Daily Archives: July 26, 2013

IMF talks with Egypt to resume after international community recognises interim government

Egypt: The International Monetary Fund (IMF) has said it will not engage in talks about a possible $4.8bn loan to Egypt until the country’s interim government gains recognition from the international community, Reuters has reported. “It’s a case of the international community, … its institutions, its nations, coming together and recognising a particular government,” IMF deputy spokesman William Murray told reporters. “And until that happens, and until our members make a decision on the Egyptian government, we’re going to keep our context technical (at the technical level).” [AMEInfo.com]

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Protests hit Tunisia for second day after assassination

TUNIS (Reuters) – Demonstrations swept Tunisia for a second day on Friday after the assassination of a secular opposition figure, with one protester killed and several injured in the southern city of Gafsa, witnesses said. read more

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Bits Blog: Pinterest Allows Users to Opt Out of Being Tracked

On Friday, Pinterest, a kind of virtual pinboard, announced that it would enable Do Not Track functionality to let users opt out tracking their behavior on site. read more

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China state media says 18 more detained in GSK probe

BEIJING (Reuters) – At least 18 more people have been detained in China in connection with a corruption scandal involving British drugmaker GlaxoSmithKline, state media reported, giving more details on a probe which has rocked the company. read more

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FEMA sends $2.75 million to schools damaged in Texas blast

DALLAS, Texas (Reuters) – Schools damaged by a West, Texas, fertilizer plant explosion will receive $2.75 million in federal funds for temporary classrooms and administrative buildings, the government said Friday. read more

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Under siege, JPMorgan to quit physical commodities

NEW YORK (Reuters) – JPMorgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street’s role in the trading of raw materials comes under unprecedented political and regulatory pressure. read more

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News Analysis: Quiet Rivalry Over the Next Fed Leader Comes Out of the Shadows

The choice of the nation’s most powerful technocrat, the head of the Federal Reserve, has rarely generated this much public anticipation or political debate. read more

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DealBook: After Filling in a Blank, Trader Finishes Testimony

Fabrice Tourre, a former Goldman trader, jarred his memory to explain a comment he made in an e-mail as he wrapped up testimony in his fraud trial. read more

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Grand Canyon lightning victims were Thai tourists

PHOENIX (Reuters) – A married couple killed by a lightning bolt near the Grand Canyon this week was identified on Friday as tourists visiting from Thailand. read more

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Business Briefing | Legal News: Glaxo to Pay $45 Million to State Over Drug Marketing

GlaxoSmithKline agreed to pay Louisiana $45 million to settle lawsuits accusing it of improperly marketing the diabetes drug Avandia and other drugs. read more

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Pope, in Brazil, asks young to change unfair, corrupt world

RIO DE JANEIRO (Reuters) – Pope Francis urged young people on Friday to change a world where food is discarded while millions go hungry, where racism and violence still affront human dignity and where politics is more associated with corruption than service. read more

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Tunisian dies in violent protests in southern city of Gafsa

TUNIS (Reuters) – One man was killed on Saturday in violent protests in the southern city of Gafsa, two days after the assassination of a secular opposition figure. read more

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Business Briefing | Legal News: Pepsico to Stop Saying Its Naked Juice Is All Natural

PepsiCo said it would no longer label its Naked juices as “all natural,” after a lawsuit complained that the drinks contained ingredients that did not fit that bill. read more

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Business Briefing | Company News: JPMorgan Chase Exits Physical Commodities Trading

JPMorgan Chase will pursue “strategic alternatives” for its physical commodities arm, as Wall Street’s role in the trading of raw materials comes under intense political and regulatory pressure. read more

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