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  • *Crude futures rise over $1 a barrel before consolidating. NEW YORK, July 29- Oil prices jumped about 2 percent on Wednesday, springing from near six-month lows, after U.S. government data showed a surprisingly large crude stockpile draw that signaled the market may have been wrong in predicting slumping demand for energy. Crude futures have lost over $10 a barrel...

  • *Italcementi jumps after bid from HeidelbergCement. LONDON, July 29- European shares rose on Wednesday, lifted by strong corporate results and bid activity, including HeidelbergCement's move to take control of Italcementi. In Europe, Italcementi surged 49 percent while HeidelbergCement fell more than 6 percent.

  • *Sugar market to have first deficit in 6 years-Reuters poll. Drought has already begun to threaten production in number two exporter Thailand and top consumer India as weather bureaux confirm the return of the phenomenon which can lead to scorching weather across Asia and heavy rains and floods in South America. "The current drought is more severe than last...

  • LONDON, July 29- Barclays' new chairman sought to stamp his mark on the bank on Wednesday by accelerating the sale of assets and cost cutting after the group produced a 12 percent increase in second-quarter profits. Chairman John McFarlane, who arrived at Barclays in April with a reputation for taking bold action, laid out his plans for the bank after ousting Chief...

  • HARARE, July 29- Metallon Corp, the biggest gold producer in Zimbabwe, said it missed its first-half output target by 19 percent due to equipment breakdowns, in another setback for the country's mining sector, which has been hit by slumping commodities prices. London- based Metallon, which is not listed, owns fives mines in Zimbabwe, three operational and two which...

  • NEW YORK, July 29- The dollar held steady against major currencies on Wednesday as traders awaited possible clues from the Federal Reserve on whether it will raise interest rates, perhaps as early as September. Although inflation has remained below the Fed's 2 percent target and overseas developments including the European debt crisis and most recently...

  • *Says to restart Goa mines by October. MUMBAI, July 29- India's Vedanta Ltd said on Wednesday it expected to restart iron ore mining by October in top exporting Goa province and that talks were continuing with regulators for merging with its cash-rich unit Cairn India. Chief Executive Tom Albanese said on a conference call Vedanta was hoping to get approvals as...

  • *HIV sales help offset margin slide post Novartis deal. LONDON, July 29- GlaxoSmithKline moved to reclaim its prowess as a research powerhouse on Wednesday by flagging up dozens of new drugs and vaccines in development, as demand for new HIV medicines helped it beat quarterly profit forecasts. The drugmaker recently sold its marketed cancer drugs to Novartis...

  • LONDON/ PARIS, July 29- A Sudanese man died on Wednesday as migrants desperate to enter Britain from France stormed the channel tunnel entrance and British ministers and security chiefs held an emergency meeting to try to tackle the growing crisis. Freight and passenger traffic through the rail tunnel has been severely disrupted as migrants camped out in...

  • LONDON, July 29- British investor Neil Woodford is backing a start-up biopharmaceutical firm whose first venture will be to launch clinical trials of three drugs developed by Novartis. It said has raised $119 million from Woodford Investment and Invesco Perpetual among others, and has acquired drug programmes from Novartis for the treatment of brittle bone...

  • LONDON, July 29- Asking outside auditors to vouch for the accuracy of a bank's key measure of health could help restore investor trust in the sector, a London- based accounting body said on Wednesday. The Institute of Chartered Accountants in England and Wales kicked off a public consultation on how accountants could check on bank capital ratios, a measure of...

  • LONDON— Britain- based drugmaker GlaxoSmithKline has reported a drop in earnings in the first full quarter since its deal to swap some assets with Swiss rival Novartis. CEO Andrew Witty described the performance as encouraging, with plans on track to integrate and restructuring operations it took over from Novartis in April. In the deal, GSK agreed to sell its...

  • LONDON, July 29- Major currencies that are closely linked to commodities prices were back on the defensive on Wednesday as oil prices fell again and traders awaited the outcome later in the day of a U.S. But even with a more encouraging tone on China's stock markets limiting the damage, the Canadian and Australian dollar were both down by 0.2-0.3 percent in...

  • Says to restart Goa mines after monsoons. MUMBAI, July 29- India's Vedanta Ltd said on Wednesday its quarterly profit more than doubled from a year-ago comparison weighed down by a one-time charge, and that it was on track to restart mining in key producing state Goa after monsoons. "We continue to focus on improving efficiency, costs, and enhancing production...

  • *Margins slide in first full quarter after Novartis deal. LONDON, July 29- A further slide in sales of lung drug Advair and lower profit margins following a business overhaul hit GlaxoSmithKline in the second quarter, although core earnings per share fell by a less than expected 9 percent. The drugmaker recently sold its marketed cancer drugs to Novartis and...

  • LONDON— This year's Venice Film Festival will include Kristen Stewart in a sci-fi romance, Idris Elba at war and a thriller starring Tilda Swinton and Dakota Johnson, as well as potentially awards-worthy performances from Eddie Redmayne, Johnny Depp and Jake Gyllenhaal. It includes Drake Doremus' futuristic "Equals," with Stewart and Nicholas Hoult; Luca...

  • PARIS, July 29- French oil company Total posted higher than expected second-quarter profit on Wednesday, helped by increased refining margins in Europe and accelerated cost cuts to adjust to a low oil price environment. Europe's second biggest oil company reported adjusted net profit of $3.085 billion, beating analyst expectations of $2.61 billion and only...

  • LONDON, July 29- Goldman Sachs and Morgan Stanley are offering the fattest bonuses to their London analysts, but if it's a high base salary you're after then head to Deutsche Bank, according to a survey on Wednesday. Meanwhile, Deutsche Bank paid the largest average salary excluding bonus, at 56,000 pounds. Credit Suisse is close behind with 70,000 pounds, while JP...

  • LONDON, July 29- Major currencies that are closely linked to commodities prices were back on the defensive on Wednesday as oil prices inched lower and traders awaited the outcome of a U.S. The New Zealand dollar was again the exception to that rule, gaining after the country's central bank governor played down the chances of further deep cuts to interest rates...

  • LONDON— Barclays, Britain's second largest bank, said Tuesday that second quarter profit increased sevenfold, boosted by earnings from investment banking and a 496 million pound gain on assets acquired from Lehman Brothers in 2008.. While Barclays is performing well, "there is more that can be done to deliver better returns for shareholders, faster," McFarlane...