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July 16, 2014 / 8:55 AM / in 3 years

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TOP STORIES

China picks up as stimulus kicks in, may need more support

BEIJING - China’s economic growth picks up slightly in the second quarter as a burst of government stimulus pays dividends, but analysts say Beijing will likely need to offer more support to meet its annual growth target as the property market slows. (CHINA-ECONOMY/ (WRAPUP 1, PICTURE, TV, GRAPHICS)), moved, by Xiaoyi Shao and Kevin Yao, 935 words)

+ See also:

- CHINA-COMMODITIES/OUTPUT (UPDATE 2), moved, 590 words

- CHINA-PROPERTY/TRUSTS (PICTURE), moved, by Clare Jim, 800 words

- CHINA-ECONOMY/PROPERTY (UPDATE 2), moved, by Xiaoyi Shao and Koh Gui Qing, 645 words

Espirito Santo exposure cuts Portugal Telecom’s merger value

LISBON - Portugal Telecom has agreed to revise terms of a merger with Brazil’s Oi to reflect a lower valuation of the Portuguese company after a holding company of the troubled Espirito Santo family fails to repay a $1 billion loan. (PORTUGAL-BES/PT (UPDATE 2), expect by 0930 GMT/0530 AM ET, by Axel Bugge, 700 words)

Italy’s GTECH swallows slot-machine maker IGT for $4.7 bln

MILAN - Italy’s GTECH buys U.S. slot machine maker International Game Technology for $4.7 billion in a bold deal that will shift the lottery operator’s centre of gravity away from its struggling domestic market. (INTL-GAME-TECHNOLOGY-GTECH/ (UPDATE 2), moving shortly, by Francesca Landini and Claudia Cristoferi, 600 words)

China growth lifts European shares, oil and metals

LONDON - Stocks rise in Europe after China reports economic growth figures that are slightly stronger than markets had expected, although the reaction in Asia is more muted. (MARKETS-GLOBAL/(WRAPUP 5), moved, by Nigel Stephenson, 690 words)

ECONOMY

Ukraine leader urges EU to take tough action against Russia

KIEV - Ukrainian President Petro Poroshenko has urged the European Union to take tough action against Russia over the separatist conflict in Ukraine’s eastern regions at a summit of EU leaders in Brussels on Wednesday. (UKRAINE-CRISIS/, moved, 460 words)

+ see also:

- UKRAINE CRISIS/EU, moved, by Adrian Croft and Justyna Pawlak, 600 words

UK jobless down to 6.5 pct, earnings weaker than expected

LONDON - Britain’s unemployment rate falls to its lowest level since late 2008 in the three months to May, but pay growth is weaker than expected, official data shows. (BRITAIN-EMPLOYMENT/ (UPDATE 1, GRAPHIC), expect by 1100 GMT/7 AM ET, by William Schomberg and Andy Bruce, 700 words)

+ See also:

- BRITAIN-HOUSEHOLDS/SURVEY, moved, 185 words

Business leaders push for infrastructure funding overhaul

SYDNEY - International business leaders are lobbying the Group of 20 bloc of advanced and developing nations to tackle a $57 trillion shortfall in global infrastructure, pressing for changes to funding rules they say would greenlight key projects. (G20-BUSINESS/ (UPDATE 1), moved, by Jane Wardell, 630 words)

COMPANIES

Rio Tinto lifts iron ore output as Chinese mines struggle

SYDNEY - Rio Tinto reports a sharp rise in iron ore output in Australia, as the global miner aggressively expanded shipments to China, banking on its low costs to displace local Chinese producers. (AUSTRALIA-RIOTINTO/ (UPDATE 3,PICTURE, GRAPHIC), moved, by James Regan, 510 words)

Primark: Next stop USA

LONDON/MADRID - Discount fashion chain Primark has made its mark in Europe by offering fast-changing fashion at rock-bottom prices. The secret of its success: placing huge orders for top-selling items like socks, tops and jeans and passing on the savings to shoppers. (PRIMARK-USA/ (PICTURE), moved, by James Davey and Sarah Morris, 1,515 words)

ICAP Q1 revenue dips 14 pct as trading remains subdued

LONDON - ICAP, the world’s largest interdealer broker, says that group revenue in the first quarter fell 14 percent year-on-year, as tough market conditions continue to affect trading. (ICAP-RESULTS/ (UPDATE 1), moved, 390 words)

+ see also;

- LSE-RESULTS/, moved, 100 words

Chip tool maker ASML to miss analyst sales forecasts

AMSTERDAM - ASML, the world’s biggest manufacturer of tools for semiconductor makers, says full-year sales will miss analyst expectations as some clients have delayed purchases and technical difficulties persisted with high-end lithography systems. (ASML HOLDING-RESULTS/Q2 (UPDATE 2), moved, by Thomas Escritt, 350 words)

Royal Mail given notice of French competition investigation

LONDON - Britain’s Royal Mail has received notice from French competition authorities over a possible breach of antitrust law by one of its subsidiaries, which could result in a fine for the recently privatised group. (ROYAL MAIL-FRANCE/ (UPDATE 1), moved, by Neil Maidment, 430 words)

Yahoo’s long goodbye with Alibaba takes heat off Mayer

SAN FRANCISCO - Yahoo Inc cannot seem to part ways with Alibaba. And with Yahoo’s business continuing to deteriorate, some Wall Street analysts say it is hard to blame the company. (YAHOO-RESULTS/ALIBABA GROUP, moved, by Alexei Oreskovic, 500 words)

+ See also:

- IBM APPLE/PARTNERSHIP, moved, by Marina Lopes, 400 words

Naver says Line messenger app files for Tokyo IPO

SEOUL - South Korea’s Naver Corp says its Japan-based messaging application subsidiary Line Corp has applied for an IPO in Tokyo - an offering that could value the company at more than $10 billion. (LINE-IPO/ (UPDATE 2), moving shortly, by Emi Emoto and Sophie Knight, 350 words)

Japanese court sentences ex-Deutsche banker for bribery

TOKYO - A Tokyo judge hands a former Deutsche Bank salesman a suspended prison sentence for bribing a pension fund official with dinners and golf outings, and says more senior officials at the bank had “tacitly condoned” the practice. (DEUTSCHE SECURITIES-JAPAN/ (UPDATE 1), moved, by Nathan Layne, 400 words)

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