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  • WASHINGTON, Aug 28- U.S. consumer spending picked up a bit in July as households bought more automobiles, offering further evidence of strength in the economy that could keep the door open to a Federal Reserve interest rate hike this year. The Commerce Department said on Friday consumer spending increased 0.3 percent after an upwardly revised 0.3 percent rise...

  • TOKYO, Aug 28- Subaru maker Fuji Heavy Industries Ltd said on Friday that it will keep diverting car exports from Tianjin to Shanghai for now because its Tianjin operations have yet to return to normal after explosions in the Chinese port city this month. Tianjin is normally the Subaru car maker's biggest entry point in China, but Fuji Heavy diverted its Tianjin-...

  • *Delegates trim price outlooks amid oversupply, China concern. *Gulf delegates hope for price recovery to $60 by Dec. OPEC delegates, including those from core Gulf OPEC countries, see economic troubles in top energy consumer China as short term and unlikely to have much impact on demand for crude which will rise seasonally in the fourth quarter.

  • FOURTH OPEC DELEGATE SAYS OIL BETWEEN $50- $55' IS THE MAXIMUM OF WHAT I EXPECT IN REST OF 2015'.

  • TWO OPEC DELEGATES SAY LATEST PRICE FALL TO HELP REDUCE OVERSUPPLY BY END OF YEAR, LIFT PRICES SLIGHTLY.

  • THIRD GULF DELEGATE SAYS PRICES MAY DIP AGAIN TO SLIGHTLY BELOW $45 BEFORE RECOVERING TO AROUND $60 BY DEC.

  • TWO GULF OPEC DELEGATES SEES OIL AROUND $40- $50 UNTIL END OF YEAR, HOPE IT WILL REACH $60.

  • JACKSON HOLE, Wyo., Aug 28- Recent market turmoil should not delay the Federal Reserve from raising U.S. interest rates at least once, given that the selloff and a slowdown in China have so far had little effect on the U.S. economy, a top Fed official said on Friday. Louis Fed President James Bullard told Reuters that if the global financial market volatility continues...

  • LONDON, Aug 28- Front-month Brent crude futures surged more than 10 percent higher yesterday, one of the largest daily percentage movements on record, as traders raced to cover short positions. U.S. crude futures rose almost as much, with the October contract ending the day up by more than 9 percent. Since mid-June, hedge funds have accumulated one of the biggest...

  • Louis Fed President James Bullard told Bloomberg in an interview from Jackson Hole, Wyoming, where central bankers from around the world are converging for an annual meeting. But Loretta Mester, president of the Federal Reserve Bank of Cleveland, said the volatility has not changed her view that the U.S. economy was ready for a modest increase in interest rates.

  • WASHINGTON— U.S. consumers increased their spending moderately in July, as wages and salaries made their biggest jump in eight months. Spending rose 0.3 percent in July, helped by purchases of big-ticket items such as cars, the Commerce Department reported Friday. "All of the data are heading in the right direction," said Jennifer Lee, senior economist at BMO...

  • WASHINGTON, Aug 28- U.S. consumer spending picked up a bit in July as households bought more automobiles, offering further evidence of strength in the economy that could keep the door open to a Federal Reserve interest rate hike this year. The Commerce Department said on Friday consumer spending increased 0.3 percent after an upwardly revised 0.3 percent rise...

  • WASHINGTON— US consumer spending up moderate 0.3 percent in July, while incomes rise 0.4 percent.

  • SHANGHAI/ BEIJING, Aug 28- China's largest banks warned of a tough year after posting their weakest half-yearly profit growth in at least six years as a slowing economy forces the lenders to make even more provisions for soured loans and squeezes interest income. State-owned Industrial and Commercial Bank of China, China's largest bank by assets, and peers Bank...

  • MIAMI, Aug 28- Tropical Storm Erika lashed Puerto Rico and the Virgin Islands with heavy rain and fierce winds on Friday, moving across the Caribbean and apparently heading for the Dominican Republic, northern Haiti and eventually South Florida, the U.S. National Hurricane Center said. The greatest risk was heavy rainfall over northern Haiti and the Dominican...

  • SAO PAULO, Aug 28- Brazil's economy shrank 1.9 percent in the second quarter, sinking the country into a recession that has decimated the popularity of President Dilma Rousseff as she struggles to save the country's investment-grade credit rating amid a vast corruption scandal. The quarterly contraction, reported by government statistics agency IBGE on...

  • NEW YORK— Mylan NV's shareholders approved the company's hostile pursuit of Perrigo Co. and the generic drugmaker hopes to push ahead with a formal offer soon. Perrigo, which makes over-the-counter medicines, has resisted repeated overtures from Mylan. In April, Mylan raised its offer for Perrigo to $232.23, or about $34.1 billion, in cash and stock.

  • BERLIN, Aug 28- Germany posted a record-breaking 21 billion euro surplus in the first half of 2015 but has turned a deaf ear to criticism from home and abroad that it should cut taxes or raise public spending to help alleviate pressures in the euro zone. Her party is expected use Germany's return to budget surpluses as a cornerstone of its 2017 election campaign.

  • TORONTO _ Bank of Nova Scotia on Friday reported fiscal third-quarter net income of $1.44 billion. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share. Bank of Nova Scotia shares have declined 21 percent since the beginning of the year.

  • *First trip as executive director will be China in September. PARIS/ BRUSSELS, Aug 28- The new head of the International Energy Agency faces dilemmas that challenge the purpose of the body set up to protect the interests of the West against the power of OPEC in the 1970 s. And major energy consumers China and India are not even members, presenting a headache for the...