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  • The International Monetary Fund certainly thinks so, according to a new report in which it argues Greece should get help. But Germany, another major creditor to Greece, is resisting, even though it should know better than most what debt relief can achieve. The 1953 agreement, in which Greece and about 20 other countries effectively wrote off a large chunk of...

  • *Some caution prevails over long July 4 weekend, Greece and Iran. But with the Greek debt crisis unresolved and Iran nuclear talks pending, and Friday's U.S. The market is also expecting latest weekly estimate on the U.S. oil rig count from industry firm Baker Hughes at 1:00 p.m. EDT.

  • WARSAW, Poland— Beata Szydlo led a little-known politician to a surprise victory in Poland's recent presidential election. The 52- year-old who managed the election campaign of President-elect Andrzej Duda is traveling the country these days in hopes of becoming Poland's next prime minister in the fall parliamentary election. The rising prominence of...

  • Greek Prime Minister Alexis Tsipras during a parliamentary session in Athens, June 28, 2015.

    European equities closed mostly lower on Thursday, as investors awaited a high-profile referendum in Greece over the weekend.

  • WASHINGTON, July 2- The International Monetary Fund warned on Thursday that Greece would need an extension of its European Union loans and a potentially a large debt writeoff if it grows more slowly than expected and economic reforms are not implemented. The Washington- based institution, which is part of a "troika" that includes the European Commission and...

  • PROVIDENCE, R.I.— Five massive structures that will be attached to the ocean floor for the nation's first offshore wind farm are coming to Rhode Island. Deepwater Wind is building a five-turbine wind farm off Block Island, with the ability to power 17,000 homes as early as next year. Grybowski said he's anxious to see the first one touch the seabed— or, as it's known in...

  • July 2- The International Monetary Fund warned on Thursday that Greece would need an extension of its European Union loans and a large debt writeoff if it grows more slowly than expected and economic reforms are not implemented. The IMF warning in a preliminary draft of its latest debt sustainability report came as Greece readies for a Sunday referendum on an...

  • *Greece concerns hang over markets. NEW YORK, July 2- The U.S. dollar index fell from a three-week high on Thursday as chances of a U.S. interest rate hike as soon as September took a hit following a weaker-than-expected U.S. payrolls report, while Wall Street and world stock markets were slightly higher. Greece heads to a referendum on Sunday that could decide its...

  • *Indirect spillover from bonds in focus. LONDON, July 2- Europe's stock market has shown few signs of panic ahead of a referendum this weekend that may decide Greece's future in Europe. While Greece does not loom large on Europe's corporate radar in terms of direct exposure, any post-vote indirect spillover from credit markets is expected to knock banks via their...

  • July 2- BP has reached an $18.7 billion settlement of damages claims from the U.S. government and five states after the 2010 Gulf of Mexico oil spill. PAVEL MOLCHANOV, ANALYST AT RAYMOND JAMES:. "The total amount-- $18.7 billion-- obviously is a massive payout, but it's spread over 15 to 18 years, making it quite manageable from a cash flow standpoint.

  • TOULOUSE, France, July 2- Airbus signed an agreement on Thursday to set up its second plant on Chinese soil in a deal that the European planemaker hopes will lead to lucrative new plane orders. Airbus hopes the increased presence in China will lead to more demand for its profitable but aging wide-body A330, which is due to be revamped with new engines soon to boost...

  • NEW YORK— U.S. stocks fell in afternoon trading Thursday following the release of a mixed report on the U.S. job market and news that Greek finances are deteriorating as a Sunday referendum on terms of an international bailout nears. While U.S. payrolls grew overall, many people gave up looking for work and wage growth stalled. KEEPING SCORE: The Dow Jones...

  • *Europe bourses in 2015: http://link.reuters.com/pap87v. LONDON, July 2- European shares fell on Thursday under pressure from concerns over Greece's debt crisis and with a rebound in the euro weighing on exporters that typically benefit from the single currency's weakness. Electrolux, which owns the Frigidaire, Kenmore and Tappan brands, fell about 10...

  • MADRID— Prime Minister Mariano Rajoy has revised Spain's economic growth forecast upward for this year and next and said the improved circumstances allowed him bring forward a tax reduction plan. Rajoy said Thursday he could now bring forward by six months an income tax reduction plan he estimated will put 1.5 billion euros back into people's pockets.

  • Greek Prime Minister Alexis Tsipras leaves the European Council headquarters after a summit in Brussels.

    Greece should vote "no" on the European deal to extend its bailout—the best solution is for creditors to take a haircut, says Peter Morici.

  • July 2- BP Plc has reached a comprehensive $18.7 billion settlement with the U.S. government and five states, a landmark deal that effectively ends years of litigation over environmental damage and human casualties caused by the 2010 Gulf of Mexico spill. Clean Water Act fines and natural resources damages, along with claims by Alabama, Florida, Louisiana,...

  • BOSTON, July 2- BlackRock Inc, the world's largest asset manager, expects Greek voters to approve a bailout offer from creditors in a referendum set for Sunday, Global Chief Investment Strategist Russ Koesterich said. A "no" vote on the ballot question, he said, would lead to the sale of risky assets and push down equity markets by 4 percent in Europe and 2 percent in the...

  • MOSCOW— A draft Dutch report into last year's crash of Malaysian Airlines Flight 17 in eastern Ukraine fails to offer a comprehensive picture, a Russian aviation official said Thursday. The Dutch Safety Board has made the draft available to representatives of Malaysia, Ukraine, the U.S., Russia, Britain, Australia and the Netherlands prior to the release of the...

  • BERLIN— A Google subsidiary has apologized for making Nazi concentration camps part of a mobile role-playing game. Niantic Labs says players of' Ingress' can propose historic location and monuments for inclusion in the game, in which two factions use smartphones to battle for control of these sites. In a statement to The Associated Press, Niantic Labs' founder...

  • July 2- BP said it has reached an $18.7 billion settlement of damages claims from the U.S. government and five states after the 2010 Gulf of Mexico spill. BP said the agreement covered claims from the states Of Alabama, Florida, Louisiana, Mississippi and Texas and 400 local government entities. Florida's Attorney General said her state's economic damages...