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Wires

  • CARACAS, Aug 9- Venezuela's economy will contract between 7 and 10 percent this year, said the country's main business chamber Fedecamaras, on Wednesday at the Reuters Latin American Investment Summit in Caracas.

  • TORONTO, Aug 9- With a plump $3.1 billion pile of cash, Newmont Mining Corp is mulling a sweeter dividend to attract a broader shareholder base, a move that makes it an outlier in the still recovering gold sector. The two miners are also wrestling for top valuation, with Newmont's market capitalization of $19.3 billion just behind Barrick's $19.4 billion.

  • TOKYO, Aug 10- Nippon Steel& Sumitomo Metal Corp, Japan's biggest steelmaker, expects China's steel prices to remain elevated throughout the year as Beijing's infrastructure spending boosts local construction demand, a senior company official said. "Beijing's economic stimulus has been bolstering the Chinese economy and domestic consumption will likely...

  • CHICAGO, Aug 9- Low inflation will not stop the Federal Reserve from beginning to shrink its $4.5 trillion balance sheet next month, but will likely force it to delay further interest-rate hikes until December or even beyond, a U.S. central banker said on Wednesday. "I personally think that it would be quite reasonable to in September on the basis of the data that Ive...

  • MEXICO CITY, Aug 9- Major drugmakers including GlaxoSmithKline Plc, Pfizer Inc and Sanofi SA use legal ways to stifle competition in Mexico from generics that are readily available elsewhere, a senior Mexican antitrust official said on Wednesday. According to a document seen by Reuters, Cofece also identified other pharmaceutical companies, including...

  • NEW YORK, Aug 9- Momentum for domestic U.S. stock funds waned during the latest week, with investors pulling cash from those products for a sixth week out of the last seven, Investment Company Institute data showed on Wednesday. The funds posted $3.9 billion in withdrawals during the week ended Aug. 2, the trade group said, even as U.S. stocks steamed higher.

  • *Security push began in May. *Shi'ite gunmen hid in Awamiya old town, officials say. AWAMIYA, Saudi Arabia, Aug 9- A security campaign against Shi'ite Muslim gunmen in the eastern part of Saudi Arabia has reduced dozens of buildings in the town of Awamiya to husks and seen thousands of residents flee.

  • WASHINGTON, Aug 9- U.S. productivity grew more than expected in the second quarter as hours worked rose at their fastest pace in 1-1/ 2 years, leading to a modest increase in labor costs that could keep inflation muted in the near term. "The economy is aging and the growth rate for this eight-year expansion may have maxed out unless all the king's horses and all the...

  • CARACAS, Aug 9- Inflation in Venezuela's crisis-hit economy quickened to 248.6 percent in the first seven months of the year, the opposition-led congress said on Wednesday in the absence of official data. Economic hardship in Venezuela, where there are severe food shortages, is fueling unrest that has led to over 120 deaths in the last four months.

  • ATHENS, Aug 9- Greek oil producer Energean has exceeded its target for gas sales agreements needed before it goes ahead with plans to tap two gas fields off Israel's coast, market sources said on Wednesday. Energean bought the Karish and Tanin fields, located in deep waters around 100 kilometers off Israel's coast, last August for $148 million from U.S.-Israeli...

  • BUENOS AIRES, Aug 9- Argentina's flagship carrier Aerolineas Argentinas is no longer selling tickets to fly to Venezuela, a spokeswoman said on Wednesday, as violence and political uncertainty increases in Caracas.

  • *Headquarters will be in U.S., international base in UK. Shares in Worldpay, Britain's biggest payment provider, closed 1.28 percent higher at 388.5 pence after Wednesday's announcement of the deal, which marks the second biggest takeover of a British company this year after China Investment Corporation's $13.8 billion purchase in June of London- based...

  • NEW YORK, Aug 9- U.S. President Donald Trump's warning to North Korea and Pyongyang's threat of possible armed retaliation drove investors out of stocks and other risky assets on Wednesday and into textbook safe havens like gold and Treasuries. Trump's remarks on Tuesday that North Korea would face "fire and fury like the world has never seen" weighed on Wall...

  • LONDON, Aug 9- European shares fell back on Wednesday as geopolitical tensions sent all major benchmarks into negative territory, accompanied by a slight uptick in volatility in what is typically a quiet period of summer trading for the market. Risky assets were hit globally after North Korea said it was considering plans to attack Guam, which has a large U.S....

  • Aug 9- Wall Street is set to pay its fixed income traders smaller bonuses this year than initially expected, according to a report by a consulting firm. Employees in the U.S. fixed income industry are expected to receive up to a 5 percent bump in bonuses this year, compensation consulting firm Johnson Associates said in its report on Wednesday.

  • LONDON, Aug 9- Sterling slipped back below $1.30 in quiet trade on Wednesday, nearing a 2-1/ 2- week low, as investors looked to key data due next week for clues on the health of the British economy as the country prepares to leave the European Union. The pound had been supported in recent weeks by the view that the Bank of England would soon hike interest rates, perhaps...

  • WASHINGTON, Aug 9- Modern Markets Initiative, a trade group representing several prominent high-frequency trading firms, announced the appointment on Wednesday of Kirsten Wegner as its new chief executive officer. She joined MMI in May 2016 as a senior vice president of business development and will succeed Bill Harts, who will remain with MMI as a senior...

  • CHICAGO, Aug 9- Payless ShoeSource is set to emerge from bankruptcy as soon as Wednesday, one of the largest retail chains to do so, and is banking on a strategy focused primarily on bricks-and-mortar sales at a time when e-commerce is casting an ever-growing footprint on retail sales. With a cleaned-up balance sheet, Payless is seeking to position itself to...

  • SAO PAULO, Aug 9- Latin American stocks and currencies fell on Wednesday as investors fled for safe-haven assets amid brewing geopolitical tensions between the United States and North Korea. President Donald Trump said that any threat to the United States would be met with "fire and fury." The move came ahead of a pivotal week for the Mexican currency as...

  • *North Korea tensions rattle equity markets. LONDON, Aug 9- Britain's top share index was shaken from its summer lull on Wednesday as geopolitical tensions hit equity markets globally, sending investors into safe-havens such as gold mining stocks, while an earnings update weighed on shares in G4S. Shares in precious metals miners Fresnillo and Randgold...