The euro dipped on Tuesday, struggling to pull away from four-year lows hit on Monday, and Asia stocks fell to three-month lows as persistent worries about the euro area's fiscal health weighed on investor sentiment.
China is committed to improving its exchange rate system based on domestic and international economic conditions, a foreign ministry spokesman said on Tuesday. Ma Zhaoxu was responding to a question at a regular press briefing about how the yuan will figure in next week's Strategic and Economic Dialogue with the United States.
Japanese manufacturers turned optimistic for the first time in two years in May, a Reuters poll showed, providing further evidence of the economy's continuing recovery led by Asian demand.
Google Inc could face inquiries from German and U.S. officials following the company's disclosure it had mistakenly collected sensitive data sent by consumers over wireless networks, the Financial Times reported on Tuesday.
General Motors Co posted a first-quarter profit as demand steadied in the United States and sales boomed in China, a turnaround the automaker said could put it on track for its first full-year profit since 2004.
Volkswagen, Europe's largest carmaker, sold 2.34 million vehicles for an increase of 21 percent during the first four months, thanks mainly to China -- destination for more than a quarter of its volume.
Platinum and palladium prices have witnessed a big surge in the recent past following the increased demand from auto sector in China and India. But this surge has hit the auto makers in India in a big way. Due to increased competition in Indian market car makers in India have been witnessing a price war. At that time the steel prices soared and along with that platinum and palladium prices also shot up.
Foreigners bought a record $140.5 billion of long-term U.S. securities in March, the Treasury Department said on Monday, and more than doubled purchases of U.S. government bonds.
British insurer Prudential Plc unveiled a $21 billion cash call as it tried to put its takeover of AIG's Asian unit back on track and launched a charm offensive to woo wary shareholders.
British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG's Asian unit.
British bank Standard Chartered is replacing the BlackBerry, currently its standard corporate communications device, with the iPhone, a move that could eventually result in thousands of bankers switching to the Apple device for business communication on the go.
British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG's Asian unit.
A leading Chinese economic indicator showed that growth may have already peaked in the world's third-largest economy with the stock market falling on investor worries about the government's campaign to rein in property prices.
HSINCHU, Taiwan May 17 - AU Optronics Corp, Taiwan's No. 2 LCD maker, said an LCD panel shortage is likely to last into the second half of this year on robust demand for PCs and TVs, even though fears linger about a weak euro.
The euro sank to four-year lows on Monday as angst over Europe's debt crisis led investors to pull more money from stocks in favor of havens such as gold and Asian bonds.
World's two largest gold consumers, India and China, have different figures to offer as afar as gold sale is concerned last week. Global leader in gold consumption, India witnessed not so impressive figures last week as traditional gold buying festival 'Akshaya Trithiya' fails to boost sales. The festival, which is more popular in south India, is the second-largest gold buying day in the world's largest market for gold.
China's Internet firewall is a trade barrier and needs to be tackled within the framework of the World Trade Organization, Neelie Kroes, vice-president of the European Commission, told reporters in Shanghai on Monday.
Global miner BHP Billiton appeared to soften on Monday its opposition to a new Australian mining tax, saying the levy should apply only to new projects, while the government signaled it might be open to compromise.
China's Anshan Iron and Steel Group , also known as Angang, confirmed on Monday it would invest in a steel mill in the United States.
The yuan has risen strongly against the euro and this appreciation will harm Chinese exporters, a Commerce Ministry official said on Monday.
The yuan has risen strongly against the euro and this appreciation will harm Chinese exporters, a Commerce Ministry official said on Monday. Pegged to a rising dollar, the yuan has appreciated against a trade-weighted basket of currencies in recent months, which many analysts believe could constrain the scope for a possible revaluation of the Chinese currency.
Capital inflows are placing big pressure on China this year, as domestic companies and banks repatriate large volumes of foreign currency, a senior official said in remarks published on Monday.
