UPDATE 2-Home Depot in $10 bln deal to sell unit--sources

(Reuters) - NEW YORK, June 19 - Home Depot Inc. has
agreed to sell its supply division to three private equity
firms, sources said on Tuesday, in a roughly $10 billion deal
that unloads a business the home-improvement retailer's former
chief executive worked to expand.




Bain Capital, Carlyle Group and Clayton, Dubilier
& Rice won the auction and were finalizing the deal early on
Tuesday, sources close to the process told Reuters.


Read more at Reuters.com Mergers News

Ryanair Cuts Fares, Says Ticket Prices Lower Than Forecast; Shares Slide

(Bloomberg) -- Ryanair Holdings Plc Chief Executive
Officer Michael O'Leary predicted a ``big downturn'' for the
discount-airline industry and said the carrier's average ticket
prices will be lower this year.

The stock fell as much as 5.2 percent, its biggest decline
since June 5, when the airline said profit would grow at the
slowest rate in four years. Ryanair cut prices on 3 million seats
at a cost of as much as 45 million pounds ($89.4 million) over
three months, O'Leary said today at a press conference in London.


Read more at Bloomberg Exclusive News

Axtel, Cemex, Grupo Mexico and Telefonos de Mexico: Mexican Equity Movers

(Bloomberg) -- Mexico's main stock index fell for the
first time in five days, led by cement maker Cemex SAB.

The Bolsa index retreated 285.03, or 0.9 percent, to 31,933.14
at 10:14 a.m. New York time.


Read more at Bloomberg Stocks News

AT&T says 40 pct of iPhone inquirers not its clients

(Reuters) - CHICAGO, June 19 - About 40 percent of people seeking information about Apple Inc.'s soon-to-be-released iPhone are not AT&T Inc.'s wireless customers, the phone company's Chief Executive Randall Stephenson said on Tuesday.



AT&T has an exclusive agreement to sell the eagerly anticipated device that combines a cell phone with the popular iPod digital music player.


Read more at Reuters.com Market News

US STOCKS-Indexes open down slightly; Best Buy disappoints

(Reuters) - The Dow Jones industrial average was down 17.88
points, or 0.13 percent, at 13,595.10. The Standard & Poor's
500 Index was down 1.44 points, or 0.09 percent, at
1,529.61. The Nasdaq Composite Index was down 6.52
points, or 0.25 percent, at 2,620.08.




Read more at Reuters.com Bonds News

Sallie Mae says waiting period for buyout ends

(Reuters) - The transaction is expected to close late this year. Shares
of Sallie Mae rose 69 cents to $57.80 in morning trading on the
New York Stock Exchange.




Read more at Reuters.com Bonds News

UPDATE 1-U.S. May housing starts fall 2.1 pct, permits up

(Reuters) - The Commerce Department said housing starts set an annual
pace of 1.474 million units in May compared with a 1.506
million unit pace in April. Economists had forecast May housing
starts to drop sharply to a 1.480 million unit pace from the
1.528 million rate originally reported for April last month.




Building permits, which signal future construction plans,
rose in May by 3.0 percent to a pace of 1.501 million units.
Economists had been expecting the permits to hit a 1.471
million unit rate. Permits for single-family homes fell 1.8
percent to their lowest level since July 1997 but permits for
multi-family units jumped 16.5 percent.


Read more at Reuters.com Economic News

Oil Falls From a Nine-Month High on Forecast for U.S. Fuel-Supply Increase

(Bloomberg) -- Crude oil fell from a nine-month high
on speculation that an Energy Department report tomorrow will
show U.S. gasoline inventories rose for a seventh week.

Gasoline stockpiles increased 1.44 million barrels in the
week ended June 15, according to the median of responses by 14
analysts surveyed by Bloomberg News. Refiners probably increased
operating rates for the first time in four weeks, the survey
showed. Crude-oil prices often follow gasoline during the driving
season, which lasts from late May to early September.


