August 1, 2014 / 1:07 PM / 3 years ago

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TOP STORIES

US jobs growth cools, unemployment rate rises to 6.2 percent

WASHINGTON - U.S. jobs growth slows more than expected in July and an unexpected rise in the unemployment rate points to some slack in the labour market that could give the Federal Reserve room to keep interest rates low for a while. (USA-ECONOMY/ (WRAPUP 2), moved, by Lucia Mutikani, 540 words)

+ See also:

- USA-FED/FISHER-LIFTOFF (UPDATE 1), moved, 475 words

China, Asian factory growth gathers pace; Europe falters

BANGALORE/SYDNEY - Manufacturing activity in China and most of Asia gathered pace in July as firms responded to burgeoning new orders by raising output, hinting at a revival in global trade, although euro zone factories barely managed to chug along. (GLOBAL-ECONOMY/ (UPDATE 2), moved, by Sumanta Dey and Wayne Cole, 800 words)

+ See also:

- EUROZONE-ECONOMY/INFLATION-ECRI, moved, 160 words

- CHINA-ECONOMY/PMI (UPDATE 2), moved, 700 words

- PMI-MANUFACTURING/BRITAIN (UPDATE 1), moved, by Tess Little, 510 words

HSBC and BNP to finance Iliad’s T-Mobile bid - sources

PARIS - French telecoms group Iliad has lined up BNP Paribas and HSBC to finance its surprise bid for T-Mobile US, said people familiar with the situation, in a move that could have ripple effects in France. (TMOBILE-ILIAD/BANKS (UPDATE 2), moved, by Leila Abboud and Arno Schuetze, 960 words)

Russia to introduce consumer tax as economic woes grow

MOSCOW - President Vladimir Putin has decided to introduce a sales tax on Russian consumers, two sources acquainted with the issue says, raising the tax burden earlier than expected as Western sanctions deepen the country’s financial woes. (RUSSIA-ECONOMY/TAX (UPDATE 1), moved, by Darya Korsunskaya, 470 words)

+ See also:

- UKRAINE-CRISIS/POLAND-ECONOMY (UPDATE 2), moved, 500 words

INVESTMENT & INSIGHT

Bricks, not clicks: traditional retail chains fight back

LONDON - The tale of traditional stores bleeding profits in the face of pressure from online rivals has hit a slight twist, as the fruits of restructuring and a more pleasurable shopping experience boost well-known chains. (MARKETS-EUROPE-STOCKS/OLDECONOMY (GRAPHICS), expect by 1400 GMT/10 ET, by Sudip Kar-Gupta, 700 words)

Tesco’s new boss - the outsider on the inside track

LONDON - When Tesco needed a new chief executive to rebuild the world’s third biggest retailer it turned to “Drastic Dave” Lewis, a turnaround specialist who is probably as close to being an insider as an outsider can be. (TESCO-CEO/ (INSIGHT), expect by 1330 GMT/9.30 AM ET, 1,250 words)

For some US firms, influx of migrant children means business

NEW YORK - For a handful of U.S. companies that have exclusive or longstanding contracts with federal agencies dealing with illegal immigrants, the recent wave of children crossing the southern border with Mexico is a business opportunity. (USA-IMMIGRATION/CONTRACTS (INSIGHT, PICTURE), moved, by Mica Rosenberg, 1,010 words)

ECONOMY

Russia to introduce consumer tax as economic woes grow

MOSCOW - President Vladimir Putin has decided to introduce a sales tax on Russian consumers, two sources acquainted with the issue says, raising the tax burden earlier than expected as Western sanctions deepen the country’s financial woes. (RUSSIA-ECONOMY/TAX (UPDATE 1), moved, by Darya Korsunskaya, 470 words)

+ See also:

- UKRAINE-CRISIS/POLAND-ECONOMY (UPDATE 2), moved, 500 words

U.S. says India refusal on WTO deal a wrong signal

NEW DELHI/SYDNEY - U.S. Secretary of State John Kerry tells Prime Minister Narendra Modi India’s refusal to sign a global trade deal sends wrong signal and urges New Delhi to work to resolve the row as soon as possible. (INDIA-TRADE/WTO (UPDATE 2, PICTURE, TV), moved, by David Brunnstrom and Matt Siegel, 870 words)

