Business News


  • *Manufacturing growth in China expands. LONDON/ SYDNEY, July 30- Lead and zinc fell on Wednesday as investors took profits after a rally by both metals this month, but a brighter global economic outlook could see industrial metals resuming their rise. Part of that is driven by improving macro sentiment, "said commodity analyst Ivan Szpakowski of Citi in Shanghai.

  • KIEV, July 30- Ukraine's economy contracted by 4.7 percent year-on-year in the second quarter in a sign of the impact of fighting in the east of the country. Kiev had initially expected a 3- percent fall year-on-year in the whole of 2014 but the conflict has put additional strains on the state budget and deepened Ukraine's recession.

  • MOSCOW, July 30- VTB, Russia's second-largest bank by assets, called sanctions imposed by the United States "politically motivated" and "unjust" on Wednesday but said it was confident it could raise capital if needed.

  • *Sales growth strong in Europe, but declines in Americas. *Europe business offers narrower range, sells more clogs. BERLIN, July 30- The success of Crocs Inc in Europe, where the U.S. shoemaker has focused on its trademark colorful foam clogs rather than branching into other products, proves the brand has a future despite difficulties at home, its European head said.

  • *European shares slip as Total hurt by Russia. LONDON, July 30- The euro hit an eight-month trough against the dollar on Wednesday and German bond yields were at record lows ahead of inflation data expected to boost the case for further European Central Bank policy easing.

  • MOSCOW, July 30- Russia's Gazprom Energoholding, which manages the power generating assets of gas monopoly Gazprom, has decided to source its gas turbine spare parts locally instead of relying on imports, the company said on Wednesday.

  • Millions reported stolen from Albania central bank Wednesday, 30 Jul 2014 | 5:00 AM ET

    TIRANA, Albania— Albania's central bank says 713 million leke has been stolen from its reserve storage building. Authorities arrested two bank employees last week. The Bank of Albania, which is in charge of the country's price stability and manages 16 private banks, said Wednesday that the cash was stolen over time.

  • MOSCOW, July 30- Russia's Veterinary and Phytosanitary Surveillance Service will restrict most of fruit and vegetable imports from Poland starting from August 1, spokesman Alexei Alekseenko said on Wednesday. The ban is due to "the violation of certification and the identification of quarantine products", Alekseenko said.

  • UPDATE 3-Brent steady around $108 in range-bound market Wednesday, 30 Jul 2014 | 4:40 AM ET

    *U.S., EU impose more sanctions on Russia over Ukraine. *Libya says oil output stays at 500,000 bpd despite unrest. The European Union and the United States imposed further sanctions against Russia on Tuesday, targeting its energy banking and defense sectors in the strongest international action yet over Moscow's support for rebels in Ukraine.

  • *Finance Ministry cuts 2014 GDP growth f'cast to 2 pct from 2.6 pct. The poor output figures increases worries that Southeast Asia's second-largest economy may have slipped into recession in the second quarter, though the Finance Ministry said there was a little growth in April-June.

  • Spain economic growth at fastest pace since 2007 Wednesday, 30 Jul 2014 | 4:34 AM ET

    MADRID— Spain's economy grew by a better-than-expected 0.6 percent in the second quarter compared with the previous three months, the fastest rate since 2007 and more evidence of the country's recovery from recession.

  • Europe shares down ahead of data; Asia gains Wednesday, 30 Jul 2014 | 4:33 AM ET

    TOKYO— European stocks were lower Wednesday ahead of U.S. economic data while cheery earnings from major Japanese companies such as Honda Motor Co. boosted Asian markets. KEEPING SCORE: In morning trade in Europe, France's CAC 40 dipped 0.7 percent to 4,334.79 and Britain's FTSE 100 edged down 0.2 percent to 6,791.58.

  • FOREX-Euro slides below $1.34, eyes on Fed and U.S. GDP Wednesday, 30 Jul 2014 | 4:32 AM ET

    LONDON, July 30- The euro fell below $1.34 on Wednesday for the first time since last November before German inflation data that was likely to add to the case for the European Central Bank pumping more money into a moribund economy.

  • Barclays chief applauds claw-back idea on bonuses Wednesday, 30 Jul 2014 | 4:24 AM ET

    LONDON— The chief executive of Barclays says that claw-back provisions on bankers' bonuses are a good idea in principle as the Bank of England prepares to publish new rules to punish executives who misbehave. Antony Jenkins told the BBC on Wednesday that such provisions are useful, though he we was awaiting the details.


  • *H1 EPS 101.8 pence vs forecast 102 pence. LONDON, July 30- British American Tobacco reported lower revenue and profit for the six months ended June 30, hurt by the strong British pound and a slight decline in volume.

  • Obama prods Congress to fix corporate loopholes Wednesday, 30 Jul 2014 | 4:14 AM ET

    KANSAS CITY, Mo.— President Barack Obama is prodding Congress to close corporate tax loopholes and take other action before going on summer break this week instead of trying to sue him. The White House is calling it a "stunt" and says Obama plans to address it in a speech Wednesday at Kansas City's historic Uptown Theater.

  • LONDON, July 30- Tullow Oil Plc drifted into the red after writing off more than $400 million in exploration costs but the Africa- focused explorer remained confident that its strategy will pay off.

  • German central bank chief: higher wages justified Wednesday, 30 Jul 2014 | 4:12 AM ET

    BERLIN— The head of Germany's central bank says higher wages would be justified in the country as the economy flourishes, and is putting the potential for raises at 3 percent.

  • Bank scandal tarnishes powerful Portuguese family Wednesday, 30 Jul 2014 | 4:11 AM ET

    The scandal bears the hallmarks of the recent European financial crisis, and the difficulties at Banco Espirito Santo— Portugal's largest bank— sent a shiver through global markets this month as investors feared Europe's closet contained more skeletons. Banco Espirito Santo's sudden difficulties turned out not to be systemic, however.