Read more at Bloomberg Commodities News

Best Buy, Color Kinetics, Expedia, Microchip, Taser: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:30 a.m. New York time.

Best Buy Co. (BBY US) slid $2.08, or 4.3 percent, to $45.93.
The largest U.S. consumer-electronics chain said profit fell 18
percent on sales of less profitable laptop computers and lower
prices for flat-panel televisions. Net income dropped to 39 cents
a share for the first quarter from 47 cents a year ago. Analysts
estimated Best Buy would earn 50 cents a share. The company also
cut its annual profit forecast.


Read more at Bloomberg Stocks News

Brazil to Offer More Real-Denominated Bonds Due 2028 in Foreign Markets

(Bloomberg) -- Brazil plans to sell more of its
real-denominated bonds due in 2028 in international markets.

The Treasury said in a statement it plans to sell the 10 1/4
percent bonds in the U.S. and European markets and may extend the
offer to Asian markets. The Treasury didn't say how much it plans
to sell.


Read more at Bloomberg Bonds News

Amex sale of private bank "in final stages"-source

(Reuters) - ZURICH, June 19 - American Express Co is now in the final stages of negotiating the sale of its private and transaction banking units to another bank, a source familiar with the situation told Reuters.



The source did not know who would get the businesses but said of the several potentially succesful bidders it was most likely to be a large global financial institution, although a medium-sized buyer could also clinch the deal.


Read more at Reuters.com Mergers News

Treasuries Little Changed as Report Shows Housing Starts Fell Last Month

(Bloomberg) -- U.S. Treasuries rose for a third
straight day after a government report showed home construction
slowed to a four-month low in May.

The consecutive declines in yields on benchmark 10-year
notes is the longest streak in two months. Yields on the
securities had touched the highest in five-years last week as
investors pared expectations for the Federal Reserve to reduce
interest rates this year.


Read more at Bloomberg Bonds News

BEA Systems, Best Buy, Color Kinetics, Lear, Taser: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names. Share prices are as of 8:50 a.m. New York time.

Abraxis Inc. (ABAX US): The maker of blood analysis systems
said Chief Operating Officer Robert B. Milder is retiring
effective June 29. Shares rose 31 cents to $23.06 in regular
trading yesterday.


Read more at Bloomberg Stocks News

Airbus gives bullish orders forecast

(Reuters) - The figure would be down from 790 net orders in 2006 when Airbus surrendered leadership of the global order race to Boeing and saw its market share fall to 43 percent, following delays in building its A380 superjumbo and designing the mid-sized A350.




It is the first 2007 orders forecast issued by Airbus -- it usually predicts only deliveries which are forecast at 440-450 this year, leaving Airbus on top of Boeing -- but reflects the firm's growing optimism as it recovers from a shaky start.


Read more at Reuters.com Business News

Blackstone to present Bear Stearns fund rescue plan

(Reuters) - In the Tuesday meeting, creditors including Merrill Lynch
, Citigroup and JPMorgan Chase & Co. will
be briefed on a plan to keep the fund going, including a $500
million capital infusion and a year-long freeze on collateral
calls. Citi would lead the recapitalization.




Blackstone [BG.UL], the private-equity investment giant
that is also an active restructuring adviser, and Merrill
declined to comment. Officials at Bear Stearns and JPMorgan
were not immediately available to comment.


Read more at Reuters.com Bonds News

TREASURIES-Bonds steady after home starts data in line

(Reuters) - NEW YORK, June 19 - U.S. government debt prices
were steady on Tuesday, after data on housing starts that were
roughly in line with forecasts supported the view the housing
sector would remain an economic drag.




Government data showed housing starts decreased 2.1 percent
to an annualized rate of 1.474 million units in May, versus an
expected 1.480 million units and a downwardly revised 1.506
million units in April.


Read more at Reuters.com Bonds News

Home Depot in $10 bln deal to sell unit: sources

(Reuters) - Carlyle could not immediately be reached. All other companies declined to comment.




