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Garmin misses 2Q profit forecasts

SCHAFFHAUSEN, Switzerland _ Garmin Ltd. on Wednesday reported second-quarter earnings of $137.8 million. Garmin expects full-year earnings to be $2.65 per share, with revenue expected to be $2.9 billion. Garmin shares have fallen 19 percent since the beginning of the year, while the Standard& Poor's 500 index has increased nearly 2 percent.
Source: The Associated Press
Global rice prices to surge by year-end as El Nino hits Asian supply

MUMBAI, July 29- Global rice prices are likely to surge by 10 percent to 20 percent in the next few months as an El Nino weather pattern grips top producers in Asia, baking the region's croplands and whittling down stocks of the grain to multi-year lows. While higher prices of a key staple would be bad news for impoverished countries in Asia and Africa, lower output...
Source: Reuters | By: Rajendra Jadhav
Shrinking Dead Sea leaves trail of perilous sinkholes

EIN GEDI, Israel, July 29- A neglected grove of date palms, their leaves long fallen, trunks drooping in the searing heat at the lowest point on earth, is the latest casualty of a dramatic rise in sinkholes wreaking havoc along the coast of the Dead Sea. The Dead Sea is shrinking, and as its waters vanish at a rate of more than one metre a year, hundreds of sinkholes, some the...
Source: Reuters | By: Ari Rabinovitch
Central European Media reports 2Q loss

PRAGUE _ Central European Media Enterprises Ltd. on Wednesday reported a loss of $8.7 million in its second quarter. This story was generated by Automated Insights using data from Zacks Investment Research. Keywords: Central European Media, Earnings Report.
Source: The Associated Press
Fed statement may bring more volatility than expected

No matter how much it tries to avoid it, the Fed could get markets spinning on a fresh round of rate hike speculation Wednesday.
Source: CNBC.com | By: Patti Domm
Fed to hog Wall Street spotlight

U.S. stock futures suggested a positive Wall Street open on Wednesday, as the spotlight turned to the end of the U.S. Federal Reserve's two-day meeting.
Source: CNBC.com | By: Dhara Ranasinghe
UPDATE 2-Brutal Lotte succession battle sends shares in group firms surging

SEOUL, July 29- An ugly fight among Lotte Group founding family members for control of the conglomerate's holding company sent shares in group firms jumping on Wednesday as investors bet the founder's sons would seek to boost their stakes. Whether younger son Shin Dong- bin, 60, will be able to maintain his grip on Lotte Holdings remains uncertain as the father...
Source: Reuters | By: Joyce Lee
China auto sales slump hits industry fortunes

BEIJING- General Motors Co.' s $5 billion initiative to create cars for China and other emerging markets comes just as automakers face a collapse in the booming Chinese demand they were counting on to power their growth. On Wednesday, Volkswagen AG said its second-quarter profit fell 16 percent due partly to weakness in China, where first-half sales fell 0.5...
Source: The Associated Press | By: By JOE McDONALD, AP Business Writer
WRAPUP 2-China stocks bounce back as intervention restores stability

SHANGHAI/ HONG KONG, July 29- Chinese shares bounced back more than 3 percent on Wednesday, as Beijing's latest efforts to prop up values restored a measure of stability to its unruly stock market. After a dramatic plunge of more than 8 percent in Chinese stocks on Monday, China's securities regulator announced probes into share "dumping" and pledged to buy stocks...
Source: Reuters | By: Pete Sweeney and Michelle Chen
Nissan's quarterly profit up on cheap yen, US sales growth

TOKYO- Nissan's April-June profit jumped 36 percent as the Japanese automaker benefited from a cheap yen and better sales in the U.S. and Europe. Nissan stuck to its forecast for a 485 billion yen annual profit. "Given our on-going product offensive, the benefits of our alliance strategy and continued cost discipline, Nissan is on track to deliver its full-year...
Source: The Associated Press