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  • Aug 3- Alpha Natural Resources Inc, one of the largest U.S. coal companies, became the latest in the hard-hit industry to seek bankruptcy on Monday. Walter Energy Inc and Patriot Coal Corp also filed for bankruptcy protection this year. Energy Future Holdings Corp, a power company that also has a large coal mining business, has been in bankruptcy since 2014..

  • ATHENS, Aug 3- Greece's stock market closed with heavy losses on Monday after a five-week shutdown brought on by fears that the country was about to be dumped from the euro zone. "The market tanked, as expected," said Takis Zamanis, chief trader at Athens- based Beta Securities. All five shares comprising the index- National Bank of Greece, Alpha Bank, Piraeus Bank, Attica...

  • LONDON, Aug 3- Britain started to return its holding in Royal Bank of Scotland to private investors on Monday, seven years after it bailed out the bank, selling a stake worth 2 billion pounds at a loss. Britain owns 78 percent of RBS after rescuing it with 45.8 billion pounds of taxpayer cash at the height of the financial crisis in 2008. Its stake will reduce to 73.2...

  • Aug 3- Top executives at big U.S. banks received fatter paychecks last year as profits rose, brokerage Keefe, Bruyette& Woods said on Monday. Total compensation for all top U.S. banks rose in 2014 with the exception of Citigroup Inc, KBW analysts wrote in a note. Average pay increase was the most at Morgan Stanley, while Goldman Sachs Group Inc paid the most to its top...

  • LONDON— Britain's Treasury chief has authorized the sale of its stake in taxpayer-owned Royal Bank of Scotland— the first step in recovering money from Britain's costliest-ever bank rescue. The Treasury department said in a statement Monday that UK Financial Investments, which manages the government's stakes in banks bailed out during the 2008 financial...

  • NEW YORK, Aug 3- Oil futures prices hit a six-month low on Monday, weighed by oversupply and weaker demand expectations, while stocks in Asia and on Wall Street were under pressure as factory data from China and the United States disappointed. The Netherlands, Spain and Italy all reported healthy growth, and Italy's expansion was its best in more than four years.

  • *Oversupply worries, weak US, China data hurt market. NEW YORK, Aug 3- Oil sank to six-months lows on Monday as sluggish data out of the U.S. and China, and bets for weaker gasoline consumption after tearaway demand earlier in the summer, deepened losses in benchmark crude contracts. Evidence of growing global oversupply and a stock market collapse in China, the...

  • BAGHDAD, Aug 3- Iraq's Kurdistan Regional Government said on Monday it would pay a portion of its revenue from direct crude oil sales to producers, in an apparent attempt to reassure foreign oil companies operating in the northern region. The move sets up semi-autonomous Kurdistan to continue independent oil sales, which it has increased since mid-June while...

  • LONDON, Aug 3- Britain said it has started the sale of its stake in Royal Bank of Scotland seven years after it bailed out the bank, taking a loss on the sale of 2 billion pounds of shares to institutional investors. UK Financial Investments, the body that holds the government's RBS shares, said on Monday it would sell about 600 million shares, representing 5.2 percent...

  • 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...