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  • Copper prices hit lowest level in six years on China worries. NEW YORK, July 7- Copper and other metals plunged on Tuesday as the euro sank to a five-week low against the dollar after the European Central Bank tightened lending conditions for Greek banks and as the collapse in equities prices in China drove fears about the country's economy.

  • NEW YORK, July 7- U.S. crude oil futures steadied on Tuesday after falling sharply a day earlier on worries about Greece's indebtedness and China's stock market losses, although charts indicated renewed selling could push prices into bear market territory. Industry group American Petroleum Institute estimated a drop of nearly 960,000 barrels.

  • July 7- Novartis AG on Tuesday won U.S. approval for its keenly awaited new heart failure drug Entresto earlier than expected, boosting hopes for a medicine tipped by analysts to reap billions of dollars in annual sales. Novartis is looking to Entresto to help revive its fortunes as the blood pressure pill Diovan- a major source of the company's profits in the past-...

  • BEIJING, July 8- The fate of debt-ridden U.S. rare earth miner Molycorp rests on China's efforts to crack down on networks that smuggled as much as 40,000 tonnes of the vital technology metals out of the country last year, driving down global prices. Greenwood, Colorado- based Molycorp is the sole U.S. domestic supplier of rare earths used in everything from...

  • LONDON/ ATHENS, July 7- Greek banks could start to run out of cash over the next two days if creditors do not agree to a new aid deal, two sources familiar with the country's financial system said on Tuesday. With withdrawals from cash machines rationed to a maximum of 60 euros a day and the banks shut since last week, supplies of banknotes have been dwindling fast.

  • LONDON, July 7- Tom Hayes, the first person to face trial by jury over allegations he conspired to rig global Libor interest rates, told a London court on Tuesday he had not acted dishonestly and just wanted to do his job as "perfectly as he could". Taking the stand for the first time in the high-profile trial at Southwark Crown Court, the 35- year-old former UBS and...

  • *China stock markets fall again. *Concern about Greece dogs oil market. NEW YORK, July 7- U.S. crude resumed its decline on Tuesday, sinking for a second straight day as investors fled to safe havens on worries about a near-bankrupt Greece and China's stock market losses, with technical selling threatening to push oil into a bear market.

  • *Iran deal could come in next 48 hours. LONDON, July 7- Iran, the United States and five other major powers are trying to reach an agreement to restrain the Iranian nuclear programme in exchange for relief from economic sanctions. Richard Nephew, Program Director at the Center for Global Energy Policy at Columbia University, in New York, said he thought...

  • *U.S. stocks fall, MSCI world index down 0.8 pct. NEW YORK, July 7- Global equity markets fell on Tuesday and the euro hit a five-week low against the dollar as euro zone leaders held an emergency summit to discuss Greece's future in the currency bloc, while commodities sold off on China demand worries. Copper prices dropped to a six-year low following the dollar's...

  • RIO DE JANEIRO, July 7- Concerns that Brazil may lose its coveted investment grade credit rating are again on the rise among government officials and investors who worry that President Dilma Rousseff's austerity push won't fully offset plunging government revenues. As Brazil prepares for a crucial ratings review by Moody's Investors Service in the third...

  • PARIS— Diners in Paris are flashing back— and forward— to the era of the automat, but this time with a nod to organic farming. Today, entrepreneurs in France and Scotland are appropriating the concept that once symbolized modernity to help customers get back to the land. Joseph Petit employs no staff at his two Paris stores.

  • *China stock markets fall again, Greece fights to stay in euro. NEW YORK, July 7- U.S. crude tumbled about 2 percent on Tuesday, sinking for a second straight day as investors fled to safe havens on worries about a near-bankrupt Greece and China's stock market losses and as technical selling threatened to push oil into a bear market. U.S. crude was down $1.15, or 2.2...

  • NEW YORK, July 7- Equity markets around the world fell while the euro slid to a five-week low against the dollar on Tuesday amid concerns over Greece's future as euro zone leaders were set to meet for an emergency summit on the country's debt crisis. "Markets seem to be losing patience and faith in the Athens' debt crisis ending with Greece's banks intact and the...

  • LONDON/ ATHENS, July 7- The cash economy emerging after the closure of Greece's banks is beginning to paralyze the country's vital olive oil industry as farmers demand cash for supplies that distributors are unable to pay. With the country's lenders at risk of default, Greece's half a million olive growers, many of them small family businesses, fear the banks will...

  • FRANKFURT/ BERLIN, July 7- Germany's top TV broadcaster and the country's biggest newspaper publisher are again testing the waters for a potential merger that would need to negotiate the same regulatory hurdles that derailed a deal a decade ago. Broadcaster ProSiebenSat.1 and Axel Springer have reignited talks with the aim of consolidating their push into...

  • *China stock markets fall again, Greece fights to stay in euro. NEW YORK, July 7- U.S. crude futures tumbled 3 percent to lead the oil complex down for a second straight day on Tuesday as an investor flight to safe havens continued from worries of a Greece exit from the euro zone and China's deepening stock market losses. Iran's determination to seal a nuclear deal with...

  • Greece and its creditors held talks in Brussels on Tuesday to discuss how to keep the country from falling out of the euro. Reports out late in the day said European officials considered providing Greece with emergency funding to help it avoid defaulting on its debts. "It's all Greece all the time," said Burt White, chief investment officer at LPL Financial.

  • It will be the first time in nearly 20 years that the Conservative Party has had a free hand to change how much Britain spends and raises in tax. Britain's pensions budget will not be cut so the axe is likely to fall on the next biggest welfare outlays which are housing benefit and tax credits to help lower-earning households. Britain's publicly funded...

  • NEW YORK, July 7- The euro dropped to a five-week low against a buoyant U.S. dollar on Tuesday, after the European Central Bank left emergency liquidity aid for Greek banks at current levels but increased the haircuts on the collateral it demands. "Markets seem to be losing patience and faith in the Athens' debt crisis ending with Greece's banks intact and the...

  • *Defendant Hayes, former UBS, Citigroup trader, takes stand. LONDON, July 7- Tom Hayes, the first person to face trial by jury over allegations he conspired to rig global Libor interest rates, told a London court on Tuesday he had not acted dishonestly and just wanted to do a good job. Taking the stand for the first time in the high-profile trial at Southwark Crown Court,...