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  • LONDON— Britain's Airports Commission has decided to recommend the construction of third runway at London's Heathrow Airport in a long-awaited report on how to best expand the country's aviation capacity. It says Heathrow presents a stronger case that rival Gatwick- providing around 40 new destinations from the airport and more than 70,000 new jobs by...

  • *Asia holds nerve as Greece misses IMF loan payment. SYDNEY, July 1- Asian shares made guarded gains on Wednesday as investors gave a resigned shrug to news Greece had become the first developed economy to default on a loan with the International Monetary Fund. Calming after two days of wild swings, MSCI's broadest index of Asia-Pacific shares outside Japan...

  • LAUNCESTON, Australia, July 1- "New normal" is a term coined about China's transition to slower but hopefully more sustainable economic growth, but it can be equally applied to many commodity markets. The big picture is that Australia is receiving less money for its commodity exports, with the value dropping 11 percent to A $174 billion in the 2014-15 fiscal year...

  • TOKYO— Asian shares rose on Wednesday as investors watched to see the next step as Greece fell into arrears after failing to make a debt repayment on Tuesday. GREECE DEBT CRISIS: Greece's European bailout program ended Tuesday at midnight without an extension or a new deal with creditors and the government failed to make a payment of about 1.5 billion euros due...

  • LONDON- Bank of England publishes financial stability report, followed by Governor Mark Carney's news conference- 0930 GMT. FRANKFURT- European Central Bank Governing Council meeting. BERLIN- European Central Bank Governing Council member Jens Weidmann and Bundesbank Vice President Claudia Buch to participate in cabinet meeting of the federal...

  • NEW YORK, June 30- Stocks ended slightly higher on Wall Street in volatile trade on Tuesday and a global equities gauge was flat, while the euro fell as Greece grappled with a looming deadline on a debt payment to the IMF. Markets held on to some chance of resolution even as German Chancellor Angela Merkel played down any hopes of a last-minute deal with Greece and...

  • SAN FRANCISCO, June 30- Amazon.com Inc launched its one-hour delivery service, Prime Now, for select areas of London on Tuesday and said it would expand the program to additional cities in the United Kingdom by the end of the year. London is our first Prime Now city in the UK and we are already working on making Prime Now available in more postcodes in London and...

  • CALAIS, France, June 30- Ferry workers on Tuesday threatened to continue their protest on Wednesday after blocking Calais' port for two days, forcing the closure of the Channel Tunnel linking France and England for several hours. Traffic in both directions, halted on early Tuesday afternoon, resumed at around 1500 GMT, Eurotunnel said. Eurotunnel Chief Executive...

  • NEW YORK, June 30- Stocks on Wall Street rose in choppy trade on Tuesday and a global equities gauge ticked up, while the euro remained under pressure as Greece grappled with a looming deadline on a debt payment to the IMF. Greece submitted a new two-year aid proposal to its creditors, calling for debt restructuring in what seemed like a last-ditch effort by Athens...

  • NEW YORK, June 30- Stocks on Wall Street rose in choppy trade on Tuesday and a global equities gauge ticked up, while the euro remained under pressure as Greece grappled with a looming deadline on a debt payment to the IMF. Greece submitted a new two-year aid proposal to its creditors, calling for debt restructuring in what seemed like a last-ditch effort by Athens...

  • LONDON, June 30- Tom Hayes, the former UBS and Citigroup trader on trial in London on Libor rigging charges, told a broker to pay Hayes' 1,000 pound restaurant bill as a reward for giving the broker business, a court heard on Tuesday. Hayes, a former yen derivatives trader based in Tokyo, was on gardening leave from UBS at the time in 2009, having been hired by Citigroup...

  • NEW YORK/ LONDON June 30- The U.S. dollar's share of foreign exchange reserves rose for a fourth straight quarter, while the euro's hit a 13- year low, International Monetary Fund data showed on Tuesday. "This only goes to show that the dollar is still the world's reserve currency and will be for many, many years to come," said John Doyle, director of markets at Tempus...

  • NEW YORK, June 30- Stocks on Wall Street edged up on Tuesday to keep a global equities gauge higher despite declines in Europe, while the euro remained under pressure as Greece grappled with a looming deadline on a debt repayment to the IMF. Greece submitted a new two-year aid proposal to its creditors, calling for debt restructuring in what seemed like a...

  • SINGAPORE, June 30- Singapore will relax rules that currently require banks to segregate their domestic and international operations into separate accounting entities, as part of moves to simplify its banking regulations. Banks in Singapore need to divide their local and offshore operations into domestic banking units and Asian Currency Units.

  • SINGAPORE, June 30- Financial markets around the world will open on Wednesday with a tinge of apprehension, not just because of developments in Greece or China, but because of an extra second. A "leap second" is being added to the world's clocks at midnight GMT on Tuesday, which could test the extremely sensitive trading systems of the modern algorithmic era,...

  • PARIS, June 30- Two executives from California- based Uber will face trial in France on Sept. 30, the Paris public prosecutor said on Tuesday, part of a French crackdown on what the government calls an illegal taxi service. Thibaud Simphal, manager of Uber France, and Pierre-Dimitri Gore-Coty, general manager for western Europe, were detained by police on Monday in an...

  • PARIS, June 30- China formally committed to halting the rise in its greenhouse gas emissions within the next 15 years and pledged on Tuesday to reduce the carbon intensity of its vast economy, in a much-anticipated strategy for United Nations climate talks. "China's carbon dioxide emission will peak by around 2030 and China will work hard to achieve the target at...

  • PARIS— Top carbon polluter China confirmed it will try to cap its rising emissions before 2030 while the U.S. and Brazil pledged to boost renewable energy sources in a series of announcements Tuesday in anticipation of a global climate pact in Paris. In a submission to the U.N., China repeated an earlier pledge to achieve a peak in emissions around 2030 and...

  • CALAIS, France, June 30- Protesting ferry workers forced the closure of the Channel Tunnel linking France and England on Tuesday, blocking its entrance and setting fire to tyres thrown onto railway tracks. Workers at ferry service MyFerryLink are trying to prevent job cuts after their company was sold to a Danish firm earlier this month. Calais is a magnet for...

  • PARIS, June 30- China formally committed to halting the rise in its emissions within the next 15 years and pledged on Tuesday to reduce the carbon intensity of its vast economy, releasing its much anticipated strategy for United Nations climate talks. In a plan that largely mirrors commitments Beijing made in a joint U.S. environment agreement last year, China...