+ See also:

- INDIA-TRADE/WTO-REASONS, moved, by Tom Miles, 730 words

Argentina holds no positive expectations for debt hearing

BUENOS AIRES - Argentina’s Cabinet chief Jorge Capitanich says the government holds no positive expectations for a court hearing in New York later in the day that will discuss the South American country’s debt default. (ARGENTINA-DEBT/ (UPDATE 1), moved, 275 words)

COMPANIES

Europe’s investment banks resilient in retreat

LONDON - Europe’s investment banks are giving Wall Street a run for its money despite shrinking their trading arms more aggressively than U.S. rivals. (BANKS-INVESTMENTBANKING/, moved, by Steve Slater, 600 words)

P&G profit up 37 pct on cost cuts, higher home care sales

Procter & Gamble Co, the world’s largest household products maker, reports a 37 percent rise in quarterly profit as its cost cutting efforts paid off and organic sales rose in its home care business. (PROCTER GAMBLE-RESULTS/ (UPDATE 1), moved, 255 words)

Britain’s RBS places restrictions on lending in Russia

LONDON - Part-nationalised British lender Royal Bank of Scotland says it has placed restrictions on its lending in Russia following developments in Ukraine and warns a vote for independence in Scotland would have a material impact on its business. (RBS-SCOTLAND/(UPDATE 3), moving shortly, by Matt Scuffham, 450 words)

+ See also:

- SOCIETE GENERALE-RESULTS/, moved, 300 words

ArcelorMittal warns on profit as ore price hits mining

BRUSSELS - ArcelorMittal SA, the world’s largest steelmaker, cut its forecast for earnings this year after lower than anticipated iron ore prices ate into the profit of its mining business, sending its shares down some 6 percent. (ARCELORMITTAL/ (UPDATE 2), moved, by Philip Blenkinsop, 655 words)

Scientific Games to buy rival Bally Tech for $3.27 bln

Scientific Games Corp, which makes slot machines for casinos, will buy larger rival Bally Technologies Inc for about $3.27 billion. (ALLYTECHNOLOGIES-OFFER/ (UPDATE 1), moving shortly, 300 words)

L‘Oreal sees improved second half thanks to U.S. rebound

PARIS - French cosmetics maker L‘Oreal says it expects business trends to improve in the second half, mainly thanks to a rebound in the United States. (LOREAL-OUTLOOK/ (UPDATE 1), moved, 455 words)

Airline group IAG profit rises on Iberia recovery

MADRID - British Airways owner International Airlines Group reports a 55 percent rise in second-quarter profit driven by a recovery at Spanish airline Iberia and signals its confidence in the carrier with plans to renew its long-haul fleet. (IAG-RESULTS/ (UPDATE 2), moved, 500 words)

Allianz to stick with old guard as CEO contract ends

FRANKFURT - Allianz is poised to reappoint Michael Diekmann as chief executive in October, possibly delaying tough strategy choices to determine whether Europe’s largest insurer becomes a global power or a cash cow. (ALLIANZ-CEO/, moved, by Jonathan Gould, 950 words)

+ See also:

- AXA-RESULTS/ (UPDATE 2), moved, by Leigh Thomas, 640 words

Areva stock plunges on nuclear sales warning, solar exit

PARIS - Shares of French nuclear group Areva fall as much as 23 percent as it posts a first-half loss, exits the solar business and cut sales targets in a struggling nuclear industry. (AREVA-RESULTS/ (UPDATE 2), moved, by Geert De Clercq, 750 words)

Fiat investors vote on Chrysler merger

TURIN, Italy - Fiat shareholders are expected to approve the Italian carmaker’s merger with its U.S. unit Chrysler, a union aimed at boosting the world’s seventh-largest auto group’s appeal with foreign investors and paving the way for a U.S. share listing. (FIAT-CHRYSLER/MERGER (UPDATE 1), moving shortly, by Agnieszka Flak, 555 words)

+ See also:

- AUTOS-USSALES/ (UPDATE 3), moved, 395 words

- AUDI-RESULTS/ (UPDATE 1), moved, 280 words

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