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U.S. construction spending hits highest level in 5-1/2 years

U.S. construction spending rebounded strongly to hit its highest level in more than 5-1/2 years in July as private construction increased and state and local government outlays surged, in a further sign of vigor in the economy.

Africa

Ebola causing huge damage to West Africa economies: development bank

Ebola is causing enormous damage to West African economies, draining budgetary resources and slashing economic growth by up to 4 percent as foreign businessmen leave and projects are canceled, the African Development Bank president said.

Cheap energy pulls down euro zone producer prices drop in July

A drop in the highly volatile energy prices depressed euro zone producer prices in July as expected, underlining disinflationary pressures in the single currency area ahead of the European Central Bank's monetary policy meeting on Thursday.

Abu Dhabi's Waha Capital in $575 mln hedging deal on half of AerCap stake

Abu Dhabi's Waha Capital has entered into a $575 million hedging deal on half of its stake in AerCap Holdings, the Emirati investment company said on Wednesday.

Baidu boosts location-based platform with new services, $10 million investment

Baidu Inc launched on Wednesday a service that helps retailers advertise on the smartphones of nearby users as China's dominant search engine company expands its location-based technology to drive growth.

Google starts quantum computing research project

Google Inc said a research team led by physicist John Martinis from the University of California Santa Barbara will join the company to start a project to build new quantum information processors based on superconducting electronics.

JPMorgan in talks to sell oil-supply agreement to BoA

JPMorgan Chase & Co (JPM.N) is in talks to sell its oil-supply agreement with a major Philadelphia refinery to Bank of America Corp (BAC.N), the Wall Street Journal reported Tuesday, citing people familiar with the matter.

Celebrity hacking clouds Apple's upcoming product launch

Apple Inc has often displayed uncanny timing, with its well-orchestrated end-of-year iPhone releases. But the leak of racy celebrity photos in the past few days put the company in the unusual position of having to mend its image just days before a highly anticipated Sept. 9 product launch.

Nikkei ends at 7-month high in on weak yen, reform hopes

Japan's Nikkei share average ended at a seven-month high on Tuesday in active trade as the yen slipped to a seven-month low against the dollar, sending exporters higher on hopes of a boost to earnings.

Deutsche Asset & Wealth Management opens Dallas office in regional shift

Deutsche Bank AG's Asset & Wealth Management division said on Tuesday it has opened a private bank in Dallas with two former JP Morgan Private Bank executives at the helm. The move is part of a global push to increase the German bank's financial adviser base by 15 percent in the next three years.

Asian shares inch down, dollar on top of the heap

Asian shares inched lower early on Wednesday after a lackluster day on Wall Street, while the dollar was close to 14-month highs against a basket of major currencies after data underscored that the U.S. economy's modest expansion continues to chug along.

Dollar General sweetens Family Dollar bid, may go hostile

Dollar General Corp (DG.N) raised its bid for Family Dollar Stores Inc (FDO.N) to $9.1 billion, and warned it may turn hostile and appeal directly to shareholders if the new offer was rejected.

U.S. factory activity expands in August at fastest pace since April 2010: Markit

The U.S. manufacturing industry expanded in August while employment in the sector grew at its fastest pace since March of last year, an industry report showed on Tuesday.

Wall Street opens flat; manufacturing data awaited

U.S. stocks opened flat on Tuesday after the S&P 500 closed out its best month since February, ahead of reports on the manufacturing sector.

'Back to normal' for AstraZeneca CEO, despite Pfizer rumors

Though speculation is rife of a new Pfizer bid, AstraZeneca's chief executive is not holed up with advisers in London or New York. Instead, he has spent the last three days immersed in heart science in Barcelona.

Pakistan parliament backs embattled prime minister as crisis deepens

Pakistan's parliament threw its weight behind embattled Prime Minister Nawaz Sharif on Tuesday as a deepening crisis over violent protests demanding his resignation prompted fears of an army intervention.

Russia, Ukraine agree on gas talks on Sept 6, await EU decision

Russia's Energy Minister Alexander Novak said on Monday that Moscow and Kiev have agreed to hold a new round of talks to resolve a gas crisis on Sept. 6.

Amid foreign crises, Obama takes solace in U.S. economic turnaround

Throughout much of his presidency, Barack Obama has been under siege about the state of the U.S. economy.

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