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TOP STORIES

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)

Growth fears hit stocks, investors eye Fed and Draghi

LONDON - World stocks fall as a decline in Chinese inflation and weaker European industrial data combined to suggest global growth may be slowing, eclipsing a positive start to the U.S. earnings season. (GLOBAL-MARKETS/, moved, by Jamie McGeever, 700 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 2), 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, moved, 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)

Slow recovery leaves clouds over Q2 profits in Europe

LONDON - The earnings outlook for European firms is on the mend, though a spate of profit warnings and some weak economic indicators mean the second-quarter reporting season is unlikely to give investors a decisive steer. (EUROPE-MARKETS/RESULTS, moved, by Atul Prakash, 650 words)

Grim news for dark pools offers some relief to exchanges

LONDON - The worsening regulatory outlook for opaque, quasi-anonymous trading venues known as "dark pools" is set to bring some relief to the embattled national exchanges that have spent the past decade trying to fight them. (DARK-POOLS/EXCHANGES, expect by 1400 GMT/10 AM ET, by Lionel Laurent and Clare Hutchison, 700 words)

Greece to open order books for three-year bond - sources

ATHENS - Greece is expected to officially announce a new three-year euro bond, according to sources with knowledge of the matter, marking its return to the financial markets with a second sale in three months (GREECE-BONDS/ (UPDATE 2), expect by 1300 GMT/9 AM ET, by Lefteris Papadimas and Alex Chambers, 500 words)

ECONOMY

ECB looks to banks to deliver QE on its behalf

FRANKFURT/PARIS - The European Central Bank is hoping a new round of long-term loans will be used by banks to drive down borrowing costs - a substitute for an asset-purchase scheme of its own which would avert a potentially damaging internal split (ECB-STRATEGY/, moved, by Paul Carrel and Ingrid Melander, 1,400 words)

UK launches competition review into institutional banking

LONDON - Britain's financial watchdog is launching a broad "exploratory" review of competition in wholesale financial markets to check if they operate effectively to aid the economy and give their institutional, corporate and government customers a good deal. (BRITAIN-MARKETS/REGULATOR (UPDATE 1), moved, by Huw Jones, 555 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)

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 (UPDATE 1), moved, by Andy Bruce, 370 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)

Vatican makes major changes to its financial structure

VATICAN CITY - The Vatican announces major changes to its economic structures, appointing a new head of its troubled bank and increasing scrutiny on an another key Vatican department that has been involved in financial scandals in the past. (VATICAN-FINANCIAL/ (PICTURE, TV), moved, by Philip Pullella, 500 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)

COMPANIES

Emirates finalises $56 bln order for 150 Boeing 777X planes

Dubai airline Emirates finalised a $56 billion order to buy 150 Boeing 777X jets, firming up a commitment made last year, just weeks after scrapping an order with rival planemaker Airbus. (BOEING-ORDERS/ (UPDATE 2), moved, 415 words)

Lufthansa eyes no-frills long haul in new CEO's revamp

SEEHEIM, Germany - Deutsche Lufthansa may launch low-cost long haul flights under a new brand as part of a plan to battle competition from Middle East carriers and low cost airlines, its new chief executive says. (AIRLINES-LUFTHANSA/STRATEGY (UPDATE 1), moved, by Victoria Bryan, 510 words)

Banco Espirito Santo shares slide on debt reports

LISBON - A near-10 percent fall in the shares of Banco Espirito Santo (BES) accompanied a spike in Portuguese bond yields, with reports of a proposed debt-restructuring increasing concern over the country's financial sector. (ESPIRITOSANTO/ (UPDATE 1), moved, by Axel Bugge and Andrei Khalip, 525 words)

Advocates for blind, deaf want more from Apple

SAN FRANCISCO - Advocates for the blind are debating whether to use a carrot or a stick to persuade one of their oldest allies, Apple Inc, to close an emerging digital divide in mobile technology. (APPLE-MOBILEPHONE/ACCESSIBILITY (FEATURE, PICTURE), moved, by Christina Farr, 1,110 words)

+ See also:

- APPLE-CHINA/, moved, 210 words

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article