Treasuries Are Little Changed Amid Concern Losses at Hedge Funds to Widen

(Bloomberg) -- Treasuries were little changed amid
concern hedge fund losses tied to subprime mortgages will become
more widespread.

Two-year yields touched the lowest this month as investors
shifting out of riskier assets pushed equity indexes down across
Europe. Government securities may also be buoyed before reports
forecast to show consumer confidence fell to a 10-month low in
June and new home sales declined.


Read more at Bloomberg Bonds News

CBRL June same-store restaurant sales up 1.1 pct

(Reuters) - NEW YORK, June 26 - CBRL Group Inc. , parent of the Cracker Barrel Old Country Store restaurants and gift shops, on Tuesday said sales at its restaurants open at least 18 months rose 1.1 percent in June.



The increase was due to a 2.2 percent increase in the average check following a menu price increase, the company said.


Read more at Reuters.com Market News

Mohawk to buy wood flooring assets of Columbia Forest

(Reuters) - The assets, which include plants in the U.S. and Malaysia, are currently experiencing losses but are expected to add to earnings after the first year, Mohawk said in a statement.



The deal is expected to close in the third quarter.


Read more at Reuters.com Mergers News

New York Transit Authority, Colorado City Lead U.S. Municipal Borrowers

(Bloomberg) -- New York State's Metropolitan
Transportation Authority and the city of Aurora, Colorado, will
borrow more than $800 million combined in today's largest sales
of U.S. state and local government bonds.

The Metropolitan Transportation Authority, operator of the
largest U.S. public transit network, will sell $425 million of
bonds in a deal managed by UBS AG. Aurora, Colorado's third
most-populous city, will offer $426 million of debt with
JPMorgan Chase & Co. tapped to manage the sale.


Read more at Bloomberg Bonds News

Higher Lake Victoria boosts Uganda's electricity

(Reuters) - Rains have rescued Lake Victoria from its lowest water levels since 1923, enabling Uganda to boost hydroelectric power, but blackouts are likely to continue, the minister of state for energy said on Tuesday.

The east African country of 27 million people has suffered power shortages over the last three years as two dams near the Nile's source at the lake struggled to keep pace with demand rising by 8 percent a year.


Read more at Reuters Africa

Canada mulls new foreign-takeover rules - report

(Reuters) - He said many governments have policies in place and take this concern into account when scrutinizing foreign purchases.




"For most countries, national security is actually one of the variables they take into consideration," the paper quoted Flaherty as saying.


Read more at Reuters.com Mergers News

Lennar posts quarterly loss on lower revenue

(Reuters) - June 26 - Lennar Corp., the second largest U.S. home builder, on Tuesday reported a quarterly loss, citing charges related to land values and declining demand related to the subprime-mortgage meltdown.



Lennar posted a net loss of $244.2 million, or $1.55 a share for the fiscal second quarter that ended April 30, compared with net earnings of $324.7 million, or $2 a share, a year earlier.


Read more at Reuters.com Bonds News