Finance news

• Venezuela sees opportunity to tap international debt markets

  26-07-2016 23:59
  
  CARACAS, July 26 (Reuters) - Declining risk premiums on
  Venezuelan debt have opened the door for the South American
  nation to borrow on international capital markets, economy Vice
  President Miguel...
  
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• Brazil's Energisa prices offer at 18.5 reais, near ceiling

  26-07-2016 23:59
  
  SAO PAULO, July 26 (Reuters) - Energisa SA priced on Tuesday
  an offering of new stock near the upper end of a suggested
  range, signaling a stronger industry outlook will bolster plans
  by Brazil's No....
  
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• Apple sells more iPhones than expected, shares jump after hours

  26-07-2016 23:46 via news.yahoo.com
  
  Apple Inc sold more iPhones than Wall Street expected in the third quarter and forecast revenue in the current period would top many analysts' targets, soothing fears that demand for Apple's most important product had hit a wall. The world's most valuable publicly traded company said it sold 40.4 million iPhones in the third quarter, down 15 percent from the year-ago quarter but slightly more than the average analyst forecast of 40.02 million, according to research firm FactSet StreetAccount. IP
  
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• BRIEF-Fitch affirms Verizon's IDR at 'A-' Outlook stable

  26-07-2016 23:44
  
  * Fitch affirms Verizon's IDR at 'A-'; Outlook stableSource text for Eikon:Further company coverage:
  (Bengaluru Newsroom: +1-646-223-8780)
  
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• Third Point's 1st-half returns boosted by energy credit investments

  26-07-2016 23:39
  
  NEW YORK, July 26 (Reuters) - Dan Loeb's Third Point LLC in
  its second-quarter letter on Tuesday said the firm's investments
  in energy credits drove positive returns during the first half
  of the year.
  
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• Kansas budget pressures trigger S&P rating downgrade

  26-07-2016 23:37 via news.yahoo.com
  The rating agency, which put Kansas on review for a possible downgrade in April, also dropped the rating on appropriation-backed state debt to A-plus from AA-minus. "The downgrade reflects what we believe to be structural budget pressures, as reflected by draw downs in reserve levels to what we consider very low levels during a period of national economic expansion, despite four rounds of midyear adjustments in fiscal 2016," S&P credit analyst David Hitchcock said in a statement. Kansas budg
  
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• Twitter reports slowest quarterly revenue growth since IPO

  26-07-2016 23:29 via news.yahoo.com
  
  By Yasmeen Abutaleb and Rishika Sadam SAN FRANCISCO/BENGALURU (Reuters) - Twitter Inc reported its slowest growth in quarterly revenue since going public in 2013 and frustrated investors yet again with a disappointing outlook for the current quarter. The microblogging service operator's shares fell 10 percent in extended trading with investors concerned about its expansion and role in the social media landscape as it faces intense competition from fast-growing competitors like Snapchat and Insta
  
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• BRIEF-Bind Therapeutics determines Pfizer's $40 mln bid highest

  26-07-2016 23:29
  
  * Plans to disclose additional terms of its agreement with
  Pfizer upon court approval.
  
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• C$ gains after touching weakest in nearly four months

  26-07-2016 23:23 via news.yahoo.com
  
  "People are getting back more to a neutral stance as we approach the central bank meetings this week," said Darcy Browne, managing director for foreign exchange sales at CIBC Capital Markets. Canada's domestic economic calendar is light this week.
  
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• BRIEF-Alpha Natural Resources emerges from bankruptcy

  26-07-2016 23:05
  
  * Alpha Natural Resources successfully emerges from
  bankruptcy
  
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• Wall Street mixed as investors eye Apple earnings

  26-07-2016 22:21 via news.yahoo.com
  
  U.S. stocks were mixed on Tuesday as Federal Reserve policymakers kicked off a two-day interest rate meeting and investors braced for quarterly scorecards from Apple and Twitter. Choppy stock trading followed a recent rally to consecutive record highs on the S&P 500 that has stretched price-to-earnings multiples to levels that some investors say presumes that companies will beat second-quarter estimates. Five of the 10 major S&P sectors rose, while a 1.49 percent drop in the telecom serv
  
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• US STOCKS-Wall St mixed as investors eye Apple earnings

  26-07-2016 22:19 via news.yahoo.com
  U.S. stocks were mixed on Tuesday as Federal Reserve policymakers kicked off a two-day interest rate meeting and investors braced for quarterly scorecards from Apple and Twitter. Choppy stock trading followed ...
  
