Live Financial And Business News By SaneBull

NEW YORK/VIENNA (Reuters) - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said on Friday.

VIENNA (Reuters) - The incoming head of the U.N.'s nuclear watchdog said Friday he did not see any hard evidence that Iran was trying to gain the ability to develop nuclear weapons.

MOSCOW (Reuters) - Russian Prime Minister Vladimir Putin on Friday called on the United States to move relations forward by shelving plans for a missile defense shield in Europe, news agencies reported.

NEW YORK (Reuters) - Since its opening last week, camp counselors at New Jersey's Liberty Lake Day Camp disinfect door knobs, take the temperatures of children as they arrive and remind the campers not to share canned sodas.

MOSCOW (Reuters) - U.S. and Russian negotiators have still not reached agreement on cutting stocks of their deadliest nuclear weapons ahead of President Barack Obama's first visit to Moscow on Monday, sources close to the talks said.

(Reuters) - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source involved in preparations for the meeting said on Friday.

TOKYO (Reuters) - Major countries should support the dollar as the key international currency, although emerging nations may discuss a new global reserve currency on the sidelines of the G8 summit next week, a Japanese official said on Friday.

LONDON (Reuters) - Oil dropped a dollar to below $66 a barrel on Friday after unemployment data hardened views economic weakness would sap energy demand and that last month's rally was overdone.

NEW YORK/VIENNA (Reuters) - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said on Friday.

(Reuters) - Canada's Teck Resources said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp through a private placement that will raise C$1.74 billion ($1.5 billion) and help the miner pay down debt.

MOSCOW (Reuters) - U.S. businessmen are expected to use a Russia-U.S. business summit on Tuesday to press Moscow to rein in corruption and improve conditions for western companies operating in the country.

LONDON (Reuters) - PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized trades earlier this week which landed the firm with a loss of nearly $10 million.

(Reuters) - PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized Brent crude futures trades which landed the firm with a loss of nearly $10 million.

FRANKFURT/MUNICH (Reuters) - A Chinese automaker has offered to buy a stake in General Motors unit Opel, challenging a deal from Canadian auto parts supplier Magna, sources said on Friday.

MOSCOW (Reuters) - U.S. and Russian negotiators have still not reached agreement on cutting stocks of their deadliest nuclear weapons ahead of President Barack Obama's first visit to Moscow on Monday, sources close to the talks said.

ZURICH (Reuters) - Swiss Re said insured losses soared to$50 billion for the industry in 2008, making it the secondcostliest year ever.

LONDON (Reuters) - HSBC Holdings sharesfell over 5 percent on Thursday to extend a 6-day retreat to 16percent as concern mounted it could raise capital or cut itsdividend to keep its balance sheet advantage.

NEW YORK (Reuters) - American International Group Inc Chief Executive Edward Liddy has asked for more timebefore meeting with U.S. Rep. Elijah Cummings, who has beencritical of the insurer and management in recent weeks.

BRUSSELS (Reuters) - Spanish banking group Santander won permission from EU competition authorities onThursday to acquire assets including deposits and branches ofBritish mortgage lender Bradford & Bingley .

* Technical performance should see further improvements

* Private equity Hellman & Friedman pays off loan withstake

BRUSSELS (Reuters) - The European Commission on Thursdayapproved Belgium's emergency 3.5 billion euro ($5 billion)recapitalisation of KBC , aimed at helping the bankingand insurance group through the financial crisis.

WASHINGTON (Reuters) - Rules aimed at preventing creditcard holders from being hit by unfair and deceptive practicessuch as surprise fees and interest-rate hikes were approved onThursday by a U.S. banking regulator.

NEW YORK (Reuters) - The Federal Reserve bought $2.4billion of Fannie Mae , Freddie Mac and FederalHome Loan Banks debt in permanent coupon purchases on Thursdayin an ongoing effort to lower mortgage rates.

NEW YORK (Reuters) - Citigroup Inc has boosted itslending after receiving government money and has set up acommittee of senior executives to make sure it is using thosefunds properly, according to an internal memo obtained byReuters.

NEW YORK, Oct 29 (Reuters) - Shares of General Motors Corp

NEW YORK, Oct 29 (Reuters) - Kraft Foods Inc rose

NEW YORK, Oct 29 (Reuters) - Shares of Corning Inc

NEW YORK, Oct 28 (Reuters) - Shares of Target rose

NEW YORK, Oct 28 (Reuters) - Shares of US Steel Corp

jumped more than 4 percent to $16.77 before the bell

NEW YORK, Oct 28 (Reuters) - Boeing shares rose 6.5

Google Inc rose about 3 percent to $338.50 before the

Shares of Exxon Mobil Corp fell 3.2 percent to

tumbled 31.6 percent to $1.88 before the opening bell

LONDON, July 3 (Reuters) - Debt-troubled UK heating productsmaker Baxi [BCPRTG.UL] said on Friday it had agreed to mergewith Dutch rival De Dietrich Remeha to boost its capitalposition and create one of Europe's biggest heating productscompanies.

BRUSSELS, July 3 (Reuters) - The following are plannedmergers under review by the European Commission and a briefguide to the EU merger process:

HONG KONG/TAIPEI, July 3 (Reuters) - Global investorsCarlyle [CYL.UL] and Primus are among the bidders for AIG's Taiwan insurance unit, sources said on Friday, as thetroubled U.S. insurer looks to divest some of its global assets.

