Singapore fund assets up 40 pct to $877 bln in 2009

July 9 (Reuters) – Total assets managed by fund managers in Singapore rose 40 percent to S$1.21 trillion ($877 billion) last year, above the pre-crisis peak of S$1.17 trillion in 2007, the central bank said on Friday.

Asia Pacific continued to be the main target for investments by Singapore-based managers, accounting for 61 percent of assets under management in 2009, Monetary Authority of Singapore Deputy Managing Director Ong Chong Tee said at an investment forum.

About 51 percent of the funds were invested in stocks, while bonds accounted for 16 percent, the central bank said. (Reporting by Kevin Lim; Editing by Jan Dahinten)

First stage of $20 bln oil fund done in 30 days

June 30 (Reuters) – The official overseeing BP Plc’s (BP.L) (BP.N) $20 billion oil spill compensation fund said he expects to complete his first phase of work in setting up the claims facility within the next 30 days.

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In prepared testimony for a hearing on how small businesses might be impacted by the fund, Kenneth Feinberg also said he hoped the $20 billion set aside by BP “will be sufficient to pay” all eligible claims. “If it is not, it is my understanding that BP has agreed to supplement this escrow fund as needed to assure full and fair compensation to all individuals and business that are found to be eligible for payment.” (Reporting by Deborah Charles; editing by Paul Simao)

EURO BONDS-BAT dual tranche bond

June 25 (Reuters) – News, details on corporate bond issues in the European markets on Friday:

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BAT (BATS.L)

Issue: Cigarette maker British American Tobacco is selling a dual-tranche bond, an official with one of the banks managing the sale said. The deal comprises a 10-year 600 million euro bond and a 30-year 275 million pound bond.

Managing banks: BNP Paribas, Deutsche Bank, HSBC, JP Morgan, Lloyds.

Rating: Moody’s Baa1, S&P BBB+ and Fitch BBB+

(London Corporate Finance: +44 207 542 8389)

Wall Street reform bill bans box office trading

LOS ANGELES (Hollywood Reporter) – Congress has driven a stake through the heart of movie box office futures trading.

An amendment banning the trading of derivatives based on box office results was approved just before 1 a.m. EST on Friday by a House-Senate conference committee for inclusion in the Wall Street reform bill (the Restoring American Financial Stability Act). It came after an entire day and night of discussion on the complex legislation.

Committee chair Rep. Barney Frank (D-Mass.) said during a short discussion that while there had been controversy about movie futures, the House conferees were not going to exercise their option to alter the amendment banning movie futures trading. He said they were agreeing to the amendment as written by Sen. Blanche Lincoln (D-Ark.) for the Senate bill. (Lincoln’s sister is film director Mary Lambert.)

“By not addressing it, we have acquiesced in that,” said Frank.

Both chambers of Congress will almost certainly pass the conference committee’s version of the bill with strong support from Democrats prior to summer recess on July 2. President Obama has indicated he will sign it into law.

The amendment was strongly supported by the major Hollywood studios and guilds. It was vigorously opposed by Veriana, an Arizona company that operates Media Derivatives, which wants to launch the Trend Exchange (MDEX); as well as Cantor Fitzgerald, owner of the Hollywood Stock Exchange, which wants to market a similar product through The Cantor Exchange; and some others, including Michael Burns, vice chairman of Lionsgate.

Derivatives are contracts whose value is based on stocks, bonds, loans, currencies or commodities linked to a specific event such as changes in weather, or in this instance, boxoffice results. Media Derivatives had won approval from the Commodities Futures Trading Commission on June 15 to offer its first contracts to investors.

The new law would appear to cancel that plan, although Veriana/Trend Exchange CEO Robert Swagger said earlier this week they will likely file a legal challenge based on their view that they are victims of antitrust activity by the studios and their allies. Swagger has also said Trend Exchange should be “grandfathered in” and allowed to offer its product since it won approval before the new law’s approval. That is likely to be opposed by the same groups that have fought this entire idea and will probably be decided ultimately in a court of law.