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• China's LeEco to buy U.S. TV maker Vizio for $2 billion

  26-07-2016 21:27
  
  (Reuters) - China's Le Holdings Co Ltd , also known as LeEco, said on Tuesday it would buy U.S. consumer electronics company Vizio Incfor $2 billion.
  
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• Yen jumps before Bank of Japan meeting, oil mixed

  26-07-2016 21:00 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - A buoyant yen and U.S. oil prices at three-month lows kept stock markets on the defensive on Tuesday as investors awaited central bank meetings this week that will unveil new stimulus in Japan and may provide clues on U.S. interest rates. The yen hit two-week highs against the euro and more than one-week highs against the dollar as traders dialed back expectations of how much new stimulus authorities will inject into Japan's ailing economy at the end of the w
  
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• Wall St. dips, earnings on deck from Apple and Twitter

  26-07-2016 20:47 via news.yahoo.com
  
  It was the second day of declines after a recent rally to consecutive record highs on the S&P 500 that has stretched price-to-earnings multiples to levels that some investors say presumes that companies will beat second-quarter estimates. Six of the 10 major S&P sectors declined, led by a 1.5 percent drop in the telecom services index . Verizon Communications shares fell 2 percent after the company's subscriber numbers fell below estimates.
  
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• FTC taking comment on divestiture linked to Air Liquide, Airgas merger

  26-07-2016 20:35
  
  WASHINGTON (Reuters) - The U.S. Federal Trade Commission said on Tuesday it is accepting public comments on an application for sale of assets it required for approving a merger of industrial gas...
  
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• Goldman Sachs abused trust in dealings with Libyan LIA, fund's lawyer tells trial

  26-07-2016 19:56 via news.yahoo.com
  
  By Claire Milhench LONDON (Reuters) - Goldman Sachs abused its position as a trusted adviser to Libya's sovereign wealth fund, a lawyer for the fund argued on Tuesday, in a case that has subjected the bank's dealings to a forensic degree of scrutiny. In a trial at London's High Court, the Libyan Investment Authority (LIA) is attempting to claw back $1.2 billion from the Wall Street giant in relation to nine disputed trades carried out in 2008, arguing that the trades were secured through "undue
  
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• Wall Street wavers ahead of Fed meet, Apple earnings

  26-07-2016 19:48 via news.yahoo.com
  
  U.S. stocks swung between small gains and losses on Tuesday afternoon as mixed earnings reports kept investors on the edge ahead of the Federal Reserve's two-day policy meeting and Apple's results. A set of strong economic data, including Tuesday's housing report, could strengthen the case for the Fed to raise rates earlier than the market anticipates. "Investors have had the opportunity to drink from a fire hydrant of information," said Eric Wiegand, senior portfolio manager at the Private Clie
  
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• Goldman is sued in U.S. over merger linked to Malaysia's 1MDB

  26-07-2016 19:13 via news.yahoo.com
  
  By Jonathan Stempel NEW YORK (Reuters) - Goldman Sachs Group Inc was sued on Tuesday by a major shareholder of a Malaysian bank it once advised, and which accused the Wall Street bank of fraudulently shortchanging it in a merger to curry favor with that country's prime minister. In a complaint filed with the New York State Supreme Court in Manhattan, Primus Pacific Partners said it was seeking $510 million of damages from Goldman and former Managing Director Tim Leissner, after the bank conceale
  
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• Verizon posts subscriber gain shortfall, says Yahoo to fuel media push

  26-07-2016 19:07 via news.yahoo.com
  
  Verizon Communications Inc disappointed Wall Street on Tuesday by reporting a smaller-than-expected subscriber gain for its main wireless business, while its CEO gave few details about plans to increase revenue from its planned purchase of Yahoo Inc's internet assets. Shares of the No. 1 U.S. wireless company, which had risen about 21 percent this year, fell 2 percent shortly after midday. Verizon is focused on combining the media and advertising technology assets of Yahoo and AOL, which it acqu
  
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• Brewer AB InBev seeks to nail SABMiller bid with sweetened offer

  26-07-2016 18:52
  
  BRUSSELS/LONDON (Reuters) - Anheuser-Busch InBevraised its $100 billion-plus bid for rival brewer SABMiller on Tuesday in an attempt to quash investor dissent over an offer made less attractive by...
  
