- The cost of shipping Middle East
crude to Asia on supertankers may extend four days of gains as
oil-producing nations tell companies when to have vessels in
place to load at Persian Gulf ports.

Saudi Arabia, the world's biggest oil producer, Iran, and
the United Arab Emirates this week may release port-loading
schedules for July crude shipments, stoking demand for tankers,
said Per Mansson, a tanker broker for Nor Ocean Stockholm AB, in
an e-mailed note today.


Read more at Bloomberg Energy News

Les Echos journalists caution Pearson over LVMH

(Reuters) - They said they had decided to write to Pearson as
speculation about the sale of the paper had become ever more
recurring and detailed. One report on Friday said Arnault had
shown interest in buying Les Echos.




Pearson, owner of the Financial Times and Penguin publishing
house, and LVMH were not immediately available for comment.


Read more at Reuters.com Mergers News

Wall St set to extend gains as rate outlook shifts

(Reuters) - U.S. stocks rose for a third straight day on Friday, helping the Standard & Poor's 500 rack up its best weekly gain in two months, after a government report showed core consumer inflation picked up at a slower pace than expected in May.




U.S. interest rate futures <0#ED:> show investors rule out a rise in U.S. interest rates for at least another two years.


Read more at Reuters.com Hot Stocks News

Swiss Franc Declines to Record Versus Euro as Rate Gap Spurs Carry Trades

(Bloomberg) -- The Swiss franc dropped to a record
low versus the euro as speculation Switzerland's policy makers
will lag behind the European Central Bank in raising interest
rates prompted investors to pursue so-called carry trades.

The franc fell with the yen as investors favored higher
yielding currencies from the New Zealand dollar to the South
African rand. The currency used by 13 European nations benefited
as investors borrowed in francs to fund investments in the higher
yielding euro, which last week had the biggest weekly gain versus
the yen since the start of April.


Read more at Bloomberg Currencies News

Bank of England Raises Concern About Lenders Easing Credit Conditions

(Bloomberg) -- The Bank of England said it's
concerned that lenders are easing credit restrictions as financial
companies compete to benefit from the fastest global growth in
more than three decades.

``Lenders reportedly continued to compete aggressively for
business on non-price terms, driving lending standards down
further,'' the U.K. central bank said in its quarterly bulletin
today. As a result of lower standards, the quality of covenants,
loan conditions that give lenders added protection, is also
deteriorating, the bank said.


Read more at Bloomberg Bonds News

Miner Metorex says in talks, shares jump

(Reuters) - South African junior mining firm Metorex Ltd said on Monday it was in talks, sending its shares surging.

Metorex said in a statement to the stock exchange it had entered into talks that may have an effect on its share price, giving no further details.


Read more at Reuters Africa

Boeing gets 6 GECAS orders for 777 freighters

(Reuters) - The first 777 freighter will be delivered in the fourth quarter of 2008, Boeing said at the Paris air show.



The engines for the planes, to be built by GE's aviation unit, are worth $240 million.


Read more at Reuters.com Business News

Anglo to buy more mine assets

(Reuters) - The world's third biggest mining group Anglo American will expand production and buy more assets to meet strong demand for raw materials from China and India, its chairman said on Monday.

Anglo, traditionally more conservative than sector peers such as Xstrata, said that in a rapidly consolidating mining sector, it would be a buyer rather than one of the companies that is bought.


Read more at Reuters Africa

German DAX Benchmark Rises for a Fourth Day, Led by Volkswagen, Henkel

(Bloomberg) -- Germany's benchmark DAX Index gained
for a fourth day, led by Volkswagen AG after the carmaker said it
will raise the number of workers in its Auto 5000 plant in
Wolfsburg, Germany. Henkel KGaA and BASF AG also increased.

The DAX added 54.06, or 0.7 percent, to 8084.70 at 9:46 a.m.
in Frankfurt. DAX futures expiring in September climbed 0.8
percent to 8173. The HDAX Index of the country's 110 biggest
companies increased 0.7 percent.


Read more at Bloomberg Stocks News

U.K. Pound Gains Before Bank of England Minutes Back Case for Higher Rates

(Bloomberg) -- The pound rose to the highest in more
than a week against the dollar on speculation the minutes of the
Bank of England's last meeting will reinforce the case for higher
interest rates.

Since the June 7 meeting, Governor Mervyn King and policy
maker Paul Tucker have again expressed concern about inflation,
underpinning expectations of an increase in borrowing costs. The
BOE will release the minutes on June 20. The pound also gained as
accelerating house prices added to the case for higher rates.


Read more at Bloomberg Currencies News

Shanghai copper up 2.9 percent, supply woes support

(Reuters) - Shanghai copper rose almost 3 percent on Monday, with the market shrugging off warnings from China that it will take further steps to cool the economy, and instead focused on threats to supply and limited world stocks.

The most-active August copper contract on the Shanghai Futures Exchange rose 2.9 percent to 64,930 yuan a tonne at the close, from 63,130 yuan on Friday.


Read more at Reuters Africa

German Utilities Say Cooling Limits Will Cut Power Production Tomorrow

(Bloomberg) -- German utilities said power plant
availability in Germany will be reduced tomorrow because of
cooling-water restrictions.

Capacity at plants in Europe's largest energy market will be
cut by 515 megawatts, operators said today in a joint statement
on the Web site of the European Energy Exchange. They didn't say
which plants are affected.


Read more at Bloomberg Energy News

Swiss Lawmakers Will Vote Today to Tighten `Toothless' Insider-Trading Law

(Bloomberg) -- Swiss upper-house lawmakers will vote
today in favor of closing a legal loophole that allows insider
trading on advance knowledge of company earnings.

Switzerland's penal code requires jail terms or fines for
executives, directors or auditors who capitalize on knowing what
the rest of the market doesn't know. However, it limits such cases
to a planned sale of new shares, a merger or ``circumstances of
comparable significance.''


Read more at Bloomberg Stocks News

Anglo Platinum Shuts Down Biggest Mine for Week After 12 Workers Killed

(Bloomberg) -- Anglo Platinum Ltd., the world's
largest platinum producer, will halt production from its biggest
mine for as long as seven days to improve safety after 12 miners
were killed in 2007.

Five workers were killed at its Rustenburg mine in the past
two weeks, the Johannesburg-based company said today in a
statement. Production will drop by between 10,000 and 15,000
ounces this year as a result of the closure, it added.


Read more at Bloomberg Emerging Markets News

Germany's DAX Index Increases; Henkel, Metro, Linde Lead Advance

(Bloomberg) -- German stocks rose, led by Henkel
KGaA, Metro AG and Linde AG gained.

The benchmark DAX Index added 17.60, or 0.2 percent, to
8048.24 as of 9:11 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies increased 0.2 percent.


Read more at Bloomberg Stocks News

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

(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 Emerging Markets News

BofA private bank to get US Trust name-NYT

(Reuters) - Using U.S. Trust's name in its branding campaign may help Bank of America overcome its middle-class image among high-net worth clients, according to the Times report.




Bank of America did not immediately return a call seeking comment.


Read more at Reuters.com Mergers News

BHP Billiton to take more action on climate change

(Reuters) - BHP Billiton Ltd./Plc., the world's biggest mining group, said on Monday it plans to step up action to help tackle levels of greenhouse gas emissions.

BHP said it would commit US$300 million over the next five years to support the development of low emissions technology and to encourage emissions abatement.


Read more at Reuters Africa