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  • ATHENS, Greece— Emissaries from Greece's international creditors are holding a second day of preparatory talks with Greek officials, ahead of higher-level negotiations later this week on the country's new multi-billion euro lifeline. The aim is to thrash out the terms of the deal— worth about 85 billion euros over three years— before Aug. 20, when Greece must...

  • LONDON, July 28- All of Britain's so-called "big four" supermarkets saw sales fall over the last 12 weeks in an overall market that grew marginally, with discounters continuing to take share from their bigger rivals, industry data showed on Tuesday. Kantar Worldpanel said Asda, the British arm of U.S. retailer Wal-Mart, suffered the biggest sales fall over the 12...

  • PORTLAND, Ore. _ Precision Castparts Corp. on Tuesday reported fiscal first-quarter net income of $399 million. Precision Castparts expects full-year earnings to be $12.25 to $13.15 per share, with revenue in the range of $10 billion to $10.4 billion. Precision Castparts shares have dropped 22 percent since the beginning of the year, while the Standard& Poor's...

  • LOD, Israel _ AudioCodes Ltd. on Tuesday reported a loss of $1.9 million in its second quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share. AudioCodes expects full-year earnings in the range of 9 cents to 12 cents per share, with revenue in the range of $137 million to $143 million.

  • *Details widening U.S. probe into Puerto Rico unit. ZURICH, July 28- U.S. authorities have widened a probe into bond funds sold by UBS's Puerto Rico arm, the Swiss bank announced on Tuesday, alongside figures showing it has used up some of the money it set aside to cover legal costs and regulatory fines. They stood at 2.37 billion Swiss francs at the end of June, down from...

  • TULSA, Oklahoma, July 28- The rebound in U.S. jobs, limited in the early part of the recovery to a handful of booming industries such as oil, has broadened across the country as old-line industrial areas such as Michigan and sun belt hubs like Florida pick up the slack. Riding the shale oil and gas boom, Texas, Louisiana, Oklahoma and three other states made an outsized...

  • VIENNA, July 28- Austria's highest court on Tuesday overturned a law that wiped out some junior debtholders in defunct lender Hypo Alpe Adria, raising chances they could get part of their money back. Passed last year, the law effectively cancelled 890 million euros of subordinated debt guaranteed by Hypo's home province of Carinthia, a move that drew howls of...

  • *Norway production, refineries boost result. OSLO, July 28- Norway's Statoil reassured investors on Tuesday by maintaining its dividend for the second and third quarters after posting better-than-expect results, despite taking a hit from the slump in oil prices. CEO Eldar Saetre reiterated that the oil price needs to be at $100, $80 and $60 a barrel in 2016, 2017...

  • LONDON, July 28- BP's second-quarter profit slumped by nearly two thirds from a year ago as it grappled with lower crude prices and took a huge $10.8 billion charge related to the 2010 Gulf of Mexico oil spill. While BP had been expected to take a $10 billion charge for this at some point, it said on Tuesday it had also agreed to pay up to $1 billion to resolve claims from...

  • *Kering, Statoil up on encouraging company updates. LONDON, July 28- European shares bounced back on Tuesday, lifted by strong company results and news of acquisitions after falling in the previous five sessions on concerns over China's growth. RSA Insurance Group surged 11.3 percent after Zurich Insurance said it was weighing up a bid for the British group with...

  • China's already-volatile benchmark stock index, with a combined market capitalisation of $4.6 trillion, has lost 10 percent in the last two days of trade. "Typically, equity markets do have a high correlation to quarterly GDP growth," Deutsche Bank strategist Michael Lewis said. Brent had fallen 78 cents to $52.69 a barrel by 0821 GMT, having hit a session low of...

  • LONDON, July 28- Next, Britain's second-largest clothing retailer, nudged up its annual sales and profit forecasts after beating its own guidance for first-half sales growth, boosted by warm weather in June and July. Shares in the firm, which trades from more than 500 shops in Britain and Ireland, about 200 mainly franchised stores overseas and the Directory...

  • *European, U.S. stocks shrug off China fall. Germany's DAX, France's CAC 40 and Britain's FTSE 100 were all up around 0.5 percent too, while S&P futures pointed to similar gains at the open on Wall Street. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan ended the day 0.2 percent higher after falling nearly 1 percent early on, touching its lowest...

  • LONDON, July 28- The dollar rose from a two-week low against the yen on Tuesday, as investors brushed off China's stock market rout and focused instead on the possibility of a 2015 U.S. interest rate rike ahead of the start of a Federal Reserve meeting. The dollar gained a third of a percent to 123.66 yen, up from its low of 123.01 yen on Monday. "We're in for a little bit of a...

  • HONG KONG, July 28- Hong Kong blue chip stocks rose on Tuesday, bucking falls for mainland shares, on hopes for a stabilizing China market as Beijing hinted at further monetary easing. The Hang Seng Index, which touched a three-week low early Tuesday, rose 0.6 percent, its biggest daily gain since July 17, to 24,503.94. China Eastern Airlines' Hong Kong shares dropped...

  • BRUSSELS, July 28- Dutch brewer Heineken and spirits maker Diageo have agreed to end their 11- year cooperation in South Africa and Namibia in a series of deals to disentangle joint ventures. Diageo, whose brands include Johnnie Walker, Smirnoff and Guinness, said it had become market leader in spirits in South Africa with a 40 percent share and felt it had the...

  • MOSCOW, July 28- Russia's gross domestic product shrank by 4.2 percent in June from a year earlier but the contraction was shallower than May's revised 4.8 percent fall, adding to signs the economy may have started to stabilise. Russia's growth prospects deteriorated sharply midway through last year, when an existing slowdown was compounded by Western...

  • Following recent speculation, Switzerland- based Zurich, a 45 billion Swiss franc firm offering a range of life and general insurance products, said it was looking at a bid. "Zurich notes the recent market speculation in relation to RSA Insurance Group PLC and confirms that the company is evaluating a potential offer," it said on Tuesday. Barclays analysts said...

  • HELSINKI— Norwegian energy company Statoil says it was hit by lower oil prices, increased depreciation and higher drilling costs in the second quarter, causing net profit to fall 16 percent to 10.1 billion kroner. Revenue dropped to 124 billion kroner in the period, down from more than 142 billion kroner a year earlier. Statoil said it expects pre-tax cash flow...

  • LONDON— BP reported a second-quarter loss Tuesday after the London- based oil company set aside another $10.8 billion to cover the cost of the Deepwater Horizon accident. The net loss of $5.82 billion compared with net income of $3.37 billion a year earlier. The report is the first since BP announced a deal that will provide a further $18.7 billion to five U.S....