Veriana and Cantor have spent millions of dollars developing a futures market they argued would increase investment in movies and provide a hedge to those who finance films, just as markets in such things as orange juice, precious metals and pork bellies allow businesses to lay off financial risk. The Trend Exchange products were aimed at large and institutional investors, with a minimum investment of $5,000, and would be in play from a month before a movie opens until its premiere. The Cantor products were to be aimed at both large and small investors and would have run from before opening until one month after the movie hits theaters.

The CFTC had a deadline of June 28 to approve or disapprove the first Cantor contracts. The big studios said a futures market could encourage rivals or speculators to bet against a movie’s success and spread negative information.

House offers clearing exemption for finance arms

June 25 (Reuters) – The financing arms of so-called end user companies would not have to send their swaps through clearing houses when they assist in selling the parent company’s products under language proposed by U.S. House of Representatives negotiators on Friday.

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If accepted by Senate negotiators, the language would become part of a financial reform bill.

Representative Gary Peters said the exemption would save end users from higher costs and would not be limited to business-related work.

Companies such as Ford Motor Co (F.N), Deere & Co (DE.N), Caterpillar Inc (CAT.N) and Boeing (BA.N) have financing arms. (Reporting by Charles Abbott, editing by Jackie Frank)

Banks could trade many swaps under new compromise

June 25 (Reuters) – Banks would be allowed to trade in-house many types of over-the-counter derivatives under a new proposal designed to break an impasse in the U.S. Congress over financial regulation reform, Democratic Rep. Collin Peterson said on Friday.

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Banks could trade foreign exchange and interest rate swaps in house, as well as gold and silver swaps, and derivatives designed to hedge their own risk, said Peterson, citing a compromise worked on by members of a House and Senate financial reform panel as well as Obama administration officials.

But banks would need to spin-off desks to affiliates to handle agricultural, energy and metals swaps, equity swaps, and uncleared credit default swaps, Peterson said. (Reporting by Charles Abbott and Roberta Rampton)

Weinstein Co, Goldman agree debt restructuring-WSJ

(Reuters) – Movie studio The Weinstein Co has agreed to a major debt restructuring that gives Goldman Sachs Group Inc (GS.N) and Assured Guaranty Ltd (AGO.N) possession of as many as 250 films in its library, the Wall Street Journal said.

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The restructuring, finalised by the companies on Wednesday, is designed to allow Weinstein Co to continue as a going concern and resolve the financial struggles that beset the studio shortly after it opened in 2005, the paper said.

As part of the restructuring deal, Goldman has agreed to subtract $115 million from Weinstein Co’s total outstanding debt of $450 million, the newspaper said.

Any interest payments owed by Weinstein Co on the debt were eliminated in the agreement, the Journal reported.

Goldman and Assured Guaranty, which insured some of the company’s debt, will also own a small portion of Weinstein Co’s future projects, the report said.

If Weinstein Co can pay off the $335 million through film library revenue, it will emerge debt free and be able to reclaim ownership of those 250 movies, the newspaper said.

Weinstein Co and Goldman could not be immediately reached for comment by Reuters outside normal U.S. business hours.

Harvey and Bob Weinstein founded the company after they sold Miramax Films, the powerhouse studio behind such 1990s movies as “Pulp Fiction” and “Shakespeare in Love,” to Walt Disney Co (DIS.N).

Over the years, Goldman has helped raised hundreds of millions of dollars to finance Weinstein Co’s projects. (Reporting by Anne Pallivathuckal in Bangalore; editing by Simon Jessop)

Greece 2010 deficit reduction on target – PDMA slides

June 22 (Reuters) – Greece’s plan to reduce its budget deficit in 2010 is on target, prepared slides for the head of the country’s debt management agency (PDMA) at a bond conference in London showed on Tuesday.

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The slides for PDMA chief Petros Christodoulou showed the government had already achieved a 40 percent reduction in deficit in first five months of 2010.

This was before the full implementation of the additional measures introduced in March and May, according to the slides. (Reporting by Emelia Sithole-Matarise and Ian Chua)

Chevron’s Utah oil line shut after spill-official

June 13 (Reuters) – A pipeline carrying mid-grade crude oil to Chevron Corp’s (CVX.N) 45,000 barrel per day (bpd) Salt Lake City refinery was shut on Saturday after leaking oil into a creek that feeds Utah’s Great Salt Lake, said a fire department spokesman on Sunday.

