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Asia stocks slip on U.S. worries
HONG KONG (Reuters) - Asian stocks sagged on Friday as worries U.S. growth data may surprise on the downside and downbeat comments from a Federal Reserve official gave investors reason to book profits from a steady rally this month.
Economic growth seen slower in Q2 on imports
WASHINGTON (Reuters) - Economic growth likely slowed in the second quarter as a capital investment drive by businesses was sated by imports and consumer spending tapered off, a government report is expected to show on Friday.
Citigroup to pay $75 million to settle SEC charges
NEW YORK (Reuters) - Citigroup Inc <C.N> will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.
Colgate, Glaxo sue over toothpaste "nurdle"
NEW YORK (Reuters) - Two lawsuits have been filed over a gob of toothpaste. Escalating a battle between two of the world's biggest toothpaste makers, Colgate-Palmolive Co <CL.N> sued GlaxoSmithKline Plc <GSK.L><GSK.N> in Manhattan federal court, seeking a court order that its packaging for Colgate toothpaste does not infringe trademarks held by the maker of Aquafresh.
Disney sells Miramax for over $660 million to Filmyard
LOS ANGELES/BANGALORE (Reuters) - Walt Disney Co has sold film studio Miramax for more than $660 million to Filmyard Holdings LLC, ending months of talks between the media group and various bidders.
Goldman Sachs eyes Slovenian top bank: report
LJUBLJANA (Reuters) - Goldman Sachs <GS.N> is interested in taking over Slovenia's largest bank Nova Ljubljanska Banka (NLB), daily paper Finance reported on Friday, citing unofficial government sources.
SEC charges Wyly brothers with $550 million fraud
NEW YORK (Reuters) - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors.
Samsung Elec sees weak profit after record Q2
SEOUL (Reuters) - Samsung Electronics <005930.KS>, the world's No.1 memory chipmaker, warned of weaker margins and profit growth after posting record quarterly earnings, as prices of chips and flat screens drop and smartphone competition grows.
Fed officials clash on need for more stimulus
WASHINGTON (Reuters) - Federal Reserve officials clashed on Thursday over whether the central bank should be more aggressive in supporting the stumbling economy and one said the Fed's current policy may be contributing to worryingly low levels of inflation.
Growing smartphone battle seen hitting vendors' profits
HELSINKI (Reuters) - An increasingly heated battle in the global smartphone market is set to weigh on handset vendors' profit margins during the remainder of the year, analysts said on Friday.
Fed's Bullard: deflation risk has risen
TOKYO (Reuters) - St. Louis Federal Reserve Bank President James Bullard said the risk of deflation in the United States has risen somewhat compared with the beginning of this year, the Nikkei newspaper reported.
Samsung Elec posts record Q2 on strong chip sales
SEOUL (Reuters) - Samsung Electronics Co, the world's top maker of memory chips and flat screen TVs, reported a record quarterly profit on Friday, aided by strong sales of both of its key products.
Unemployment claims fall, but still elevated
WASHINGTON (Reuters) - New claims for unemployment benefits slipped last week, but stayed at a stubbornly high level that underscored the labor market recovery was having trouble gaining traction.
Global body proposes rule to end insurer "black box"
LONDON (Reuters) - A global accounting standard setter proposed a new rule for insurers on Friday, aiming to shine a light on a sector criticized by investors for being a "black box" that keeps them in the dark.
MetLife posts Q2 earnings of $1.5 billion, beating Street
NEW YORK (Reuters) - MetLife Inc <MET.N>, the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.
Citi consumer banking head outlines strategy
NEW YORK (Reuters) - The head of Citigroup Inc's <C.N> North American consumer bank plans to grow the business by focusing more on wealthy, urban clients, according to an internal memo obtained by Reuters on Thursday.
BNP hires ex BofA executive Innes for equity sales
NEW YORK (Reuters) - BNP Paribas SA <BNPP.PA> has hired former Bank of America Corp <BAC.N> executive Chris Innes to head equity sales for the Americas in New York, a person familiar with the matter said.
Wall St falls on tech outlook worries
NEW YORK (Reuters) - U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.
Fed's balance sheet shrinks in latest week
NEW YORK (Reuters) - The Federal Reserve's balance sheet decreased in the latest week, Fed data released on Thursday showed.
Foreign central bank U.S. debt holdings rose - Fed
NEW YORK (Reuters) - Foreign central banks' ownership of U.S. Treasuries and federal agency securities rose in the latest week, data from the U.S. central bank showed on Thursday.
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