Brazil's Bovespa Falls, Led by Petrobras, on Tax Bill, Drop in Oil Prices

(Bloomberg) -- Brazil's main stock index slid for the
second time in three days, led by state-controlled oil company
Petroleo Brasileiro SA, as oil prices dropped and the company
received a bill for $710 million in unpaid taxes.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 551.49, or 1 percent, to 57,485.28 as of 11:08 a.m.
New York time. Petrobras accounted for one-fourth of the drop.


Read more at Bloomberg Stocks News

Datatec in Turkish venture with Indeks Bilgisayar

(Reuters) - South African IT firm Datatec has agreed to a joint venture with Turkey's Indeks Bilgisayar to gain a foothold in Turkey as it expands in emerging markets, it said on Tuesday.

Datatec's Westcon unit has agreed to buy 50 percent of Turkish network and security distributor Neteks Iletisim Urunleri (Netex) from Indeks Bilgisayar, which will keep the other 50 percent, Datatec said in a statement.


Read more at Reuters Africa

Canadian Dollar May Reach Parity With U.S. in Three Months, Citigroup Says

(Bloomberg) --The Canadian dollar may reach parity
with the U.S. currency within three months as surging growth
raises expectations for higher interest rates, according to
Citigroup Inc., the world's biggest bank.

Canada's dollar touched a 30-year high today after a report
showed May retail sales rose at the fastest pace in almost a
decade, bolstering speculation the Bank of Canada will keep
boosting its target rate from 4.5 percent, enticing global
investors to buy the country's assets. The Canadian dollar has
gained about 11 percent against the U.S. currency this year.


Read more at Bloomberg Currencies News

AT&T profit rises on wireless; iPhone disappoints

(Reuters) - NEW YORK, July 24 - Top U.S. telecommunications service provider AT&T Inc. said on Tuesday quarterly profit and revenue rose, helped by growth in wireless and Internet subscribers. Second-quarter net profit rose to $2.9 billion, or 47 cents a share, from $1.8 billion, or 46 cents a share.



On an adjusted basis, which excludes costs and accounting effects related to acquisitions, profit rose to 70 cents per share from 58 cents.


Read more at Reuters.com Market News

UPDATE 2-Bowater second-quarter loss grows as costs rise

(Reuters) - The company, which plans to merge with Canadian peer
Abitibi-Consolidated Inc , said its net loss was $62.6
million, $1.09 a share, compared with a net loss $10.6 million,
or 18 cents, in the year-ago period.




Excluding one-time items, loss for the quarter was $41.5
million, or 72 cents per share, compared with analysts'
consensus forecasts for a loss of 80 cents, according to data
compiled by Reuters Estimates.


Read more at Reuters.com Market News

Toromont profit jumps 53 pct in second quarter

(Reuters) - That compares with net earnings of C$24.9 million, or 39
Canadian cents per share, in the same period last year.







Read more at Reuters.com Market News

Kimberly-Clark sales growth to slow in second half

(Reuters) - Earlier on Tuesday, Kimberly-Clark said that second quarter
sales rose 8.2 percent to $4.5 billion and sales in the first
six months of the year rose 8 percent to $8.89 billion.







Read more at Reuters.com Market News