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  • NEW YORK, July 31- U.S. stocks tumbled on Thursday, with the S&P 500 posting its worst daily decline since April and first monthly drop since January as economic data sparked concern that the Federal Reserve could raise interest rates sooner than some expect.

  • Debit overdraft fees often exceed cost of purchase Thursday, 31 Jul 2014 | 3:01 PM ET

    WASHINGTON— The fees that banks charge debit-card users who overdraw their accounts usually cost more than the items being bought. That's the result of a study that the Consumer Financial Protection Bureau released Thursday.

  • MOSCOW, July 31- VTB, Russia's second-largest bank by assets, and Gazprombank said they would continue to honour investor and shareholder obligations despite sanctions from Brussels that ban them from raising funds on EU capital markets.

  • TORONTO, July 31- Canadian Imperial Bank of Commerce has named wealth management head Victor Dodig as its next president and chief executive, replacing Gerry McCaughey who will retire in September.

  • *Default risks turning Bulgaria into " Argentina of Europe": source. BUCHAREST, July 31- Holders of dollar-denominated bonds at Bulgaria's Corporate Commercial Bank are gearing up for legal action against the government if the bond defaults and the bank is tipped into insolvency, two sources told Reuters on Thursday.

  • BONDHOLDERS MAY SUE BULGARIAN GOVERNMENT OVER POSSIBLE DEFAULT AT CORPORATE COMMERCIAL BANK- SOURCES.

  • NY Fed: Puerto Rico should seek economic reforms Thursday, 31 Jul 2014 | 12:05 PM ET

    SAN JUAN, Puerto Rico— New York's Federal Reserve Bank released a report Thursday in which it warned that Puerto Rico needs to improve its financial health soon or face what it called a "painful adjustment."

  • The 'dark pool' debate—here's what you need to know Thursday, 31 Jul 2014 | 11:04 AM ET

    CNBC takes a quick look at the dark pool trading platforms and why it's come under investigation.

  • LONDON, July 31- Gold fell to a six-week low on Thursday and was set for its second monthly drop since May as the dollar rose on optimism over the U.S. economy, which offset a message from the Federal Reserve that it is in no rush to raise interest rates.

  • US banks brace for $1T (as in trillion) outflows Thursday, 31 Jul 2014 | 9:07 AM ET

    An outflow of deposits would reverse a five-year trend of large amounts of cash pouring into banks thanks to the Fed, the FT reports.

  • NAIROBI, July 31- KCB Bank, Kenya's largest lender by assets, plans to raise funds from international debt markets for lending to the real estate sector, its CEO said after announcing a 16 percent jump in first-half profit.

  • Philippine central bank raises interest rate Thursday, 31 Jul 2014 | 7:00 AM ET

    MANILA, Philippines— The Philippine central bank has raised its key interest rate by a quarter percentage point to counter inflation. The rate the central bank charges commercial banks for overnight borrowing was Thursday raised to 5.75 percent.

  • Lloyds reports big drop in profits amid charges Thursday, 31 Jul 2014 | 6:12 AM ET

    LONDON— The part-nationalized Lloyds Banking Group says its six-month net profit more than halved to 699 million pounds after it put aside another 600 million pounds to cover the cost of improperly sold payment protection insurance. The group said Thursday the profit fell from 1.58 billion pounds a year earlier.

  • Shares in Portugal's troubled bank tank 50% Thursday, 31 Jul 2014 | 6:21 AM ET

    Shares in troubled Portuguese lender Banco Espirito Santo slumped 50 percent on Thursday, after trading in the stock resumed following poor results.

  • Q2 GDP partly offset by mixed Fed views. LONDON, July 31- The dollar held just below a 10- month high against a basket of currencies on Thursday after the Federal Reserve said it was in no rush to raise interest rates, tempering a rally that dates back to early May.

  • Swiss central bank reports $17.7B half-year profit Thursday, 31 Jul 2014 | 2:12 AM ET

    GENEVA— Switzerland's central bank posted a profit Thursday of 16.1 billion Swiss francs for the first half of the year, a big turnaround from its loss of 9 billion francs for 2013..

  • Credit Suisse probed by regulators about dark pools Thursday, 31 Jul 2014 | 1:58 AM ET
    Credit Suisse headquarters on Paradeplatz in Zurich, Switzerland

    Swiss bank Credit Suisse became the latest major European bank to say it was caught up in an investigation into alternative trading venues known as dark pools.

  • Banco Espirito Santo posts interim loss of $4.8B Thursday, 31 Jul 2014 | 1:20 AM ET
    The Portuguese bank Espirito Santo, in Barcelona, Spain.

    Banco Espírito Santo has posted a €3.58 billion loss, which shows the financial woes engulfing its main shareholder, the Espírito Santo family group.

  • China's yuan dips on central bank guidance Thursday, 31 Jul 2014 | 12:26 AM ET

    SHANGHAI, July 31- China's yuan weakened against the dollar on Thursday after the central bank set the daily midpoint at its lowest level since early June. The People's Bank of China set the midpoint rate at 6.1675 per dollar prior to market open, down 0.05 percent from the previous fix.

  • *Nintendo dives after dismal earnings. TOKYO, July 31- Japan's Nikkei share average rose to a fresh six-month high on Thursday after solid U.S. growth buoyed sentiment and as the weakening yen lifted exporters, while Sumitomo Mitsui Financial Group's earnings boosted the banking sector.

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