Manufacturing lifts recovery with sustained growth
The ISM reports its manufacturing index at 55.5 in July, the 12th straight expansion month above 50. Production and new orders grew, more firms signaled hiring plans, with chipmaker Texas Instruments and Intel posting gains and DuPont lifting sales volume and prices.
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Institute For Supply Management
Joel Naroff
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BP plans to drill off Shetland and Libya face opposition
BP aims to start deepwater exploration in the Gulf of Sirte and off the Shetland Islands within weeks. Environmental campaigners and some lawmakers urge a U.S.-style ban on deepwater drilling amid the Gulf of Mexico spill, while energy demand and political cohesion pose hurdles.
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Wall Street Opens August With Broad Rally On Global Data
Traders gather at the New York Stock Exchange as August begins with a strong rally driven by global economic reports. The Dow rose 208 points to its best close in three months, with major indices up about 2 percent. Manufacturing data from ISM and euro-area surveys improved, while European banks posted solid earnings amid debt concerns. China signaled moderate growth, easing fears of new slowdown.
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Adam Metzger
Flint
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Jane Wardell
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