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Wires

  • SYDNEY, July 24- U.S. corn futures fell 2 percent on Monday to hit a one-week low as forecasts for rain eased fears of potential production losses. The most active corn futures on the Chicago Board of Trade were down 2 percent at $3.85-3/ 4 a bushel at 0451 GMT, after earlier touching their lowest since July 17 at $3.84-3/ 4 a bushel. The recent dry conditions have already...

  • Damage to thousands of cars in dealership lots across Texas, Nebraska, Oklahoma and other states are just some of the weather-related losses that have been hitting U.S. property insurers particularly hard in the first half of this year. "It got everything on the car- roofs, sides, mirrors and back glasses," said Ronnie Cohen, new car director of Subaru of Plano,...

  • NEW YORK, July 24- U.S. venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge- some of the hottest tech startups that sell the coins just don't need their money. "The day when VCs were the elusive elite and primary source of capital for startups has ended," said Jamie Burke, founder and chief executive...

  • NEW YORK, July 24- Miami- area money manager Bob Press appears to offer the ultimate all-weather investment: a "direct lending" hedge fund that does not require a long-term commitment and has produced nearly 90 straight months of positive returns not correlated to other markets. Most funds invest in traditional financial assets like stocks or bonds, but direct...

  • SHANGHAI, July 24- China's yuan firmed against the U.S. dollar on Monday, buoyed by a stronger central bank guidance, but traders said further gains were likely to be restrained by corporate dollar demand this week. Prior to market opening, the People's Bank of China set the yuan midpoint at 6.7410 per dollar, the highest since Oct. 20 2016, reflecting the dollar's...

  • SHANGHAI, July 24- China's blue-chip index hovered near 18- month highs on Monday amid signs that fund managers are ramping up their bets on industry leaders such as Ping An and Gree Electric, but small-caps continued to languish as their earnings disappoint. China published draft rules late on Friday to promote the development of public-private...

  • KUWAIT CITY— Turkey's president waded into the diplomatic crisis gripping Qatar and four other Arab nations on Sunday, traveling to Saudi Arabia and Kuwait as part of a three-country Gulf tour aimed at helping break the impasse. While members of the anti- Qatar quartet have strong trade links with Turkey, its closeness to Qatar raises suspicions of its motives...

  • JAKARTA, Indonesia— Japan's Softbank and China's top ride-hailing firm Didi Chuxing are pouring $2 billion into the latest round of financing by cash-hungry Southeast Asian taxi app Grab. Its last announced cash injection was in September when it raised $750 million led by Softbank, whose chief executive Masayoshi Son is Japan's richest person and a...

  • *Spot gold may peak around resistance at $1,261 per- technicals. "I think people are getting more nervous and careful about what is going to happen," said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank. "The market is expected to be quiet heading into the summer holidays in Asia, but if it moves at all, it'll move to the upside rather than the downside."

  • TOKYO, July 24- The dollar struggled near a 13- month low against a basket of major currencies on Monday as U.S. political turmoil dampened hopes for quick passage of President Donald Trump's stimulus and tax reform agendas and the euro extended gains. The Trump administration, already dogged by investigations into alleged Russian meddling in the U.S. election,...

  • ATLANTIC CITY, N.J.— Scott Blumstein's path to winning more than $8.1 million as the World Series of Poker champion started in the online poker rooms of New Jersey. While internet gambling has helped Atlantic City's beleaguered casino industry begin to recover, Blumstein credited his online experience with helping him win the biggest prize in poker after he...

  • July 23- Rayonier Advanced Materials said it raised its offer price for Canadian paper and cellulose pulp maker Tembec Inc to C $4.75 per share, valuing the deal at C $475 million, excluding debt. Oaktree Capital Management LP, Tembec's top shareholder which earlier opposed the deal, and another shareholder Bennett Management agreed to vote for the revised...

  • JAKARTA, Indonesia— Japan's Softbank and China's top ride-hailing firm Didi Chuxing are pouring $2 billion into the latest round of financing by cash-hungry Southeast Asian taxi app Grab. Grab is seeking to dominate the market for car and motorbike hailing in Southeast Asia, where it competes with traditional taxis and rival apps such as Uber.

  • *OPEC, non- OPEC ministers meeting in Russia on Monday. TOKYO, July 24- Oil prices gained on Monday after a steep fall the session before, buoyed by expectations that a joint OPEC and non- OPEC meeting later in the day may address rising output in Nigeria and Libya, two OPEC members so far exempt from a push to cut production. Ministers from the Organization of the...

  • *Asia ex- Japan pulls back; Nikkei lower on stronger yen. *Oil pressured by report forecasting rise in OPEC production. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent.

  • TOKYO— Asian shares mostly slid Monday, with Chinese benchmarks countering the trend, as market attention turns to the U.S. KEEPING SCORE: Japan's benchmark Nikkei 225 lost 0.9 percent in morning trading to 19,927.29. Australia's S&P/ASX 200 was down 1.2 percent to 5,654.40.

  • TOKYO, July 24- Japanese stocks dropped to more than two-week lows on Monday morning after Wall Street retreated. Although fundamentals are good and there are hopes for strong April-June earnings, we need to be careful about this technical trend, "said Hikaru Sato, a senior technical analyst at Daiwa Securities. On Friday, Wall Street indexes ended flat to about...

  • IMF SAYS CUTS 2017 UK GROWTH FORECAST BY 0.3 PERCENTAGE POINT TO 1.7 PCT; 2018 UK FORECAST UNCHANGED AT 1.5 PCT.

  • IMF SAYS IT KEEPS GLOBAL GROWTH FORECASTS UNCHANGED AT 3.5 PCT FOR 2017, 3.6 PCT FOR 2018.

  • KUALA LUMPUR, July 24- The International Monetary Fund on Monday kept its growth forecasts for the world economy unchanged for this year and next, although it slightly revised up growth expectations for the eurozone and China. In its updated World Economic Outlook, the IMF said global gross domestic product would be 3.5 percent in 2017 and 3.6 percent in 2018.