New York


  • *Merck up as results beat expectations, but Pfizer slips. United Parcel Service shares fell 3.1 percent to $99.47 after the world's biggest courier company slashed its earnings forecast for the year due to spending to boost capacity. Rival shipping company FedEx Corp was down 0.8 percent at $148.36.

  • NEW YORK, July 29- U.S. Thirty-year bond yields fell as low as 3.22 percent, the lowest since June 7 of last year. "The theme has really been the flattening," said Justin Lederer, an interest rate strategist at Cantor Fitzgerald in New York.

  • Argentina fights with debt holdouts; default nears Tuesday, 29 Jul 2014 | 2:31 PM ET

    BUENOS AIRES, Argentina— Argentina risks financial default unless it reaches an agreement with a group of holdout bondholders by Wednesday. The swap, however, failed to resolve Argentina's troubles. Argentina's government lined up two more swaps in 2005 and 2010, offering existing creditors new bonds worth much less than the old ones.

  • July 28- Tyson Foods Inc said on Monday it would sell its Mexican and Brazilian poultry businesses to JBS SA for $575 million and use the proceeds to pay down debt from its pending $7.7 billion purchase of Hillshire Brands Co..

  • CLEVELAND, July 29- Casablanca Capital triumphed on Tuesday in its proxy battle with miner Cliffs Natural Resources Inc, preliminary estimates show, putting the hedge fund in a position to replace Cliffs' chief executive and sell off underperforming assets.

  • GAZA/ JERUSALEM, July 29- Israel knocked out Gaza's only power plant and pounded dozens of other high-profile targets on Tuesday, while Egyptian mediators prepared a revised proposal for halting its war with Islamist militants in the enclave.

  • July 29- CVR Refining's 115,000- barrel-per-day refinery in Coffeyville, Kansas, was shut on Tuesday after a fire broke out at a unit that upgrades gasoline, injuring four employees.

  • *Has said he will fight if Russia resists paying $50 bln claim. MOSCOW/ TEL AVIV, July 29- Former Yukos executive and top shareholder Leonid Nevzlin will face an uphill struggle getting any of the money he lost when the Russian oil giant was seized and nationalized after falling foul of the Kremlin.

  • WASHINGTON/ NEW YORK, July 29- The long-anticipated merger of Sprint Corp and T-Mobile US Inc is not expected to occur before September, with the companies continuing due diligence and preparing a detailed case for a deal before U.S. regulators, according to people familiar with the matter.

  • JPMorgan paying $650K to settle CFTC charges Tuesday, 29 Jul 2014 | 1:47 PM ET

    WASHINGTON— JPMorgan Chase will pay $650,000 to settle charges by federal regulators that it filed inaccurate reports on the trading positions of some of its large customers.

  • *EU reaches deal on Russia sanctions, prompts short rally. Brent futures pared losses after news that European Union governments agreed on Tuesday to impose additional economic sanctions on Russia.

  • McDonald's: Regulator says it's a 'joint employer' Tuesday, 29 Jul 2014 | 1:31 PM ET

    NEW YORK— McDonald's Corp. says it has been notified by a labor regulator that it can be named a "joint employer" for workers in its franchisee-owned restaurants. The same is true for many other fast-food companies, including Burger King Worldwide Inc. and Yum Brands, which owns KFC, Taco Bell and Pizza Hut.

  • Midday Glance: Chemicals companies Tuesday, 29 Jul 2014 | 1:29 PM ET

    NEW YORK— Shares of some top chemicals companies are up at 1 p.m.:. Dow Chemical Co. rose$. 11 or. 2 percent, to $53.81. DuPont Co. rose $1.37 or 2.1 percent, to $66.69.

  • Midday Glance: Autos companies Tuesday, 29 Jul 2014 | 1:29 PM ET

    Ford Motor Co. rose$. 05 or. 3 percent, to $17.69. General Motors Co. fell$. 04 or. 1 percent, to $34.86. Honda Motor Co. rose$. 76 or 2.2 percent, to $35.94.

  • July 29- Four employees were hurt in a fire at CVR Refining's 115,000- barrel-per-day refinery in Coffeyville, Kansas, after a fire broke out at an isomerization unit early on Tuesday, the company said in a statement.

  • Argentina is out of legal options to avoid paying a court-ordered $1.33 billion, plus interest, to the holdout creditors who declined to restructure their bonds.

  • WASHINGTON, July 29- Homeownership in the United States hit a 19- year low in the second quarter as tight finances continued to drive Americans toward renting, one of the lasting legacies of the recession. The seasonally adjusted homeownership rate fell to 64.8 percent, the lowest level since the second quarter of 1995, the Commerce Department said on Tuesday.

  • July 29- Eaton Corp tempered its full-year profit forecast on Tuesday due to weaker margins in its electrical systems business and dented some Wall Street hopes for a near-term spin-off of its vehicle business, sending its shares down 6 percent.

  • Argentina officials in US for debt deadline talks Tuesday, 29 Jul 2014 | 12:29 PM ET

    The Argentina group, which included Lopez, Javier Pargament from Argentina's treasury office, and two lawyers, did not speak to reporters who waited outside a midtown Manhattan building. But talks have been sporadic and have failed to bring representatives of Argentina to the table with lawyers for U.S. hedge funds.

  • *Merck rises as results beat expectations, but Pfizer slips. Windstream Holdings jumped 12.8 percent to $11.88 in its busiest trading day on record after the company filed to spin off assets into a tax-efficient publicly-traded real estate investment trust.