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UPDATE 2-Brazil's Embraer delays cargo jet, loses revenue on defense cuts

SAO PAULO, July 30- Brazilian planemaker Embraer SA said on Thursday it will delay development of a military cargo jet and forgo $300 million of revenue this year due to Brazil's weaker currency and defense spending cuts, triggering the biggest drop in its shares in nearly four years. Embraer now plans to deliver its first KC-390 cargo aircraft to the Brazilian...
Source: Reuters | By: Brad Haynes
Synergy Pharma rises as constipation drug meets trial goals

NEW YORK- Shares of Synergy Pharmaceuticals rose about 10 percent Thursday after the company said its constipation drug plecanatide met its goals in a second late-stage study. Plecanatide met its goals in both of those trials, and Synergy Pharmaceuticals says it plans to file for marketing approval in January. Synergy Pharmaceuticals Inc. doesn't have any...
Source: The Associated Press
US asks for reverse of insider trading ruling

The U.S. Justice Department asked the Supreme Court to reverse a federal court's ruling that they say limited their ability to pursue insider trading.
Source: Reuters
UPDATE 1-Starwood reaches out to potential bidders -sources

July 30- Starwood Hotels& Resorts Worldwide Inc has reached out to potential bidders including InterContinental Hotels Group Plc and Wyndham Worldwide Corp after it decided to explore a sale, according to people familiar with the matter. Intercontinental and Wyndham declined to comment. A tie-up between Intercontinental and Starwood could take the form of...
Source: Reuters
Tuning out local panic, some foreign funds buy China stocks

*Some optimists see historical parallels with Japan. LONDON, July 30- China's $2 trillion equity rout may not be over yet but some foreign investors, far from fleeing a volatile market dominated by small-time traders, are swimming against the tide and buying more shares. Some in this small band of optimists see historical parallels with Japan, where the stock...
Source: Reuters | By: Sujata Rao
UPDATE 7-Oil advances on US drawdown; gains curbed by robust dollar

Oil has lost more than $10 a barrel over the past month, with global benchmark Brent nearing a six-month trough earlier this week and U.S. futures near four-month lows, amid a global glut, resurgent dollar and recent stock market tumble in China. Brent was up 50 cents, or 1 percent, at $53.88 a barrel by 10:27 a.m. EDT, extending its slight rise in the previous session.
Source: Reuters | By: Barani Krishnan
Hudson Global posts 2Q profit

NEW YORK _ Hudson Global Inc. on Thursday reported second-quarter net income of $13.9 million, after reporting a loss in the same period a year earlier. For the current quarter ending in September, Hudson Global said it expects revenue in the range of $105 million to $115 million. Keywords: Hudson Global, Earnings Report.
Source: The Associated Press
Insider trading case gets taken to Supreme Court  

U.S. takes insider trading case to the Supreme Court. CNBC's Kate Kelly reports the details.
Source: CNBC.com
Gold falls 1% as dollar rises on Fed rate expectations

Gold fell 1 percent on Thursday to a near a 5-1/2-year low as the dollar rose after data showed the U.S. economy improved in the second quarter.
Source: Reuters
Judy Garland's Dorothy dress expected to fetch $1M

Put on your red shiny slippers and head down to New York this fall, for you could get your hands on Judy Garland's dress from movie "The Wizard of Oz."
Source: CNBC.com | By: Alexandra Gibbs