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“We’re estimating 500 barrels were spilled,” said Salt Lake City Fire Department spokesman Scott Freitag in a telephone interview.

A Chevron spokesman was not immediately available to discuss refinery operations.

Freitag said the department did not receive notice from the refinery that it shutting production units due to the pipeline shutdown.

Temporary dams were built along Red Butte Creek to prevent the crude from spreading further.

Chevron told the fire department it would take several weeks to clean the oil from all the waterways it might have spread into, Freitag said.

Red Butte Creek is one of a system of waterways that feeds the Jordan River, which supplies the Great Salt Lake. (Reporting by Erwin Seba; Editing by Marguerita Choy)

German gov’t would not guarantee EIB loans to Opel

June 11 (Reuters) – The German federal government would not approve guarantees for European Investment Bank (EIB) loans to General Motors’ European unit Opel, a spokeswoman for the Economy Ministry said on Friday.

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Opel said this week that the EIB was one alternative route for assistance that it was following. Chancellor Angela Merkel has ruled out German federal aid for Opel but said she would speak to leaders of the states to see how they can help.

U.S. stock futures inch higher; Wendy’s eyed

* U.S. stock index futures pointed to a slightly higher open on Wall Street on Friday following the previous session’s strong gains, with futures for the S&P 500 SPc2 up 0.24 percent, Dow Jones DJc2 futures up 0.19 percent and Nasdaq 100 NDc2 futures up 0.15 percent at 0944 GMT.

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* Oil held at around $75 as investor confidence in China’s growth eclipsed data showing weaker-than-expected industrial output for the country in May.

* Japan’s Nikkei .N225 climbed 1.7 percent, while European stocks were up 0.9 percent in morning trade, with BP (BP.L) rebounding 7 percent as investors welcomed support from British politicians for the oil giant, eclipsing news that U.S. government scientists have doubled their estimate of the amount of oil gushing out of the ruptured well.

* The euro was supported on Friday on the back of higher stocks, but the single currency struggled to extend its short-covering rally versus the dollar ahead of technical resistance, while options barriers also capped gains.

* Wendy’s Arby’s Group Inc (WEN.N) shares jumped 10.8 percent to $4.81 in extended trading on Thursday after investor Nelson Peltz said he received an oral inquiry from a third party expressing interest on a preliminary basis in a potential acquisition involving the company. Shares of the company traded in Frankfurt (TQK.F) were up 13 percent.

* Dell Inc (DELL.O) will be in the spotlight after saying late on Thursday it is in talks to settle a U.S. Securities and Exchange Commission investigation into its accounting practices and its relationship with chipmaker Intel Corp (INTC.O), and said it has established a $100 million reserve for a potential settlement. Dell shares traded in Frankfurt (DELL.F) were down 0.9 percent.

* National Semiconductor Corp (NSM.N) delivered a margin and revenue forecast above Wall Street estimates, signaling that demand is bouncing back after an horrendous 2009 for the microchip industry. Stock in the company rose 2 percent in extended trade on Thursday.

* On the macro side, the Commerce Dept is due to release the May retail sales, at 1230 GMT, while the Thomson Reuters/University of Michigan Surveys of Consumers release June preliminary consumer sentiment index, at 1355 GMT, and the Commerce Department issues Business Inventories for April, at 1400 GMT.

* U.S. stocks posted their best day in the last nine on Thursday in response to signs of health in the euro debt market and as investors snapped up energy shares crushed in the previous day’s sell-off.

* The Dow Jones industrial average .DJI jumped 273.28 points, or 2.76 percent, to 10,172.53. The Standard & Poor’s 500 Index .SPX rose 31.15 points, or 2.95 percent, to 1,086.84. The Nasdaq Composite Index .IXIC gained 59.86 points, or 2.77 percent, to 2,218.71. (Reporting by Blaise Robinson; Editing by Mike Nesbit)

US Bancorp sells $1 bln three-year notes – IFR

June 9 (Reuters) – US Bancorp (USB.N) on Wednesday sold $1 billion of three-year notes, said a market source familiar with the sale.

