European Spot Carbon Emission Permits Fall to Record on Likely Oversupply

(Bloomberg) -- European Union carbon-dioxide
emission permits for immediate delivery fell to a record on a
likely oversupply this year.

Emission permits fell 3 cents, or 27 percent, to 8 euro
cents ($0.11) a metric ton on the Powernext exchange in Paris at
11:27 a.m. local time. Permits for December 2008 fell 42 cents,
or 1.9 percent, to 21.20 euros a ton, according to the European
Climate Exchange in Amsterdam.


Read more at Bloomberg Energy News

European Stocks Decline on Ifo Report; Vinci, DaimlerChrysler Fall

(Bloomberg) -- European stocks dropped for a second
day after German business confidence fell more than economists
forecast in June, adding to signs that growth in Europe's largest
economy may slow.

Vinci SA, the world's biggest construction company, and
German carmaker DaimlerChrysler AG led the retreat. Julius Baer
Holding AG declined the most in a year after UBS AG sold part of
its stake in the Swiss Bank, thwarting takeover speculation.
Infineon Technologies AG slid after Merrill Lynch & Co. lowered
its recommendation for the shares.


Read more at Bloomberg Stocks News

U.S. shares set for weak start; eyes on Blackstone

(Reuters) - Investor focus is likely to be on private equity group
Blackstone , which makes its debut on the New York Stock
Exchange after its initial public offering at $31 a share valued
it at $33.48 billion and marked a watershed for the booming
private equity industry.




"The Street is talking of an opening $2 to $3 higher, and
it's clear that those who got in early will make money," Steve
Previs of Jefferies International said.


Read more at Reuters.com Bonds News

Lone Star sells KEB stake, S.Korean firms

(Reuters) - The Dallas-based fund has faced public outcry over the size of expected profits from its deals in South Korea, which some have described as a litmus test of how far the country is willing to accept foreign investment.




Lone Star Chairman John Grayken said the fund had sold a 13.6 percent stake in key investment Korea Exchange Bank to pay down debt, and added it plans to sell its remaining 51 percent in South Korea's fifth-biggest lender to a strategic investor.


Read more at Reuters.com Business News

Lone Star sells S.Korea's STARLease for $326 mln

(Reuters) - Hyosung's activities range from textiles to machinery,
construction and services.





Read more at Reuters.com Mergers News

China Stocks Slide on Interest Rate Speculation: World's Biggest Mover

(Bloomberg) -- China's shares fell the most in
almost three weeks on speculation the government will raise
interest rates to tame a stock-market boom and cool the economy.
Industrial & Commercial Bank of China Ltd. paced the decline.

``It's Friday,'' said Sun Chao, an analyst at Citic
Securities Co. in Shanghai. ``People are always worried that the
government will announce some negative news over the weekend,
such as interest rate hikes.''


Read more at Bloomberg Stocks News

Philippines' BPI sells bad loans to Bank of America

(Reuters) - BPI said aside from Bank of America, four other foreign
institutions submitted bids for the loans.




Philippine commercial banks' non-performing loans have
fallen to 5.27 percent of total loans as of end April from a
peak of about 18 percent in 2001.


Read more at Reuters.com Bonds News