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China June Economy increase month National Bureau Top News 

China industrial profits jump 19.1 percent year on year, weather higher financing costs

July 27, 2017 BEIJING (Reuters) – Earnings for China’s industrial firms surged 19.1 percent in June from a year earlier, accelerating from May in a sign economic momentum remains solid even as rising borrowing costs have raised concerns about pressure on margins. Profits in June rose to 727.78 billion yuan ($107.83 billion), the National Bureau of Statistics (NBS) said on its website on Thursday. For the first half of the year, the firms notched up profits of 3.63 trillion yuan, a 22.0 percent jump from the same period of last…

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Business month U.S. 

U.S. new home sales rise in June, but trend softening

July 26, 2017 By Lucia Mutikani WASHINGTON (Reuters) – New U.S. single-family home sales increased in June as purchases in the West surged to a near 10-year high, but downward revisions to the sales pace for the prior three months pointed to a housing market that was treading water. The housing market is being constrained by a dire shortage of properties, which is keeping home prices elevated and sidelining first-time buyers. The Commerce Department said on Wednesday new home sales rose 0.8 percent to a seasonally adjusted annual rate of…

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Business consumer month New York U.S. 

Jobs lift U.S. consumer confidence to near 16-year high

July 25, 2017 By Lucia Mutikani WASHINGTON (Reuters) – U.S consumer confidence jumped to a near 16-year high in July amid optimism over the labor market while house prices maintained their upward trend in May, which could boost consumer spending after recent sluggishness. The reports on Tuesday underscored the economy’s strong fundamentals, expected to keep the Federal Reserve on course to raise interest rates for a third time this year. “This brightens the outlook for the economy as we enter the second half of the year,” said Chris Rupkey, chief…

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Business EU Google month Rishika Sadam 

Alphabet beats Wall Street estimates; revenue up 21 percent

July 24, 2017 By David Ingram and Rishika Sadam (Reuters) – Alphabet Inc surpassed expectations for quarterly revenue and earnings on Monday, reporting higher advertising sales across its platforms and trying to move past a record $2.7 billion European Union fine by taking the entire charge at once. On a consolidated basis, revenue rose about 21 percent to $26.01 billion in the second quarter ended on June 30, beating the analysts’ average estimate of $25.65 billion, according to Thomson Reuters I/B/E/S. Earnings per share was $5.01, beating an average estimate…

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Business month U.S. 

U.S. existing home sales drop as prices hit record high

July 24, 2017 WASHINGTON (Reuters) – U.S. home resales fell more than expected in June as a dearth of properties lifted house prices to a record high. The National Association of Realtors said on Monday existing home sales dropped 1.8 percent to a seasonally adjusted annual rate of 5.52 million units last month. May’s sales pace was unrevised at 5.62 million units. Economists polled by Reuters had forecast sales falling 1.0 percent to a 5.58 million-unit rate. Sales were up 0.7 percent from June 2016. An acute shortage of properties…

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consumer Economy Japan month PMI Top News 

Japan manufacturing growth dips to eight-month low as export orders stall: flash PMI

July 24, 2017 TOKYO (Reuters) – Growth in Japan’s manufacturing activity slowed for the second straight month in July, a preliminary private survey showed on Monday, as export demand stagnated. The Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index (PMI) fell to 52.2 in July on a seasonally adjusted basis from a final 52.4 in June. The reading was an eight-month low, but remained well above the 50 threshold that separates expansion from contraction for the 11th consecutive month. “The slowdown was driven by stagnation in export orders, amid reports of…

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Business ECB month policy rates 

Federal Reserve now faces prospect of global monetary policy tightening

July 23, 2017 By Howard Schneider WASHINGTON (Reuters) – Prospects for tighter monetary policy in Europe and other countries could pose a fresh problem for the Federal Reserve when it meets next week to ponder its plan to reduce its $4.2 trillion bond portfolio purchased after the 2008 financial crisis. The Fed bought U.S. Treasuries and mortgage-backed securities (MBS) for about six years in a program known as “quantitative easing” which kept interest rates at record lows to spur borrowing and economic recovery. But at its June meeting this year,…

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debt email Money month Top News U.S. 

Global investors turn to stocks – canny bet or market top?: James Saft

July 21, 2017 By James Saft (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters) With equity indexes at all-time highs, global mutual fund and ETF investors may be choosing now as the time to reverse a long-running move into bonds and out of equities. That’s either in harmony with retail investors’ legendary ability to pick the top or a canny bet on global reflation. Since the great financial crisis the broad global trend has been for mutual and exchange-traded fund investors to load…

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Amazon bank Business month results 

Wall St. set to open lower on tepid earnings

July 21, 2017 By Tanya Agrawal (Reuters) – U.S. stock indexes looked set to open slightly lower on Friday, as investors took cues from earnings reports of industrial heavyweights General Electric and Honeywell. Shares of GE fell 3 percent in premarket trading after the company results beat estimates but posted a nearly 60 percent decline in profit. Honeywell International edged up 0.1 percent after the technology and manufacturing company reported a rise in its second-quarter profit. Microsoft fell 0.8 percent, a day after the company reported strong fourth-quarter earnings. Attention…

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Hansa Market Justice Department month news Tech Top News 

U.S. Justice Department shuts down dark web bazaar AlphaBay

July 21, 2017 By Dustin Volz WASHINGTON (Reuters) – The U.S. Justice Department said on Thursday it had shut down the dark web marketplace AlphaBay, working with international partners to knock offline the site accused of allowing a global trade in drugs, firearms, computer hacking tools and other illicit goods. Authorities said the law enforcement action was one of the largest ever taken against criminals on the dark web, part of the internet that is accessible only through certain software and typically used anonymously. AlphaBay allowed users to sell and…

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