Read more at Reuters.com Bonds News

Crude Oil Falls After Reaching Nine-Month High on Nigeria Strike Threat

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York.

Crude oil for July delivery fell as much as 39 cents to $68.70
a barrel in after-hours electronic trading on the New York
Mercantile Exchange The contract, which expires tomorrow, traded at
$68.84 at 1:36 a.m. in London. The more actively traded August
contract was down 30 cents at $69.32 a barrel.


Read more at Bloomberg Energy News

De Beers launches wage talks, offers 7 pct rise

(Reuters) - The South African unit of De Beers, the world's biggest diamond producer, has launched wage negotiations, offering workers a 7 percent pay rise, the firm said on Tuesday.

The negotiations will cover around 3,500 employees out of a total of 6,100 at the South African unit, De Beers Consolidated Mines spokesman Tom Tweedy said.


Read more at Reuters Africa

Best Buy posts disappointing profit

(Reuters) - Best Buy reported net income of $192 million, or 39 cents a share for its fiscal first quarter that ended June 2, from $234 million, or 47 cents per share, a year earlier.




Analysts, on average, had been expecting it to earn 50 cents per share, according to Reuters Estimates.


Read more at Reuters.com Market News

French Stocks Including Carrefour, Air France Decline While Renault Rises

(Bloomberg) -- French stocks including Carrefour SA
and Air France-KLM Group declined while Renault SA advanced.

The CAC 40 Index slid 10.17, or less than 0.2 percent, to
6076.98 at 2:39 p.m. The SBF 120 Index slipped 0.2 percent.


Read more at Bloomberg Stocks News

US STOCKS-Futures slip before housing data, Yahoo higher

(Reuters) - Shares of Internet media company Yahoo Inc. traded
up more than 5 percent in Europe, however, so a bounce in
technology could cushion the market.




Expedia Inc. could also lend support with news the
online travel company planned to buy back up to $3.5 billion of
its stock. Its stock shot up 13.7 percent in electronic trade
to $29.


Read more at Reuters.com Bonds News

Bonds flat to lower before home starts data

(Reuters) - The housing industry has remained an economic weak spot, given the lingering effects of the subprime mortgage crisis. The recent jump in mortgage rates could deepen the subprime fallout as measured by the spikes in loan defaults and home foreclosures, analysts said.




Signs of persistent weakness in housing could revive hopes that the Federal Reserve could still cut rates later this year. There have been growing concerns in the bond market that improvement in other areas of the U.S. economy could prompt the Fed to leave interest rates unchanged, analysts said.


Read more at Reuters.com Bonds News

Norilsk CEO expects LionOre deal by June 28

(Reuters) - Norilsk Nickel expects to complete the acquisition of LionOre Mining International Ltd. by June 28, when a rival offer by Xstrata Plc. is due to expire, the company's chief executive said on Tuesday.

Denis Morozov told a conference he considered it unlikely Xstrata would match Norilsk's C$6.8 billion bid for the world's 10th-largest nickel producer.


Read more at Reuters Africa

OECD jobs report shows darker side of globalisation

(Reuters) - Globalisation is good, but people are earning less of the wealth generated by economic growth and integration as the decades go by, the OECD said on Tuesday.

In a report on jobs policies, the Organisation for Economic Co-operation and Development remained faithful to its mandate as a promoter of free markets, trade and investment, but said it was time for a reality check on globalisation's darker side too.


Read more at Reuters Africa

GLOBAL MARKETS-Euro, stocks slip as ZEW spoils risk party

(Reuters) - The ZEW survey showed economic sentiment in the euro zone's
biggest economy fell in June after rising for six months. While
this did not materially change near-term expectations for a euro
zone rate hike this year, the surprise drop dented the mood.




"The ZEW spoilt the party. The data wasn't dramatically bad
but it was weaker than expected. With euro zone data we've
become accustomed to getting stronger readings, so a weak
reading is bad news," said Audrey Childe-Freeman, economist at
CIBC World Markets.


