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  • China's yuan global ambition faces payments hurdle Tuesday, 8 Jul 2014 | 5:00 PM ET

    BEIJING/ HONG KONG, July 9- China's quest to turn its yuan into a full-fledged global currency has hit a road-block as the planned roll-out of a worldwide payments superhighway looks certain to get delayed because of policy snags and technology challenges.

  • FACTBOX-Development of China's yuan payment systems Tuesday, 8 Jul 2014 | 5:00 PM ET

    Below are key facts and a timeline concerning development of China's yuan payments system. NOVEMBER 2005- China's central bank announces the expansion of the yuan banking business in Hong Kong.

  • *S&P 500 holds near-term support. *Alcoa climbs in extended trade after results. NEW YORK, July 8- U.S. stocks fell in a broad selloff on Tuesday, dropping for a second straight session and driving the Dow below 17,000 as investors turned cautious before the start of earnings season.

  • UPDATE 1-Alcoa results beat Wall Street, shares rise Tuesday, 8 Jul 2014 | 4:45 PM ET

    July 8- Aluminum producer Alcoa Inc reported a second-quarter profit and revenue that beat analysts' expectations, as the company focused on selling products from its downstream business, which include truck wheels and aircraft fuselages. The company earned $138 million, or 12 cents a share, compared with a loss of $119 million, or a loss of 11 cents, a year earlier.

  • *Fed buys $1.07 billion of Treasuries due 2036-2044. NEW YORK, July 8- U.S. "The weak wage component offset the stronger-than-expected headlines, so there's nothing to set off the Fed for an earlier rate hike," said Charles Retzky, director of futures sales at Mizuho Securities USA in Chicago.

  • NEW YORK, July 8- Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring to engage in insider trading while at the hedge fund, ending a five-year winning streak by U.S. prosecutors.

  • NEW YORK, July 8- U.S. stocks fell in a broad selloff on Tuesday, dropping for a second straight session as investors exercised caution ahead of the start of earnings season. Based on the latest available data, the Dow Jones industrial average fell 117.59 points or 0.69 percent, to finish unofficially at 16,906.62.

  • CHICAGO, July 8- Federal regulators widened the recall of salmonella-tainted chicken produced by Foster Farms to include products believed to have been sent to military bases in five states to feed personnel and their families, according to U.S. Department of Agriculture on Tuesday.

  • WASHINGTON, July 8- Federal Reserve Chair Janet Yellen will go before Congress next week to deliver the U.S. central bank's latest report on monetary policy, congressional officials said on Tuesday. Yellen will appear before the Senate Banking Committee at 10 a.m. EDT on July 15, the Senate committee said.

  • During breaks at a food truck parked near American Apparel's main 800,000- square-foot factory that produces brightly colored T-shirts and leather goods, workers said they hoped new leadership would fix problems that have saddled the 250- store chain with losses in 16 of the past 17 quarters.

  • NEW YORK, July 8- U.S. prosecutors may still be building a case against imprisoned swindler Bernard Madoff's only surviving son, who according to sources was one of the "co-conspirators" mentioned in a plea deal by a Madoff associate last month. Mark Madoff committed suicide in December 2010 at the age of 46 on the second anniversary of Bernard Madoff's arrest.

  • NEW YORK, July 8- The U.S. dollar fell against the Japanese yen on Tuesday as yields on long-dated Treasuries dropped for a second day, with investors wary of stocks heading into the U.S. corporate earnings season.

  • *Alcoa to report after market close; revenue seen down. NEW YORK, July 8- U.S. stocks fell in a broad selloff on Tuesday, dropping for a second straight session as investors showed caution ahead of the start of earnings season.

  • NEW YORK, July 8- Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring to engage in insider trading while at the hedge fund, ending a five-year winning streak by U.S. prosecutors.

  • This was untrue, according to the SEC, because Kings Canyon failed to make some of the annual disclosures of financial information and other events that it had promised to make when it conducted three other bond offerings in 2006 and 2007..

  • *BP, Anadarko, IBV are partners in areas hit by writedown. Maersk bought the assets from South Korea's SK Energy Co Ltd for $2.4 billion in 2011. On Tuesday, Brazil's HRT Participacoes em Petroleo SA said it bought Maersk's 40 percent Polvo stake for an undisclosed sum.

  • NEW YORK, July 8- Brent crude slid more than $1 a barrel on Tuesday, its seventh straight decline, hitting a one-month low below $109 as Libyan oil exports looked likely to rise and fears eased of supply disruption in Iraq. Brent has shed more than 5 percent since last month, when the Iraq crisis drove prices to a nine-month high of $115.71.

  • FED'S YELLEN TO TESTIFY ON MONETARY POLICY TO HOUSE OF REPRESENTATIVES PANEL ON JULY 16- HOUSE COMMITTEE SPOKESMAN.

  • CHICAGO, July 8- Federal regulators widened the recall of salmonella-tainted chicken produced by California- based Foster Farms to include products believed to have been send to military bases in five states to feed personnel and their families, according to U.S. Department of Agriculture on Tuesday.

  • COLUMN-What if the market has it right?: James Saft Tuesday, 8 Jul 2014 | 3:00 PM ET

    July 8- The past 15 years of bubbles and busts notwithstanding, sometimes it may be best to just assume financial markets have got it right. The central problem facing investors today is how to reconcile patchy and uneven growth in the economy with very full valuations for stocks and other risky assets.