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Wires

  • BEIJING— China's government has announced a goal of making the country a global leader in artificial intelligence in just over a decade, putting additional political support behind growing investment by Chinese companies in developing self-driving cars and other advances. It calls for developing personnel and research and educational resources to...

  • TOKYO, July 21- The dollar headed for weekly losses on Friday, wallowing at its lowest levels against the euro in nearly two years after what markets perceived as hawkish talk from European Central Bank chief Mario Draghi. But the Australian dollar skidded against the greenback after contrastingly dovish comments from a Reserve Bank of Australia official.

  • Gross domestic product in North Korea last year rose 3.9 percent from the previous year when the economy contracted due to a drought and low commodity prices, the Bank of Korea said. North Korea, which counts China as its biggest trading partner, also boosted exports by 4.6 percent, the most since an 11.8 percent jump in 2013.. The Bank of Korea has released GDP data...

  • *Opening of China's markets helps rotation into blue chips. SHANGHAI, July 21- China's stocks slipped on Friday morning, but were set to end the week higher, led by strong gains in blue chips, as investors sought firms with solid growth prospects and lower valuations amid tighter financial regulations and liquidity conditions. Among blue chips, Shanghai- listed...

  • *Spot gold may test resistance at $1,250 per ounce- technicals. Heightened political concerns surrounding investigations into President Donald Trump's campaign ties with Russia are currently the key driver supporting gold prices, said Stephen Innes, head of trading for Asia Pacific at OANDA in Singapore. The euro also held near two-year highs against the...

  • NEW YORK— AlphaBay, the now-shuttered online marketplace that authorities say traded in illegal drugs, firearms and counterfeit goods, wasn't all that different from any other e-commerce site, court documents show. Not only did it work hard to match buyers and sellers and to stamp out fraud, it offered dispute-resolution services when things went awry and kept...

  • TOKYO— Asian shares were mixed Friday in muted trading after the European Central Bank announced no changes to its stimulus policies. KEEPING SCORE: Japan's benchmark Nikkei 225 slipped 0.2 percent to 20,109.57 while Australia's S&P/ASX 200 lost 0.2 percent to 5,750.70. EUROPE FACTOR: Europe's central bank maintained its current policies and ECB President...

  • MEXICO CITY, July 20- Mexico's economy minister said on Thursday the World Trade Organization has been more effective in resolving U.S. trade disputes than the so-called Chapter 19 mechanism, which the United States hopes to ditch as part of NAFTA talks. The United States on Monday released its goals for the talks, which aim to update the North American Free Trade...

  • SHANGHAI, July 21- Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering. Morgan Stanley and Goldman Sachs Group Inc, which spearheaded ZTO's IPO, are named in the class-action...

  • TOKYO, July 21- Japan's Nikkei share average edged down on Friday morning as investors took in the European Central Bank's policy talk, while individual companies such as Yaskawa Electric soared on strong profit forecasts. The European Central Bank left its ultra-easy monetary policy unchanged, and President Mario Draghi said that policymakers would...

  • TOKYO, July 21- Japan's Nikkei share average edged down on Friday morning as investors took in the European Central Bank's policy talk, while individual companies such as Yaskawa Electric soared on strong profit forecasts. The European Central Bank left its ultra-easy monetary policy unchanged, and President Mario Draghi said that policymakers would...

  • MEXICO CITY, July 20- Mexican breadmaker Bimbo said on Thursday it agreed to buy U.S. firm East Balt Bakeries for $650 million. Bimbo, which expanded into India and Africa in recent months, and has plans to grow in China and the rest of Asia and the Middle East, said it hoped to close the transaction by the second half of 2017, pending regulatory approval.

  • SEOUL, July 21- North Korea's economy grew at its fastest pace in 17 years in 2016, South Korea's central bank said on Friday, despite the isolated country facing international sanctions aimed at curbing its defiant pursuit of nuclear weapons. Gross domestic product in North Korea last year rose 3.9 percent from the previous year when the economy contracted...

  • NORTH KOREA 2016 EXPORTS +4.6 PCT, HIGHEST SINCE +11.8 PCT IN 2013- S.KOREA C.BANK.

  • NORTH KOREA 2016 GDP GROWTH ESTIMATED AT 3.9 PCT, HIGHEST SINCE 1999- S.KOREA C.BANK.

  • NORTH KOREA 2016 GDP DRIVEN BY MINING, ENERGY AND BASE EFFECT FROM DECLINE SEEN IN 2015- S.KOREA C.BANK.

  • SYDNEY, July 21- The recent outbreak of hawkishness by policymakers in the western world does not automatically mean that interest rates need to rise in Australia, a top central banker said on Friday. That led some investors to build long positions in the Australian dollar in anticipation the Reserve Bank of Australia might echo its global peers.

  • SEOUL, July 21- South Korea's LG Chem Ltd is slated to exclusively provide batteries for Apple's iPhone 9 which is likely to be launched next year, a Korean newspaper reported on Friday. LG Chem has invested hundreds of billions of won in a dedicated line for the purpose and will produce "L-shaped" batteries for next year's iPhone, the Korea Economic Daily reported...

  • SYDNEY, July 21- U.S. corn edged lower on Friday, but the grain was on track to post a weekly gain of around 3.5 pct as forecasts for continued adverse weather stoked fears of production losses. The most active corn futures on the Chicago Board Of Trade were down 0.4 percent to $4.03-1/ 4 a bushel after closing up 2.1 percent on Thursday when prices hit a high of $4.06-3/ 4...

  • WASHINGTON, July 20- Amazon, facing potential criticism of its plan to buy Whole Foods Markets, continued its multi-million lobbying effort- shelling out $3.2 million in the second quarter of this year- an increase from the $2.9 million spent in the first three months. But their decision, announced in June, to buy premium grocer Whole Foods for $13.7 billion roiled...