Read more at Reuters.com Economic News

Carbon Emission Permits Fall to Month Low After Germany Proposes Auctions

(Bloomberg) -- European Union emission permits fell
to their lowest in more than a month as Germany proposed to hold
auctions by the end of this year and traders sold permits after
prices gained more than 75 percent since February.

Emission permits for delivery in December 2008 dropped as
much as 1.30 euros, or 5.9 percent, to 20.60 euros ($28) a
metric ton, according to the European Climate Exchange in
Amsterdam. That's the lowest price for the benchmark permits
since May 15. They were at 21.20 euros at 12:56 p.m. local time.
The contract sank to a record low of 11.80 euros on Feb 20.


Read more at Bloomberg Energy News

UPDATE 1-GE to buy stake in Regency Energy for $603 mln

(Reuters) - Under the deal with HM Capital Partners LLC, GE Energy
Financial Services has acquired an estimated 37 percent of
Regency's limited-partner units outstanding, the Journal said.




The transaction also gives GE Energy Financial Services a
91 percent stake in Regency's general partner, meaning GE will
have operational control of the company.


Read more at Reuters.com Mergers News

Petrobras Expects to Continue Negotiations With Labor Unions, Avoid Strike

(Bloomberg) -- Petroleo Brasileiro SA, Brazil's state-
controlled oil company, wants to continue talks with its workers to
avoid a strike that unions say would aim to reduce production.

``We expect the talks with the unions will continue, and we
will try to reach a negotiated solution with the workers,''
Petrobras Chief Executive Officer Jose Sergio Gabrielli said in an
interview today. ``We expect the strike won't take place.''


Read more at Bloomberg Emerging Markets News

China's Shares Rise to Record on New Investor Inflow; Youngor Leads Gains

(Bloomberg) -- China's stocks rose for the 10th day
in the past 11, pushing the benchmark CSI 300 Index to a record
on expectations investors will keep shifting money into equities
from bank deposits. Youngor Group Co. gained.

``Liquidity is still strong and that will continue to push
shares higher,'' said Yan Ji, an investment manager at HSBC
Jintrust Fund Management Co. in Shanghai, which manages about
$517 million.


Read more at Bloomberg Stocks News

Boeing dismisses Airbus order blitz

(Reuters) - European planemaker Airbus hit the ground running at the start of the week long Le Bourget air show with firm orders for 219 planes including more than 114 of its revamped A350 model, which still remains far behind sales of the 787.




Boeing often accuses Airbus of storing up orders to gain publicity at air shows and of confusing the real picture by mixing up firm and provisional orders. Airbus says its announcements schedule is in the hands of its customers.


Read more at Reuters.com Business News

Bristol breast cancer drug granted priority review

(Reuters) - By Bill Berkrot



NEW YORK, June 19 - U.S. health regulators have granted priority review for Bristol-Myers Squibb Co.'s experimental breast cancer drug ixabepilone, and an approval decision on the medicine could come by late October, the company said on Tuesday.


Read more at Reuters.com Government Filings News

US STOCKS-Futures dip ahead of housing data, Yahoo up

(Reuters) - Shares of Internet media company Yahoo Inc. traded
up more than 5 percent in Europe, however, so a bounce in
technology could cushion the market.




Data on U.S. housing starts is due before the bell, a day
after a survey showed sentiment among U.S. home builders fell
in June to the lowest since February 1991.


Read more at Reuters.com Bonds News

South Africa maize falls more than two percent

(Reuters) - South Africa's benchmark maize contract fell by more than two percent on Tuesday, in tandem with its U.S. equivalent and a firmer rand.

July white maize ended 2.46 percent down at 1,787 rand a tonne, reversing some of the gains made recently.