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The 2.00 percent notes were priced at 99.875 to yield 2.043 percent, or 85 basis points over comparable U.S. Treasuries, according to IFR.

The joint lead managers on the sale were Goldman Sachs, Morgan Stanley and USB. (Reporting by Caryn Trokie; Editing by James Dalgleish)

US Treasury to net $2.97 mln on First Financial warrants

June 3 (Reuters) – The U.S. Treasury Department said on Thursday that it will take in net proceeds of about $2.97 million from the sale of warrants in First Financial Bancorp (FFBC.O) that were priced at $6.70 each.

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The sale of 465,117 warrants is expected to close on or about June 8, Treasury said in a statement, providing U.S. taxpayers with an additional return on the government’s preferred stock investment in the bank, which was previously repaid. (Reporting by Glenn Somerville; Editing by Neil Stempleman)

German body opposed to aid for GM’s Opel -paper

June 1 (Reuters) – An independent body advising Berlin on state aid to ailing firms opposed General Motors [GM.UL] unit Opel’s request for state loan guarantees worth more than one billion euros ($1.23 billion), a newspaper said on Tuesday.

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The Financial Times Deutschland said, without naming its sources, that the advisory body found no business reasons to extend any loan guarantees to Opel even after the unit had signed a restructuring deal with its workforce.

A spokeswoman for the economics ministry declined to comment on the report. She said she expected the advisory body to announce its decision on Tuesday.

The advisory body is composed of business experts, such as Michael Rogowski, former head of the German Industry Association and ex-trade union leader Hubertus Schmoldt.

Its recommendation is not binding and serves as input for a government committee that goes through a formal procedure to study any company’s request for state aid.

The committee includes state secretaries from government ministries and federal states that are home to Opel factories. A representative from the office of Chancellor Angela Merkel is also a member.

Economics minister Rainer Bruederle, who has been sceptical about Opel’s request for state aid, will make the final decision.

A restructuring deal at Opel was signed into effect on Monday that aims to save 265 million euros ($325 million) in annual wage costs through 2014. European union and workforce representatives from countries hosting Opel’s major factories also signed the deal with Opel Chief Executive Nick Reilly. [ID:nLDE64U21Y] ($1=.8163 EURO) (Reporting by Gernot Heller; Writing by Marilyn Gerlach in Frankfurt; Editing by Louise Heavens)

U.S. stock futures signal drop on recovery doubts

* U.S. stock index futures pointed to a sharply lower open on Wall Street on Tuesday following a long holiday weekend, as mounting doubts over the pace of the global economic recovery hit stocks worldwide.

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* Futures for the S&P 500 SPc1 were down 1.7 percent, Dow Jones DJc1 futures down 1.4 percent and Nasdaq 100 NDc1 futures down 1.3 percent at 0840 GMT.

* Investors were rattled by data showing manufacturing growth in China and South Korea slowed down in May as the pace of new orders eased amid growing uncertainty over what damage Europe’s debt crisis may do to Asia’s export-dependent economies. [ID:nSGE65003E]

* Manufacturing activity in the euro zone expanded in May at a considerably more sluggish pace than April’s 46-month high as firms let off the production accelerator, a survey showed on Tuesday. [ID:nSLAVGE65K]

* European stocks tumbled 2 percent in morning trade, with BP (BP.L) plummeting 13 percent following the company’s failed attempt to stem the worst oil spill in U.S. history over the weekend. BP stock has lost more than a third of its value since the oil spill started six weeks ago.

* Adding to investor concerns, the European Central Bank said euro zone banks face another 195 billion euros ($239 billion) in potential writedowns to the end of 2011 in a second round of losses from the financial crisis. [ID:nLAG006303]

* Advanced economies face years of anaemic growth and the risk of a double-dip recession as their citizens cope with sluggish employment and highly indebted governments, economist Nouriel Roubini said on Monday. [ID:nN31251246]

* Dubai Holding Commercial Operations Group (DHCOG) posted a $6.2 billion loss for 2009 on Tuesday due to Dubai’s property crash and said it had access to emergency funding if needed.

