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Wires

  • The funds say their cross-holdings reflect a long-term commitment to Puerto Rico, and give them more of a stake than other creditors in righting the island's ship. It adds a wrinkle to already complex restructuring talks, muddying the path to recovery for investors who tied up their savings in Puerto Rico. While it is not rare for a creditor to hold multiple...

  • *US M&A in China at $523 mln in 1 H, lowest since 2003. *US' China deals dropped 87 percent from the first half of 2015. The value of mergers and acquisitions involving American companies in China dropped 32 percent to just $523 million in the six months to June 30 from $771 million in the same period last year, and were down 87 percent from $4 billion in the first six months...

  • WASHINGTON, July 28- The U.S. economy likely accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, which would confirm that the sluggish performance early in the year was temporary. The Commerce Department will release its advance second-quarter GDP estimate on Friday at 8:30 a.m. EDT.

  • The funds say their cross-holdings reflect a long-term commitment to Puerto Rico, and give them more of a stake than other creditors in righting the island's ship. It adds a wrinkle to already complex restructuring talks, muddying the path to recovery for investors who tied up their savings in Puerto Rico. While it is not rare for a creditor to hold multiple...

  • The funds say their cross-holdings reflect a long-term commitment to Puerto Rico, and give them more of a stake than other creditors in righting the island's ship. It adds a wrinkle to already complex restructuring talks, muddying the path to recovery for investors who tied up their savings in Puerto Rico. While it is not rare for a creditor to hold multiple...

  • The funds say their cross-holdings reflect a long-term commitment to Puerto Rico, and give them more of a stake than other creditors in righting the island's ship. It adds a wrinkle to already complex restructuring talks, muddying the path to recovery for investors who tied up their savings in Puerto Rico. While it is not rare for a creditor to hold multiple...

  • TOKYO— Japan is slapping emergency tariffs of 50 percent on imports of frozen U.S. beef after shipments surged. Under World Trade Organization rules, Japan can introduce such safeguard tariffs when imports rise more than 17 percent year-on-year in any given quarter. But the U.S. also faces stiff competition from Australia, whose free trade agreement with Japan...

  • *Hike to hurt U.S. beef producers, Japan restaurants- trade body. TOKYO/ SINGAPORE, July 28- Japan's Ministry of Finance said on Friday the country will raise tariffs on frozen beef imports from the United States and other countries from August to protect domestic producers. The increase threatens a significant sector of United States' access to the biggest Asian...

  • ZURICH, July 28- UBS kept a cautious outlook on the second half of 2017 on Friday after it reported an unexpected rise in second-quarter net profit, boosted by higher earnings at its flagship wealth management business. The world's largest wealth manager reported 1.174 billion Swiss francs in second-quarter net profit, up 14 percent from a year earlier and far...

  • *Q2 net up 84 pct to $654 mln. The result comes as Baidu narrows its attention to just a handful of areas outside its core business, while the other two of China's big-three tech firms- Tencent Holdings Ltd and Alibaba Group Holding Ltd- spend billions of dollars expanding into sundry sectors in multiple markets. Baidu said net profit hit 4.41 billion yuan in the...

  • *U.S. gross domestic product data due at 1230 GMT. "Our feeling is that the number will be in line to somewhat below the 2.8 figure forecast, in which case we could see another modest advance in gold," said INTL FCStone analyst Edward Meir. Spot gold was little changed at $1,257.55 per ounce.

  • SYDNEY, July 28- U.S. wheat remained steady on Friday and was poised to finish the week down 4 percent as fears of tighter global supplies waned despite the dry weather across North America. The most active wheat futures on the Chicago Board Of Trade were unchanged at $4.79-3/ 4 a bushel, after closing up 0.4 percent in the previous session. "Prices are now firmly back...

  • July 27- Wells Fargo and Co said it would reimburse about $80 million to 570,000 customers who may have been charged wrongly due to issues related to auto collateral protection insurance policies. Wells Fargo said late Thursday it would pay back $80 million to customers wrongly charged for car loan insurance in the coming months, which included $64 million in...

  • ZURICH, July 28- UBS kept a cautious outlook on the second half of 2017 on Friday after it reported an unexpected rise in second-quarter net profit, boosted by higher earnings at its flagship wealth management business. The world's largest wealth manager reported 1.174 billion Swiss francs in second-quarter net profit, up 14 percent from a year earlier and far...

  • COLUMBUS, Ohio— A high school student who dreamed for years of joining the military and had just enlisted in the Marines was killed when a spinning and swinging thrill ride broke apart and sent several of its passengers tumbling onto the midway at the Ohio State Fair. Tyler Jarrell, of Columbus, was thrown about 50 feet and pronounced dead on the midway.

  • July 28- China's yuan was subdued on Friday after the central bank fixed a weaker mid-point and the dollar eased off multi-month lows, but will likely stay under pressure on corporate dollar demand. Before the market opened, the People's Bank of China set the midpoint rate at 6.7373 per dollar, weaker than the previous fix of 6.7307, which was its strongest in nine...

  • TOKYO, July 28- Japanese government bond prices fell across the board on Friday as the market tracked an overnight retreat by U.S. Treasuries, although losses were limited as Tokyo's Nikkei share average fell. The JGB market showed little reaction to domestic political developments, with scandal-hit Japanese Defence Minister Tomomi Inada's resignation on...

  • *June household spending +2.3 pct yr/yr vs forecast +0.6 pct. TOKYO, July 28- Japanese household spending hit its highest for two years in June as unemployment fell and job availability reached a 43- year peak, official figures showed, but inflation gave little sign of getting much closer to the Bank of Japan's price target. A summary of opinions from the BOJ's July...

  • HOUSTON _ National Oilwell Varco on Thursday reported a loss of $75 million in its second quarter. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for a loss of 14 cents per share. National Oilwell Varco shares have fallen 10 percent since the beginning of the year, while the Standard& Poor's 500 index has increased 11 percent.

  • *China Eastern to pay $438 mln for Air France KLM stake. SINGAPORE/ SHANGHAI July 28- China Eastern Airlines Corp Ltd said on Friday it is buying a 10 percent stake in Europe's Air France KLM SA, in what will be the first investment by one of China's three largest state-owned airlines in a Western carrier. China Eastern said its 375 million euro investment in Air...