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• Latin America facing 0.8% recession in 2016: UN panel

  26-07-2016 18:32 via news.yahoo.com
  
  Latin America is facing a larger-than-expected economic contraction of 0.8 percent this year, dragged down by sputtering heavyweights Brazil, Argentina and Venezuela, a UN panel said Tuesday. The region is taking a hit from greater international financial uncertainty -- caused notably by Britain's vote to leave the European Union -- and a continuing slide in prices for its commodity exports, said the Economic Commission for Latin America and the Caribbean (ECLAC). Latin America's economies had a
  
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• Global stocks jittery as Fed meets

  26-07-2016 18:27 via news.yahoo.com
  
  European stocks edged up Tuesday while Wall Street dipped slightly as investors eyed a two-day US Federal Reserve meeting for hints on possible interest rates hikes.
  
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• Indonesia president expected to announce cabinet reshuffle on Wednesday: sources

  26-07-2016 18:18 via news.yahoo.com
  
  By Kanupriya Kapoor and Cindy Silviana JAKARTA (Reuters) - Indonesian President Joko Widodo is expected to announce his second cabinet reshuffle in less than two years on Wednesday, two sources close to the matter said. Widodo met a number of his ministers late on Tuesday at the presidential palace in central Jakarta. The reshuffle comes nearly a year after Widodo replaced key members of his economics team in an effort to boost investor confidence over a flagging economy.
  
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• The identity crisis that led to Yahoo's demise

  26-07-2016 18:15
  
  SAN FRANCISCO (Reuters) - When senior Yahoo executives gathered at a San Jose hotel for a management retreat in the spring of 2006, there was no outward sign of a company in crisis.
  
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• GRAPHIC-European tech shares disconnect from earnings as M&A hopes build

  26-07-2016 18:04 via news.yahoo.com
  The STOXX Europe 600 Technology index has rallied nearly 20 percent from a trough hit after Britain's June 23 vote to leave the European Union rattled European markets. SoftBank's move last week to acquire Britain's most valuable tech firm ARM for $32 billion has spurred hopes of more deal making in the sector, lifting valuations even as expectations for earnings growth have remained depressed. The sector also stands to benefit from a more than 5 percent drop in the euro against the dollar since
  
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• Weak earnings weigh on Wall Street; Fed awaited

  26-07-2016 17:58 via news.yahoo.com
  
  U.S. stocks fell on Tuesday after weak results from a number of companies, including McDonald's and Gilead, dented investor sentiment. Investors are awaiting Apple's earnings later in the day and the outcome of the Federal Reserve's two-day meeting on interest rates that ends on Wednesday. The central bank is not expected to pull the trigger on interest rates in the near term as inflation remains below its 2 percent target and global growth continues to sputter.
  
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• Yen jumps before Bank of Japan meeting, oil slides

  26-07-2016 17:55 via news.yahoo.com
  
  By Herbert Lash LONDON (Reuters) - A buoyant yen and oil prices at their lowest in three months kept stock markets on the defensive on Tuesday as investors awaited central bank meetings this week that will unveil new stimulus in Japan and may provide clues on U.S. interest rates. The yen hit two-week highs against the euro and more than one-week highs against the dollar as traders dialed back expectations of how much new stimulus authorities will inject into Japan's ailing economy at the end of
  
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• Turkey ready to resume pipeline project with Russia

  26-07-2016 17:42 via news.yahoo.com
  
  MOSCOW (AP) — Turkey's economy minister says the country is ready to resume work on building a gas pipeline from Russia, a project that was suspended amid tensions between the two countries.
  
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• U.S. consumer confidence steady; new home sales near eight-and-a-half-year high

  26-07-2016 17:22 via news.yahoo.com
  
  U.S. consumer confidence held steady in July and new single-family home sales hit their highest level in nearly 8-1/2 years in June, suggesting sustained momentum in the economy. Other data on Tuesday showed moderate gains in house prices in May, which should support consumer spending and keep home purchasing affordable, especially for first-time buyers who have started venturing into the housing market. The Conference Board said its consumer index was 97.3 this month after a reading of 97.4 in
  
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• US new-home sales climbed in June to more than 8-year high

  26-07-2016 17:21 via news.yahoo.com
  
  WASHINGTON (AP) — Americans bought new homes in June at the fastest pace in more than eight years, a sign that a solid job market and low mortgage rates are bolstering the U.S. housing market.
  
