CHINA

Australia said on Wednesday that charges against four staff from Anglo-Australian miner Rio Tinto appeared to have been downgraded after China formally arrested the men but left aside accusations they stole state secrets.

Uncertainty about the Federal Reserve's view on the U.S. economy and another sharp fall in Chinese stocks pushed equities lower across the world on Wednesday and drove lower-yielding currencies higher.

BHP Billiton Ltd/Plc , the world's largest miner, reported a 30 percent slide in annual profit excluding writedowns, its first fall in seven years, pummeled by a slump in metals prices and demand.

Applied Materials Inc , the world's largest producer of chip-making gear, said it would at least break even this quarter, thanks to new orders and deep cost cuts, sending its shares up almost 4 percent.

The Japanese yen rose broadly on Tuesday as investors bought the low-yielding currency as U.S. stocks declined and on rising risk aversion after disappointing economic data from China.

Soros Calls Bottom; Madoff Partner Charged, Cost of Using GM's Volt?

General Motors announced today that the Chevrolet Volt extended range electric car due out late 2010, would get an official EPA rating of more than 230 Miles Per Gallon in city driving. Duke Energy Corp, signed a memorandum of understanding with Chinese Huaneng Group to develop carbon capture and sequestration technologies.

China notebook of light weight and mobility took a major attraction in the market due to demand in low pricing pressure, according to market research firm DRAMeXchange on Tuesday.

Solar cell manufacturing capacity will grow 56 percent in 2009 despite weakened demand for renewable energy projects in the face of tight credit markets and a global economic recession, a report issued on Monday by research group DisplaySearch said.

Visa Inc and MasterCard Inc, the world's largest credit card networks, are counting on foreign markets for the growth that recession-bound U.S. consumers have been unable to provide.

An experimental drug developed by scientists in China appears to be effective in killing roundworms, a parasite that lurks in the intestines and which affects nearly two billion people in tropical countries.

Oil prices fell by more than $1 below $70 a barrel on Tuesday, giving up earlier gains as doubts resurfaced over the pace of economic recovery and any rise in fuel demand.

Fortescue Metals Group Ltd and China Investment Corp (CIC), China's $200 billion sovereign wealth fund, are in advanced talks on a $1 billion-plus convertible bond investment to help the Australian iron ore miner fund its expansion, two sources said on Tuesday.

Oil prices pushed above $71 a barrel on Tuesday, spurred by record fuel imports to the world's second biggest energy user China, but the market was cautious ahead of the next set of supply and demand data.

Anglo-Australian miner Rio Tinto said on Tuesday it had yet to be presented with any evidence to support the detention of four of its China-based staff on suspicions of stealing state secrets.

Oil prices crept up toward $71 a barrel on Tuesday, spurred by record fuel imports to the world's second biggest energy user China, but the market was cautious ahead of the next sets of supply and demand data.

Futures for the Dow Jones industrial average, S&P 500 and Nasdaq 100 rose 0.2-0.3 percent, pointing to a firmer start on Wall Street on Tuesday.

World stocks ticked slightly higher on Tuesday and Japan's Nikkei hit a 10-month closing high despite disappointing Chinese data that drove up the yen.

Oil rose above $71 on Tuesday, ending a three-day losing streak as record Chinese oil imports and refinery production helped offset mixed economic data, while traders anticipated key reports on the state of global demand.

Oil rose below $71 a barrel on Tuesday, ending a three-day losing streak ahead of U.S. data expected to show a fall in gasoline stocks, with weaker-than-expected Chinese economic data acting as a drag.

Australia brushed off on Tuesday a Chinese report accusing iron ore miner Rio Tinto Ltd of overcharging and spying on Chinese steel mills, saying it had not been officially sanctioned.