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  • DUBAI, Aug 2- Iran plans to buy as many as 90 planes per year from Boeing and Airbus to revamp its antiquated fleet once Western sanctions are lifted, its state news agency IRNA quoted a senior aviation official as saying on Sunday. "Iran will buy a total of 80-90 planes per year from the two aviation giants in the first phase of renovating its air fleet," said Mohammad...

  • LONDON, Aug 2- Now that U.S. The challenge is that the U.S. economy is generating very little inflation- not to mention disinflation coming from China and nearly no inflation in Europe- leaving many questioning whether the Fed even should be considering a rate rise. "The pace for growth remains extremely weak by past recovery standards, but with potential growth...

  • SHANGHAI, Aug 2- A decade ago Zhang Xiongjie was a teenage infantryman patrolling China's bleak border with North Korea. Now he stays in swanky hotels and drives a Mercedes Benz CLS- a remarkable rags-to-riches journey achieved in part by dominating one of the most obscure corners of China's unruly financial markets: egg futures. The story of how he earned so much...

  • BEIJING, Aug 2- Downward pressure on China's economy will persist in the second half of the year as growth in infrastructure spending and exports is unlikely to pick up, a senior central bank official was quoted as saying. Chinese companies are not optimistic about business prospects according to the central bank's second-quarter survey, Sheng Songcheng, the...

  • A woman uses the Uber app on a smartphone as a taxi cab drives by.

    Uber's battle with Bangalore-based Ola carries special significance, given the huge potential size of India's underdeveloped market. The FT reports.

  • DUBAI, Aug 2- Iran expects to raise oil output by 500,000 barrels per day as soon as sanctions are lifted and by a million bpd within months, Oil Minister Bijan Zanganeh said in remarks broadcast on Sunday. According to a Reuters suvey of OPEC production, Iran produced 2.85 million bpd in July. A Reuters analyst said in July that Iran could increase its oil production...

  • NEW YORK— Verizon and unions representing workers in nine states said employees will work without a contract as more negotiations are scheduled. Marc Reed, Verizon's chief administrative officer, said the company is "disappointed" it was unable to reach an agreement with the unions despite "six weeks of good faith bargaining and a very strong effort by the...

  • OTTAWA, Aug 2- Canadian Prime Minister Stephen Harper was set to call a parliamentary election for Oct 19 on Sunday, kicking off a marathon 11- week campaign likely to focus on a stubbornly sluggish economy and his decade in power. Harper's office said in a statement he is due to visit Governor General David Johnston- the representative of Queen Elizabeth,...

  • OTTAWA, Aug 2- Canadian Prime Minister Stephen Harper was set to call a parliamentary election for Oct 19 on Sunday, kicking off a marathon 11- week campaign likely to focus on a stubbornly sluggish economy and his decade in power. Harper's office said in a statement he is due to visit Governor General David Johnston- the representative of Queen Elizabeth,...

  • NEW YORK— President Barack Obama will impose even steeper cuts on greenhouse gas emissions from U.S. power plants than previously expected, senior administration officials said Sunday, in what the president called the most significant step the U.S. has ever taken to fight global warming. A year after proposing unprecedented carbon dioxide limits, the Obama...

  • LAS VEGAS— Subway's "sandwich artists" cranked out a record number of their lunchmeat masterpieces in Las Vegas on Saturday. Franchisees and employees from around the world set a Guinness World Record for the "most people making sandwiches simultaneously" when 1,481 people built subs at the same time during the brand's annual convention in Las Vegas.

  • DANA POINT, Calif.— Billionaire industrialist and conservative political donor Charles Koch welcomed a group of roughly 450 like-minded fundraisers to one of his twice-annual conferences Saturday by challenging them to advocate for ending "corporate cronyism"- even if those policies help their businesses. The Koch brothers and their network of donors, many...

  • Aug 1- Thousands of Verizon Communications Inc workers on the U.S. East Coast could strike on Sunday with no sign of an agreement as contract negotiations with unions went to the wire, a union spokeswoman said on Saturday. Verizon spokesman Rich Young said: "At this point, we remain committed to continuing to negotiate in good faith with our unions."

  • The Canadian researchers who created hitchBOT as a social experiment told The Associated Press that someone in Philadelphia damaged the robot beyond repair early Saturday, ending its first American tour after about two weeks. The kid-size robot set out to travel cross-country after successfully hitchhiking across Canada in 26 days last year and parts of...

  • Aug 1- Thousands of Verizon Communications Inc workers on the U.S. East Coast were poised to strike on Sunday after the company failed to reach agreement with unions as contract negotiations went to the wire, U.S. media reported on Saturday. The negotiations are continuing, Verizon spokesman Richard Young said on Saturday, according to Bloomberg.

  • AUSTIN, Texas— A grand jury has indicted Texas Attorney General Ken Paxton on felony securities fraud charges that accuse the Republican of misleading investors before he took over as the state's top law enforcement officer, a special prosecutor said Saturday. Kent Schaffer, a Houston defense attorney appointed by a judge to the case, told The New York Times...

  • COLUMBUS, Ohio— Ohio governor and Republican presidential hopeful John Kasich has publicly reported that he and his family are worth between $9 million and $22 million. The 63- year-old Kasich entered the race July 21 to become the 16th major GOP candidate this cycle. Before he was elected Ohio governor in 2010, Kasich spent 10 years at the now-defunct Wall...

  • *Egypt to offer new dollar-denominated bonds. CAIRO, Aug 1- Egypt has turned more than half of initial agreements signed at a March investor conference into investment projects, the planning minister said, as Cairo tries to regenerate an economy battered by years of turmoil. Egypt has signed exploration deals worth around $21 billion with global oil companies...

  • WASHINGTON, Aug 1- Vice President Joe Biden, inspired in part by his late son, has been holding meetings at his Washington home to discuss challenging Hillary Clinton for the Democratic presidential nomination, the New York Times reported on Saturday. Times columnist Maureen Dowd also said Biden, 72, has been "having meetings at his Washington residence to...

  • PHILADELPHIA— The manufacturer of the jet that crashed on takeoff in Massachusetts last year, killing the co-owner of The Philadelphia Inquirer and six other people, has reported a problem with a fail-safe system that can allow the planes to reach high speeds on the runway even if they are prevented from taking off. Gulfstream Aerospace Corp. said in a document...