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UPDATE 1-U.S. Midwest business index tumbles to 13-month low  

* Chicago PMI posts biggest monthly drop since October 2008 * July U.S. vehicle sales seen cooling from 8-year high (Adds background on latest data) July 31 (Reuters) - The pace of business activity in the U.S. Midwest in July sank to its slowest since June 2013, signaling a sharp deceleration in that region's economy, a report showed on Thursday. The Institute for Supply Management-Chicago business barometer tumbled to 52.6 in July from 62.6 in June. Economists had been looking for a July reading of 63.0....More
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VW CFO Says Not Ruling Out Acquisitions Forever  

Wolfsburg-based VW earlier this month denied a press report saying it was seeking to buy U.S. truck maker PACCAR....More
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UPDATE 1-BorgWarner forecasts 2014 earnings below expectations  

(Adds revenue forecast, analyst estimates, share price) July 31 (Reuters) - Auto-parts maker BorgWarner Inc's full-year profit forecasts fell short of analyst expectations, sending its shares down 4 percent in early trading. BorgWarner raised its 2014 profit forecast for the second time in six months, to $3.25-$3.35 per share, from its previous forecast range of $3.15-$3.30 per share. However, analysts on average were expecting $3.36 per share, according to Thomson Reuters I/B/E/S....More
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BRIEF-Delphi Automotive CEO says further restructuring in South America to reduce regional footprint  

DETROIT, July 31 (Reuters) - Delphi Automotive PLC CEO Rodney O'Neal on conference call: * CEO says undertaking further restructuring in South America to reduce company footprint in that region...More
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WRAPUP 2-Japan's second-tier automakers say on track for record profits  

* Mazda, Fuji Heavy's strong U.S. sales cover for Japan downturn * Mazda says focusing on profitability over volume * Mazda expects July Japan sales to drop 20 percent yoy * Subaru maker Fuji Heavy's operating profit margin at 13 pct (Recasts, adds Mazda executive quote, U.S. incentive figures) By Yoko Kubota...More
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UPDATE 1-Delphi posts strong profit, but third-quarter forecast may disappoint  

(Adds comments, details, background) DETROIT, July 31 (Reuters) - Delphi Automotive reported a stronger-than-expected second-quarter profit on Thursday, but offered a forecast for the current quarter that could disappoint investors. The auto parts maker said it expects a third-quarter profit excluding one-time items of $1.10 to $1.18 a share on revenue of $4.2 billion to $4.3 billion. Analysts polled by Thomson Reuters I/B/E/S were expecting $1.17 a share and $4.32 billion....More
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BorgWarner profit up 9 pct, raises FY earnings forecast  

July 31 (Reuters) - BorgWarner Inc, a maker of automotive turbochargers and emissions systems, posted a higher quarterly profit, helped by higher sales at its engine and drivetrain businesses. Net income attributable to BorgWarner rose about 9 percent to $190.2 million, or 83 cents per share, in second quarter ended June 30, from $174.1 million, or 75 cents per share, a year earlier. Excluding one-time items, the company earned 89 cents per share....More
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Delphi posts strong profit, but third-quarter forecast may disappoint  

DETROIT, July 31 (Reuters) - Delphi Automotive reported a stronger-than-expected second-quarter profit on Thursday, but offered a forecast for the current quarter that could disappoint investors. The auto parts maker said it expects a third-quarter profit excluding one-time items of $1.10 to $1.18 a share on revenue of $4.2 billion to $4.3 billion. Analysts polled by Thomson Reuters I/B/E/S were expecting $1.17 a share and $4.32 billion....More
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Panasonic Coy on Details in Planned $5 Billion Investment in Tesla Battery Plant  

CFO Hideaki Kawai saysPanasonic, which already supplies batteries for Tesla's electric cars, will invest gradually in the factory, and keep an eye on car demand....More
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EU mergers and takeovers (July 31)  

BRUSSELS, July 31 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process: APPROVALS AND WITHDRAWALS -- French technology services group Atos to acquire French peer Bull (approved July 31) -- Private equity firm Triton to acquire German industrial machinery and engineering company GEA Group's heat exchanger business (approved July 31)...More
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