Analysts expect India to be a net exporter of sugar in 2013/ 14, selling at least 1.5 million tonnes and possibly more than 2.0 million depending on price movements in coming months. ICE raw sugar futures slipped to three-month lows this week after news that the cane crush in India had begun, signalling more exports.» Read More
July 12- JPMorgan Chase& Co posted a 31 percent increase in second-quarter earnings on Friday after underwriting income jumped and bond market trading revenue rose. Those trades have since been switched over to JPMorgan's investment bank.
LONDON, July 12- The U.S. Department of Energy wants to establish labelling programmes and minimum energy efficiency standards for all computers and servers sold in the United States.
WASHINGTON, July 12- Liberal-leaning "Occupy" groups received similar tax scrutiny from the Internal Revenue Service as conservative " Tea Party" groups, according to documents released on Friday by a Democratic lawmaker, who said the IRS had been subjected to one-sided attacks.
July 12- RadioShack Corp said on Friday that its balance sheet continues to be strong, with total liquidity of $820 million at the end of the first quarter, a day after a trade publication reported that the electronics retailer was considering hiring a financial adviser.
July 12- Eli Lilly and Co plans this year to begin a new late-stage trial of solanezumab, its experimental treatment for Alzheimer's disease that failed in earlier testing to significantly slow progression of the memory-robbing disease, the U.S. drugmaker said on Friday.
July 12- Bank of Nova Scotia withdrew its application to acquire a nearly 20 percent stake in Bank of Guangzhou on Friday after Chinese authorities decided against proceeding with the C $719 million deal. Bank of Guangzhou is primarily government-owned and is not publicly listed.
July 12- Wells Fargo& Co, the biggest U.S. mortgage lender, reported a higher-than-expected 20 percent rise in quarterly profit on Friday as it set aside less money to cover bad loans.
July 12- United Parcel Service Inc, the world's No.1 package delivery company, estimated second-quarter profit below analysts' expectations, hurt by overcapacity in the global air freight market and a slowing U.S. industrial economy. UPS said it expects to report second-quarter earnings of $1.13 per share.
NEW YORK, July 12- U.S. government debt prices pared gains on Friday after a stronger-than-expected reading on domestic producer prices reduced the likelihood of deflation which would hurt the U.S. economy. Benchmark 10- year Treasury notes last traded 5/ 32 higher with a yield of 2.554 percent, down 1.8 basis points from late on Thursday.
NEW YORK, July 12- S&P 500 stock index futures turned slightly lower Friday after United Parcel Service said it was trimming its full-year outlook. The news pulled shares of UPS down 3.8 percent in premarket trading. At the same time, investors were digesting data that showed producer prices rose more than expected in June.
*China may see growth well below 7 pct in second half. LONDON, July 12- Brent oil rose to above $108 a barrel on Friday, supported by lower inventories in the United States, and as firm results from JPMorgan and Wells Fargo lifted investor appetite for risk.
NEW YORK, July 12- JPMorgan Chase& Co Chief Financial Officer Marianne Lake said "there could be some acceleration" in previously announced cost-cutting targets, depending on market conditions. In February, the largest U.S. bank by assets said it planned to cut 17,000 jobs by the end of 2014, or roughly 6.6 percent of its workforce.
WASHINGTON, July 12- U.S. producer prices rose more than expected in June, pointing to an apparent increase in inflationary pressures that could make the U.S. Federal Reserve more comfortable about reducing its monetary stimulus. The Labor Department said on Friday its seasonally adjusted producer price index increased 0.8 percent last month.
LONDON, July 12- Policymakers have intense aversion to the risk of lights going out. Some power grid operators, such as in Austria, Cyprus and Estonia, define all wind power as entirely unavailable when calculating how much overall capacity is needed to prevent a blackout.
*Gold falls after four days of gains. LONDON, July 12- Gold fell one percent on Friday, as the dollar rebounded and investors booked profits after four days of gains, but was on track for its biggest weekly gain since April on easing fears of an early end to the U.S.
July 12- Bank of Nova Scotia said on Friday it has withdrawn its application to acquire a nearly 20 percent stake in Bank of Guangzhou, after Chinese authorities decided against proceeding with the C $719 million deal. Bank of Guangzhou is primarily government-owned and is not publicly listed.
The fourth-biggest U.S. bank's net income applicable to common stockholders rose to $5.27 billion, or 98 cents per share, from $4.40 billion, or 82 cents per share, a year earlier.
*USDA raises China wheat import forecast to 8.5 mln T. LONDON, July 12- U.S. wheat prices edged higher on Friday as strong demand from China was expected to tighten global supplies, while corn and soybeans eased slightly but remained underpinned by forecasts for hot, dry weather in the next few days.
*Earnings $1.60/ shr vs $1.21 a year earlier. July 12- JPMorgan Chase& Co reported a 31 percent rise in quarterly profit on Friday as trading revenue rebounded and the biggest U.S. bank by assets set aside less money to cover bad loans.
NEW YORK, July 12- JPMorgan Chase& Co dialed back its commodity trading risk slightly in the second quarter from the previous three months, as prices of raw materials fell, results from the largest U.S. bank showed on Friday.