U.K. Pound Gains for Fifth Week Versus Dollar on Outlook for Interest Rate

(Bloomberg) -- The pound posted its longest winning
run against the dollar in more than a year on speculation Bank of
England policy makers will keep raising interest rates while the
U.S. Federal Reserve stays on hold.

The U.K. currency gained for a fifth week as futures traders
bet the central bank will raise rates a quarter-point and start
pricing in a further move to 6.25 percent by year-end. The pound
touched a 26-year high after Moody's Investors Service cut
ratings on bonds backed by U.S. subprime mortgages and Standard &
Poor's threatened to do the same.


Read more at Bloomberg Currencies News

Czech Koruna Gains for Second Week Versus Euro on Signs Growth Quickening

(Bloomberg) -- The Czech koruna rose for a second
week versus the euro, its first back-to-back advance this year,
after the country posted a higher-than-expected trade surplus and
on signs inflation is accelerating.

The koruna rose to a seven-week high after a report this
week showed the Czech trade surplus widened to 6.9 billion koruna
($335 million) in May, a record for the month that beat the
median estimate of 5.3 billion koruna in a Bloomberg survey. The
statistics office said July 11 price growth quickened to 2.5
percent in June, which may prompt the central bank to raise
interest rates this month.


Read more at Bloomberg Currencies News

Abitibi-Consolidated, Armor, Stillwater Mining, Terex: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges on
July 16. This preview includes news that broke after exchanges
closed. Stock symbols are in parentheses after company names.

Abitibi-Consolidated Inc. (ABY US) rose 4 cents, or 1.4
percent, to $2.89 in trading after the official close of U.S.
exchanges. The newsprint maker's largest shareholder, Third
Avenue Management LLC, opposes the company's merger with Bowater
Inc.


Read more at Bloomberg Stocks News

UPDATE 2-Hillary Clinton slams private equity tax rate

(Reuters) - WASHINGTON, July 13 - New York Sen. Hillary
Clinton, the Democratic presidential front-runner, on Friday
urged closing a tax "loophole" that she said unfairly benefits
a few top Wall Street financiers.




Clinton joined other lawmakers in a push to raise the tax
rate on "carried interest" gains made by senior partners in the
booming private equity and hedge fund businesses.


Read more at Reuters.com Mergers News

Whole Foods CEO's message posts trouble experts

(Reuters) - The Wall Street Journal, citing people familiar with the
matter, reported on Friday that the U.S. Securities and
Exchange Commission had launched an informal probe of Mackey's
postings, in a sign the issue will not go away any time soon.




A Whole Foods spokeswoman said the company had not been
contacted by the SEC and was unable to comment on the report in
the journal's online edition.


Read more at Reuters.com Mergers News

Edward Jones to pay $75 million in SEC settlement

(Reuters) - Edwards Jones settled without admitted or denying the charges.




As part of the settlement, Edward Jones agreed to increase disclosures on its Web site about the preferred mutual fund family program and the savings plan. It also agreed to pay $37.5 million in disgorgement and $37.5 million in civil penalties.


Read more at Reuters.com Business News

Black verdict closes chapter in fraud crackdown

(Reuters) - Speaking to reporters after the verdict was announced, Patrick J. Fitzgerald, the United States attorney here whose office brought the case against Black and three co-defendants, said the result sent a clear message to boardroom criminals that "if you take liberties and break the law with other people's money, there are going to be serious consequences."




The effort to stamp out corporate wrongdoing was born five years ago this week, when President George W. Bush signed an executive order establishing a multi-agency Corporate Fraud Task Force in the wake of multibillion-dollar scandals at Enron and WorldCom.


Read more at Reuters.com Bonds News