Geely founder Li Shufu, China's Henry Ford, looks set to rewrite the automotive history books this weekend with the purchase of Ford's Volvo car unit, which would be China's largest offshore auto deal.
U.S. carmaker Ford Motor Co looks set to sign the deal to sell its Swedish Volvo unit to China's Geely on Sunday, in what would be the largest-ever purchase of a foreign automaker by a Chinese counterpart.
China reaffirmed its determination on Friday to keep the yuan steady, rejecting U.S. arguments that a stronger exchange rate is needed to help iron out global trade imbalances.
Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rose 0.2 to 0.3 percent, pointing to a firmer start on Wall Street on Friday.
China could move again to greater flexibility in its currency regime but needs to take domestic factors such as employment into account when deciding whether to do so, a central bank adviser said in remarks published on Friday. In an op-ed article titled Toying with yuan won't help us, Fan Gang, the only academic member of the People's Bank of China's monetary policy committee, wrote that a rise in the currency itself was not a solution for U.S. economic problems, including employment.
The United States urgently needs to invest more in nanotechnology if it is to maintain its global lead in the emerging field, according to a report issued on Thursday to U.S. President Barack Obama.
Royal Dutch Shell of the Netherlands and China's China National Petroleum Corp have announced a 30-year deal to jointly develop and produce natural gas in China's Sichuan basin. The deal announced today by Shell, reveals close ties that the Anglo Dutch major has fostered with China's state-owned oil majors and comes close on the heels of Shell teaming up with PetroChina in sealing the acquisition for Australia's coal seam gas producer Arrow Energy yesterday for A$3.5 billion.
Best Buy beat Wall Street's view for profit and sales in its holiday quarter and forecast stronger-than-expected earnings in the current year as demand for electronics resurged in an improving economy.
Australia said on Thursday it had been told by China that the verdict in the trial of four Rio Tinto executives charged with bribery and stealing commercial secrets will be handed down on Monday.
Toyota Motor Corp said on Thursday it is studying plans to reorganize its domestic manufacturing operations to consolidate production of similar vehicles regardless of brands across its group companies.
A senior Chinese central banker on Thursday played down the need for an imminent rise in borrowing costs to keep a balance between growth and inflation in the world's third-largest economy.
The euro fell to a new 10-month low against the dollar on Thursday as Portugal's credit downgrade added to worries about debt in Greece and elsewhere in Europe, hitting riskier assets such as shares and commodities.
Internet domain company GoDaddy.com said it planned to stop registering domain names in China, joining Google Inc in protesting cyber attacks and censorship in that country.
World number three PC maker Dell expects revenues in China, its second largest market, to near $5 billion this year, chief executive Michael Dell said after launching a services business in the country.
General Motors unveiled a new electric concept car in China on Wednesday , aiming to burnish its image as a supplier of non-polluting cars tailored to the crowded mega-cities of the future.
Two days after shutting its Chinese portal over censorship, Google Inc said it plans to phase out deals to provide filtered search services to other online or mobile firms in China.
Chinese imports of refined copper increased by 12% in February, 2010 over a month earlier as the inbound shipments kept rising on the back of improved demand and steadily falling scrap supplies. Analsts believed that copper prices may get a boost on the increased imports by China.
Gold prices look well supported at $1100 and will hit its record high of $1,227 by mid-year and $1500 by year-end, according to Jeffrey Nichols, precious metals economist and Senior Economic Advisor to Rosland Capital.. However, the market will experience continued volatility with big swings in both direction around an upward trend this year and beyond, he added.
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The trial of four Rio Tinto executives ended in Shanghai on Wednesday, with three contesting charges of stealing commercial secrets in a case that has highlighted China's sensitivities over its rich steel sector.
Bank of America Corp is keen to expand in China, Chief Executive Brian Moynihan said on Wednesday.
General Motors Wednesday unveiled a new concept car that it hopes will solidify its position in electric vehicles, not least in China, the world's biggest auto market.
