Sean Parnell is proposing putting $3 billion from a state savings account toward paying down Alaska's roughly $12 billion pension shortfall.» Read More
*WTI crude jumps above $102 per barrel on unrest in Egypt. NEW YORK, July 3- U.S. stocks rose in a volatile half-day session on Wednesday as traders squared positions before the holiday and Friday's job market data.
*Euro hits five-week low versus dollar on Portugal political turmoil. NEW YORK, July 3- The safe-haven yen reigned supreme on Wednesday as political instability in Egypt and Portugal prompted investors to seek refuge in the Japanese currency, although it did trim gains against the dollar after data showed a stabilizing U.S. labor market.
*Danone's Dumex preparing a price cut proposal. HONG KONG, July 3- Swiss food company Nestle and French rival Danone are cutting the price of infant formula milk in China after Beijing launched an investigation into possible price-fixing and anti-competitive behaviour in the sector.
NEW YORK, July 3- Bank of New York Mellon Corp officers and directors won the dismissal of a shareholder lawsuit accusing them of shirking their duties by letting the bank overcharge clients for trading currencies.
PRETORIA, July 3- South Africa's Association of Mineworkers and Construction Union refused to sign a government-brokered stability pact on Wednesday aimed at defusing tensions in the mining industry ahead of tough wage talks.
NEW YORK, July 3- Expectations the Federal Reserve will slow its economic stimulus program by the end of the year pushed U.S. mortgage rates higher last week, sapping demand from potential home buyers, data from an industry group showed on Wednesday.
LONDON, July 3- European shares were dragged lower by banking stocks on Wednesday, after political turmoil in Portugal saw the country's bourse post its worst day in two years and threatened to reignite the euro zone debt crisis.
*Egypt buys wheat, arrival not expected until September. LONDON/ ABU DHABI, July 3- Egypt is treading a fine line in efforts to stave off a potential crisis in its subsided bread programme as the cash-strapped government buys wheat on international markets for the first time since February and imported stocks hit historically low levels.
*Euro hits five-week low versus dollar on Portugal woes. NEW YORK, July 3- The safe-haven yen reigned supreme on Wednesday as political instability in Egypt and Portugal prompted investors to seek refuge in the Japanese currency, although it did trim gains against the dollar after data showed a stabilizing U.S. labor market.
July 3- A group of U.S. companies that produce specialty steel pipe used to drill for oil and gas have launched a major trade case, asking the U.S. International Trade Commission to stem what they say is a flood of unfairly traded products from nine countries.
*Egypt conflict capping wheat gains. CHICAGO, July 3- U.S. wheat rose over 1 percent on Wednesday on reports that China has bought large quantities of wheat from Australia and the United States. The sale of wheat to China is supportive but I'm concerned about what's going on in Egypt, the world's largest buyer.
DOHA/ DUBAI, July 3- The new head of Qatar's sovereign wealth fund, Ahmad al-Sayed, is known and feared as a hard, aggressive negotiator- and his appointment signals the fund's ambitious overseas acquisition plans are likely to continue.
WASHINGTON, July 3- U.S. private employers stepped up hiring in June and new applications for unemployment benefits fell for a second straight week last week, pointing to a steadily improving labor market picture. In a separate report, the Labor Department said initial claims for state unemployment benefits slipped 5,000 to a seasonally adjusted 343,000..
The European Central Bank, eyeing tentative signs of euro zone economic recovery, is expected to eschew an major decisions on Thursday and keep its easy-money policy in place.
LONDON, July 3- Global business activity expanded at its weakest pace in a year during June, held back by slowing growth in the United States, according to a business survey on Wednesday. JPMorgan's Global Manufacturing and Services PMI fell to 51.4 in June from 52.9 in May, although it held above the 50 threshold for growth for a 47th straight month.
NEW YORK, July 3- Global equity markets slid on Monday on worries over signs of slowing growth in China and deepening political turmoil in Portugal, where talks over the government's future weighed on the euro and threatened to reignite the euro zone crisis.
LONDON, July 3- Budgetary rigour demanded by international lenders may be the proximate cause of Portugal's political crisis, but Lisbon is also paying the price for not whipping its economy into shape in better times.
STRASBOURG/ LONDON, July 3- The European Parliament after months of bitter debate backed a plan on Wednesday to boost carbon prices, throwing a lifeline to the EU Emissions Trading System and the bloc's push for greener energy.
*Crude oil jumps above $100 per barrel on unrest in Egypt. NEW YORK, July 3- U.S. stocks fell modestly in a volatile, abbreviated session on Wednesday as concerns over growth in China and European debt overshadowed strength in large-cap tech shares.
*Cocoa run-up gathers momentum as resistance level breached. LONDON, July 3- ICE raw sugar futures were on course for a sixth consecutive daily decline on Wednesday as the cane crush in top producer Brazil looked set to be boosted by drier weather, adding to the market's already plentiful supplies.