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  • LIMA, July 10- Peru's central bank surprised the market by lowering the benchmark interest rate a quarter percent to 3.75 percent on Thursday, citing sluggish growth and stressing that more cuts will not necessarily follow. The central bank sees Peru's potential growth rate, the pace at which GDP can rise without fanning inflation, at 6 percent.

  • LIMA, July 10- Peru's central bank surprised the market by cutting the benchmark interest rate a quarter percent to 3.75 percent on Thursday, citing sluggish economic growth and saying it is not the start of a series of reductions.

  • Business Highlights Thursday, 10 Jul 2014 | 6:06 PM ET

    LISBON, Portugal— The specter of Europe's financial crisis is back to haunt investors. The tensions center on Espirito Santo International, a holding company that is the largest shareholder in a group of Espirito Santo family companies, including the parent of Portugal's largest bank, Banco Espirito Santo.

  • NEW YORK/ LONDON, July 10- Gold surged to 3-1/ 2 month highs on safe-haven buying on Thursday after questions raised about the health of Portugal's top-listed bank sparked worry that a new euro zone banking crisis might be in the offing.

  • CAMBRIDGE, Mass, July 10- The Federal Reserve's new vice chair all but dismissed the idea of breaking up the largest U.S. banks, saying on Thursday it is unclear that such a complex task would help stabilize the country's financial system.

  • AP Top Financial News At 5:06 p.m. EDT Thursday, 10 Jul 2014 | 5:06 PM ET

    Federal judge orders IRS to explain lost emails US stocks slide over European banking worries Mayor: Atlantic City shift from gambling painful Fed No. 2 Fischer says care needed to avert crisis Aereo presses case despite Supreme Court setback Portuguese bank fears rekindle euro market tension FTC sues Amazon over kids' app charges Agriculture industry seeks to create right to farm WellPoint CEO: Insurer readies for technology wave Oil rises for first time in 2 weeks, near $103

  • How the Dow Jones industrial average did Thursday Thursday, 10 Jul 2014 | 4:55 PM ET

    Stocks fell Thursday as worries about the soundness of a European bank spooked U.S. investors, prompting them to sell off stocks and snap up less risky assets like gold and governments bonds.

  • Fed No. 2 Fischer says care needed to avert crisis Thursday, 10 Jul 2014 | 4:40 PM ET

    WASHINGTON— The Federal Reserve's new No. 2 official says regulators must continue to work to end the need for the government to bail out big banks in a crisis. Fischer, a former official of the International Monetary Fund and a head of the Bank of Israel, said regulators "need to be vigilant" in trying to prevent the next crisis— "and there will one."

  • AP Top Financial News At 4:16 p.m. EDT Thursday, 10 Jul 2014 | 4:16 PM ET

    Aereo presses case despite Supreme Court setback Portuguese bank fears rekindle euro market tension US stocks lower due to European banking worries FTC sues Amazon over kids' app charges Agriculture industry seeks to create right to farm WellPoint CEO: Insurer readies for technology wave Oil rises for first time in 2 weeks, near $103 US, China talk cyberhacking amid new allegations Stigmatized nuclear workers quit Japan utility Boeing to offer more bin space on some new planes

  • AP Top Financial News At 3:15 p.m. EDT Thursday, 10 Jul 2014 | 3:15 PM ET

    FTC sues Amazon over kids' app charges US stocks lower due to European banking worries WellPoint CEO: Insurer readies for technology wave Stigmatized nuclear workers quit Japan utility Portuguese bank fears rekindle euro market tension US unemployment aid applications fall to 304,000 Federal judge orders IRS to explain lost emails Ace Cash Express settles debt collection claims More' headline-grabbing' corporate deals expected US, China talk cyberhacking amid new allegations

  • July 10- The Federal Reserve, after a long campaign to become more transparent, now appears to be unhappy that it is so well understood. To be sure, they have a point about overconfidence: this is the week in which a little-known social media company with one employee and no revenue achieved a market cap of over $5 billion.

  • CAMBRIDGE, Mass, July 10- The Federal Reserve's new vice chair all but dismissed the idea of breaking up the largest U.S. banks, saying on Thursday it is unclear that such a complex task would help stabilize the country's financial system.

  • NEW YORK, July 10- The yen hit a five-month high against the euro and an almost two-month high against the dollar on Thursday after concerns about Portugal's largest listed bank and weak Italian economic data hit European shares.

  • July 10- Certain economic formulas are pointing to a Federal Reserve interest rate hike as early as this year, a Fed official said on Thursday, according to Dow Jones.

  • BRASILIA, July 10- Brazil's government is in talks with commercial banks to lend at least 2 billion reais in emergency credit to electricity distributors as drought causes power rates to soar, a source with direct knowledge of the talks told Reuters on Thursday. Brazil's energy regulator on Wednesday extended the deadline for payment to the end of the month.

  • Portuguese bank already ran afoul of US in 2012 Thursday, 10 Jul 2014 | 1:30 PM ET
    Pedestrians pass an ATM outside the headquarters of Banco Espirito Santo SA, Portugal's biggest publicly traded bank, in Lisbon, Portugal.

    The Fed issued a cease-and-desist order and a $975,000 fine to Banco Espirito Santo for a violation in 2012.

  • LONDON, July 10- Investors across Europe trimmed their exposure to banks on Thursday in response to growing concerns about the health of Portugal's biggest listed lender, with a leading pan-European share index slipping to a two-month low.

  • Portugal bank woes     Thursday, 10 Jul 2014 | 12:14 PM ET

    Banco Espirito Santo was fined $975,000 by the Federal Reserve in 2012. CNBC's Michelle Caruso-Cabrera provides insight to the fine.

  • WASHINGTON, July 10- A surge of Republican pressure is bringing the Federal Reserve's long-held independence into question again, as conservative lawmakers seek to place the U.S. central bank under tougher scrutiny.

  • LONDON, July 10- Concern about the health of a parent company of Portugal's largest bank hurt bonds from the euro zone's periphery on Thursday, curbing demand at Greece's second debt sale following its 2012 default.

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