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Restructuring Charges Hit Profit at Spain's Repsol

Spain's oil giant Repsol said Thursday that its net profit fell 30 percent in the second quarter, with asset sales failing to compensate for restructuring costs.

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British Bank Lloyds Axes another 3,000 Jobs

British bank Lloyds will axe 3,000 more jobs by 2017, it said Thursday, as it braces for the Bank of England's widely-expected post-Brexit interest rate cut next week.

Lloyds Banking Group (LBG) has decided to extend its restructuring plans with the closure of 200 branches and 3,000 jobs by the end of next year, it revealed in an interim results statement.

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Oil Slightly Higher after Five-Day Slump

Oil prices edged up in Asia Thursday after slumping for five-straight sessions to a three-month low after a surprise jump in U.S. stockpiles built on increasing worries about a global supply glut.

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Boeing Reports $234 mln Loss after Unexpected Costs

Boeing reported a second-quarter loss Wednesday due to elevated costs for an Air Force contract and for commercial air production as it confirmed its full-year plane deliveries targets.

The U.S. aerospace giant lost $234 million for the quarter ending June 30 following $2.1 billion in unexpected charges announced last week.

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US, European Gas Giants Bid for Cyprus Drilling Rights

ExxonMobil, ENI and Total are among eight energy giants bidding to drill for undersea oil and gas off the southern coast of Cyprus, officials said Wednesday.

Companies from Europe, the U.S., Qatar and Israel are bidding for three new drilling licenses, Cypriot Energy Minister George Lakkotrypis told reporters.

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Brexit Chips away at German Consumer Morale

Confidence among German consumers suffered slightly in July as households digested Britain's vote to quit the European Union, a poll found on Wednesday.

Last month's Brexit was "an important reason why uncertainty about future economic developments grew slightly," market research company GfK said in a statement.

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Deutsche Bank Second Quarter Net Profit Tumbles by 98%

Troubled German giant Deutsche Bank saw net profit tumble in the second quarter to 20 million euros ($22 million), down 98 percent on the previous year's figure, results released on Wednesday showed.

The result, blamed on a "weak" business environment and complex restructuring by chief executive John Cryan, fell well short of the average of 188 million euros expected by analysts surveyed by Factset.

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Treasury Says Brexit a Danger to U.S. Financial Stability

Britain's vote last month to exit the European Union has raised the danger level for U.S. financial stability, according to U.S. Treasury Department report released Monday.

The U.S. Office of Financial Research said risks to the American economy remained in the "medium" range but had been exacerbated by shock victory of the "leave" campaign in Britain's June 23 referendum on EU membership.

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German Businesses Shrug Off Brexit Fears

Britain's vote to leave the EU has had a limited impact on business confidence in Germany, with belief in domestic strength still strong, a key survey showed on Monday.

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Oil Prices Extend Losses on Supply Worries

Oil prices dipped on Monday, extending last week's losses on fresh worries about a global supply glut as more U.S. rigs come back online and the dollar strengthens.

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