DHCOG said it was in talks with banks to roll over debt, was considering asset sales and was renegotiating balances owed to trade creditors after the crash put its cash flow under severe pressure. [ID:nLDE65003U]

* Prudential’s (PRU.L) bid for rival AIG’s (AIG.N) Asian unit appeared close to collapse after AIG rejected the British insurer’s lowered offer of $30.38 billion in cash and shares. [ID:nTOE64U07Y]

* Apple Inc (AAPL.O) said it sold 2 million iPads since launching the touch-screen tablet in the United States nearly two months ago and taking it to nine international markets this past weekend.

* Investors awaited a flurry of macro data, including April construction spending as well as the Institute for Supply Management’s May manufacturing index.

* U.S. stocks fell on Friday, capping off their worst month in over a year as a downgrade by Fitch of Spain’s credit rating reignited worries about euro-zone debt issues.

* The Dow Jones industrial average .DJI dropped 122.36 points, or 1.19 percent, to 10,136.63. The Standard & Poor’s 500 Index .SPX fell 13.65 points, or 1.24 percent, to 1,089.41. The Nasdaq Composite Index .IXIC declined 20.64 points, or 0.91 percent, to 2,257.04. (Reporting by Blaise Robinson; Editing by Sharon Lindores)

WRAPUP 4-BP, Obama face clamor to halt oil spill ‘crime’

* BP’s ‘top kill’ failure triggers anger, frustration

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* Lawmaker calls worst U.S. spill “environmental crime”

* Next BP well containment option could take 4-7 days

* Only surer solution is relief well, two months away (Updates with White House statement, details)

By Ed Stoddard and Sarah Irwin

VENICE, La., May 30 (Reuters) – U.S. lawmakers and local residents clamored on Sunday for BP and the Obama administration to do more to save the Gulf Coast from an out-of-control oil spill that has become the biggest environmental catastrophe in the country’s history.

One congressman called the nearly six-week oil gush in the Gulf of Mexico an “environmental crime,” while a Louisiana senator demanded BP invest $1 billion immediately to protect the region’s treasured marshlands.

The failure on Saturday of a “top kill” technique attempted by London-based BP (BP.L) to try to seal its leaking Gulf well has unleashed a surge of anger and frustration that poses a major domestic challenge for President Barack Obama.

Obama, who has called the leaking BP well a “man-made disaster,” is trying to fend off criticism that his administration acted too slowly in its response to the spill, now known to be the worst in U.S. history.

He is in a bind because it appears only BP can stop the leak, although he has made clear the government is in charge. But critics say he has not directed enough resources to the unfolding disaster and he has been present enough.

The White House said on Sunday that the government will triple clean-up resources in areas affected by the spill, while the administration’s top energy and environment officials head back to the Gulf this week following Obama’s second visit on Friday.

“This is probably the biggest environmental disaster we have ever faced in this country,” top White House energy adviser Carol Browner told NBC’s “Meet the Press.”

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

TAKE A LOOK on the spill [ID:nSPILL]

BREAKINGVIEWS: [ID:nN28122201]

INSIDER TV: link.reuters.com/wuw64k

Graphic: link.reuters.com/neh56k

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

BP, its reputation and market value already battered by the catastrophic spill, and the entire U.S. oil industry face more probing questions about why safety backups did not accompany their pursuit of oil in ever deeper offshore waters.

“I think without question if the word criminal should be used in terms of an environmental crime against our country, that what’s going on in the Gulf of Mexico is going to qualify,” U.S. Representative Ed Markey told CBS’ “Face the Nation.”

Department of Justice officials are part of an ongoing federal investigation into the April 20 rig explosion that triggered the spill, and the Obama administration has not ruled out the possibility of a criminal prosecution.

In Louisiana, which has borne the brunt of the oil spill impact so far, local authorities demanded that BP and the federal government rush a plan to create a sand barrier to the oil by dredging and building up outlying sandbanks and islets.

