Argentina, Creditors Fail to Reach Deal -- Update

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Nicole Hong, Taos Turner and Matt Day Talks aimed at a last-minute settlement between Argentina and holdout creditors collapsed late Wednesday, and a court-appointed mediator said the country would "imminently" be in default. The likely default would be Argentina's ...

Taiwan's Economy Grows 3.9% in 2Q, Well Above Forecasts

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Fanny Liu and Eva Dou TAIPEI--Taiwan's economy gathered pace in the second quarter, as electronics exports rose, companies stepped up investments and consumers continued to spend. In the three months ended June 30, Taiwan's gross domestic product rose 3.9% ...

Australian Export, Import Price Indexes Fall in 2Q

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By James Glynn SYDNEY--Australia's export price index fell sharply in the second quarter, its biggest quarterly fall since late 2010, due to weaker prices for iron and coal, the country's two biggest exports. The Australian Bureau of Statistics said Thursday ...

China PBOC to Drain $1.8 Billion This Week

TODAY: July 31, 2014 PUB DATE: July 31, 2014

SHANGHAI--China's central bank is set to drain a net 11 billion yuan ($1.8 billion) from the money market this week through its open-market operations, the first time it is withdrawing liquidity after net injections for 11 weeks in a row, ...

Oil Futures Slide; Nymex Drops Below $100/Bbl

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Eric Yep Crude-oil futures extended overnight losses in Asian trade Thursday on bearish U.S. inventory data that sent the U.S. oil benchmark below the $100 a barrel mark. On the New York Mercantile Exchange, light, sweet crude futures for ...

EU Energy Chief Expects Russia to Continue Delivering Gas to Europe

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Andrea Thomas BERLIN--European Energy Commissioner Guenther Oettinger said Thursday he is convinced Russia will continue to deliver gas to Europe despite recent economic sanctions imposed against Moscow, adding that the European Union is well prepared to deal with any ...

EU Energy Chief Expects Russia to Continue Delivering Gas

TODAY: July 31, 2014 PUB DATE: July 31, 2014

BERLIN--European Energy Commissioner Guenther Oettinger said Thursday he is convinced Russia will continue to deliver gas to Europe despite recent economic sanctions imposed against Moscow, adding that the European Union is well prepared to deal with any supply cuts. "The ...

Italy July Preliminary CPI Falls on Energy, Fresh Food Decline

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Liam Moloney ROME- Italy's consumer price index fell in July, statistics institute Istat said Thursday, as the price of fresh food and regulated-energy prices both declined. Annual inflation was 0.1%, Isat said in its preliminary report. Fresh vegetable prices ...

New Britain Palm Oil: Kulim Plans to Sell 49% Stake to Sime Darby

TODAY: July 31, 2014 PUB DATE: July 31, 2014

LONDON--New Britain Palm Oil Ltd. (NBPO.LN) said Thursday it has been advised by its major shareholder, Kulim (Malaysia) Berhad (2003.KU) of plan to sell its entire 48.97% shareholding in the company, and selected Sime Darby Berhad (4197.KU) as the preferred ...

Apple to Cut 200 Jobs at Beats Electronics -- Reports

TODAY: July 31, 2014 PUB DATE: July 31, 2014

Apple will cut about 200 jobs at Beats Electronics LLC after closing its acquisition of the music-streaming service and headphone maker, media reports said. The cuts amount to about 40% of Beats' global workforce, the New York Post reported late ...

French Producer Prices Stabilize in June

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By William Horobin PARIS--French producer prices stabilized in June after five straight months of month-on-month declines, statistics agency Insee said Thursday. France's producer price index was unchanged in June from May as the coking and refining prices rose and the ...

U.S. Jobless Claims Rise By 23K

TODAY: July 31, 2014 PUB DATE: July 31, 2014

WASHINGTON -- The number of U.S. workers claiming unemployment aid rose last week after sinking to a 14-year low earlier in the month. Initial claims for unemployment benefits increased by 23,000 to a seasonally adjusted 302,000 in the week ended ...

Canada GDP Growth Accelerates 0.4% in May

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Nirmala Menon OTTAWA--The Canadian economy grew at the fastest pace in four months in May, driven by gains in manufacturing, wholesale and retail trade, energy and construction. Gross domestic product, the total of goods and services produced in the ...

U.S. Employment Costs Rise 0.7% In 2Q

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Jonathan House and Alan Zibel WASHINGTON-Employers' labor costs rose at their fastest rate in nearly six years in the second quarter, a sign that falling unemployment could be boosting pay for workers. The employment-cost index, a broad measure of ...

Growth Rebound Stokes Fed Debate--3rd Update

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Jon Hilsenrath, Eric Morath and Nick Timiraos Federal Reserve officials delivered a modestly more upbeat assessment of the economy Wednesday amid a second-quarter growth rebound and deepening debate inside the central bank about when to start raising interest rates ...

House, Senate Scramble to End Impasse Over Highway Bill

TODAY: July 31, 2014 PUB DATE: July 31, 2014

WASHINGTON--House Republican leaders pushed ahead with their preferred plan on federal highway spending, setting up a Thursday vote designed to force the Senate to accept a $10.8 billion measure funding highway projects through May 2015. The House and Senate have ...

U.K. Consumers Less Upbeat About Prospects in July

TODAY: July 31, 2014 PUB DATE: July 31, 2014

U.K. consumers were less upbeat about their prospects in July, the first decline in consumer confidence in six months. The U.K. economy continued to grow at a rapid pace in the three months to June, while the rate of unemployment ...

Italy June Unemployment Rate Drops as Youth Rate at Record High

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Liam Moloney ROME--Italy's unemployment rate fell in June, to its lowest level in 10 months, due to job gains mainly among women, national statistics institute Istat reported Thursday, while the youth jobless rate reached its highest level in 33 ...

Swiss Competition Authority Ends Swatch Probe

TODAY: July 31, 2014 PUB DATE: July 31, 2014

By Neil Maclucas ZURICH--The Swiss competition authority has ended a probe into Swatch Group AG's (UHR.VX) pricing and delivery of movements and components for lack of evidence that it discriminated against rival watchmakers. The competition body, known as WEKO, Thursday ...

Swiss National Bank 1st Half Profit Rises

TODAY: July 31, 2014 PUB DATE: July 31, 2014

ZURICH--The Swiss National Bank's first-half interim profit was 16.1 billion Swiss francs ($17.7 billion) thanks to foreign-currency and gold prices. Foreign-currency positions contributed around 12.6 billion francs. There was a "valuation gain" of 3.5 billion francs on gold holdings which ...