China's foreign reserves hit $1.33 trillion

BEIJING (Reuters) - China's foreign exchange reserves, the world's largest, swelled to $1.33 trillion by the end of the first half on the back of massive trade flows that contributed to an acceleration in money supply growth in June.

Dow Jones meets investors on alternate bid: source

NEW YORK (Reuters) - Dow Jones & Co. , in talks for a takeover by News Corp. , met with supermarket magnate Ron Burkle and Internet entrepreneur Brad Greenspan on Tuesday in an effort to find an alternative offer, a source familiar with the situation said.

Alcan begins merger talks with Rio Tinto: report

TORONTO (Reuters) - Aluminum producer Alcan Inc. has begun negotiating toward a merger agreement with Rio Tinto Plc to fend off a hostile bid from U.S. rival Alcoa Inc. , a Canadian newspaper said on Wednesday.

Liz Claiborne to cut jobs, eyes option for 16 brands

NEW YORK (Reuters) - U.S. apparel company Liz Claiborne Inc. said on Wednesday that it will cut up to 800 jobs and consider its options for 16 apparel brands under a plan to cut costs.

Citigroup to list shares in Tokyo, boost branches

TOKYO (Reuters) - Citigroup plans to list its shares in Tokyo and boost the number of its branches in Japan by 40 percent as the U.S. financial group looks to move beyond a niche role in the world's second-largest economy.

Microsoft holds firm on Xbox 360 pricing

SANTA MONICA, California (Reuters) - Microsoft Corp. said on Tuesday it will hold firm on pricing for its Xbox 360 game console, defying widespread expectations that it would respond to a price cut by rival Sony Corp. for the PlayStation 3.

U.S. home loan demand climbs even as rates surge

NEW YORK (Reuters) - U.S. mortgage applications rose last week, fueled by increased demand for home purchase loans even as interest rates hit their highest level in nearly a year, an industry group's data showed on Wednesday.

OPEC can do nothing about high oil price: Qatar

DOHA (Reuters) - OPEC can do nothing about the high price of oil because factors other than crude supply have sent the market to near record levels, Qatar's Energy Minister said on Wednesday.

Qatar, Hydro award GE, Doosan power plant contract

DUBAI (Reuters) - Qatar and Norsk Hydro have awarded General Electric and Doosan Heavy Industries a contract to build a 1,250 megawatt power plant for an aluminum smelter, the companies said on Wednesday.

Danone already owns 26 pct of Numico: filing

AMSTERDAM (Reuters) - French food group Danone , which is finalizing a 12.3 billion-euro ($17 billion) agreed bid for Dutch baby-food and special nutrition company Numico , has already acquired 26.4 percent of Numico, regulatory filings showed on Wednesday.