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  • WASHINGTON— The World Trade Organization says China broke global trade rules by failing to comply with an earlier WTO ruling and continuing to impose duties on specialty steel imports. The case dates back to 2010 when China imposed duties on a high-tech specialty steel used in power plants. Despite the ruling, China reintroduced duties on the steel in 2013. The...

  • *Oil weighed by bearish Reuters July survey on OPEC oil. NEW YORK, July 31- Oil prices fell on Friday, with U.S. crude set to post the largest monthly drop since the 2008 financial crisis, after signs that top producers in the Middle East were continuing to pump at record levels despite a growing global gut. July's losses came on the back of a stock market tumble in top...

  • GENEVA, July 31- China failed to comply with a World Trade Organization ruling that found its tariffs on a type of speciality steel products breached global trade rules, a WTO panel said in a ruling on Friday. The ruling noted, however, that China had stopped applying the tariffs in April, while the WTO hearings were going on, more than four and a half years after the...

  • GENEVA, July 31- China failed to comply with a World Trade Organization ruling that found its tariffs on a type of speciality steel products breached global trade rules, a WTO panel said in a ruling on Friday. The United States brought the case in 2010 after China slapped punitive duties on U.S. exports of grain oriented flat-rolled electrical steel, used in the...

  • *OPEC oil production up 140,000 bpd in July- Reuters survey. LONDON, July 31- Oil prices steadied on Friday as a sharp fall in the dollar balanced evidence of growing oversupply, with core OPEC producers pumping near record levels. Brent crude oil was down 25 cents at $53.06 a barrel by 1350 GMT.

  • *OPEC output up more than 1.7 mln bpd since policy shift. LONDON, July 31- OPEC oil output reached the highest monthly level in recent history in July, a Reuters survey found on Friday, as Saudi Arabia and other key members show no sign of wavering in their focus on defending market share instead of prices. OPEC supply has risen in July to 32.01 million barrels per day...

  • July 31- The following table shows OPEC crude oil output in millions of barrels per day in July and June, based on a Reuters survey. OPEC at a meeting on June 5 agreed to retain the target for the second half of 2015. Totals are rounded. There are no individual quotas disclosed for the OPEC member countries.

  • BRUSSELS— The European Union is opening an in-depth probe into whether FedEx's proposed $4.9 billion takeover of Dutch company TNT would strangle competition in the massive market for small package deliveries. EU Antitrust chief Margrethe Vestager said Friday she had to "make sure that FedEx's takeover of TNT would not impede effective competition and...

  • LONDON, July 31- Oil prices fell on Friday as concern over global oversupply intensified after oil producers' cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. "All commodities are down," said Abhishek Deshpande, oil analyst at Natixis. Benchmark North Sea Brent crude headed for its fifth consecutive weekly fall after...

  • LONDON, July 31- OPEC policymakers seem confident in a sustained recovery of oil prices from this year's lows as demand improves, but the derivatives market is geared for an alternative scenario: a fall below $50 a barrel by the end of the year. But it is also when the Organization of Petroleum Exporting Countries holds its twice-yearly meeting.

  • *Oil prices fell after OPEC indicated there would be no output cuts despite a huge global oversupply, while copper was lower on lingering worries about demand in top consumer China. *Exxon Mobil, Royal Caribbean and Chevron are scheduled to report before the opening bell. *Data expected on Friday includes the University of Michigan's final July reading on the...

  • *Mogherini met Iran's Zarif in Tehran this week. BRUSSELS, July 31- The European Union should start high-level talks with Iran on energy and trade by the beginning of 2016, EU foreign policy chief Federica Mogherini told a closed-door meeting of EU policymakers. The day after a deal on Iran's nuclear program was sealed this month, Mogherini told the European...

  • *UCB, BNP Paribas, Natixis up after results. The European oil and gas index fell 1 percent as oil prices fell after producers' cartel OPEC indicated there would be no output cuts despite a huge global oversupply, while the STOXX Europe 600 basic resources index was down 1.8 percent after copper fell on lingering worries about the metals' demand in top consumer China.

  • LONDON, July 31- Oil prices fell on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cuts in production despite a huge global oversupply. Badri said rising demand would prevent a further fall in oil prices and suggested cuts in OPEC output would not have much impact on the market.

  • SINGAPORE, July 31- Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cut-back in production, although a fall in the U.S. dollar put a floor under prices. Badri added that even if OPEC had cut output by as much as 2 million barrels per day, it would not have...

  • ATHENS, Greece— Greece's talks with its international creditors on a third bailout worth 85 billion euros shifted into a higher gear on Friday, with lead negotiators from the European Union and International Monetary Fund meeting key ministers in Athens. The bailout talks with the IMF, European Commission, European Central Bank and European Stability...

  • SINGAPORE, July 31- Oil prices fell in Asian trade on Friday as concern over global oversupply intensified after the head of oil producers' cartel OPEC indicated there would be no cut-back in production, although a fall in the U.S. dollar put a floor under prices. Badri added that even if OPEC had cut output by as much as 2 million barrels per day, it would not have...

  • WASHINGTON, July 30- The International Monetary Fund can only approve new loans for Greece after Athens reaches an agreement with European governments that would ensure it can pay its debts, an IMF official said on Thursday. The IMF has teamed up with the European Union and the European Central Bank in recent years to lend Greece money repeatedly to save it from a...

  • IMF won't join Greek bailout before reforms, debt relief Thursday, 30 Jul 2015 | 12:29 PM ET

    WASHINGTON— The International Monetary Fund official cannot participate in another Greek bailout until Greece and its creditors make difficult decisions on economic reforms and debt relief, a fund official said Thursday. Briefing reporters on condition of anonymity, the official said Greece needs to commit to reforms and creditors must provide debt...

  • WASHINGTON, July 30- The International Monetary Fund will not reach a deal on a new debt program with Greece until Athens reaches an agreement with European governments that would ensure it can pay its debts, an IMF official said on Thursday.