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Greece wants full bailout, not bridge loan, ruling party says

The parliamentary spokesman for Greece’s ruling Syriza party urged it on Wednesday to unite behind a new funding agreement, saying the country wanted a full bailout immediately rather than a bridge loan.

Nikos Filis said Greece was seeking a full agreement so that it could receive a first payment of …

Greece

French bank Societe Generale to cut costs despite rising profits

Paris (AFP) - French bank Societe Generale unveiled Wednesday a new cost cutting plan of 850 million euros ($925 million) to compensate for higher regulatory costs, despite a jump in profits.

Net profit at the bank jumped by 25 percent for the April through June period from the same quarter last …

Banking

Relief for Nestlé as Indian panel declares Maggi noodles safe

Announcement defuses scare over allegations of excess lead in one of the sub-continent’s favorite fast food snacks.

This article is published in partnership with Time.com. The original version can be found here.

By @saniafarooqui

After a bruising summer that saw Nestlé SA’s NSRGY Indian unit pull its …

India

Dollar up on Fed rate bets, earnings lift shares

LONDON (Reuters) - The dollar rose to its highest in more than three months and U.S. Treasury yields rebounded from two-month lows on Wednesday, after a Federal Reserve official said the central bank was close to raising interest rates.

The comments on Tuesday from Atlanta Federal Reserve President …

Federal Reserve

Netflix offers employees unlimited parental leave

Online film and TV streaming service Netflix will now let parents take as much maternity and paternity leave as they want for up to a year

Mums and dads working for Netflix in the USA will now get “unlimited” parental leave for the first year of their child’s life, the company has announced.

In a …

Netflix

Standard Chartered Profit Fell 37% in First Half

LONDON — The British bank Standard Chartered said on Wednesday that its profit declined 37 percent in the first half of the year, as the lender reshapes its business under the leadership of William T. Winters, its new chief executive.

The bank, which generates most of its earnings in Asia, said that …

England

Egypt to unveil Suez Canal extension in hope of a new era

CAIRO (AP) — Egypt is to unveil a major extension of the Suez Canal on Thursday, a mega-project that has emerged as a cornerstone of President Abdel-Fattah el-Sissi's efforts to restore national pride and revive the economy after years of unrest.

The 1869 inauguration of the canal linking the Red …

Egypt

Apple Breaks Its 200-Day Moving Average

Donald Trump: I’ve Always Done Well With Low Interest Rates

Lowe's renovates retail strategy with new Manhattan stores

Retailer tries smaller layouts for newest urban locations.

Lowe’s Home Improvement is entering the competitive Manhattan retail market for the first time this summer with the opening of two new stores, a move that hints at how the chain is remodeling its broader retail strategy to capture growing …

New York City

Time Warner beats Street 2Q forecasts

NEW YORK (AP) — Time Warner Inc. (TWX) on Wednesday reported second-quarter earnings of $971 million.

The New York-based company said it had net income of $1.16 per share. Earnings, adjusted for non-recurring costs, were $1.25 per share.

The results surpassed Wall Street expectations. The average …

Time Warner

Kellogg to Cut Artificial Ingredients in Cereals

Its cereals and snack bars will no longer have artificial colors and flavors by the end of 2018

Kellogg, the largest breakfast cereal maker in the world, said Tuesday that it will no longer use artificial flavors and colors in its cereals and snack bars by the end of 2018.

The 109-year-old company …

Cereals

Tesla bucks industry in seeking tougher emissions rules

Tesla Motors Inc. is pushing for tougher auto-emission regulations even as major carmakers are launching initiatives to water down state and federal mandates to increase fuel economy and the number of zero emission vehicles on U.S. roads.

At an industry conference in Michigan, representatives of the …

Environmental Movement

Lumber Liquidators reports 2Q loss

TOANO, Va. (AP) — Lumber Liquidators Holdings Inc. (LL) on Wednesday reported a second-quarter loss of $20.3 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Toano, Virginia-based company said it had a loss of 75 cents.