- Caught short. Short-sellers can make losses as well as bigprofits.

HONG KONG/TAIPEI, July 3 (Reuters) - Global investors Carlyle[CYL.UL] and Primus are among the bidders for AIG's Taiwan insurance unit, sources said on Friday, as the troubledU.S. insurer aims to get rid of some of its global assets.

(Adds background on industry, comments in paragraphs 7-14)

* Ford Canada CEO expects overall market rebound in Q4 (Adds details, background)

* Streak of successful IPOs raises hopes for rest of year

* Proposal calls for high capital levels, 3-yr commitment (Recasts, adds reaction)

* Could combine private equity, industrial partner - source

HONG KONG, July 3 (Reuters) - Wilmar International, the world's largest listed palm oil company, hashired three banks to handle what sources say could be a $3billion flotation of its China business.

HONG KONG, July 3 (Reuters) - Wilmar International, the world's largest listed palm oil company, hashired three banks to handle what sources say could be a $3billion listing of its China business.

* Streak of successful IPOs raises hopes for rest of year

HONG KONG, July 2 (Reuters) - The Chinese government hashired three banks to handle the public listing of a railwayholding company, a source familiar with the matter said onThursday, in an IPO that could be worth around $5 billion.

NEW YORK, July 1 (Reuters) - GMAC said on Wednesday that ithas converted to a corporation from a limited liabilitycompany, a move that could allow the auto and mortgage lenderto sell shares to the public.

LONDON, July 1 (Reuters) - Bondholders in British insurerPearl Group said on Wednesday they would not back a proposedre-listing of the group because of concerns over treatment ofthe bonds.

* LogMeIn becomes 10th IPO of 11 with first-day pop (Updates with closing stock price, 1st-day performance)

(Refiles to restore dropped word "are," paragraph 3) (For more Reuters DEALTALKS, click [DEALTALK/])

ALMATY, July 1 (Reuters) - Kazakh oil producer Zhaikmunai said on Wednesday it was in talks with lenders aboutpossible waivers on its debt covenants after "various events ofdefault" led to a $100 million credit line being cut off.

* LogMeIn becomes 10th of 11 IPOs to price well in 2009 (Recasts, adds analyst quotes, byline)

* Says pact does not make Intesa, Cr Agricole independent

* Needs no new finance sources for 2009-1010 period (Adds comments on banking covenant)

LONDON, July 3 (Reuters) - Britain's leading equity indexclosed marginally higher on Friday as positive financial anddefensive stocks outpaced weaker commodity shares, which trackeda decline in crude and metals prices.

MILAN, July 3 (Reuter) - Italy's antitrust authority issued astatement on Friday on its website:

LONDON, July 3 (Reuters) - Aberdeen Asset Management's Global-Euro High Yield Bond fund was the top performer amongBritish-registered bond funds in June, data from Thomson Reuters fund researchfirm Lipper showed on Friday.

LONDON, July 3 (Reuters) - Russia's state-ownedVnesheconombank (VEB) is looking to secure a syndicated loanworth up to $1 billion and has invited banks to submit proposalsfor the deal, banking sources said on Friday.

Reuters has stopped distributing the full text of Moody'sInvestors Service press releases on ratings actions, effectiveApril 1, 2009. The text of this Moody's Investor Service ratingis available at www.moodys.com.

* Sale means Volvere has about 20 mln stg for reinvestment

MILAN, July 3 (Reuters) - Italian bank profits will fall again in 2009 butless than in the previous year when results were strongly penalised by tradinglosses, Moody's Senior Vice President Henry MacNevin said on Friday.

* Maintains loan impairment charge forecast issued in May

LONDON, July 3 (Reuters) - European gasoline prices dippedin very light trade on Friday, tracking losses in crude and U.S.gasoline futures.

* Thin trading with U.S. markets closed (Adds details, quote)

SAO PAULO, July 3 (Reuters) - Brazilian stocks opened toslight seesawing on Friday, as a holiday in the United Statesand overall caution about the global economy may lead to a dayof light trading.

* China's crude stocks equal to 86 days of imports - Tanaka

* New firm set up to buy substantial oil and gas assets

BEIJING, July 3 (Reuters) - Top oil and gas firm PetroChina raised daily output at its largest Suligegasfield, in northern China's Ordos Basin, to 25.6 million cubicmetres, up 67 percent from last July, its parent CNPC said.

LONDON, July 3 (Reuters) - Australia-based royalty andmineral exploration company Royalco Resources Ltd saidon Friday it rejected Anglo Pacific Group Plc's improvedoffer because it undervalues the company.

JAKARTA, July 3 (Reuters) - Indonesia is consideringbuilding an onshore liquefied natural gas (LNG) plant fornatural gas reserves from the Timor Sea, operated by Japan'sInpex Corp , to cut costs, the mines and energyminister said on Friday.

HONG KONG, July 3 (Reuters) - Shares in Chinese herbalshampoo maker BaWang International (Group) Holding Ltd soared more than a third in its market debut onFriday, bucking a weaker broader market, in a sign of strongdemand for consumer goods stocks. BaWang, which hired movie star Jackie Chan and pop singer FayeWong to promote its products, sold 700 million shares at aprice representing 18 times its estimated earnings for 2009.

SHANGHAI, July 3 (Reuters) - China Shenhua Energy Co Ltd plans to double its annual coal productioncapacity by 2014 from this year's level, the China SecuritiesJournal reported on Friday, quoting unnamed company sources.