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  • LONDON— Britain's economy grew faster than expected in the second quarter— a period that mostly pre-dates the vote to leave the European Union— with expansion across services, particularly in retailing and auto manufacturing. The Office of National Statistics said Wednesday that the economy grew by a quarterly rate of 0.6 percent, up from 0.4 percent in the...

  • LONDON, July 27- Emerging stocks touched 11- month highs on Wednesday, boosted by news of additional Japanese stimulus and shrugging off a sharp drop in mainland shares in China, where fears of a fresh regulatory crackdown are weighing. Some nerves were jangled by a 2 percent fall in Shanghai- listed shares, which posted their worst day in six weeks while the...

  • PARIS, July 27- AccorHotels said on Wednesday it had entered exclusive talks to buy concierge service provider John Paul, further beefing up its response to the challenges of Airbnb. Under the terms of the deal, AccorHotels- the world's fifth-largest hotel group- will acquire 80 percent of John Paul for about $150 million in equity and debt, with the company's...

  • MADRID, July 27- Santander's profit was slightly above forecasts in the second quarter, despite falling 50 percent year-on-year, and the euro zone's biggest bank's shares rose on Wednesday on lower provisions for bad loans and an improvement in Brazil. A 20 percent profit rise in Brazil over the first quarter pointed to a recovery in a country stuck in its worst...

  • LONDON, July 27- Reports of a larger than previously expected fiscal stimulus plan for Japan had the yen back on the defensive on Wednesday, as investors bet the Bank of Japan would match that with a new bout of money-printing aimed at weakening its currency. The latest volley in that debate was a report by the Wall Street Journal, again denied by the Ministry of...

  • PARIS, July 27- French automaker PSA Group shrugged off a drop in Chinese sales and an ageing lineup to deliver record first-half profit, as Chief Executive Carlos Tavares made progress on his turnaround plan for the maker of Peugeot, Citroen and DS cars. But the Paris- based carmaker fell behind archrival Renault in global deliveries for the first half, as sales of...

  • NORTH CHARLESTON, S.C.— Mercedes-Benz Vans is breaking ground on a new $500 million assembly plant to build Sprinter vans in South Carolina, an operation that will add about 1,300 jobs to the state's burgeoning automotive workforce. The plant will manufacture vans under the Mercedes-Benz and Freightliner nameplates. BMW employs about 8,000 workers at its...

  • SHANGHAI, July 27- Hong Kong shares finished modestly higher on Wednesday, shaking off sharp losses in mainland China markets. The Hang Seng index rose 0.4 percent to 22,218.99 points, while the China Enterprises Index gained 0.6 percent to 9,115.29. China stocks closed sharply lower, with major indexes suffering their worst daily losses in six weeks, as...

  • Government says decision a clear vote of confidence in UK. LONDON, July 27- GlaxoSmithKline plans 275 million pounds of new investments at three drug manufacturing sites in Britain, signaling its confidence in the country despite last month's vote to leave the European Union. Britain's biggest drugmaker, which had argued against Brexit before the referendum,...

  • BEIJING, July 27- China's trade deficit in services widened to $19.4 billion in June from $19.1 billion in May, the foreign exchange regulator said on Wednesday. June's deficit was largely due to a $17.8 billion gap in spending between Chinese, who spent more abroad than foreign tourists in China, data from the State Administration of Foreign Exchange showed.

  • SHANGHAI, July 27- China stocks closed sharply lower on Wednesday, with major indexes suffering their worst daily losses in six weeks, as investors sold off on worries that regulatory changes are coming. That appeared to add force to media reports that regulators were preparing to restrict China's vast retail wealth management sector from buying stocks.

  • Quarterly sales shrank 8.4 percent to 2.65 trillion yen due to a stronger yen, which slams overseas earnings for exporters like Nissan. Yokohama- based Nissan, which makes the March subcompact, Infiniti luxury brand and the Leaf electric vehicle, kept its full-year forecast for a 525 billion yen profit, up slightly from the 524 billion yen earned the previous...

  • LONDON— GlaxoSmithKline is investing some 275 million pounds into three plants in Britain, sweeping aside concerns about growth following the country's decision to leave the European Union. The pharmaceutical giant's chief executive Andrew Witty said Tuesday that the Britain's "competitive corporate tax system" and skilled workforce influenced the...

  • The GDP data due at 0830 GMT is forecast to show 2 percent year-on-year growth, but it will only incorporate one week of the period after Britain's vote to leave the EU. "They do give us an idea of how the economy was set up going into the referendum so they're not completely insignificant," said RBC Capital Markets currency strategist Adam Cole.

  • KUALA LUMPUR, Malaysia— Malaysia Airlines has agreed to buy up to 50 Boeing Max planes in a deal worth $2.75 billion as part of its fleet renewal and says it hopes for a listing on the stock exchange by 2019.. The airline's new CEO, Peter Bellew, says the deal inked Wednesday includes 25 firm orders, worth $2.75 billion, and the right to purchase another 25 jets, with...

  • *Copper prices seen at $4,890 average in 4 Q- NAB. MELBOURNE, July 27- London copper dropped to near one-week lows on Wednesday as sentiment soured in China, and ahead of the outcome of the U.S. China stocks tumbled on fears of tighter regulatory restrictions after Beijing officials earlier this week warned about asset bubbles.

  • SINGAPORE, July 27- Coal prices in 2016 have regained their footing above the psychological threshold of $50, leaving the oil industry wondering when crude prices will return to form. Starting June 1, benchmark API2 coal futures in Rotterdam have rallied 20 percent to around $60 a tonne, the highest in a year, while Asia benchmark API4 futures have climbed 15.6...

  • TOKYO— Japanese video game maker Nintendo Co. sagged into a loss of 24.53 billion yen for the fiscal first quarter through June, despite the global success of the "Pokemon Go" augmented reality game. The Pokemon Co., a Nintendo affiliate, will get licensing fees and other compensation for the mobile game distributed by Niantic Inc., but that won't have much impact...

  • LONDON, July 27- Britain's government has approved a 344 million pounds expansion to London City Airport, finance minister Philip Hammond said on Wednesday. London City is located a few miles east of the Canary Wharf financial district and mostly handles short-haul flights to business destinations within Europe. Hammond is keen to boost investment and...

  • TOKYO, July 27- Japanese Prime Minister Shinzo Abe said his government would compile a stimulus package of more than $265 billion next week to reflate the flagging economy, although it was unclear how much would be spent to directly boost growth. The size of the package, at 28 trillion yen, exceeds initial estimates of around 20 trillion yen and is nearly 6 percent...