“I’m devastated … We are dying a slow death, every time that oil takes out a piece of the marsh, a piece of Louisiana is gone forever,” said Billy Nungesser, president of Plaquemines Parish, where the oil has clogged wetlands.

“Even the government seems powerless and all the experts. If these people can’t stop it, then who in the name of God can?” Father Gerry, a priest at St. Patrick Catholic Church in Port Sulphur, Louisiana, said, his voice heavy with emotion.

‘OIL COMING UP UNTIL AUGUST’

After giving up on Saturday an attempt to pump heavy fluids and blocking materials into the leaking well to “kill” it, BP is pursuing another option from its undersea toolbox.

But BP warns that the new procedure, which will try to fit a containment cap over the leaking well, could take between four and seven days. Even then success is not guaranteed because it has never been attempted before at the depth — a mile (1.6 km) down — where the oil is leaking.

BP Managing Director Robert Dudley told NBC’s “Meet the Press” the company would know by the end of the week whether the new containment effort worked. [ID:nN30243982]

The next BP step would involve undersea robots using diamond-rimmed saws to cut off a pipe over the well to put in place a containment device that would try to siphon off most of the leaking oil and gas up to a tanker ship on the surface.

Dudley said he did not think BP CEO Tony Hayward, who has faced heavy criticism, should be forced to resign.

A surer solution to the leak, a relief well already being drilled, is not expected to be finished until early August.

This means crude oil continues to spew out daily, feeding a huge, fragmented slick that has already polluted marshlands teeming with wildlife and rich fisheries in Louisiana.

“There could be oil coming up until August.” Browner told CBS’s “Face The Nation,” “We are prepared for the worst.”

Louisiana Senator Mary Landrieu called on BP to immediately invest $1 billion to protect marshes, wetlands and estuaries across the region. “While we may not be able to plug the leaking well right away, there is nothing that should stop us from getting help to the Gulf Coast immediately,” she said.

OBAMA’S ‘KATRINA’?

Gulf residents fear the spilled oil could be whipped further inshore by what promises to be the most active Atlantic storm season since 2005, the year of Hurricane Katrina.

That deadly storm proved a political disaster for President George W. Bush, who was accused of complacency in handling it, and Obama is fighting to prevent the Gulf spill from becoming his own “Katrina” ahead of the November congressional elections.

Louisianians still recovering from Katrina’s devastation were frustrated by the oil spill response. “It’s been a screw-up from day one. Nothing was at the ready and no one was in a position to respond,” said Claude Marquette, a retired physician, 68, speaking as he sat with his wife in his boat.

BP’s Hayward had predicted that despite risks, the “top kill” had a 60 to 70 percent chance of success. He said he did not know why it failed to stop the gusher.

The misstep is likely to drive his credibility lower, along with his company’s market value, which has dropped by 25 percent since the Deepwater Horizon rig exploded on April 20, killing 11 workers, and triggering the spill.

The government estimated last week that 12,000 to 19,000 barrels (504,000 to 798,000 gallons/1.9 million to 3 million liters) a day are leaking from the well. At that rate, the government now knows that the Gulf disaster has surpassed the 1989 Exxon Valdez spill in Alaskan waters. (Additional reporting by Ayesha Rascoe, Rachelle Younglai and Alan Elsner in Washington, Pascal Fletcher in Miami, Eileen O’Grady in Houston and Patricia Zengerle in Chicago; Writing by Pascal Fletcher and Mary Milliken; Editing by Eric Beech)

Bradesco plans $250 mln of 3-year bonds – sources

SAO PAULO, April 14 (Reuters) – Banco Bradesco (BBDC4.SA) (BBD.N), Brazil’s second-largest private sector bank, plans to sell $250 million of senior, fixed-rate bonds, sources with direct knowledge of the plans said on Wednesday.

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Bradesco, which will sell the debt through its Grand Cayman branch, hired Bank of America Merrill Lynch, HSBC, BES Investimento and its own Bradesco BBI unit as bookrunners of the bond sale. (Reporting by Elzio Barreto and Guillermo Parra-Bernal; Editing by James Dalgleish)

Fannie Mae to sell 2-year benchmark notes on Thurs

NEW YORK, April 14 (Reuters) – Fannie Mae (FNM.N) (FNM.P), the largest U.S. home funding source, is planning to sell new two-year benchmark notes on Thursday, according to a market source on Wednesday who was familiar with the sale.

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The notes are expected to yield about 25 basis points over comparable U.S. Treasuries, the source added.

Fannie Mae has hired Barclays, Citigroup and UBS to manage the sale. (Reporting by Caryn Trokie; Editing by James Dalgleish)

Fannie Mae sells $5 bln bills at lower rates

NEW YORK, April 14 (Reuters) – Fannie Mae (FNM.N) (FNM.P), the largest U.S. home funding source, on Wednesday said it sold $5 billion of benchmark bills at lower interest rates compared with rates in last week’s auction of the same maturities.

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Fannie Mae said it sold $2 billion of three-month bills due July 14, 2010, at a stop-out rate, or lowest accepted rate, of 0.168 percent compared with a 0.175 percent rate for $2 billion bills sold on April 7.

The agency also sold $3 billion of six-month bills due Oct. 13, 2010, at a 0.278 percent stop-out rate compared with a 0.294 percent rate for $3 billion six-month bills sold last week.

The three-month bills were priced at 99.958 with a money market yield of 0.168 percent, and the six-month bills were priced at 99.859 with a money market yield of 0.278 percent, according to Fannie Mae.

Settlement is April 14-15. (Reporting by Pam Niimi; Editing by Theodore d’Afflisio)

Wall St futures signal gains on upbeat Intel results

* U.S. stocks futures rose on Wednesday, pointing to a higher start for Wall Street after the world’s top chipmaker Intel Corp (INTC.O) posted better-than-expected first-quarter results and gave an outlook that topped Wall Street forecasts.

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* By 0818 GMT, futures for the Dow Jones DJc1 rose 0.2 percent, S&P 500 futures SPc1 were up 0.2 percent and Nasdaq futures NDc1 climbed 0.4 percent.

* Intel Corp’s (INTC.O) above-forecast sales and margin expectations, which were released after U.S. markets closed on Tuesday, reinforced hopes for an acceleration in the technology sector’s recovery and lifted tech stocks in Europe and Asia. [ID:nN1382801]

* Intel shares in Frankfurt (INTC.F) rose 4.3 percent.

* JPMorgan Chase (JPM) is expected to release first-quarter results before U.S. markets open on Wednesday, with analysts forecasting the bank to post earnings per share of $0.64 compared to $0.40 a year ago on hopes of a healthier mortgage and loans sector.

* Other companies reporting quarterly results on Wednesday include W.W.Grainger (GWW.N) and Yum! Brands (YUM.N).

* U.S. stocks eked out a gain on Tuesday as investors looked ahead to earnings from big banks and tech bellwethers even as disappointing revenue from Alcoa Inc (AA.N) acted as a headwind.

* Shares of CSX Corp (CSX.N) rose more than 3 percent after the bell on Tuesday to $54.70 following the release of the company’s first-quarter results. [ID:nASA007ZB]

* Semiconductor company Advanced Micro Devices (AMD.N) rose 3.2 percent to $9.27 after the bell, buoyed by Intel’s results.

* Linear Technology Corp (LLTC.O) rose more than 3 percent to $30.65 after the bell, following the release of the company’s quarterly results.

* U.S President Barack Obama will try to turn up the pressure for an overhaul of Wall Street regulations as he meets on Wednesday with top Democratic and Republican lawmakers to discuss a sweeping package of reforms.

* Richmond Federal Reserve Bank President Jeffrey Lacker said on Tuesday he thinks the time to drop the Fed’s promise to hold rates low for a long time might be drawing nearer. Fed Chairman Ben Bernanke is scheduled to discuss the economic outlook in a congressional testimony on Wednesday.

* Data set for release on Wednesday include MBA 30-year mortgage rate and MBA purchase index for the week ahead at 1100 GMT, retail sales and consumer prices for March at 1230 GMT and February’s business inventories at 1400 GMT. (Reporting by Harpreet Bhal; Editing by Jon Loades-Carter)