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  • WASHINGTON, July 28- U.S. homeownership dropped to a 35- year low in the second quarter as more Americans opted to rent, but the decline in ownership was probably close to running its course against the backdrop of a tightening labor market. The seasonally adjusted home ownership rate fell to 63.5 percent, the Commerce Department said on Tuesday.

  • July 28- Honeywell International Inc has made its largest purchase in more than a decade, agreeing to buy the utility consumption metering business of Britain's Melrose Industries Plc for about $5.1 billion. The move, announced on Tuesday, is the first major deal for Honeywell, the U.S. diversified industrial manufacturer, since it laid out a five-year plan in...

  • CAPE CANAVERAL, Fla., July 28- Test pilots at the helm of a Virgin Galactic passenger spaceship that crashed last year were unaware of the catastrophic consequences of unlocking the craft's moveable tail section too early because of poor training, investigators probing the fatal accident said on Tuesday. The premature unlocking of SpaceShipTwo's hinged tail...

  • NEW YORK, July 28- Oil turned higher on Tuesday, recovering from near six-month lows, as bets for a drop in U.S. crude stockpiles offset worries about a global supply glut and equity market meltdown in China. "We're getting a bounce of sorts but I'll be selling into any strength I see," said Tariq Zahir, an oil bear at Tyche Capital Advisors in Laurel Holllow, New York.

  • FRANKFURT, July 28- Business planning software start-up Anaplan is nipping at the heels of industry leaders SAP, Oracle and IBM, with sales of its cloud-based service tripling in each of the past three years as it seeks to shake up the market. While major players like SAP, Oracle's Hyperion business and IBM's Cognos and Applix units have been forced to offer...

  • "We just don't see any significant catalyst that will move this market higher, even after last week's declines," said Kristina Hooper, global market strategist with Allianz Global Investors. UPS rose $4.82, or 5.1 percent, to $99.94. UPS earned $1.23 billion, or $1.35 per share, for the three months ended June 30.

  • LONDON, July 28- Goldman Sachs has inflamed further an already heated argument between analysts over the outlook for the copper market. The Wall Street heavyweight has positioned itself as a super bear, slashing its short, medium and long-term forecasts by as much as 44 percent in the case of 2018. Cash copper, currently trading around $5,200 per tonne, will fall...

  • *Economists see Bank of England rate rise? LONDON, July 28- British economic growth got back on track in the second quarter but the strength of the pound hurt manufacturers, putting the Bank of England in a tricky spot as it gets closer to raising interest rates. "Sterling strength has clearly been a key driver behind the re-emergence of the two-speed economy, making...

  • July 28- Online food order and delivery company GrubHub Inc raised its full-year revenue forecast and reported better-than-expected second-quarter revenue as more diners used its services to order meals. GrubHub, which operates in more than 900 U.S. cities as well as London, delivers everything from expensive steaks to bento boxes. GrubHub raised its...

  • LONDON, July 28- Cerberus, the private equity firm named after the mythical three-headed dog guarding the gates of Hades, is leading a charge by U.S. investors who are snapping up European loans at knockdown prices. New York- based Cerberus Capital Management has bought more than 27 billion euros of European loans in the last 2-1/ 2 years, acting along with rivals...

  • SINGAPORE, July 28- Britain on Tuesday said it would clamp down on the use of "dirty money" to buy up expensive properties, promising to expose the owners of anonymous foreign shell companies hiding cash in London's buoyant housing market. Prime Minister David Cameron, speaking in Singapore on a regional trade visit, said the promise was part of anti-corruption...

  • *China- led commodity slump hurts growth, inflation expectations. LONDON, July 28- A slump in commodities prices over the past month has pushed back expectations of when the European Central Bank will start normalising its ultra-loose monetary policy by a whole year, to 2019.. Growth concerns in China, which accounts for almost half of global copper demand and 70...

  • Mylan, whose shares fell 14.5 percent, said it would continue its own unsolicited pursuit of Irish drugmaker Perrigo Co, a maker of over-the-counter consumer and nutritional products and generic topical medicines. Perrigo is one of the few remaining assets out there, "said Morningstar analyst Michael Waterhouse. Other industry analysts expect Mylan will...

  • LONDON/ BRUSSELS, July 28- Diageo and Heineken have agreed to dissolve their joint ventures in South Africa and Namibia, so the British spirits maker and Dutch brewer can pursue their own growth strategies in the countries. Diageo said it has become market leader in spirits in South Africa with a 40 percent share and felt it had the necessary scale to go it alone.

  • MANILA/ LONDON, July 28- Demand for gold slid to its lowest in six years in the second quarter of this year as buyers from top consumer China poured funds into its now troubled equities market, an industry report showed on Tuesday. Retail investment from China fell by a quarter and jewellery demand by 23 percent in the April to June period as stock markets there...

  • LONDON, July 28- Gold edged higher on Tuesday but remained near 5-1/ 2- year lows as markets braced for this week's two-day Federal Reserve meeting, at which policymakers are tipped to give further clues on the timing of a U.S. rate increase. Gold hit a low of $1,077 on Friday, its cheapest since early 2010, in a fifth week of losses. "Gold is treading water despite a...

  • LONDON— Scientists and tech experts— including professor Stephen Hawking and Apple co-founder Steve Wozniak— warned Tuesday of a global arms race with weapons using artificial intelligence. Those signing letter included Elon Musk, Tesla Motors CEO; Demis Hassabis, who founded Google DeepMind; and Noam Chomsky, an emeritus professor at MIT.

  • LONDON, July 28- Britain on Tuesday vowed to clampdown on the use of "dirty money" to buy up expensive properties, promising to expose the owners of anonymous foreign shell companies hiding cash in London's buoyant housing market. Prime Minister David Cameron, speaking in Singapore on a regional trade visit, said the promise was part of anti-corruption efforts to...

  • Britain's economy grows 0.7 percent in second quarter Tuesday, 28 Jul 2015 | 5:21 AM ET

    LONDON— Britain's economy picked up speed in the second quarter of 2015, when it expanded by 0.7 percent compared with the previous three-month period. The Office of National Statistics said Tuesday that the economic growth in the April-June period accelerated from a rate of 0.4 percent in the previous quarter. Chris Williamson, analyst at Markit.com, says...

  • UPDATE 2-BP profits slump after huge oil spill charge Tuesday, 28 Jul 2015 | 4:41 AM ET

    LONDON, July 28- BP's second-quarter profit slumped by nearly two thirds from a year ago as it grappled with lower crude prices and took a huge $10.8 billion charge related to the 2010 Gulf of Mexico oil spill. While BP had been expected to take a $10 billion charge for this at some point, it said on Tuesday it had also agreed to pay up to $1 billion to resolve claims from...