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  • LONDON, Aug 5- Britain's economic recovery probably slowed a touch at the start of the second half of this year, according to a survey published as Bank of England officials are expected to be split on whether to raise interest rates. Wednesday's Markit/ CIPS services purchasing managers' index showed growth among services firms slowed more than expected in July...

  • *Baxalta says offer "significantly undervalues" group. LONDON, Aug 5- Shire Chief Executive Flemming Ornskov will need to dig deeper in his pocket if he wants to win U.S. biotech company Baxalta. The Danish doctor running the London- listed drugmaker from offices in Massachusetts is not taking the easy option with his $30 billion run at Baxalta.

  • His ministers of finance and economy, Euclid Tsakalotos and Giorgos Stathakis, were holding held new meetings with bailout negotiators in Athens. The negotiators are pressing Greece to speed up a program to cut early retirement rights, impose stricter rules for tax arrears payments, and allow stronger creditor oversight of a privatization fund.

  • LONDON, Aug 5- Growth among European service businesses, which dominate most economies across the continent, eased last month as firms worried about Greece's flirtation with bankruptcy, surveys showed on Wednesday. Still, euro zone firms did accelerate growth towards the end of the month after Athens agreed a framework bailout plan with its European Union...

  • *Codelco stops offering refined copper to China- sources. LONDON, Aug 5- Copper and other base metals slipped on Wednesday as the dollar strengthened on expectations that U.S. authorities were close to hiking interest rates. Copper, which has shed about a fifth of its value over the past three months, is trading lower than supply/demand fundamentals would warrant,...

  • LONDON, Aug 5- European shares rose on Wednesday, led higher by Societe Generale, which jumped more than 9 percent after posting its second-quarter results. Among other individual gainers, Nivea maker Beiersdorf rose 2.6 percent after beating profit expectations. And London- listed mining companies BHP, Rio and Glencore added between 1.8 and 2.7 percent after...

  • With conditions and sentiment improving in the bloc after the deal, Markit's July final Composite Purchasing Managers' Index beat an earlier estimate of 53.7, settling at 53.9. The composite PMI pointed to third-quarter expansion of 0.4 percent, Markit said, in line with the expectations for the previous three months but less than the 0.5 percent median...

  • JAKARTA, Aug 5- Indonesia's economic growth in the second quarter dropped to its slowest since 2009, with prices for commodity and energy exports remaining weak and President Joko Widodo unable to push badly needed infrastructure projects past bureaucratic snarls. Southeast Asia's largest economy expanded 4.67 percent in April-June compared to the same...

  • NEW YORK, Aug 4- Global crude prices rose from multi-month lows on Tuesday, helped by a stock market rally in No. 2 oil consumer China, but abundant supply and a weak demand outlook make crude's rebound unlikely to hold, traders and analysts said. Brent, the world benchmark for oil, and U.S. crude settled up for the first time in four sessions, a day after Monday's 5 percent...

  • NEW YORK, Aug 4- The dollar rose on Tuesday as a top U.S. Atlanta Fed President Dennis Lockhart told the Wall Street Journal said it would take "significant deterioration" in the U.S. economy for him to not support a rate hike in September. "He is seen as a swing vote and he has become increasingly hawkish," said Ian Gordon, G10 currency strategist at Bank of America Merrill...

  • Platinum, palladium fall on oversupply, weak China demand. NEW YORK/ LONDON, Aug 4- Gold retreated from intraday highs on Tuesday as the dollar moved higher and a voting member of the U.S. Gold prices fell from their highs after Atlanta Federal Reserve President Dennis Lockhart said it would take "significant deterioration" in the U.S. economy for him to not support a...

  • LONDON/ MILAN, Aug 4- Russia's Vimpelcom and Hong Kong's Hutchison Whampoa are close to a deal to merge their Italian mobile phone businesses, sources close to the deal said. "Negotiations have become serious," a second source said, adding that Hutchison Managing Director Canning Fok had met with Vimpelcom counterparts in London several times this month.

  • LONDON, Aug 4- Britain's Serious Fraud Office is poised to file more criminal charges in connection with its investigation into alleged rigging of benchmark interest rates after sealing the world's first Libor conviction in a jury trial on Monday. Green has staked his reputation on a successful prosecution in the investigation into the suspected...

  • *BMW down as earnings momentum slows. Greece has had to introduce capital controls and is seeking a new bailout deal following a debt crisis. Many investors have cut their exposure to Greece, which accounts for only a fraction of the overall European economy, and are focusing more on "core" European markets such as Germany and France, or Spain and Italy in the south.

  • LONDON, Aug 4- Colombia could pre-finance next year's borrowing needs, possibly with a euro-denominated bond before the U.S. But with $3 billion in overseas borrowing projected for next year, Colombia may issue Eurobonds ahead of the U.S. interest rate hike that Cardenas expects will come in December. Colombia would have to go for a 10- year maturity in euros, but...

  • NEW YORK, Aug 4- Global crude prices advanced from multimonth lows on Tuesday after stock market gains in No. 2 oil consumer China, but the rebound is unlikely to have traction due to weakening demand and growing oversupply, traders and analysts said. The U.S. Energy Information Administration, the Paris- based International Energy Agency and the Organization of...

  • LONDON, Aug 4- German fashion house Hugo Boss said Chinese tourists flocking to Europe helped sales rise more than expected in the second quarter. Meanwhile, spending by Chinese customers in Europe has hit record levels, according to duty refund company Global Blue, helped by big shifts in exchange rates that have meant a luxury item might cost less than half the...

  • LONDON, Aug 4- Plunging commodity prices and rock-bottom interest rates this year have cut bonuses for managing directors on commodity and rates trading desks in London by as much as 60 percent. Figures from salary benchmarking site Emolument show that commodities managing directors bonuses this year averaged 150,568 pounds, compared with 373,000 pounds...

  • LONDON/ SINGAPORE, Aug 4- Oil prices are unlikely to recover soon as Saudi Arabia's drive to boost its refining activities is expected to force refineries elsewhere to slow down their operations, thus creating an even bigger glut of unwanted crude oil. Two big new refineries in Saudi Arabia are adding to growing supplies of diesel and jet fuel, which could mean...

  • *Disappointing U.S. data raise doubts on rate hike in Sept. NEW YORK, Aug 4- The dollar was little changed against a basket of currencies on Tuesday following a batch of disappointing economic data, while currencies tied to commodities rebounded on a stabilization in oil and metal prices that had fallen sharply in recent weeks. "It's been a quiet day with most major...