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  • LONDON, July 26- British oil major BP reported lower-than-expected profit for the second quarter due to weak refining margins and oil prices, prompting another cut to its 2016 investment budget to below $17 billion. BP reported a second-quarter underlying replacement cost profit, the company's definition of net income, of $720 million, down from $1.3 billion...

  • TOKYO, July 26- Japan's Nikkei share average fell to a near 2- week low on Tuesday as the yen firmed against the dollar ahead of the U.S. Federal Reserve's two-day policy meeting, hurting shares of exporters. The Nikkei fell 1.4 percent to 16,383.04 points, its lowest closing level since July 13.

  • RANDOM LAKE, Wis.— Cone heads, zombies, beards, bananas— they are some of the creative beer tap handles that have become a big business as the number of craft breweries has skyrocketed. There were 2,033 craft breweries in 2011 compared to 4,144 last year, according to the Brewers Association. It behooves breweries to stay within the guidelines, says Rob Zellermayer,...

  • *Asia shares ex- Japan still eke out one-year peak. SYDNEY, July 26- Caution was the watchword among investors on Tuesday, with equity markets mixed and the yen scampering higher ahead of central bank meetings in the United States and Japan. MSCI's broadest index of Asia-Pacific shares outside Japan did edge up 0.7 percent to reach its highest in almost a year, aided...

  • ROME/ MILAN, July 26- Specialist Italian pension funds have agreed to a government call to invest in bad bank loans, as Rome works to build a safety-net around Italy's No. 3 lender Monte dei Paschi ahead of European bank stress test. The Tuscan bank, which has one of the heaviest bad loan burdens in Italy, is likely to be found short of capital under an adverse scenario...

  • ISTANBUL, Turkey, July 26- Muna Awwal wants to go to school. Muna and her family arrived in Turkey from Syria in 2013. Her father Mahmud says some of the clothes are sold in Europe.

  • TOKYO, July 26- Japanese government bond prices rose on Tuesday, lifted by weaker Tokyo stocks and a firm 40- year debt auction. The benchmark 10- year JGB yield fell 1.5 basis points to a 10- day low of minus 0.260 percent, while the 30- year yield dipped half a basis point to 0.260 percent. Underlining solid investor demand for longer-dated JGBs that still offer...

  • PRINEVILLE, Oregon— It was not long ago that Crook County had five major lumber mills. So, kick us when we're down, "said Donna Barnes, Ochoco Lumber Co. accounting manager. Now, the digital revolution is providing Crook County and its main town, Prineville, with a second chance.

  • Beijing appears to be on the brink of forcing the most modern and competitive Chinese steelmaker, which is itself struggling amid a global steel glut, to rescue a loss making and heavily indebted rival in what some securities and credit analysts see as potentially a marriage made in hell. Listed units of Baosteel Group, the second-largest Chinese steelmaker,...

  • BEIJING— Chinese stocks gained Tuesday but other Asian markets fell after Wall Street declined on losses for energy stocks. Tokyo's Nikkei 225 dropped 1.5 percent to 16,364.51 and Sydney's S&P-ASX 200 shed 0.3 percent to 5,517.20. Benchmarks in Seoul and New Zealand gained while Indonesia, Singapore and Thailand retreated.

  • LONDON, July 26- Bank of England policymaker Martin Weale said he saw the economic outlook differently after much weaker-than-expected British purchasing managers' data, a week after saying he needed firmer evidence before backing an interest rate cut. Weale, speaking to the Financial Times, did not state explicitly if he would back a rate cut when the central...

  • LONDON, July 26- Britain could borrow nearly 65 billion pounds more than planned in the next couple of years as new finance minister Philip Hammond seeks to' reset' government budget policy to ease the shock of last month's vote to leave the European Union. "There is going to need to be a rethink," said Paul Johnson, director of the Institute for Fiscal Studies, a...

  • TOKYO, July 26- Japan's government is likely to inject 6 trillion yen in direct fiscal outlays into the economy over the next few years under a planned stimulus package, double the amount initially planned, the Nikkei newspaper reported on Tuesday. The Finance Ministry had initially earmarked 3 trillion yen for direct spending from national and local...

  • SINGAPORE, July 26- Oil prices rebounded from over three-month lows on Tuesday, lifted by a drop in the dollar, but concerns of ongoing oversupply weighed on markets and many traders are raising their bets on further price falls. International Brent crude oil futures were trading at $44.93 per barrel at 0501 GMT, up 21 cents from their last close.

  • *Global headwinds, Britain's EU vote muddy the waters. SAN FRANCISCO, July 26- The U.S. "That is the danger- and you can be sure that the hawks are going to be arguing that," said Alan Blinder, a Princeton University professor and a former Fed vice chairman.

  • NEW YORK/ SAN FRANCISCO, July 26- The 1923 middle school building in Oregon's Corbett School District is so old that horses and trailers were used to dig the basement. The amount of debt sold so far this year in the $3.7 trillion market for U.S. municipal and state debt is less than in 2015 despite record-low borrowing rates. The yield on top-rated municipal 30- year...

  • NEW YORK/ CHICAGO, July 26- Record low interest rates so far have failed to spur a wave of new borrowing in the $3.7 trillion U.S. municipal debt market, with one exception: its weakest borrowers are seizing the opportunity to prop up their finances at costs they can afford. Some cash-strapped areas, including Illinois and low-rated Chicago, can also issue bonds for...

  • SAN FRANCISCO, July 26- When senior Yahoo executives gathered at a San Jose hotel for a management retreat in the spring of 2006, there was no outward sign of a company in crisis. The internet pioneer, not yet a teenager, had just finished the prior year with $1.9 billion in profits on $5.3 billion in revenue. "It was all over the map," recalled Brad Garlinghouse, then a...

  • NEW YORK, July 26- U.S. oil prices topped $50 a barrel in June, boosting optimism a two-year price rout might end. "Right now, the only thing that would drive prices higher is robust demand," said John Paisie, executive vice president at Stratas Energy Advisors, a Houston- based consultancy. Instead of seeing $60 a barrel, which would support an increase in production, the...

  • Most of Yahoo's $36.4 billion market value is derived from its 15 percent stake in Chinese online commerce company Alibaba Group Holdings Ltd and its 35.5 percent stake in joint venture Yahoo Japan Corp. These are not included in Yahoo's deal with Verizon. Prior to running an auction for its core business, which included its advertising tools and internet...