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Wires

  • LONDON, June 29- Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session after a decline in weekly U.S. production eased concerns about deepening oversupply. Global benchmark Brent crude futures were up 43 cents at $47.74 a barrel at 1321 GMT, having touched a two-week high of $47.98 earlier in the session.

  • June 29- The S&P 500 and the Dow Jones Industrial Average opened slightly higher on Thursday as bank stocks gained after the Federal Reserve cleared them in the second part of its annual stress test while a drag in tech stocks weighed on the Nasdaq. The Dow Jones Industrial Average rose 16.51 points, or 0.08 percent, to 21,471.12. The S&P 500 gained 1.17 points, or...

  • BERLIN/ MADRID, June 29- German and Spanish consumer prices rose more than expected in June, giving the European Central Bank fresh food for thought as euro zone inflation moves closer to its target and markets price in a tightening shift in monetary policy. The surprisingly strong inflation figures released on Thursday come only days after ECB head Mario...

  • WASHINGTON, June 29- The U.S. economy slowed less sharply in the first quarter than initially estimated due to unexpectedly higher consumer spending and a jump in exports, beating expectations and providing a slightly more encouraging outlook for growth this year. Gross domestic product increased at a 1.4 percent annual rate instead of the 1.2 percent pace...

  • WASHINGTON, June 29- Visa applicants from six Muslim-majority countries must have a close U.S. family relationship or formal ties to a U.S. entity to be admitted to the United States under guidance distributed by the U.S. State Department. The six nations included in the executive order are Iran, Libya, Somalia, Sudan, Syria, and Yemen. Asked about the guidance issued...

  • *UK government intends to submit deal to in-depth probe. LONDON, June 29- Britain intends to subject Rupert Murdoch's takeover of European pay-TV group Sky to a lengthy in-depth investigation after finding the $14.8 billion deal risks giving the media mogul too much power over the news agenda. Bradley had asked regulators to examine whether Fox would have too...

  • WBA shares rise 5 pct, RAD and Fred's shares fall 20 pct. Rite Aid's shares plunged 22 percent to $3.07, while Walgreens shares were up 5 percent at $81.02. The previous $9.5 billion deal, announced in October 2015, faced tough antitrust scrutiny as regulators deliberated over the effects of a merger between the No. 1 and No. 3 drug store chains in the United States...

  • BERLIN, June 29- Significant costs are expected to be incurred from new security measures on flights to the United States, which will likely be borne by airports, airlines and passengers, European airports association ACI Europe said on Thursday. The measures, announced on Wednesday by the Department of Homeland Security and applicable to all commercial...

  • LONDON, June 29- British household borrowing jumped last month, bucking expectations of a slowdown and suggesting consumers might be upbeat enough for the Bank of England to start raising interest rates later this year. Consumers-- the drivers of the country's economic growth-- are under pressure from a rise in inflation after last year's vote to leave the...

  • SYDNEY, June 29- BHP Billiton's Chairman Jac Nasser said on Thursday BHP's $20 billion investment in U.S. shale oil and gas six years ago was, in hindsight, a mistake. Activist shareholder and hedge fund Elliott Management, holding 4.1 percent of BHP's London- listed shares, has been trying to gain support from other shareholders to persuade BHP to sell the shale oil...

  • DHAKA, Bangladesh— Leading global fashion brands and trade unions have agreed to continue a safety program involving thousands of garment factories in Bangladesh for another three years. Two Switzerland- based global trade unions— IndustriALL Global Union and UNI Global Union— and brand representatives announced the agreement after it was signed in Paris...

  • BASSETT, Va. _ Bassett Furniture Industries Inc. on Thursday reported fiscal second-quarter earnings of $5.8 million. The Bassett, Virginia- based company said it had net income of 54 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • June 29- The S&P 500 and the Dow Jones Industrial Average were set to open slightly higher on Thursday as banks gained after the Federal Reserve cleared them in the second part of its annual stress test program. "The banks will be in the spotlight today as all of the U.S. banks passed the stress test setting the stage for the indices to hold on to Wednesday's gains," said...

  • NEW YORK— Millennials no longer have to choose between a home or avocado toast. At least, that's the deal online lender SoFi is offering. The company said Thursday it will give a month's worth of avocado toast to anyone who takes out a mortgage with it in July.

  • DAR ES SALAAM, June 29- The Tanzanian government submitted three bills to parliament on Thursday that would allow it to force mining and energy companies to renegotiate their contracts, the latest in a string of moves that have alarmed foreign investors. It was not immediately clear how the proposed renegotiation of contracts would affect a planned $30...

  • STOCKHOLM, June 29- Swedish fashion retailer H&M will struggle to hit its sales target this year after falling short in the first half and as key markets such as China and the United States remain challenging, it said on Thursday. CEO Karl-Johan Persson told Reuters it was looking "tough" to reach a target given in January for 10 percent to 15 percent sales growth...

  • ATLANTA _ Acuity Brands Inc. on Thursday reported fiscal third-quarter profit of $82.2 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.98 per share. Eight analysts surveyed by Zacks expected $881.4 million.

  • *Bund yields at 7- wk high, 5- year yields highest since March 2016. LONDON, June 29- Germany's 10- year government bond yield rose to a seven-week high on Thursday, with investors unable to shake off jitters that the European Central Bank is getting ready to scale back its massive monetary stimulus programme in the months ahead. Data showing inflation in Germany,...

  • *Follows six-year stint at Eton Park's London office. LONDON, June 29- A credit trader at the London office of Eric Mindich's $7 billion New York hedge fund, Eton Park, which said about three months ago that it was shutting down, is looking to open his own firm, three sources with direct knowledge of the matter said. Singh worked for Eton Park for roughly six years after a...

  • WASHINGTON— Weekly claims for unemployment benefits rise by 2,000 to 244,000, still historically low level.