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• Italy's Berlusconi primes potential political heir

  26-07-2016 17:21 via news.yahoo.com
  By Crispian Balmer ROME (Reuters) - Ex-Prime Minister Silvio Berlusconi has anointed Stefano Parisi, a former Internet executive and government economic adviser, as his political heir, giving him a mandate to relaunch Italy's splintered center-right. Looking to build on that experience, Parisi said last week he wanted to unite Italy's disparate conservatives and has now secured the blessing of Berlusconi, who asked him carry out a profound review of his own Forza Italy (Go Italy!) party. Berlusc
  
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• Caterpillar shares up on earnings beat; cuts 2016 outlook

  26-07-2016 17:06 via news.yahoo.com
  
  Caterpillar Inc reported better-than-expected second quarter earnings on Tuesday, lifting its shares, but the heavy machinery maker also lowered its full-year forecast amid sluggish demand in mining and other industries. Caterpillar said global uncertainty persists, and the recent vote in Britain to leave the European Union and the attempted coup in Turkey have heightened risks, especially in Europe. A weakened global economy, combined with persistent political uncertainty, kept sales of new mac
  
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• US consumer confidence steady in July

  26-07-2016 16:58 via news.yahoo.com
  
  US consumer sentiment held steady in July, helped by soaring stocks and undeterred by global worries over Britain's vote to leave the European Union, the Conference Board reported Tuesday. "Consumers were slightly more positive about current business and labor market conditions, suggesting the economy will continue to expand at a moderate pace," said Lynn Franco, director of indicators at The Conference Board.
  
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• Divided Fed meets on US interest rates

  26-07-2016 16:55 via news.yahoo.com
  
  The US Federal Reserve opened a two-day meeting on interest rates in Washington Tuesday as policy makers appeared divided over the dangers facing the world's largest economy. Observers said the Fed was almost certain to maintain rates at the current target 0.25-0.5 percent, which it set in December. After holding key interest rates at near zero for seven years to aid recovery from the Great Recession, the Federal Open Markets Committee in December announced the start of a series of rate hikes.
  
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• Oi seeks large debt cut, $1 bln cash from creditors, Globo says

  26-07-2016 16:46
  
  SAO PAULO, July 26 (Reuters) - Brazilian phone carrier Oi SA
  wants creditors to cut debt by almost two-thirds and
  inject $1 billion in fresh cash to exit bankruptcy protection, O
  Globo newspaper...
  
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• Macquarie hired for sale of insolvent German online travel group Unister

  26-07-2016 16:46
  
  FRANKFURT, July 26 (Reuters) - The administrator of
  insolvent German online travel group Unister has hired Macquarie
  to find a buyer for the company operating popular sites
  such as flight booking...
  
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• Survey: American consumers' confidence remains steady

  26-07-2016 16:40 via news.yahoo.com
  
  WASHINGTON (AP) — American consumers are feeling confident about current economic conditions but are a bit warier about the future.
  
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• MIDEAST STOCKS-Gulf markets slip as Saudi hit by poor Q2 earnings

  26-07-2016 16:28 via news.yahoo.com
  * Saudi's Mobily, al-Khodari tumble on Q2 results * Positive Q2 surprise fails to lift Tasnee * Insurance sector bucks trend on bullish earnings * Dubai's Aramex surges 5.5 percent * Small stocks boost Kuwait index, blue chips move little By Celine Aswad DUBAI, July 26 (Reuters) - Gulf stock markets mostly fell on Tuesday as soft oil prices dampened buying, while Saudi Arabia's index fell 0.7 percent on disappointing quarterly corporate results. Etihad Etisalat (Mobily) slumped 4.2 percent after
  
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• Global stocks steady before US rate talks

  26-07-2016 16:21 via news.yahoo.com
  
  European stocks tentatively rose and Wall Street was little-changed Tuesday as investors adopted a wait-and-see approach on the eve of a US interest rate decision and oil prices weakened. London increased 0.3 percent as dealers also awaited Wednesday's British economic growth data and a Bank of England interest rate call next week. "The market is in a waiting mode ahead of the Fed," said Xavier de Villepion, equity salesman at HPC in Paris.
  
