Chevron Profit Rises on Wider Refining Margins, Gain on Dynegy Stake Sale

(Bloomberg) -- Chevron Corp., the second-largest
U.S. oil producer, posted its highest quarterly earnings ever
after gasoline prices rose to a record and the company sold its
stake in Dynegy Inc. at a profit.

Second-quarter net income climbed to $5.38 billion, or
$2.52 a share, from $4.35 billion, or $1.97, a year earlier, San
Ramon, California-based Chevron said today in a statement. The
profit increase, at 24 percent, was the biggest among the
world's five largest investor-owned oil companies.


Read more at Bloomberg Energy News

Indian Bonds Fall; Chidambaram Says Excess Liquidity Poses Inflation Risk

(Bloomberg) -- India's 10-year bonds fell,
reversing gains, after Finance Minister Palaniappan Chidambaram
said there was ``enormous liquidity'' in the market and the
government will ``take all steps'' to curb inflation.

The rate at which banks lend to each other overnight stayed
below 0.5 percent for a third week on speculation the central
bank sold rupees to stem gains in the currency, adding to funds
in the system. The central bank, which will announce its
interest-rate decision on July 31, is fighting inflation that
accelerated to a six-week high in the seven days ended July 14.


Read more at Bloomberg Bonds News

Platinum, Palladium Decline as New Catalyst From Nissan Reduces Metal Use

(Bloomberg) -- Platinum and palladium fell in London
after Nissan Motor Co. announced new technology that may slash
demand for the metals used in catalytic-converters.

Nissan developed a gasoline-powered catalyst that uses half
the platinum, palladium and rhodium in existing technology, the
company said in a statement today. Platinum usage in catalytic
converters rose 11 percent last year to a record, London-based
catalyst producer Johnson Matthey Plc said in May.


Read more at Bloomberg Commodities News

Washington Grp major shareholder says to vote against URS deal

(Reuters) - On May 28, URS said it would acquire the company for about
$2.3 billion, and the pending acquisition had already cleared
an antitrust hurdle.





Read more at Reuters.com Government Filings News

FTSE sags as credit jitters persist; property shows gains

(Reuters) - The FTSE 100 index of Britain's leading shares reversed earlier gains in choppy trade on Friday although real estate stocks lent support despite concerns over U.S. credit risks and rising interest rates.

At 1114 GMT, the UK's main index was 16.1 points, or 0.3 percent, lower at 6,235.1, but had pulled away from near four-month lows, with investors still wary that U.S. subprime lending concerns could spread into other areas of the economy.


Read more at Reuters Africa

US STOCKS-Futures cut losses after GDP data

(Reuters) - S&P 500 futures were off 9.50 points, below fair
value, a mathematical formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract.




Dow Jones industrial average futures were down 69
points, and Nasdaq 100 futures were down 6.50 points.


Read more at Reuters.com Bonds News

TREASURIES-Bonds up but volatile stocks hold key

(Reuters) - A government report showed the U.S. economy grew at a
stronger-than-expected annual rate of 3.4 percent in the second
quarter, rebounding from a dismal start to the year.




The data's inflation gauge plunged, indicating that the
Federal Reserve now has more leeway if it needs to cut
benchmark interest rates in the second half of this year.


Read more at Reuters.com Bonds News