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  • *Fed cuts monthly bond buying by $10 billion. WASHINGTON, July 30- The Federal Reserve on Wednesday upgraded its assessment of the U.S. economy, taking note of a decline in the jobless rate and signaling more comfort that inflation was moving up toward its target.

  • G-7 leaders say more Russia sanctions possible Wednesday, 30 Jul 2014 | 2:22 PM ET

    WASHINGTON— The United States and European leaders say they're prepared to intensify sanctions against Russia unless it moves to de-escalate the crisis in Ukraine. The Group of Seven world leaders say in a statement that Russia hasn't changed course despite the downing of a Malaysia Airlines jet.

  • *The central bank cut its monthly asset purchases to $25 billion from $35 billion, leaving it on course to shutter the program this fall. KIM RUPERT, MANAGING DIRECTOR AT ACTION ECONOMICS IN SAN FRANCISCO:. OMER ESINER, CHIEF MARKET STRATEGIST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON:.

  • Text of the Federal Reserve's statement Wednesday Wednesday, 30 Jul 2014 | 2:11 PM ET

    WASHINGTON— Below is the statement the Fed released Wednesday after its policy meeting:. Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second quarter. Labor market conditions improved, with the unemployment rate declining further.

  • Asia a hard sell for Russian firms seeking cash Wednesday, 30 Jul 2014 | 1:44 PM ET

    *Flows of Russian wealth to Singapore rising. *Banks in Singapore are clamping down on who they let in. New sanctions imposed by Washington and Europe over the Ukraine crisis have prompted firms such as VTB- Russia's second-largest bank by assets- and Gazprombank to look east for new sources of funding.

  • Correction: Debt Study story Wednesday, 30 Jul 2014 | 1:43 PM ET

    WASHINGTON— In a story July 29 about consumer debt reported to collection agencies, The Associated Press erroneously indicated that 80 percent of Americans have no debt on file. The study released Tuesday by the Urban Institute found that 20 percent of Americans with credit records have no debt on file.

  • Feds probing for fraud in DC building projects Wednesday, 30 Jul 2014 | 1:37 PM ET

    WASHINGTON— Federal investigators looking for fraud in the nation's capital are scrutinizing a program meant to give local contractors a share of major construction projects, people familiar with the probe have told The Associated Press. Three people in contact with investigators say the FBI and the U.S.

  • Probe exposes flaws behind HealthCare.gov rollout Wednesday, 30 Jul 2014 | 1:13 PM ET

    After a months-long investigation, the Government Accountability Office found that the administration lacked "effective planning or oversight practices" for the development of HealthCare.gov, the portal for millions of uninsured Americans.

  • NEW YORK, July 30- A Connecticut lawmaker on Wednesday launched the first national effort in years to tax soda drinks, the latest bid by regulators and politicians to stem rising obesity and diabetes rates by curbing the consumption of sugary drinks.

  • Ex-IRS official called conservatives 'crazies Wednesday, 30 Jul 2014 | 12:24 PM ET

    A key GOP lawmaker says the remarks show that Lois Lerner was biased against conservative groups and targeted them for extra scrutiny. In a series of emails with an associate in November 2012, Lerner made two disparaging remarks about some members of the GOP, including one remark that was a profane characterization.

  • Secretary of State John Kerry, who arrived in India on Wednesday for an official visit, has pressed New Delhi to drop its opposition to global trade reforms, saying it was a test of the country's commitment to advance economic liberalisation.

  • GOP blocks tax hike on firms moving overseas Wednesday, 30 Jul 2014 | 11:20 AM ET

    The Senate voted 54-42 to end debate on the bill, six short of the 60 votes needed to advance it. The White House says President Barack Obama supports the legislation.

  • WASHINGTON, July 30- Republican congressman Paul Ryan on Wednesday slammed the U.S. Export-Import Bank as a purveyor of "crony capitalism" that mainly helps a few large companies, and said Congress should focus instead on market reforms that speed growth for all firms.

  • ISTANBUL/ LONDON, July 30- Iraqi Kurdistan's attempts to export oil independently of Baghdad hit another obstacle on Wednesday, as a Turkish energy official and industry sources said the autonomous region's pipeline to the Mediterranean has been shut for the past week.

  • UPDATE 1-Carlyle's second-quarter earnings double Wednesday, 30 Jul 2014 | 10:28 AM ET

    *Q2 post-tax ENI of 73 cents/ share vs estimated 74 cents. July 30- Carlyle Group LP said on Wednesday its second-quarter earnings doubled from a year earlier as one of its European buyout funds started paying performance fees, highlighting the growth potential of its private equity business in Europe.

  • Some Ukrainian rebels vent frustration with Putin Wednesday, 30 Jul 2014 | 10:03 AM ET

    DONETSK, Ukraine, July 30- Western leaders may be Vladimir Putin's biggest critics over the conflict in east Ukraine but the Russian leader is also facing criticism from some of the rebels they accuse him of arming.

  • MOSCOW, July 30- Russia's second largest natural gas producer Novatek said on Wednesday it was assessing the impact of U.S. sanctions on the financing of joint investment projects. The company repeated that its key projects would go ahead despite sanctions imposed by Washington over Moscow's actions in Ukraine.

  • *Poland says ban is retaliation for EU sanctions on Russia. MOSCOW/ WARSAW, July 30- Russia announced a ban on most fruit and vegetable imports from Poland on Wednesday and said it could extend it to the entire EU, a move Warsaw called Kremlin retaliation for new Western sanctions over Ukraine imposed on Russia a day earlier.

  • MOSCOW/ KIEV, July 30- Russia fought back on Wednesday over new U.S. and EU sanctions imposed over Ukraine, where fighting between Moscow- backed rebels and government troops has intensified since a Malaysian airliner was shot down.

  • DUBLIN, July 30- Ireland is in the firing line from Washington again for luring U.S. companies to its shores for tax benefits, but despite contrite noises coming from Dublin, it has too much to lose to discourage U.S. firms bent on shifting their tax domiciles.