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Oil falls as glut, profit-taking beat back optimism over OPEC meet

By Osamu Tsukimori TOKYO (Reuters) – Crude prices fell on Tuesday as continued worries over a global oil glut and profit-taking on gains of nearly 3 percent from the previous session beat down upwards momentum from a possible meeting of oil producers. Venezuelan Oil Minister Eulogio del Pino said on Monday that a meeting between OPEC and non-OPEC countries may take place “in the coming weeks” as the crisis-stricken South American nation sought support to prop up weak oil markets. Some OPEC officials have said a …

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Oil falls as glut, profit-taking beat back optimism over OPEC meet

LendingClub turmoil takes toll as company posts widening losses

LendingClub Corp on Monday reported its largest quarterly loss in a year as it struggles to bring banks back to its online lending platform following the departure of its chief executive …

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LendingClub turmoil takes toll as company posts widening losses

Exclusive: BP seeks buyers for China petchem JV stake in up to $3 billion deal – sources

By Arno Schuetze and Denny Thomas FRANKFURT/HONG KONG (Reuters) – British oil major BP is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2-$3 billion, people familiar with the matter told Reuters. BP has hired an investment bank to sell its shareholding in SECCO as part of a drive to cash out of businesses where it lacks control, the people added. A successful deal would mark BP's first significant exit …

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Exclusive: BP seeks buyers for China petchem JV stake in up to $3 billion deal – sources

China’s slowing wholesale deflation takes pressure off central bank

By Elias Glenn and Yawen Chen BEIJING (Reuters) – China's factory price deflation moderated further in July, with prices falling at their slowest pace in two years, taking pressure off the central bank to cut rates as policymakers turn their focus to structural reforms and ballooning credit. A government-led building spree has increased demand for construction materials, but higher prices are also due in part to speculation in China's commodities futures market, which has pushed up Shanghai rebar futures up by 50 percent this year. …

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China’s slowing wholesale deflation takes pressure off central bank

Asia shares up as yield hunt drives record flows, pound slips

Asian shares stood atop one-year peaks on Tuesday as a global search for yield drove a record inflow into emerging market funds, while the pound slipped to one-month lows on speculation of further policy easing in the UK. Analysts at Bank of America…

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Asia shares up as yield hunt drives record flows, pound slips

UK opens corruption probe into Airbus jet sales

Britain's Serious Fraud Office has launched a formal investigation into suspected fraud, bribery and corruption in connection with commercial plane sales by Airbus, parent company Airbus Group said on Sunday. A UK government agency this year suspended the issue of export credits to Airbus, citing discrepancies in declarations by the plane maker on the use of third-party intermediaries during jet sale negotiations. The agency, UK Export Finance, had said it was referring the discrepancies to the SFO, which would decide whether to launch a criminal investigation.

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UK opens corruption probe into Airbus jet sales

Monte dei Paschi woes add up to large fees for investment banks

By Pamela Barbaglia and Anjuli Davies LONDON (Reuters) – Italy's troubled lenders are offering lucrative opportunities for investment banks, with Monte dei Paschi di Siena set to pay some of the highest fees in Europe this year to arrange its high stakes rescue plan. The emergency …

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Monte dei Paschi woes add up to large fees for investment banks

U.S. challenge to Anthem-Cigna deal gets new judge

The judge overseeing the U.S. government's bid to stop health insurer Anthem Inc from buying Cigna Corp , who had been seen as favorable for the deal, has relinquished the case. Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia was named to hear the case after Judge John Bates asked that it be reassigned. Jackson was nominated to the bench in 2011 by President Barack Obama, a Democrat.

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U.S. challenge to Anthem-Cigna deal gets new judge

U.S. finds unapproved emissions software in VW Audi engines – Bild am Sonntag

U.S. authorities have found three unapproved software programs in 3.0 liter diesel engines made by Volkswagen's Audi unit, German weekly Bild am Sonntag reported, without saying where it had obtained the information. The software allowed the turbocharged direct injection (TDI) engines used in Audi's Q7, Porsche's Cayenne and VW's Touareg models to shut down emissions control…

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U.S. finds unapproved emissions software in VW Audi engines – Bild am Sonntag

China’s July forex reserves fall to $3.20 trillion

China's foreign exchange reserves fell to $3.20 trillion in July, central bank data showed on Sunday, in line with analyst expectations. China's reserves, the largest in the world, fell by $4.10 billion in July. The reserves rose $13.4 billion in June, rebounding from a 5-year low in May. China's

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China’s July forex reserves fall to $3.20 trillion

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