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Wires

  • NEW YORK, July 21- U.S. Treasury yields fell on Friday in step with European yields as the euro hit a near two-year high against dollar, raising doubts whether the European Central Bank would scale back its bond purchases later in 2017. The U.S. and Bunds spread is moving on that after the ECB meeting, " Subadra Rajappa, head of U.S. rates strategy at SG Corporate&...

  • CANTON, Miss.— The United Auto Workers faces a strong anti-union campaign from Nissan Motor Co. as it tries to gain a foothold in the union-averse South by organizing workers at the Japanese automaker's Mississippi plant. As many as 4,000 workers will vote Aug. 3 and Aug. 4 at the vehicle assembly plant in Canton, just north of Jackson. Union supporters tried to...

  • JAKARTA/ TORONTO, July 21- An estimated 5,000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan Inc's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms. The escalating labor issue comes as Freeport, the world's largest publicly traded copper...

  • RICHMOND, Va.— An environmental assessment of the proposed Atlantic Coast natural gas pipeline finds the three-state project would have some adverse effects, including impacts on water resources, forest and other habitats, as well as endangered species. The assessment was published Friday by the Federal Energy Regulatory Commission, which oversees...

  • CHICAGO— Grain futures were lower Friday in early trading on the Chicago Board of Trade. Wheat for Sept delivery was higher 2.40 cents at $5.0820 a bushel; Sept corn was down 6.40 cents at $3.8440 a bushel; Sept oats lost. 20 cent at $2.9540 a bushel while August soybeans lost 8.40 cents to $10.0460 a bushel. August live cattle was. 63 cent higher at $1.1650 a pound;...

  • LONDON, July 21- After a brief respite at the start of the year, the world's top oil and gas companies are set to double down on cost cutting as a recovery in crude prices after a three-year slump falters. Corporate hopes were raised by a deal between members of the Organization of Petroleum Exporting Countries and other non- OPEC producers to cut production, which...

  • FRANKFURT/ MONTREAL, July 21- Canada's Bombardier and Germany's Siemens are in the final stages of talks to combine their rail operations, several sources familiar with the matter said on Friday, in a deal that would give the two added heft to compete against Chinese rail giant CRRC. Siemens' supervisory board will discuss the matter at its meeting on Aug. 2, while...

  • The Bank of Canada last week raised interest rates for the first time in nearly seven years. "The Bank of Canada hiked rates based on the outlook for growth... and in my view the numbers today really speak to that principle," said Jimmy Jean, a senior economist at Desjardins, a Canadian brokerage. "I think the Bank of Canada will be very satisfied... it keeps very alive and well...

  • *Q2 profit and revenue top Wall St estimates. GE said it would update its 2018 earnings target of $2 a share in November, later than analysts had expected. "Until this earnings reset plays out, the stock will essentially remain in a state of limbo," Deane Dray, an analyst at RBC Capital Markets, said in a note.

  • TORONTO, July 21- Canada's main stock index fell on Friday as weakness in oil prices weighed on energy-sector shares, offsetting a gain in gold miners. Oil prices dropped on Friday after a report from consultancy Petro-Logistics predicted higher OPEC production for July, renewing fears of oversupply in the market. Canadian Natural Resources Ltd shed 2.4...

  • MUMBAI, July 21- India's disruptive new mobile entrant Reliance Jio, backed by the country's richest man Mukesh Ambani, unveiled a low-cost 4 G-enabled phone on Friday to woo tens of millions of new customers, further destabilising established telecoms players. Despite Jio's rapid rise, funded by mega-profits churned out by parent Reliance Industries' core...

  • LONDON/ DUBLIN, July 21- Bank of America on Friday became the first Wall Street lender to pick Dublin as its new base for its European Union operations as Britain prepares to leave the bloc. Frankfurt and Dublin are emerging as early winners for banks' post-Brexit operations. Wall Street's Citigroup Inc. and Morgan Stanley have both picked Frankfurt as bases for...

  • An OPEC- led production cut and a rebound in demand have helped increase oil prices, which are presently hovering around $50 per barrel. Encana has also benefited from downsizing its operations to focus on four core North American assets: the Montney and Duvernay in western Canada, and the Eagle Ford and Permian in the United States. Calgary- based Encana posted...

  • *GE falls as quarterly profit slides nearly 60 pct. July 21- U.S. stock indexes opened lower on Friday, as industrial heavyweight General Electric's tepid results weighed on investor sentiment. Shares of GE fell as much as 5.4 percent to their lowest level since Oct 2015, despite the results beating estimates, as the company reported a nearly 60 percent slump in...

  • TOKYO, July 21- Japan's Supreme Court rejected an appeal by Japan's Universal Entertainment Corp to hear its defamation case against Reuters, upholding two lower court rulings that its case against the news agency lacked merit. In a short written ruling on Wednesday, the Supreme Court said that Universal did not have grounds for appeal. Universal had sued...

  • CALGARY, Alberta _ Encana Corp. on Friday reported second-quarter net income of $331 million, after reporting a loss in the same period a year earlier. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share. Encana shares have fallen 18 percent since the beginning of the year.

  • *Zimbabwe farm union leader urges sensible talks. HARARE, July 21- A Zimbabwean farmers' union leader warned white South African farmers they should agree a deal to share land with the black majority before they suffer the same fate as neighbours in Zimbabwe who were violently removed from their properties. Land redistribution is a burning political issue in...

  • LONDON, July 21- Gold was set for its biggest weekly gain in two months on Friday as a surging euro pushed the dollar to its weakest since June 2016, making bullion cheaper for holders of other currencies. Bond yields also fell after Mario Draghi said on Thursday the European Central Bank was in no rush to scale back its asset purchase programme.

  • TORONTO, July 21- Canada's main stock index slipped on Friday as weakness in oil prices weighed on energy shares, offsetting a gain in gold miners.

  • NEW YORK— The latest on developments in financial markets:. Declines in technology and industrial companies are leading stock prices lower in early trading on Wall Street. General Electric slumped 4.5 percent in early trading Friday after investors were disappointed in a drop in sales in its electricity and automation business.