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TOP STORIES

Growth fears eclipse US earnings; Fed, Draghi eyed

LONDON - World stocks fall as cooling Chinese inflation overnight adds to weak European industrial data earlier in the week, pointing to slowing global growth and eclipsing a positive start to the U.S. earnings season. (GLOBAL-MARKETS/ (WRAPUP 4), moved, by Jamie McGeever, 800 words)

China consumer inflation cools, more stimulus expected

BEIJING - China's consumer inflation cooled slightly more than expected in June, pointing to lingering weakness in the economy which could prompt Beijing to launch further stimulus measures to shore up growth. (CHINA-ECONOMY/CPI (UPDATE 2), moved, 765 words)

AbbVie forced to retract comments in Shire takeover fight

LONDON - U.S. drugmaker AbbVie has been forced to retract comments by its chief executive about shareholder support for its bid for Shire after being caught out by British takeover rules. (SHIRE-ABBVIE/ (UPDATE 1), moved, by Ben Hirschler, 485 words)

More US sanctions only curb, not kill, Russia's oil dream

MOSCOW - Launch of world's biggest oil drilling platform in Okhotsk Sea marks a step towards boosting output but also exposes Russian dependence on foreign technology - something Washington will target in new sanctions if Moscow fails to ease tensions in Ukraine. (UKRAINE-CRISIS/OIL-SANCTIONS, expect by 1000 GMT/6 AM ET, by Katya Golubkova, 1,000 words)

MARKETS

U.S. stock valuation metrics make strategists nervous

NEW YORK - The S&P 500 is closing in on the vaunted 2,000 mark, but a growing number of strategists, looking at common measures of valuation, are wondering if the milestone is justified. (USA-STOCKS/VALUATION (ANALYSIS), moved, by Chuck Mikolajczak, 850 words)

Greek bond yields rise amid reports of imminent bond sale

LONDON - Greek bonds yields shoot up as investors sell existing debt to make space in their portfolios for the country's second new issue since its default two years ago, a deal tipped to be issued imminently. (MARKETS-BONDS/, moved, by John Geddie, 455 words)

ECONOMY

UK retailers report record biggest price drop since 2006

LONDON - British retailers saw the biggest annual decline in prices since at least 2006 in June, with cheaper furniture, electricals and clothes as well as a supermarket price war all contributing, an industry group says. (BRITAIN-INFLATION/BRC, moved, 250 words)

+ See also:

- BRITAIN-HOUSEPRICES/HALIFAX, moved, 100 words

ECB policy steps will take time to have effect - Praet

PARIS - The package of policy measures the European Central Bank announced in June will take time to have an effect on the euro zone economy, ECB Executive Board member Peter Praet said on Wednesday. (ECB-POLICYMAKERS/PRAET, moved, 100 words)

+ See also:

- ECB-POLICYMAKERS/DECISION, moved, 100 words

- ECB-POLICYMAKERS/COEURE, moved, 100 words

- ECB-POLICYMAKERS/, moved, 280 words

BRICS to launch New Development Bank next week - Russia

MOSCOW - Leaders of the BRICS nations will launch their long-awaited development bank at a summit next week and decide whether the headquarters should be in Shanghai or New Delhi, Russian Finance Minister Anton Siluanov says. (RUSSIA-BRICS/BANKS, moved, by Lidia Kelly, 660 words)

China, U.S. say committed to managing differences

BEIJING - China and the United States need to manage their differences, the leaders of both countries says at the start of annual talks expected to focus on cyber-security, maritime disputes, the Chinese currency and an investment treaty. (CHINA-USA/ (UPDATE 3, TV, PICTURE), moved, by Lesley Wroughton and Michael Martina, 775 words)

Shale boom sees US set to pass Russia, Saudi Arabia

NEW YORK - Four years into the shale revolution, the U.S. is on track to pass Russia and Saudi Arabia as the world's largest producer of crude oil, most analysts agree. (USA OIL/SHALE FORECASTS (ANALYSIS, PICTURE), moved, by Catherine Ngai, 1,200 words)

COMPANIES

Citigroup may pay $7 bln to resolve U.S. mortgage probes

NEW YORK/WASHINGTON - Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the matter says. (CITIGROUP-INVESTIGATION/, moved, by Karen Freifeld and Aruna Viswanatha, 350 words)

Boeing, Emirates finalise $56 bln order for 150 777X planes

Boeing says it has finalised an order for 150 777X planes from Emirates Airline in a deal valued at $56 billion at list prices. (BOEING-ORDERS/ (UPDATE 1), moving shortly, 180 words)

New Lufthansa CEO to unveil plans for the German airline

SEEHEIM, Germany - More cost-cuts and low cost expansion could be on the cards as the new chief executive of Lufthansa, Carsten Spohr, presents his strategy for the leading German airline. (AIRLINES-LUFTHANSA/STRATEGY, expect by 1130 GMT/6.30 AM ET, by Victoria Bryan, 200 words)

Apple loses China patent case, separate suit continues

BEIJING - A Beijing court has ruled against Apple Inc by upholding the validity of a patent held by a Chinese company, clearing the way for the Chinese company to continue its own case against Apple for infringing intellectual property rights. (APPLE-CHINA/, moved, 210 words)

Aviva says to double excess cashflow by end of 2016

LONDON - UK insurer Aviva kicks of the next stage of its turnaround plan with plans to claw back more cash from its various business units, to help pay down debt and fund dividend payments. (AVIVA-STRATEGY/ (UPDATE 2), moving shortly, by Simon Jessop, 515 words)

Sodexo cuts sales goal due to contract delays

PARIS - French catering, facilities management and vouchers group Sodexo says that its fourth-quarter would be weaker than expected due to the delayed start-up of some major contracts and so cut its full-year sales growth goal. (SODEXO-SALES/ (UPDATE 1), moved, 380 words)

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