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World - Air France ends diversion from Mali crash site

Air France-KLM ended on Friday a temporary `precautionary measure` which diverted its traffic away from the site in northern Mali of the crashed Air Algerie airline, the French group said. Earlier the company said it would use alternate flight paths to the west of the crash site in northern Mali to serve the capital Bamako. French officials said earlier they believed poor weather was the likely cause of Thursday`s crash of an Air Algerie flight between Burkina Faso and Algeria.

Friday, July 25, 2014  14:41


Business - U.S. durable goods orders rebound, core capital goods rise

The Commerce Department said on Friday durable goods orders increased 0.7 percent as demand increased from transportation to machinery and computers and electronic products. Orders for durable goods, items ranging from toasters to aircraft that are meant to last three years or more, were revised to show a slightly bigger 1.0 percent fall in May. Economists polled by Reuters had forecast orders rising 0.5 percent in June after a previously reported 0.9 percent fall the prior month. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rebounded 1.4 percent after downwardly revised 1.2 percent decline in May. Economists had expected orders for these so-called core capital goods to increase 0.5 percent. Shipments of core capital goods are used to calculate equipment spending in the government`s GDP measurement.

Friday, July 25, 2014  13:48


World - Cyprus passes 5th bailout review

NICOSIA, Cyprus (AP) Cyprus` international creditors say the country`s bailout program is making good progress as fiscal targets have been comfortably met, welfare reform has move forward and more steps have been taken to shore up the weak banking sector.

Friday, July 25, 2014  13:47


Business - Liberty Media plans stock dividend to spin off cable assets

(Reuters) - John Malone`s Liberty Media Corp started the process of spinning off its cable assets through a stock dividend to its shareholders to form a new listed company called Liberty Broadband. Liberty Broadband, in a regulatory filing, said the stock dividend would be worth up to $4.8 billion and Malone would retain a voting interest of 47.3 percent.

Friday, July 25, 2014  12:40


World - Air France to avoid Mali crash site as `precaution`

Air France-KLM is to avoid flying over the site in northern Mali of the crashed Air Algerie airline as a `precautionary measure`, a spokesman for the French group said on Friday. The spokesman said the company would continue to serve the Malian capital Bamako, but using other flight paths to the west of the crash site in northern Mali. French officials said earlier they believed poor weather was the likely cause of Thursday`s crash of an Air Algerie flight between Burkina Faso and Algeria.

Friday, July 25, 2014  12:13


World - UK economy grows 0.8 pct to reach pre-crisis size

LONDON (AP) Official figures show Britain`s economy has surpassed its pre-recession size for the first time since the 2008 global banking crisis.

Friday, July 25, 2014  11:20


World - Towering worry: Small holes cause big jitters

SEOUL, South Korea (AP) For the developers of the world`s sixth tallest building near Seoul, a mysteriously shrinking lake and the appearance of small sinkholes in residential neighborhoods couldn`t have come at a more inopportune time.

Friday, July 25, 2014  09:34


Business - Argentina says debt deal possible if holdouts act in good faith

By Richard Lough BUENOS AIRES (Reuters) - Argentina said on Friday that a debt deal could be reached with `holdout` investors suing the country for full payment of their bonds if they, and a U.S. judge who has ruled in their favor, start acting in good faith and showing a rational attitude. Argentina is staring down the barrel of a second default in 12 years if it is unable, before a July 30 deadline, to reach an agreement with the holdouts, New York hedge funds. U.S. District Judge Thomas Griesa on Tuesday ordered that Argentine officials meet continuously with the holdouts, whom the government portrays as `vultures` picking over the carcass of its $100 billion default in 2001. `With the good faith of the vulture funds and rational attitude from Griesa, this litigation can be resolved,` Argentine cabinet chief Jorge Capitanich told reporters.

Friday, July 25, 2014  14:28


Business - Lower printer sales hurt Xerox`s revenue

(Reuters) - Xerox Corp reported a 2 percent fall in second-quarter revenue, hurt by lower demand in its printing business. Net income attributable to Xerox fell to $266 million, or 22 cents per share, for the quarter ended June 30, from $271 million, or 21 cents per share, a year earlier. Revenue fell to $5.29 billion from $5.39 billion a year earlier. Revenue from its printing business, which accounts for 40 percent of total revenue, fell 6 percent. (Reporting by Soham Chatterjee in Bangalore; Editing by Savio D`Souza)

Friday, July 25, 2014  14:28


Business - Wall St. set to dip at open, Amazon weighs

By Rodrigo Campos NEW YORK (Reuters) - U.S. stocks were set to dip at the open on Friday, weighed by weak results including those from Amazon, with the S&P 500 expected to remain near its record high and within striking distance of 2,000. Amazon shares tumbled more than 10 percent in premarket trading after investment in new businesses cut into earnings and the company reported a much larger-than-expected loss in the second quarter.

Friday, July 25, 2014  14:14

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