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China regulators face off on GM Hummer deal

As a decision looms over GM's controversial plan to sell its Hummer unit to a little-known Chinese firm, the two Chinese regulators in charge of approving the deal seem to be on opposite sides of the road.

Daily Outlook - July 14 - Energy

U.S. Energy Secretary Steven Chu and Commerce Secretary Gary Locke arrive to China to stay through July 17 to highlight the potential for mutually beneficial relationships in the clean energy sector.

U.S. to press China on tariffs on clean energy trade

The United States will press China this week to lower its tariffs on clean energy technology as one of many steps the two countries can take to fight global warming, U.S. officials said on Monday.

Solar star Q-Cells warns on sales, sector shares hit

Q-Cells SE, the world's biggest maker of solar cells, withdrew its full-year sales outlook and said it saw no signs of an upturn, in a surprise move that sent shares across the sector lower.

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Wrap up - July 13 - Energy

The average price of gasoline fell to $2.5573 a gallon. A consortium of 12 companies outlined a massive solar project in North Africa called Desertec which aims to provide 15 percent of the energy needed in Europe by 2050. Chinese Suntech Power Holdings Co. Ltd said today it reached agreements to develop four solar power facilities in China

Will Chinese yuan threaten dollars?

As US dollar's role as international currency was questioned over the global financial crisis, China began its long-awaited initiative to trade with yuan as a step toward reducing China's reliance on the dollar.

Stakes raised in German auto industry talks

RHJ International (RHJI.BR) declared its interest in Opel on Monday and Qatar looked to be moving closer to a 7 billion euro bailout of Porsche (PSHG_p.DE), raising the stakes in the battles for control of both German carmakers.

EU plans to sign $100 bln S.Korea trade pact in '09

The European Union plans to finalise a $100 billion trade pact with South Korea by the end of the year, the prime minister of EU president Sweden said on Monday.

Stimulus packages spur Philips recovery hopes

Philips Electronics, Europe's biggest consumer electronics maker, said some of its key markets are primed for an upturn in sales, though any growth this year would likely be driven by government spending programs.

Ford aims at Asian small car market with Thai venture

Ford Motor (F.N) launched a new $500 million passenger car plant in southeast Thailand on Monday, a move aimed at raising its share of a lucrative small car segment in Asia dominated by Japanese firms.

China's rise to create truly global auto market

In the century since Henry Ford rolled out his first Model T -- the world's first mass-produced, affordable car -- in 1908, America has been the world's No. 1 auto market.

Two shot dead in renewed unrest in China's Xinjiang

Chinese police shot dead two people on Monday in renewed unrest in the far northwestern region of Xinjiang, state media said, after at least 184 people died in riots last week.

North Korea's leader Kim Jong has terminal pancreatic cancer: report

North Korean leader Kim Jong II, 67, has life-threatening pancreatic cancer, according to Seoul's YTN television, the British newspaper Guardian reported on Monday.

China Eastern buys Shanghai Airlines, shares soar

China Eastern Airlines said it will acquire rival Shanghai Airlines, a 9 billion yuan deal ($1.3 billion) which will create a newly capitalized carrier with more than half the air business in China's financial hub.

Geithner to reassure Gulf allies on dollar assets

Treasury Secretary Timothy Geithner will seek to reassure Gulf Arab states this week that U.S. dollar assets they hold in large quantities remain a strong investment.

Australia pushes China on Rio Tinto detentions

Australia summoned China's ambassador on Monday for a second time to press for details of the detention of Rio Tinto's top iron ore salesman in China and three other staff accused of spying.

Belgium's RHJ in advanced talks to buy Opel

Belgian holding company RHJ International said on Monday it was in advanced talks to buy a majority stake in General Motors Corp's European unit Opel.

Asian shares hit by earnings worries, yen firm

Asian shares fell 2.6 percent on Monday, with Japan's Nikkei down for a ninth straight day, as concerns about company earnings outlooks weighed, while oil languished near a six-week low as faith in a rapid economic recovery faded.

Rio arrests reflect Beijing financial jitters

China's arrest of Rio Tinto staff for spying points to economic worries in Beijing, a security analyst said, and an Australian newspaper reported China's president endorsed the Rio investigation.

Oil falls below $59 as economic worries linger

Oil prices fell $1 to below $59 a barrel on Monday, extending last week's losses to languish at a seven-week low, as lingering concerns about the pace of a global economic recovery encouraged a further sell-off.

Oil falls below $60, economic, demand worries linger

Oil prices fell below $60 a barrel on Monday, extending last week's losses to languish at a seven-week low, as lingering concerns about the pace of a global economic recovery encouraged a further sell-off.

Nikkei down for ninth day, oil steadies at $60

Japan's Nikkei fell for a ninth straight day on Monday as concerns about company earnings outlooks weighed on Asian stocks, while oil languished near a six-week low as faith in a rapid economic recovery faded.

Oil steadies at $60, economic and demand worries linger

Oil prices steadied at just above $60 a barrel on Monday, pausing from last week's losses, amid growing concerns about the pace of a global economic recovery and its impact on world energy demand.

U.S. officials to prod China on climate change

U.S. Energy Secretary Steven Chu and Commerce Secretary Gary Locke visit their ancestral homeland this week to press China to join with the United States in stepped-up efforts to fight global warming.

Heavy security in China's Xinjiang, stability urged

An uneasy calm returned on Sunday to China's riot-hit Urumqi where 184 people died in ethnic violence a week ago, though the official tally of dead could rise, a regional official indicated.

Australia warns of risks to delay in China spy case

Australia warned China on Sunday of the risks to business confidence from the detention without charge of an Australian executive accused of stealing state secrets, and Chinese executives feared a wider purge.

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