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  • MANILA, Aug 4- Gold hovered near a 5-1/ 2- year low on Tuesday, still pressured by expectations that the Federal Reserve was well on course to raise interest rates this year. "I think it underscores our sense that the Fed may take a cautious approach, hence perhaps defer the first hike to December," said Vishnu Varathan, senior economist at Mizuho Bank in Singapore.

  • "As with any complex negotiation... there remain details to be hashed out," Kerry said in a speech during a stop in Singapore on his way to meetings of the 10 nation Association of South East Asian Nations (ASEAN) in Malaysia on Wednesday. "Last week in Hawaii, we made good progress in our negotiations," he said adding that countries negotiating the 12- nation...

  • TOKYO, Aug 4- Toyota Motor Corp posted a third straight year of record first-quarter net profit on Tuesday, easily beating analyst estimates, as costs cuts and currency gains made up for slightly weaker vehicle sales. April-June profit jumped 10 percent to 646.39 billion yen versus the 607.5 billion yen average estimate of 11 analysts polled by Thomson Reuters.

  • Toyota Motor Corp. had a fiscal first quarter profit of 646.3 billion yen, up from $587.7 billion a year earlier. But it sold about 127,000 fewer vehicles compared to last year, at 2.1 million vehicles during the quarter, as sales languished in Japan, other parts of Asia, and Europe. The manufacturer of the Prius hybrid, Lexus luxury model and Camry sedan was hit by a...

  • FRANKFURT, Germany— German luxury automaker BMW AG saw net profit slip 1 percent in the second quarter amid higher launch costs for new vehicles as key models approach the end of their life cycle, the company said Tuesday. Munich- based BMW also said it sold a less profitable mix of vehicles, containing more compact cars that typically have lower profit margins.

  • Speaking in Singapore, Kerry said the so-called " Trans Pacific Partnership" would benefit the people of all nations involved and serve as a model for responsible global industry and commerce. His address at Singapore Management University comes just days after trade ministers failed to bridge final gaps and seal the accord at talks in Hawaii.

  • LONDON— The U.K. government says it has sold 5.4 percent of taxpayer-owned Royal Bank of Scotland for 2.1 billion pounds as it begins to shed a stake acquired at the height of the financial crisis in 2008.. The Treasury said Tuesday it sold the shares for 330 pence each, or 2.3 percent less than Monday's closing price. Treasury chief George Osborne says, "This is an...

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Aug 4- It may have begun with some promise, but an attempt by natural rubber producers to drive prices higher by trimming supply has flopped less than four months after it started. Asia's rubber benchmarks are now below where they were in late April, when at least 10 major producing companies said they...

  • TOKYO, Aug 4- Japan's Nikkei share average edged down on Tuesday on weakness in manufacturing activity in China and the United States, prompting investors to rotate out of cyclicals to defensive stocks such as drugmakers. Suppliers to Apple Inc tumbled as the tech giant's shares hit six-month lows, continuing a downward trend in place since its earnings two...

  • TOKYO, Aug 4- Toyota Motor Corp posted a 10 percent rise in first-quarter net profit on Tuesday, beating analyst estimates, as costs cuts and currency gains made up for weaker global vehicle sales. April-June profit reached 646.39 billion yen versus the 607.5 billion yen average estimate of 11 analysts polled by Thomson Reuters. The Japanese automaker left its...

  • PARIS, Aug 4- Credit Agricole's new chief executive made his mark on Tuesday with a management reshuffle, as the bank nears a settlement with U.S. authorities over possible sanctions breaches. Like his predecessor, Brassac, 55, has spent his entire career at Credit Agricole, but away from its financial headquarters in Paris, mostly in the south of France.

  • Benchmarks in Taiwan, Singapore and Indonesia fell. CHINA WEAKNESS: Two recent surveys showed China's giant manufacturing industry weakened in July, suggesting government efforts to stimulate the world's No. 2 economy aren't gaining broad traction. We saw a surprise downward adjustment to China's gauge for smaller manufacturers' activity, signaling...

  • SYDNEY, Aug 4- Australia's central bank held interest rates at record lows on Tuesday in a widely expected decision, but surprised markets by toning down calls for a further fall in the local dollar. The currency jumped half a U.S. cent to $0.7348 after the Reserve Bank of Australia dropped a reference to a further decline being necessary, saying only that the...

  • *Loonie hits 11- year lows as oil prices sink on China worries. TOKYO/ SYDNEY, Aug 4- The Australian dollar rose on Tuesday after the Reserve Bank of Australia took a more measured view on the currency's weakness, while the Canadian dollar languished at 11- year lows as a continuing selloff in oil prices thrust the loonie and other commodity currencies into the...

  • NEW YORK, Aug 4- In 1964, Irwin Lipkin became one of the first employees at a small New York trading firm called Bernard L. Madoff Investment Securities. Five decades later, Lipkin, 77, is set to be sentenced on Wednesday in Manhattan federal court for falsifying records, marking the end of the criminal case stemming from the collapse of Madoff's...

  • SAN FRANCISCO, Aug 4- Steve Gutmann used to have a basement that he never used. His Honda Civic sat idle in front of his Portland, Ore. house. Now strangers use Getaround.com to book Gutmann's $6- an-hour car for errands and travelers stay in his newly refurbished basement apartment, listed at $115 a night on AirBnb.

  • TOKYO, Aug 4- Asian shares cautiously nudged into positive territory on Tuesday after downbeat economic data pressured Wall Street ahead of a key U.S. jobs report that could provide important clues to the timing of the Federal Reserve's interest rate increase. MSCI's broadest index of Asia-Pacific shares outside Japan was slightly higher, while Japan's...

  • HONG KONG, Aug 4- China stocks rose just over one percent on Tuesday morning after Chinese authorities announced new measures to crack down on short selling, which has been partly blamed for the plunge in mainland equities last month. Both the Shenzhen and Shanghai stock exchanges unveiled measures that would make it more difficult for speculators to profit...

  • TOKYO, Aug 4- The benchmark 10- year Japanese government bond yield hit a two-month low on Tuesday after an auction of the maturity was met with firm investor demand. The 10- year JGB yield was down 1 basis point at 0.40 percent after touching 0.39 percent, the lowest since May 29. Japan's finance ministry offered 2.4 trillion yen of 10- year debt on Tuesday, with...

  • SHANGHAI, Aug 4- China's yuan was flat against the dollar on Tuesday after the central bank set the official guidance rate almost unchanged, sending a message that monetary authorities wish to see the currency steady for the moment, traders said. China's economy is slowing, exerting downward pressure on the yuan. In a related development, China's Ministry of...