Business Today: China rally, Russia respite lifts shares as focus turns to U.S.

		Click to View in Browser 07/29/2014 China rally, Russia respite lifts shares as focus turns to U.S. LONDON (Reuters) - World shares hovered just below all-time highs on Tuesday as investors drew encouragement from a rally in Chinese markets and beaten-down Russian stocks enjoyed some respite after three days of heavy selling. Futures rise on earnings, data on tap NEW YORK (Reuters) - U.S. stock index futures edged higher on Tuesday following better-than-expected results from companies such as Pfizer and Merck and ahead of data on home prices and consumer sentiment. Rural votes, old traumas drive India's WTO brinkmanship NEW DELHI (Reuters) - With grain silos spilling over, exports on the rise and an avowed market champion for prime minister, India's threat to trash a global trade deal in the name of food security appears puzzling. China regulator announces anti-monopoly probe of Microsoft BEIJING (Reuters) - A Chinese regulator said on Tuesday it is conducting an anti-monopoly investigation into Microsoft Corp over its Windows operating system, in the latest in a growing number of competition probes that have unnerved Western firms in China. Exclusive: Goldman unit eyes foray into China amid metals financing scandal NEW YORK/SYDNEY/LONDON (Reuters) - Goldman Sachs Group Inc's metals warehousing unit is exploring its first foray into China, and privately held C Steinweg has expanded capacity there, sources said, as a financing scandal in a major Chinese port fuels a scramble for market share. NY Times quarterly revenue falls on lower print ad sales (Reuters) - New York Times Co reported a slight drop in second-quarter revenue as print advertising sales fell 6.6 percent, and the company said it expected a mid-single digit percentage drop in total ad revenue in the current quarter. U.S. regulators looking into UBS, Deutsche Bank speed trading operations FRANKFURT/ZURICH (Reuters) - Germany's Deutsche Bank and Switzerland's UBS said they were caught up in an inquiry by U.S. regulators, who are looking into whether broker-run stock exchanges gave an unfair advantage to high-frequency traders. Merck second quarter profit tops estimates on strong consumer sales (Reuters) - Merck & Co Inc reported better-than-expected quarterly results on Tuesday, with sales of consumer products and medicines for arthritis and HIV helping to offset the impact of generic competition on other drug sales. Reynolds American profit rises 6.7 pct on higher pricing (Reuters) - Tobacco major Reynolds American Inc's quarterly profit rose 6.7 percent as price increases helped to make up for a drop in cigarette volumes. UPS slashes forecast as it spends to boost capacity (Reuters) - United Parcel Service Inc , the world's biggest courier company, slashed its earnings forecast for the year as it spends to boost capacity ahead of the holiday shopping season. Related Video Breakingviews: Europe strikes back Asia Day Ahead: No joy for region's industrial output Economic News Rural votes, old traumas drive India's WTO brinkmanship China to hold key economic meeting in October: state TV A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend