We Dodger Stadium are expecting some shocks

"We unveils are expecting details some shocks along the way and that's whythe caution and watchfulness." TCS and local rivals Infosys Technologies (INFY.BO) andWipro (WIPR.BO) also face competition from big players such asIBM (IBM.N), Accenture (ACN.N) and Hewlett-Packard (HPQ.N) whohave raided their home turf and are winning contracts "Pricing.. this year will not go up. India's top software services firm by sales saw a healthy dealpipeline, although its overseas customers were looking forlower prices as they worked to shore up their businesses, "The environment continues to be weak. We need to watch thesituation very carefully on the ground," Chief Executive S.Ramadorai, who will retire later this year after 13 years atthe helm, told reporters. * Apr-June net profit up 22 percent to 15.20 billion rupees * Business, pricing environments remain tough * Staff levels fall in qtr for first time ever(Adds details) By Narayanan Somasundaram MUMBAI, July 17 (Reuters) - Tata Consultancy Services Ltd(TCS.BO) beat forecasts with a 22 percent rise in quarterlyprofit, but said the business environment remained weak andthere was pressure on fees due to the global economicdownturn. ($1=.7089 Euro) (Reporting by Reed Stevenson; Editing by Jon Loades-Carter) Stocks Private Capital.

V&D is part of Dutch retail group Maxeda, which was boughtby KKR and private equity funds Permira [PERM.UL], Cinven[CINV.UL] and AlpInvest Partners in 2004 for 2.4 billion euros($3.39 billion) . "The parties understand each other's position," FNV DirectorHenk van der Ploeg said in a statement . "V&D is now in a trough,but not in a position where jobs should be lost." Under a new collective labour agreement, which runs for ayear from February to July of 2011, V&D has promised not toadopt any reorganisations and employees will receive holidaydays instead of a lump sum payment . Stocks  |  Private Capital V&D withdrew its request for staff to delay a pay rise tosave jobs in the recession, a measure opposed by Dutch unionFNV . (Reporting by Clara Vilar and Judy MacInnes; additional reporting by TomBergin, Joseph Chaney and Michael Flaherty; Editing by Rupert Winchester) Stocks China Russia Argentina.

AMSTERDAM, July 17 (Reuters) - V&D, a Dutch department storechain partly owned by private equity firm Kohlberg KravisRoberts & Co [KKR.UL], reached an agreement on Friday with itsunion on a disputed wage deal . For that reason, it is unlikely that a formal joint bid for YPF will besubmitted on paper in the next few days, the banker added . On the possible timing of a China offensive on YPF, an investment bankerwith direct knowledge of the YPF auction told Reuters on Friday that China'senergy majors, including CNPC and CNOOC often butt heads like rival siblingswhen it comes to negotiating with China's government about deals . Itsupstream exposure would be less but it could buy other assets . . It could alsokeep the cash in hand," one analyst said. "Idon't think it would be a problem if Repsol sold all of YPF.

Repsol has not reaped enormous dividends from YPF, so taking into accountthe financial costs, the acquisition can be seen as less than successful It has been looking to sell a stake in YPF for some time and has beenconsidering a public share offer, which has been scuppered by the globalfinancial crisis . YPF controls over half of Argentina's refining capacity and nearly 40percent of the country's oil output It accounts for three quarters of Repsol'sproduction . But its fields are ageing and some analysts are of the opinion that ifRepsol sells out a reasonable price, this will be a good move . Repsol bought 85 percent of YPF in 1999 for $13.4 billion after paying $2billion for 15 percent of the firm . Last year, the deal with the Eskenazi's Petersen Group valued YPF at $15billion, while the offers touted currently raise this to $17-18 billion, whichonly implies a modest premium for shareholders. Eskenazi alsohas the option to buy a further 10 percent of YPF before 2012. YPF's three core shareholders are Repsol with 84 percent, local businessmanEnrique Eskenazi with 15 percent and the Argentine government, which has theright to veto any bid affecting over 15 percent of the company.