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Stocks close higher after Fed keeps rates unchanged; oil eyed

U.S. stocks closed higher after the Fed kept rates unchanged and the continued recovery in oil prices encouraged investor sentiment.
Source: CNBC.com | By: Evelyn Cheng
Canada reviews Arctic drilling plan as industry seeks concessions

CALGARY, Alberta, July 29- Canada's Conservative government is studying whether to extend Arctic drilling licenses, a move that could open the door to relinquishing millions of dollars in deposits paid by major energy companies. The government review began after Imperial Oil Ltd said last month it and partners Exxon Mobil Corp and BP Plc needed more time...
Source: Reuters | By: Mike De Souza
Alibaba aims at Amazon's cloud biz in $1B push

Alibaba will invest $1 billion into its Aliyun cloud computing arm to challenge Amazon.com's lucrative Web Services division.
Source: Reuters
UPDATE 1-Brazilian police probe nuclear submarine program -Folha

SAO PAULO, July 29- Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S. Paulo reported on Wednesday. Former President Luiz Inacio da Silva's government agreed in 2008 to purchase five submarines, including a...
Source: Reuters
RPT-UPDATE 3-Higher incentives, strong dollar weigh on MasterCard's revenue

July 29- MasterCard Inc, the operator of the world's second largest payment network, reported lower-than-expected quarterly revenue as it offered more rebates and incentives to win deals. MasterCard's shares, however, rose 2 percent in afternoon trading, reversing course, after some analysts said the company's underlying fundamentals were strong.
Source: Reuters | By: Sudarshan Varadhan
4 Stocks, 4 trades: Gilead, Altria & more  

The FMHR traders take their positions on four stocks making news today, including Gilead Sciences and Altria.
Source: CNBC.com
UPDATE 2-Higher incentives, strong dollar weigh on MasterCard's revenue

July 29- MasterCard Inc, the operator of the world's second largest payment network, reported lower-than-expected quarterly revenue as it offered more rebates and incentives to win deals. MasterCard was also hurt by a strong dollar as markets outside the United States account for nearly 60 percent of its purchase volumes. Mastercard usually pays higher...
Source: Reuters | By: Sudarshan Varadhan
Santelli: The only reason China isn't kicking our butt  

CNBC's Rick Santelli reports concerns that stem out of the Chinese stock market and says thank goodness for China's 'Army of Technocrats!'
Source: CNBC.com
Meet the hottest online product pitchers

As brands try to connect with today's connected generation, they're turning to top digital video and social media influencers.
Source: CNBC.com | By: Michelle Castillo
U.S. judge dismisses 'pyramid scheme' lawsuit vs Herbalife, CEO

July 29- A federal judge has dismissed a lawsuit accusing Herbalife Ltd and its chief executive officer of misrepresenting the weight-loss and nutritional products maker's sales practices as legitimate when the company was "at its core" a pyramid scheme. The judge also said that CEO Michael Johnson's reducing his Herbalife stake by a net 12 percent over...
Source: Reuters | By: Jonathan Stempel