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  • *Second-quarter GDP rises at a 1.2 percent rate. WASHINGTON, July 29- U.S. economic growth unexpectedly remained tepid in the second quarter as inventories fell for the first time in nearly five years and business investment remained weak, offsetting robust consumer spending. Gross domestic product increased at a 1.2 percent annual rate after rising by a...

  • *Traders pare Fed rate-hike view on paltry U.S. growth. NEW YORK, July 29- U.S. Gross domestic product, the government's broadest economic gauge, grew at a 1.2 percent annual rate after rising the Commerce Department said on Friday.

  • *Both down 15 pct on month; WTI drop the biggest since July 2015. NEW YORK, July 29- Oil prices steadied on Friday amid short-covering after a week-long selloff but were on track to end the month about 15 percent lower on persistent glut concerns, with the biggest decline seen for U.S. crude in a year. Brent's most active contract, October, was down 8 cents at $43.15 after...

  • Interactive Intelligence is working with boutique investment bank Union Square Advisors LLC on a sale process that has attracted other telecommunications software companies, as well as private equity firms, the people said this week. Union Square Advisors and Interactive Intelligence did not immediately respond to requests for comment.

  • NEW YORK— Cable and telecom industry groups want a federal appeals court to reconsider its ruling on "net neutrality" that preserved regulations forcing internet providers to treat all online traffic equally. The Wireless Association, an industry trade group also known as CTIA, and other groups on Friday filed petitions for the case to be reheard by all of the...

  • NEW YORK— Stocks are mostly higher in afternoon trading Friday, as investors worked through another mixed batch of corporate earnings, this time from positive results from Google's parent company Alphabet and Amazon, and disappointing results from oil giants Chevron and Exxon Mobil. LOW ENERGY: Exxon Mobil and Chevron declined after both companies reported...

  • Exxon Mobil fell 2 percent Friday, the most in the Dow Jones industrial average, after reporting its smallest quarterly profit in almost 17 years. The 30- stock Dow average slipped 10 points, less than 0.1 percent, to 18,445, weighed down by the drop in Exxon Mobil. Exxon Mobil fell 3 percent early Friday, the most in the Dow Jones industrial average, after reporting...

  • NEW YORK, July 29- The U.S. dollar weakened on Friday after data showed that the U.S. economy grew at a slower pace than expected in the second quarter, further reducing expectations that the Federal Reserve will raise interest rates in September. The Japanese yen, meanwhile, soared after the Bank of Japan expanded stimulus at its highly anticipated meeting, but...

  • NEW YORK _ Oppenheimer Holdings Inc. on Friday reported net income of $5.2 million in its second quarter. The New York- based company said it had earnings of 39 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • NEW YORK _ Moog Inc. on Friday reported fiscal third-quarter earnings of $36.3 million. On a per-share basis, the New York- based company said it had profit of $1. Moog shares have fallen almost 10 percent since the beginning of the year.

  • NEW YORK _ Revlon Inc. on Friday reported second-quarter profit of $8.3 million. On a per-share basis, the New York- based company said it had net income of 16 cents. Revlon shares have climbed 19 percent since the beginning of the year.

  • NEW YORK _ WisdomTree Investments Inc. on Friday reported second-quarter profit of $3.7 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share. Four analysts surveyed by Zacks expected $55 million.

  • NEW YORK _ PJT Partners Inc. on Friday reported a loss of $323,000 in its second quarter. PJT Partners shares have fallen almost 8 percent since the beginning of the year. Keywords: PJT Partners, Earnings Report.

  • July 29- Credit Suisse Group AG, which exited its U.S. private wealth business last year, is building out a new investment banking group in the region to serve billionaires. Switzerland's second-biggest bank has hired Charlie Buckley from rival UBS Group AG to work with company founders and entrepreneurs, according to an internal memo reviewed by Reuters on...

  • *Global funds throng PSBC meetings in New York, Boston, London. HONG KONG, July 29- Postal Savings Bank of China's up to $10 billion forthcoming IPO is drawing marquee foreign investors' attention due to its clean balance sheet, sources said, though unattractive valuations may mean it will still need local cornerstone investors to succeed. Slots to meet with PSBC's...

  • NEW YORK— Consumer products maker Newell Brands climbed to its highest price in 18 years Friday after it reported strong results following its purchases of the makers of Elmer's Glue and Yankee Candle. The Atlanta company bought Elmer's for $600 million in October, and then bought Jarden Corp., the maker of Ball glassware, Rawlings sporting goods, Mr.

  • WASHINGTON, July 29- The U.S. economy likely regained speed in the second quarter as robust consumer spending offset a sharp moderation in inventory investment and weak exports, pointing to underlying growth momentum that could be maintained for the rest of the year. Things are falling in place, the economy will continue to move forward, "said Ryan Sweet, a senior...

  • NEW YORK FED ASKS PHILIPPINES' CENTRAL BANK TO HELP BANGLADESH RECOVER MONEY FROM CYBER HEIST.

  • NEW YORK, July 28- Emerging-market debt funds offered in the United States took in record cash for the second straight week, Lipper data showed on Thursday, as investors hoped more central bank stimulus could make the bonds an appealing buy. The funds attracted nearly $1.4 billion in the period through July 27, larger than the $918 million they attracted the...

  • NEW YORK, July 28- Fortress Investment Group said on Thursday it plans to shut its Fortress Centaurus Global hedge funds, continuing the firm's move away from hedge funds that invest in liquid, or easy to trade, assets such as stocks. The Centaurus funds, which managed $182 million in assets as of June 30, use a so-called global event driven strategy, betting on...