The results did not meet Wall …

Lufthansa CEO says resolution of pilot talks unlikely before Sept

FRANKFURT (Reuters) - The chief executive of German airline Lufthansa <LHAG.DE> welcomed proposals by pilots to bring a long-running row over pay, retirement benefits and low cost expansion to an end but said talks would likely go on beyond the start of September.

The pilots have held a series of …

Lufthansa

Ahead of the Bell: US trade deficit likely widened in June

WASHINGTON (AP) — The Commerce Department reports on the international trade gap for June at 8:30 a.m. Eastern Wednesday.

TRADE GAP: Economists predict the deficit widened by just $1 billion to $42.9 billion in June from the previous month, according to a survey by data firm FactSet.

STRONG DOLLAR, …

Trade Deficits

Stocks: 5 things to know before the open

London (CNN) — Markets are eerily calm right now as traders await a tsunami of corporate earnings.

Don't get complacent!

Here are the five things you need to know before the opening bell rings in New York:

1. Earnings: The owner of T.G.I. Friday's and Jamba Juice, Inventure Foods, is reporting ahead …

Stocks

EU's Juncker expects Greek debt accord this month

Brussels (AFP) - European Commission head Jean-Claude Juncker believes an agreement on a third bailout for Greece in return for more tough reforms is likely this month and preferably by August 20 when Athens must make a key debt repayment.

"All the reports I am getting suggest an accord this month, …

Europe

Companies exploit live-streaming apps Periscope, Meerkat

NEW YORK (AP) — Companies have learned to use Facebook, Instagram and other social media to drum up business and now they're finding ways to exploit two new apps, Periscope and Meerkat.

The apps allow users to stream live video using just a smartphone. Fast-food company Wendy's used streaming for …

Periscope

Amazon Beats Netflix For Its Most Important Content Deal Ever

One of the most anticipated programs in history with a built-in audience is coming toAmazon.com which won the show in direct competition with Netflix.

The move continues a quick evolution of the retailer's video service from a repository of old programs to a source of dynamic originals. Beating the …

Amazon

Global stocks mostly higher as investors await US data

SEOUL, South Korea (AP) — Global stock markets were mostly higher Wednesday as investors waited for U.S. jobs data to assess when the Federal Reserve will increase interest rates that have been at a record low.

KEEPING SCORE: Britain's FTSE 100 added 0.3 percent to 6,708.01. France's CAC 40 rose 0.9 …

Stocks

Russian energy and the Kremlin discount, charted

Yeah…

Those charts are from Goldman who add:

The main conclusion from our trip that was broadly shared by participants is that the fundamentals of the …

Kremlin

Two Greek bank stocks bump into 30% daily loss limit

Greek banks suffered steep losses for the third say in a row on Wednesday, with two – Alpha Bank and Piraeus Bank – effectively down to the 30 per cent loss level at which trading in them is halted.

The overall banking sector index was down 23.6 per cent, adding to near 30 per cent falls on Monday …

Greece

Tesla Executive Pushes Back At Critics Characterizing It As Elitist: Report

An executive from Tesla Motors took issue with rivals trying to pigeonhole it as a purveyor of expensive cars, according to a report in Automotive News.

“There are competitors out there who are trying to characterize us as what we are right now…They also did that in 2008 when all we had was the even …

Tesla

Ryanair had a record July

Did you wonder why your flight last month was so packed? Ryanair 's July passenger traffic zoomed up 11%, to break the 10 million barrier.

The Irish no-frills airline claims to be the first ever to carry more than 10 million passengers in a month.

Kenny Jacobs, Ryanair's chief marketing officer, …

Ryanair

IMF to visit Ukraine in Sept. to discuss third loan tranche: central banker

KIEV (Reuters) - Ukraine's central bank expects an International Monetary Fund mission to visit Kiev in September to discuss a third loan tranche to Ukraine, Oleksander Pisaruk, a deputy head of the bank, said on Wednesday.

"I believe they're coming in September, they said the second half (of the …

Ukraine

Société Générale’s Profit Rose 25% in Second Quarter

LONDON — Société Générale said on Wednesday that its profit rose 25 percent in the second quarter, bolstered by gains in its equity trading business as markets remained volatile in the quarter and by robust activity in its mergers and acquisitions advisory business.

