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Wires

  • NEW YORK, July 24- Motorists logged 2.2 percent more miles on U.S. roads and highways in May compared with the same month last year, according to government data released Monday, keeping 2017 mileage on track to break last year's record.

  • LONDON, July 24- HNA Group CEO Adam Tan has pushed back against media reports that the Chinese aviation-to-financial services conglomerate faces mounting pressure from its bankers and regulators, even as the pace of its acquisitions slows. The only bank that has stopped working with HNA is Bank of America Merrill Lynch, Tan said, adding the bank had not dealt...

  • NEW YORK, July 24- A federal jury in Chicago on Monday found AbbVie Inc fraudulently misrepresented the risks of its testosterone replacement drug AndroGel and ordered the drugmaker to pay $150 million in punitive damages. The verdict, which came in response to a lawsuit Jesse Mitchell and his wife filed in 2014, is the first in response to over 6,000 pending...

  • *J&J drags on S&P, Dow as key drug faces new rival. July 24- The S&P 500 and the Dow industrials edged lower on Monday, weighed down by losses in healthcare heavyweight Johnson& Johnson, while the Nasdaq hit a record high ahead of a big week of technology earnings reports. "The tech sector is the leading sector so far this year," said John Augustine, chief investment officer...

  • BRUSSELS, July 24- European Union authorities have increased pressure on Facebook, Google and Twitter to amend their user terms to bring them in line with EU law after proposals submitted by the tech giants were considered insufficient. The European Commission and consumer protection authorities in the bloc wrote to the three companies in June, asking them to...

  • PARIS, July 24- France is ready to negotiate a deal with Google over back taxes, budget minister Gerald Darmanin told financial daily Les Echos. A French court ruled this month that Google was not liable to pay 1.1 billion euros in back taxes demanded by French authorities. The paper said Darmanin confirmed that the government would appeal against that ruling but...

  • MEXICO CITY, July 24- Mexico's Coca-Cola Femsa, the world's largest Coke bottler, said on Monday it is poised to lose a key distribution contract in Brazil, sending its shares down 5 percent, even as it reported an 11.5 percent jump in quarterly net profit. Coke Femsa said Dutch brewer Heineken, which holds a stake in its parent company Femsa, had told the company it...

  • BERLIN/ FRANKFURT, July 24- Volkswagen will hold a special supervisory board meeting on Wednesday to discuss allegations that German carmakers operated a wide-ranging cartel, a source familiar with the matter said on Monday. The European Commission said on Saturday that antitrust regulators were investigating a possible German auto industry cartel...

  • Senator Chuck Schumer, the top Democrat in the U.S. Senate, accused Trump of running a populist election campaign and then abandoning working people for special interests once in the White House. "We can't delude anyone that this Congress will begin passing our priorities tomorrow but we have to start presenting our vision for the country's future," Schumer said...

  • "Today, rig count growth is showing signs of plateauing, and customers are tapping the brakes," said Dave Lesar, Executive Chairman. "This tapping of the brakes is happening all over the place in North America." Earlier this month, senior vice president for global business development and marketing at Halliburton, Mark Richard, told Reuters the U.S. shale drilling...

  • NEW YORK, July 24- John Shay, head of Nasdaq Inc's global fixed income and commodities, has left the exchange operator after less than 10 months on the job, according to a memo on Monday seen by Reuters. Thomas Wittman, head of global trading and market services at Nasdaq, will take over Shay's responsibilities, Wittman said in the memo to clients.

  • NEW YORK— A Virginia health official says a second person has tested positive for norovirus after eating at a Chipotle before it was temporarily closed last week following reports of illnesses. David Goodfriend, director of the Loudoun County Health Department, says two people now have tested positive for norovirus. Norovirus is a leading cause of illnesses...

  • DALLAS— Authorities say five people have been hurt in an ammonia leak at a Dallas bakery that supplies bread to restaurants and supermarkets. Dallas Fire-Rescue spokesman Jason Evans says emergency personnel Monday morning responded to a report of an ammonia leak at EPI Breads. Five people were transported to Dallas hospitals.

  • BOSTON— A Chinese national has been arraigned in federal court in Boston on charges he led a conspiracy to illegally smuggle $700,000 worth of goods made from banned rhinoceros horn, elephant ivory and coral. Guan Zong Chen was arrested last year while traveling from China to Australia, which extradited him to the U.S. on a 2015 indictment. The indictment alleges...

  • July 24- Alphabet Inc said it appointed chief executive of its Google unit, Sundar Pichai, to its board. The company's board also includes founders Larry Page and Sergey Brin. Alphabet is set to report second quarter earnings on Monday after markets close. 1/ 8 http://bit.ly/2tU9lwf 3/ 8.

  • WASHINGTON, July 24- Britain wants to ensure commercial ties with the United States are not disrupted as it moves out of the European Union, UK trade secretary, Liam Fox, said on Monday before the start of meetings with Trump administration officials in Washington. On Tuesday, as part of Britain's Brexit transition campaign, Fox is due to address U.S. lawmakers on...

  • LONDON, July 24- Britain's anti-fraud regulator said it has opened an investigation into how the miner Rio Tinto conducted business in the Republic of Guinea. "The Serious Fraud Office has opened an investigation into suspected corruption in the conduct of business in the Republic of Guinea by the Rio Tinto group, its employees and others associated with it," the...

  • July 24- The S&P 500 and the Dow Jones Industrial Average were pulled lower by losses in Johnson& Johnson in early afternoon trading on Monday, while the Nasdaq hit a record high ahead of Google parent Alphabet's earnings report. Johnson& Johnson's shares fell 1.6 pct after South Korea's Samsung Bioepis said it started U.S sales of the company's top-selling drug...

  • WASHINGTON— The Republican-led House is moving to allow the Department of Veterans Affairs to shift $2 billion from other programs to cover a sudden budget shortfall in its Choice program of private-sector care, a plan drawing stiff protests from veterans' groups. At its national convention in New Orleans Monday, the leader of Veterans of Foreign Wars took aim...

  • MEXICO CITY, July 24- Mexico's national oil company Pemex said on Monday that recent bond placements totaling about $5 billion would cover its minimum financing needs through the end of 2018.. Petroleos Mexicanos, as the company is formally known, said on Sunday it had successfully reopened two long-term bonds to raise about $5 billion, and would use some of the...