Read more at Reuters Africa

Coffee Gains in London as Roasters Build Stocks, Absorb Indonesian Supply

(Bloomberg) -- Robusta coffee futures rose for a
third trading session in London on speculation that exports from
Indonesia won't be sufficient to alleviate a supply squeeze as
roasters build up their stockpiles.

``Selling appeared from Indonesia in modest volume which
was evenly matched by industry buying,'' Paul Prescott, an
analyst with Fimat USA LLC in New York, said an in e-mailed
report. Robusta prices may continue to climb, he added.


Read more at Bloomberg Commodities News

UPDATE 1-No sign of Asian sales of US Treasuries -Kimmitt

(Reuters) - U.S. Treasury data released last Friday showed net purchases
of U.S. Treasury notes and bonds fell to $376 million in April,
the lowest level since April 2006.




Some market analysts said the drop might have been caused by
Asian central banks diversifying their portfolios.


Read more at Reuters.com Bonds News

Swiss Franc Gains Versus Euro on Speculation Central Bank May Buy Currency

(Bloomberg) -- The Swiss franc rose by the most in
two weeks versus the euro on speculation its slide to a record
low may prompt the central bank to take action, to prevent
inflation from accelerating.

The franc is set to snap a four-day losing run, partly on
speculation the Swiss National Bank may intervene like the
Reserve Bank of New Zealand, which sold its currency on June 11.
The SNB has said the franc's drop isn't justified by economic
fundamentals, and may lead to quickening inflation.


Read more at Bloomberg Currencies News

Kenmare sees first Mozambique exports July - paper

(Reuters) - Irish mining group Kenmare Resources plans to make the first shipments from its titanium project in Mozambique next month, a newspaper report said on Tuesday.

The company, listed in London and Dublin, said in April it had launched mining operations at its Moma Titanium Minerals Mine.


Read more at Reuters Africa

UPDATE 1-RedZone pays $175 mln for Dick Clark Productions

(Reuters) - The deal includes nearly 900 one-hour broadcasts of
American Bandstand, which aired from 1957 to 1989. Also
included are The American Music Awards, the Golden Globes, the
Academy of Country Music Awards, and Dick Clark's "New Year's
Rockin' Eve."




Red Zone said Terry Bateman would become CEO of Dick Clark
Productions, replacing Allen Shapiro, who is stepping down.
Bateman was formerly the marketing chief of the Washington
Redskins football team, which Snyder owns.


Read more at Reuters.com Mergers News

European Government Bonds Gain; German Sentiment Index Unexpectedly Drops

(Bloomberg) -- European government bonds rose after
a report showed investor confidence in Germany, the continent's
biggest economy, unexpectedly fell this month.

Two-year yields fell from near a six-year high after the ZEW
Center for European Economic Research said its index of investor
and analyst expectations dropped to 20.3, from 24 in May.
Economists surveyed by Bloomberg News had expected confidence to
improve, predicting a reading of 29.


Read more at Bloomberg Bonds News

U.K.'s FTSE 100 Index Falls, Paced by Tesco on Slowing Sales; Capita Gains

(Bloomberg) -- U.K. stocks fell, led by Tesco Plc.
Shares of the nation's largest supermarket chain tumbled the most
in almost two years after it reported sales growth in the first
quarter that trailed analysts' estimates.

Marks & Spencer Group Plc, the U.K.'s largest clothing
retailer, also declined. Capita Group Plc rallied after Citigroup
Inc. recommended buying shares in the operator of London's
traffic congestion charge.


Read more at Bloomberg Stocks News

U.S. stock futures dip but Yahoo may support Wall St

(Reuters) - A surprisingly weak reading on German investor confidence
prompted European shares to pare gains, which knocked
Standard & Poor's 500 and Nasdaq 100 futures .




"Bond yields going higher, that's getting people nervous and
the sell-off in European markets is also doing it," said Steve
Previs, senior vice president at Jefferies International.