Société Générale, one of France’s …

Banking

Asian stock markets mostly higher as investors await US data for clues about Fed hike

SEOUL, South Korea – Asian stock markets were mostly higher Wednesday as investors waited for U.S. jobs data to assess when the Federal Reserve will increase interest rates that have been at a record low.

KEEPING SCORE: Japan's Nikkei 225 rose 0.6 percent to 20,649.56 and South Korea's Kospi added …

Stock Markets

Gold won’t have been tested until the crap really hits the fan

Gold hasn’t fulfilled its role as a safe haven during the latest crises, but we haven’t had a real crisis yet, says Matthew Lynn.

Nothing too awful has happened yet in Greece, China, Ukraine

The euro is about to fall apart. The Chinese stock market is crashing, taking the economy down with it. The …

Asia

Greek bank shares plunge for third day, stock market down 1.3 percent

ATHENS (Reuters) - Greek bank shares sold off sharply pressure for the third day in a row on Wednesday with the bank sector share index <.FTATBNK> losing 14.8 percent in early deals.

The broader market <.ATG> reversed small opening gains to trade lower, dragged down by the banks which comprise about …

Stock Markets

Greece wants full bailout, not bridge loan, ruling party says

ATHENS (Reuters) - The parliamentary spokesman for Greece's ruling Syriza party urged it on Wednesday to unite behind a new funding agreement, saying the country wanted a full bailout immediately rather than a bridge loan.

Nikos Filis said Greece was seeking a full agreement so that it could receive …

Greece

Africa’s millionaires are in Nigeria, Egypt, South Africa with some in Kenya too

It’s beginning to sound like a broken record, but the Africa rising mantra increasingly rings true.

While there may be debate about the nature of the economic development and whether it’s structurally transformational, what is clear, however, is that there is new wealth being created across the …

Africa

Asian stocks mostly higher as investors await US data

SEOUL, South Korea (AP) — Asian stock markets were mostly higher Wednesday as investors waited for U.S. jobs data to assess when the Federal Reserve will increase interest rates that have been at a record low.

KEEPING SCORE: Japan's Nikkei 225 rose 0.6 percent to 20,649.56 and South Korea's Kospi …

Stocks

Gold futures look to get off the mat

Gold futures are marginally higher in early trade Tuesday after being down four the past five trading sessions amid a tough period for commodities.

Gold eyes bear market

Gold prices are marginally higher in early trade Tuesday after being down four the past five trading sessions amid a tough period …

Federal Reserve

Looking to Asia, Quickflix to acquire Chinese film and television company

When struggling Australian streaming and DVD lending company Quickflix announced a trading halt last week, there were rumours it was about to be bought by a much larger company.

Instead of being snapped up by one of its more well-funded video on-demand competitors, Stan, Presto, Foxtel Play, or even …

Asia

Oil bulls' hope for quick price dip dimmed by 2020 crude under $70

HOUSTON (Reuters) - As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year - a speculative slide below $50 a barrel followed by a quick recovery.

Some are now reconsidering that view, …

Prices

Raising interest rates with zero inflation is a hard sell

LONDON (Reuters) - Americans and Britons bracing for their first interest rate rises in almost a decade are puzzled: why are rates about to go up when there's no inflation?

Both the Federal Reserve and Bank of England are proclaiming that they are on the cusp of raising interest rates for the first …

Inflation

G.E. Plans App Store for Gears of Industry

General Electric has seen the future of manufacturing and it involves competing with some very big technology companies.

G.E. is announcing on Wednesday a push into computer-based services, connecting sensors that are on machines to distant computing centers where data will be scanned for insights …

App Store

Facebook Reverses Plan to Limit Data for Advertisers

Facebook reversed a planned change to its advertising policy Tuesday, in the face of protests by game developers and other advertisers.

In May, the social network told advertisers it would no longer tell them how their mobile ads performed on a specific device.

Facebook said it would continue to …

Facebook