Global Industries to sell $325 mln of debentures

(Reuters) - It will use up to $75 million of the net proceeds to buy
back common shares, and the rest for acquisitions and for
constructing and upgrading its vessels, among other purposes,
Global Industries added.





Read more at Reuters.com Bonds News

Japanese Bonds Post Longest Winning Streak Since November on Risk Aversion

(Bloomberg) -- Japan's bonds posted the longest
winning streak since November on speculation a decline in
emerging-market debt and equities will prompt investors to seek
the relative safety of government securities.

The rally pushed the 10-year yield to the lowest in six
weeks as a drop in U.S. stocks extended to Asia. The yield
premium required to compensate buyers for the extra risk of
holding emerging-market debt compared with similar-maturity U.S.
Treasuries climbed to the highest since March, according to
JPMorgan Chase & Co.'s EMBI Plus index.


Read more at Bloomberg Bonds News

UPDATE 1-JPMorgan says wins approval to incorporate in China

(Reuters) - SHANGHAI, July 23 - Wall Street bank JPMorgan
said on Monday it had won final approval to set up a
wholly owned unit in China to strengthen its wholesale banking
business in the world's fastest growing major economy.




This move will make JPMorgan the second U.S. bank to
incorporate in China, after Citigroup Inc. did so early
this year, while more than a dozen foreign banks queue to secure
regulatory approval for their China-incorporated units.


Read more at Reuters.com Government Filings News

Copper Stockpiles Fall Most in a Month in London; Nickel Inventories Gain

(Bloomberg) -- Copper stockpiles monitored by the
London Metal Exchange rose the most in more than a month.

Inventories of copper gained 2,725 metric tons, or 2.8
percent, to 101,400 tons, the exchange said today in a daily
report. That's the largest one-day increase since June 21.
Stockpiles have fallen 45 percent this year.


Read more at Bloomberg Commodities News

European Insurance Stocks Gain; Friends Provident, Resolution Surge

(Bloomberg) -- European insurance stocks rose, led
by Friends Provident Plc and Resolution Plc after the U.K.
companies said they are in talks for a merger that would create
the U.K.'s fifth-biggest insurer.

Friends Provident jumped the most in more than two months,
while Resolution surged the most since March. Nestle SA dropped
after the Wall Street Journal reported the foodmaker is slimming
down its U.K. candy product range because nearly 40 percent of
its chocolate products made a loss or barely made a profit.


Read more at Bloomberg Stocks News

China's CSI 300 Index Posts Biggest Two-Day Gain Since Launch; Banks Rise

(Bloomberg) -- China's stocks rose, completing the
CSI 300 Index's biggest two-day gain, on speculation government
curbs on lending and investment will prevent production gluts
from driving down earnings. Shenzhen Development Bank climbed.

China's central bank raised interest rates on July 20 for
the third time since March to cool the fastest pace of economic
growth in 12 years and restrain inflation.


Read more at Bloomberg Stocks News

Marubeni, Keppel, Sembcorp to Bid on Temasek Utility Units, Bankers Say

(Bloomberg) -- Marubeni Corp., Keppel Corp. and
Sembcorp Industries Ltd. plan to bid for the electric utilities
being sold by Temasek Holdings Pte, Singapore's government-owned
investment company, three bankers with knowledge of the deal said.

Singapore-based Keppel and Sembcorp, the world's biggest
oil-rig builders, this month contacted lenders to provide
financing and advice, said the bankers, who declined to be
identified because the talks are private. The units, Power Senoko
Ltd., Power Seraya Ltd. and Tuas Power Ltd., may be valued about
S$2.5 billion ($1.7 billion) each and sold in stages over the
next two years, they said.


Read more at Bloomberg Bonds News