Read more at Reuters.com Bonds News

Gold Falls in London After Dollar Rebounds Versus Euro; Silver Also Drops

(Bloomberg) -- Gold fell in London for the first
time in five days as the dollar's slide against the euro
stalled, reducing demand for the metal as an alternative
investment. Silver also declined.

Before today, gold increased for four straight days and the
dollar dropped against the euro over the same period. The dollar
today climbed 0.2 percent against the euro.


Read more at Bloomberg Commodities News

Euro Falls After German Investor Confidence Unexpectedly Declines

(Bloomberg) -- The euro extended losses against the
yen and the dollar after a report today showed investor
confidence in Germany, Europe's largest economy, unexpectedly
declined.

The ZEW Center for European Economic Research in Mannheim,
Germany, said today its index of investor and analyst
expectations fell to 20.3 from 24 in May, which was below
economists' expectations for 29 in a Bloomberg News survey. The
single currency earlier touched a record against the yen and
reached its highest in more than a week versus the dollar on
speculation the European Central Bank will keep raising interest
rates.


Read more at Bloomberg Currencies News

European Stocks Pare Gains After ZEW Survey; Tesco Declines on Sales

(Bloomberg) -- European stocks pared gains after a
report showed German investor confidence unexpectedly fell in
June. Tesco Plc dropped after Britain's largest supermarket
operator reported sales that missed analysts' estimates.

The Dow Jones Stoxx 600 Index added less than 0.1 percent to
397.97 as of 10:12 a.m. in London, after rising as much as 0.3
percent earlier. The Stoxx 50 increased 0.1 percent, while the
Euro Stoxx 50, a measure for the nations sharing the euro, gained
less than 0.1 percent.


Read more at Bloomberg Stocks News

Shanghai copper down 1.4 percent on faltering LME

(Reuters) - Shanghai copper closed down 1.4 percent on Tuesday as investors cashed in positions after London futures failed to sustain a rally above $7,600 a tonne in the previous session.

The most-active September copper contract on the Shanghai Futures Exchange ended the day at 64,480 yuan a tonne, from 65,400 yuan on Monday.


Read more at Reuters Africa

Nigerian strike still on despite concessions

(Reuters) - Nigerian labour unions said a general strike in Africa's top oil producer will go ahead as planned on Wednesday despite concessions offered by the government.

In a meeting on Monday night, the government offered to take back half a 10 naira per litre (8 cents) increase in the fuel price, among other concessions to unions whose action threatens to halt oil shipments from the world's eighth largest exporter.


Read more at Reuters Africa

MAN AG's Truck Division Predicts Sales in Russia Will Triple This Year

(Bloomberg) -- MAN AG, Europe's third-largest
truckmaker, predicted that purchases from Russian customers will
triple this year as a booming economy increases transport
demand.

MAN plans to increase Russian sales to ``clearly more
than'' 4,000 trucks from 1,570 vehicles in 2006, Anton Weinmann,
the commercial-vehicles division chief, said yesterday in
written responses to questions from Bloomberg News.


Read more at Bloomberg Emerging Markets News

U.K.'s FTSE 100 Index Rises, Paced by Rio Tinto, Capita Group; Tesco Falls

(Bloomberg) -- U.K. stocks rose, led by Rio Tinto
Group. Capita Group Plc rallied as Citigroup Inc. recommended buying
shares in the operator of London's traffic congestion charge.

Tesco Plc tumbled the most in almost two years after the
nation's largest supermarket chain reported sales growth in the
first quarter that trailed analysts' estimates.


Read more at Bloomberg Stocks News

UPDATE 1-Italy allows U.S. fund into bidding for Alitalia

(Reuters) - ROME, June 19 - Italy has allowed U.S. private equity firm MatlinPatterson to re-enter the auction for airline Alitalia after fears arose that one of the two final bidders may quit.



The firm was earlier in a consortium with fellow U.S. private equity firm TPG [TPG.UL], which pulled out of the auction last month citing difficulties with the conditions imposed.


Read more at Reuters.com Mergers News