The dollar continued to rally in Wednesday mid-day trading New York time after Chinese authorities announced ahead of the Asian trading session that banks will slow lending for 2010.
U.S. stocks were having their worst day of 2010 on Wednesday as lending restrictions in China worried investors about the global economic recovery, while a conservative outlook from IBM weighed down technology shares.
U.S. stocks extended losses on Wednesday as investors pummeled technology shares, sending the Nasdaq down more than 2 percent following IBM's disappointing outlook.
Oil slipped below $78 a barrel on Wednesday on fresh evidence of tightening credit policy in China, a stronger dollar and expectations that U.S. refiners processed less crude in the latest week.
U.S. stocks were poised for a lower open on Wednesday on reports of bank lending restrictions in China and as quarterly results from three big U.S. banks raised uneasiness about the state of the sector.
Top European carmaker Volkswagen plans to build its fifth plant in China along with its Chinese partner, with an initial annual production capacity of at least 200,000 units, the 21th Century Business Herald said on Wednesday.
Its history is peppered with cloak-and-dagger stories which fostered a reputation for winning technology by hook or by crook. But today Huawei Technologies' disciplined growth strategy is a beacon to many emerging markets firms.
China punished some banks, including Bank of China , for lending too much, after a surge in new loans this year increased inflationary pressures, sources said on Wednesday citing central bank figures.
U.S. stock index futures fell on Wednesday on reports of bank lending restrictions in China and as quarterly results from a host of U.S. banks increased uneasiness about the state of financial companies.
U.S. stock index futures fell on Wednesday on reports of bank lending restrictions in China as earnings reports from a host of U.S. banks increased uneasiness about the state of financial companies.
Chinese authorities ordered some big banks to curb lending for the rest of January, intensifying their efforts to prevent the world's third-largest economy from overheating.
Taiwan President Ma Ying-jeou will make two stops in the United States next week during a trip to take aid to earthquake-hit Haiti, officials said on Wednesday, a move likely to anger political rival China.
In the autumn of 1998, computer science engineer Li Yanhong developed Rankdex, an experimental search engine that ranked websites according to their relevance to each other.
China's top search engine, Baidu Inc (BIDU.O), filed a lawsuit against its U.S.-based domain name service provider on Wednesday after a cyber attack interrupted its web services last week.
Oil extended losses toward $78 a barrel on Wednesday on tighter credit policy in China, a stronger dollar and expectations that U.S. refiners processed less crude.
Stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.38 percent, Dow Jones futures down 0.37 percent and Nasdaq 100 futures down 0.48 percent at 1018 GMT (5:18 a.m. EST).
Stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.38 percent, Dow Jones futures down 0.37 percent and Nasdaq 100 futures down 0.48 percent at 1018 GMT (5:18 a.m. EST).
Economic freedoms were sharply reduced last year on massive spending and bailouts during the financial crisis, a trend that could imperil future economic prospects, the U.S.-based Heritage Foundation said on Wednesday.
World stocks slipped on Wednesday after reports of bank lending restrictions in China, while the euro hit a five-month low against a broadly stronger dollar with concerns about Greece's fiscal problems nagging investors.
The United States has had multiple meetings with Chinese authorities over Internet freedom and will have more in the coming days, a top State Department official said on Tuesday amid continuing tensions between Google and Beijing.
The euro fell to a five-month low against the dollar on Wednesday as investors seized on Greece's fiscal woes to drive the currency below key support, while shares in China were hit by reports of bank lending restrictions.
Oil extended losses toward $78 a barrel on Wednesday on tighter credit policy in China, a stronger dollar and expectations that U.S. refiners processed less crude.
