Virgin Media buyout would wring profit from taxes

(Reuters) - The UK cable operator said on Monday it appointed long-time adviser Goldman Sachs to find a possible buyer after receiving a takeover approach.




Private equity firm Carlyle Group was behind the offer, people familiar with the situation say.


Read more at Reuters.com Business News

Treasuries Advance as Concern on Housing Spurs Investors' Flight to Safety

(Bloomberg) -- Treasuries rose on speculation
weakness in the subprime mortgage market may curb U.S. economic
growth and on concern over potential terror threats before the
Fourth of July holiday.

``It's a combination of the fear the housing sector will
continue to be a drag on the economy and a flight to quality
from global tensions,'' Gary Pollack, who helps oversee $12
billion as head of fixed-income trading in New York at Deutsche
Bank AG's Private Wealth Management unit.


Read more at Bloomberg Bonds News

U.S. Stocks Advance After Manufacturing Growth Accelerates; ADM Rises

(Bloomberg) -- U.S. stocks rose after the fastest
manufacturing growth in 14 months spurred speculation that the
economy will pick up.

Archer Daniels Midland Co., the biggest grain processor,
gained after Banc of America upgraded the stock to ``buy.''
Costco Wholesale Corp., the largest U.S. warehouse club,
climbed after Goldman, Sachs & Co. advised buying the shares.


Read more at Bloomberg Stocks News

US STOCKS-Indexes extend gains after factory data

(Reuters) - The Dow Jones industrial average was up 91.37
points, or 0.68 percent, at 13,499.99. The Standard & Poor's
500 Index was up 11.55 points, or 0.77 percent, at
1,514.90. The Nasdaq Composite Index was up 21.70
points, or 0.83 percent, at 2,624.93.




Read more at Reuters.com Bonds News

TREASURIES-After dip on ISM, safety bid lifts bonds

(Reuters) - NEW YORK, July 2 - U.S. Treasury debt prices
briefly slipped on Monday, reacting to a somewhat stronger than
expected reading on the U.S. manufacturing sector, then quickly
erased those minor losses as a safety bid provided support.




The Institute for Supply Management said its manufacturing
index rose to 56.0 in June from 55.0 in May, slightly firmer
than Wall Street had forecast.


Read more at Reuters.com Bonds News

Benchmark subprime ABX indexes plunge to new lows

(Reuters) - The ABX 06-2 "BBB-" series, which references loans made in
last year's first half, also fell to a record low 59 bid, after
hitting a new low of 60.84 on Friday. The index has fallen 38
percent this year.




Read more at Reuters.com Bonds News

S.Africa millers see tight maize stocks, back fcast

(Reuters) - South Africa's Chamber of Milling on Monday backed a rosier forecast for the season's maize harvest although it expects supplies to remain precarious.

Local maize prices have rallied to record peaks this year after drought hit the agricultural heartland and left the country facing a supply crunch.


Read more at Reuters Africa