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  • DETROIT, Aug 3- U.S. auto sales were stronger than expected in July and kept the industry on pace for its best performance since 2001 as cheaper gasoline and low interest rates drove the continuing shift toward sport utility vehicles and pickup trucks. With automakers reporting monthly sales on Monday, Ford Motor Co said U.S. auto industry sales of 1.55 million...

  • It may become harder for businesses to classify workers as freelancers rather than employees following a Labor Department opinion issued last month. Previously, the Labor Department, the IRS and courts have focused on who has control over a worker— whether the work takes place on the employer's premises, the hours the worker spends on the job, who supplies tools...

  • LONDON, Aug 3- Ex-trader Tom Hayes was sentenced to 14 years in jail by a London court on Monday after being found guilty of conspiring to rig Libor benchmark interest rates following a seven-year global investigation. In the first trial of a defendant accused of Libor rigging, Hayes had faced up to 10 years imprisonment for each count of conspiracy over the...

  • ATHENS, Aug 3- Greece's stock market closed with heavy losses on Monday after a five-week shutdown brought on by fears the country was about to be dumped from the euro zone. The main Athens stock index ended down 16.2 percent, recovering slightly after plunging nearly 23 percent at the open. "The market tanked, as expected," said Takis Zamanis, chief trader at Athens-...

  • ATHENS, Aug 3- Greece and its lenders discussing a third multi-billion-euro bailout deal have agreed that pension reforms will affect only those who retired after the end of June, labor ministry officials said on Monday. When creditors agreed in July to negotiate a deal aimed at keeping it afloat and in the euro zone, Greece committed to implementing major...

  • GROTON, Conn.— As it tries to get the most out of each of its $2.6 billion attack submarines, the U.S. Navy is finding a lot depends on the right paint job. Mike Stevens, a manager for the Virginia-class submarine program at Naval Sea Systems Command. The changes were developed by private and government shipyards in response to a request from the Navy, which wants to...

  • LONDON, Aug 3- Tom Hayes, a British former trader, was sentenced to 14 years in jail by a London court on Monday after becoming the first person to be convicted by a jury of conspiring to rig Libor benchmark interest rates following a seven-year global investigation.

  • JPMorgan's Global Manufacturing Purchasing Managers' Index, produced with Markit, held steady at June's 51.0 last month, matching April's near two-year low. "The lackluster trend in new orders suggests the soft growth patch may continue in the coming months," said Joseph Lupton, senior economist at JPMorgan. The global PMI combines survey data from countries...

  • NEW YORK, Aug 3- U.S. long-dated and benchmark Treasuries yields hit their lowest levels in two months on Monday after weaker-than-expected U.S. economic data damped expectations that the Federal Reserve will hike interest rates in September. The Institute for Supply Management said its index of national factory activity fell to 52.7 in July from 53.5 the...

  • BOSTON— The Boston Symphony Orchestra is extending the contract of music director Andris Nelsons, who last year become the orchestra's youngest conductor in a century. The 36- year-old Latvian-born Nelsons previously served as music director for the Latvian National Opera and the Birmingham Symphony Orchestra in England. He said in a statement that he was...

  • LAVAL, Quebec, Aug 3- Canada will stick with Pacific Rim trade negotiations despite the country being in the middle of an election campaign, Conservative Prime Minister Stephen Harper said on Monday. "It is important that Canada remain at the table. Canada is under pressure at the TPP talks to open up its heavily protected dairy sector, a concept that is sensitive...

  • CHICAGO— Grain futures were lower in early trading Monday on the Chicago Board of Trade. Wheat for September delivery was 7.5 cents lower at $4.9175 a bushel; December corn was 4 cents lower at $3.7725 a bushel; December oats were 9.25 cents lower at $2.4775 bushel; while November soybeans fell 8.25 cents to 9.32 cents a bushel. October live cattle was 2.025 cents...

  • NEW YORK— Barnes& Noble completed the spinoff of its college book store business, made up of more than 720 stores on college and university campuses. The company said last month that Sears Canada CEO Ronald Boire would take over as CEO of Barnes& Noble Inc. in October, replacing Michael Huseby, who will become executive chairman of Barnes& Noble Education.

  • BUFFALO, N.Y.— The clock is ticking for leaders of New York's most chronically underperforming public schools, who under a new state law must quickly begin to turn things around or lose control to an outsider— a tactic that has produced mixed results elsewhere. On the other hand, Buffalo parent leader Sam Radford sees "the dawn of a new day" for schools where progress...

  • MEXICO CITY, Aug 3- Mexican companies warn they will have to raise prices if a steep slide in the peso currency persists, adding pressure on the central bank to hike interest rates despite a weak economy. Price hikes by manufacturers could push service providers to follow suit, unleash demand for higher wages and undo Mexico's success in bringing down inflation.

  • MUMBAI, Aug 3- India's Supreme Court on Monday asked the markets regulator to submit an application by September 14 seeking its approval to appoint a receiver to auction conglomerate Sahara's assets and refund investors in the troubled group's illegal bonds. The Supreme Court is "contemplating" appointing a receiver to auction Sahara properties, Shekhar...

  • MEXICO CITY, Aug 3- Mexico's manufacturing sector sentiment climbed in July as a slump in the peso helped boost new export orders to their highest reading in more than four years, a survey showed on Monday. Markit economist Tim Moore said the depreciation of the peso, which has fallen more than 25 percent against the dollar over the past year, helped boost new export...

  • ATHENS, Aug 3- Greek stocks unofficially closed with losses of 16.2 percent on Monday, the first day of trade after a five- week shutdown.

  • *Consumer spending increases 0.2 percent in June. *Personal income rises 0.4 percent, savings up. WASHINGTON, Aug 3- U.S. consumer spending in June advanced at its slowest pace in four months as demand for automobiles softened, suggesting the economy lost some momentum at the end of the second quarter.

  • LONDON, Aug 3- Volatility has returned to zinc spreads on the London Metal Exchange. Things have quietened down a little today but there is plenty of potential for more fun and games on the nearby spreads ahead of Aug. 19, this month's third-Wednesday prime prompt date. The outright three-month price is still sliding, touching a low point of $1,882.50 this morning,...