GLOBAL MARKETS-U.S. stocks bounce up, dollar and bonds slip

(Reuters) - NEW YORK, July 11 - U.S. stocks rose on
Wednesday, helped by gains in energy shares, while the dollar
dropped on continued U.S. subprime mortgage fears and bonds
fell out of favor.




Data showing falling supplies of crude in the United States
boosted shares of Exxon Mobil Corp. 0.3 percent to
$86.77.


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Sallie Mae says takeover deal threatened

(Reuters) - On Wednesday, Sallie Mae said the acquiring group said it
believes that current legislative proposals before the U.S.
House of Representatives and U.S. Senate "could result in a
failure of the conditions to the closing of the merger to be
satisfied."




Sallie Mae said it "strongly disagrees with this assertion"
and "intends to proceed towards the closing of the merger
transaction as rapidly as possible and will take all steps to
protect shareholders' interests."


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Coffee Rises in New York on Concern Cooler Brazilian Weather May Hurt Crop

(Bloomberg) -- Coffee rose for the second straight
day in New York as forecasts for cooler weather in Brazil spurred
speculation that frost may hurt crops.

Temperatures are expected to turn lower in the next two
days, according to Meteorlogix LLC in Woburn, Massachusetts. They
still will remain above 50 degrees Fahrenheit (10 degrees
Celsius), and there is no threat of frost, the forecaster said.
Brazil is the world's biggest coffee producer.


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OMV could offer over $166/share for MOL: sources

(Reuters) - OMV has negotiated a 13.5 billion euro loan for the takeover as it seeks to convince its Hungarian rival to enter merger talks, the sources added on Wednesday.




OMV has loosely agreed loan terms with banks including J.P. Morgan and Barclays but has yet to sign any deal formally, the sources said, adding that there remain "many significant hurdles" to any offer being made and the loan may not be required.


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Fremont in deal to stop foreclosures in Massachusetts

(Reuters) - "No foreclosures can occur until the Attorney General's
Office has been provided with documentation for each delinquent
loan and a 90-day period to review each transaction," Coakley
said in a statement.




A spokesman for Fremont did not immediately return a call
seeking comment.


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UPDATE 1-AMO blasts shareholder's opposition to Bausch deal

(Reuters) - Advanced Medical Optics Chief Executive James Mazzo, responding to a critical letter from ValueAct, said he was "surprised and disappointed" by ValueAct's opposition to the $4.23 billion hostile bid for Bausch & Lomb.




Mazzo said this was "especially hard to understand given expressed interest on June 12th in investing $700 million in equity in a Bausch & Lomb acquisition and your reaffirmation of a desire to participate in financing the transaction as recently as July 5."


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Cocoa Rebounds on Report Indicating Rising Demand From European Processor

(Bloomberg) -- Cocoa in New York rebounded from two
sessions of losses after a report indicated rising demand from
European processors such as Cadbury Schweppes Plc and Nestle SA.

Companies used 3.4 percent more beans in the second quarter
than a year earlier, the European Cocoa Association in Brussels
said today in a report. Cocoa grindings, a measure of how much of
the commodity is made into chocolate, rose to 323,353 metric tons
from 312,817 metric tons, according to the group.


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