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• Special Report: In Venezuela's murky oil industry, the deal that went too far

  26-07-2016 16:13 via news.yahoo.com
  By Alexandra Ulmer and Girish Gupta CARACAS/BOGOTA (Reuters) - Even for Venezuela's notoriously opaque economy, it was a sweetheart deal that went too far. Last August, state oil company Petroleos de Venezuela SA issued one of its largest tenders in recent years: a multi-billion dollar project in the Orinoco Belt, the world's largest crude reserve. Then, out of the blue, a tiny Colombian trucking and trading firm with no relevant experience beat global industry leaders to win the contract, worth
  
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• Wall Street little changed as investors assess earnings

  26-07-2016 16:06 via news.yahoo.com
  
  The Federal Open Market Committee (FOMC) begins a two-day meeting later in the day to decide whether the U.S. economy is strong enough to absorb an interest rate hike. The central bank, which will announce its decision at 2:00 p.m. ET on Wednesday, is not expected to pull the trigger on interest rates in the near term as inflation remains below its 2 percent target and global growth continues to sputter. Investors are also awaiting earnings from key companies such as Apple and Twitter , which ar
  
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• Wall St little changed as investors assess earnings

  26-07-2016 16:04 via news.yahoo.com
  
  Wall Street was little changed on Tuesday morning as investors assessed a host of corporate earnings reports and braced for the Federal Reserve's policy meeting. The Federal Open Market Committee (FOMC) begins a two-day meeting later in the day to decide whether the U.S. economy is strong enough to absorb an interest rate hike. The central bank, which will announce its decision at 2:00 p.m. ET on Wednesday, is not expected to pull the trigger on interest rates in the near term as inflation remai
  
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• Russia, Turkey reach 'political decision' on TurkStream, nuclear power plant: agencies

  26-07-2016 15:55 via news.yahoo.com
  MOSCOW (Reuters) - A political decision has been taken to continue work on the TurkStream natural gas pipeline project and the Akkuyu nuclear power plant in Turkey, Russian news agencies cited Turkish Economy Minister Nihat Zeybekci as saying on Tuesday. A meeting between Russian President Vladimir Putin and his Turkish counterpart Tayyip Erdogan, due to take place in St. Petersburg on Aug. 9, is set "to give the final impetus" to TurkStream, Zeybekci said during a visit to Moscow. (Reporting by
  
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• Swiss to pass information on HSBC accounts to U.S. tax agency

  26-07-2016 15:48 via news.yahoo.com
  
  Switzerland said it plans to give information to U.S. tax authorities about accounts at HSBC Holdings Plc's Swiss private bank, as part of a U.S. investigation into tax evasion. HSBC's Swiss unit has already paid tens of millions of dollars in fines after admitting substandard compliance on tax evasion and other issues. The Swiss government said it made the announcement about its plans on Tuesday to alert HSBC account holders whom it has been unable to locate, and to give them the chance to lodg
  
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• C$ touches lowest in nearly four months as oil falls

  26-07-2016 15:10 via news.yahoo.com
  
  The Canadian dollar weakened against the greenback on Tuesday for the sixth session in a row, touching its lowest level in nearly four months as oil prices declined. * The domestic economic calendar was light, but investors were looking ahead to data at the end of the week that is expected to show Canadian economic growth pulled back in May, likely due to the disruption caused by wildfires in Alberta. * The loonie has lost more than 2 percent in July so far, hurt as the price of oil have fallen
  
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• BRIEF-Mine Restoration says still trying to re-establish itself as a going concern

  26-07-2016 15:01
  
  * Opportunities pursued to date have not reached fruitionSource text for Eikon:Further company coverage:
  
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• ANC woes pile up in South Africa mine massacre town ahead of poll

  26-07-2016 14:54 via news.yahoo.com
  
  By Ed Stoddard MARIKANA, South Africa (Reuters) - In the shantytowns around Lonmin's Marikana platinum mine, where 34 striking miners were shot dead by police in 2012, residents say the ruling party has failed to keep a promise for basic services and could lose in next week's local polls. The vote will be a stern test for President Jacob Zuma's African National Congress who is facing a strong challenge from the opposition and an economy forecast to stagnate this year. Any defeats in the big popu
  
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• Caterpillar 2Q results top Street, cuts 2016 profit outlook

  26-07-2016 14:35 via news.yahoo.com
  
  PEORIA, Ill. (AP) — Caterpillar's second-quarter performance beat Wall Street's expectations, despite weakness in the mining and oil and gas industries. But the company lowered its full-year adjusted profit guidance again, saying global economic growth remains subdued and isn't sufficient to drive improvement in most of the industries and markets it serves.
  
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• Caterpillar posts lower second-quarter earnings, lowers 2016 outlook

  26-07-2016 14:20 via news.yahoo.com
  
  (Reuters) - Caterpillar Inc on Tuesday reported a lower quarterly net profit and lowered its full-year sales forecast as a weakened global economy combined with persistent political uncertainty to keep sales of new machinery sluggish.
  
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