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Drop in U.S. consumer spending clouds Fed rate hike outlook

WASHINGTON U.S. consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates.

Troubles at Deutsche

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Russia, bowing to budget pressures, revives oil firm sell-off

SOCHI, Russia Russia said on Friday that it was resuming the shelved privatisation of oil firm Bashneft, in a sign of how anxious the Kremlin is to raise money to fill holes in the budget left by the economic slump.

3:55pm EDT

Indonesia's Garuda's U.S. return to generate 5 percent of 2017 revenue: CEO

MONTREAL Garuda Indonesia's , the country's national carrier, expects its return to the United States next year with three flights a week to generate about 5 percent of the airline's top-line passenger revenue for 2017, its chief executive said.

Former drug company CEO charged in $100 million fraud scheme in U.S

WASHINGTON The former CEO of drug company Inyx Inc has been charged in connection with a fraud scheme that caused more than $100 million in losses and led to the collapse of one of Puerto Rico's largest banks, the U.S. Justice Department said on Friday.

3:36pm EDT

Anthem judge considering splitting merger trial into two sections

WASHINGTON The judge who will rule on whether the government may stop health insurer Anthem from buying competitor Cigna said Friday that she was considering splitting the trial into phases.

1:14pm EDT

OPEC oil output hits record on Iraq, Libya boost: Reuters survey

LONDON OPEC's oil output is likely to reach its highest in recent history in September, a Reuters survey found on Friday, as Iraq boosted northern exports and Libya reopened some of its main oil terminals.

Libya, Iraq 1:55pm EDT

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