China raised its benchmark interest rates on Thursday for the sixth time this year, in the latest in a series of tightening steps to contain inflation and prevent the world's fourth-largest economy from overheating. However, it also lowered the rate for sight deposits, in a move to encourage savers to keep their cash locked up for longer periods.
Hong Kong stocks on Wednesday rose again as investors made more gains with oil producer PetroChina Co Ltd ending a five session fall.
Stock rose on Wednesday after Morgan Stanley said it will sell a stake to a China firm, while the Federal Reserve said it would lend $20 billion to banks to improve market liquidity.
US Stocks rose on Tuesday and stock market across the Asia-Pacific region were trading higher after investors found comfort in the European Central Bank’s $500 billion loan injection to revive demand in struggling areas of the credit market.
U.S. consumer electronics leader Best Buy Co reported a better-than-expected 52 percent jump in third-quarter profit on Tuesday on strong sales of laptops and video games, and raised its full-year earnings forecast.
Europe toned down a clash with the United States over 2020 climate goals on the final day of U.N. talks in Bali on Friday, raising hopes of a deal to start negotiations on a new global warming treaty.
The sizzling pace of Chinese capital spending barely slowed in November despite curbs on lending, showing why the authorities intend to tighten monetary policy further in 2008.
The European Union threatened on Thursday to boycott U.S. talks among top greenhouse gas emitting nations, accusing Washington of blocking goals for fighting climate change at U.N. talks in Bali.
Asian resources firms are ready to take a record share of deals but reasonable prices are hard to come by.
U.N. Secretary-General Ban Ki-moon urged the world on Wednesday to agree to work out a new climate treaty by 2009 but said it might be too ambitious to set goals for greenhouse gas cuts in Bali.
The dollar fell versus the euro on Wednesday after the previous day's quarter-point rate cut from the Federal Reserve disappointed investors hoping for more aggressive action to help the economy and credit markets.
The ceiling on foreign investment in Chinese securities will be raised to $30 billion from $10 billion, Beijing's foreign exchange regulator said on Sunday ahead of cabinet-level talks with the United States.
Investment group Blackstone is planning a counterbid for Rio Tinto Ltd/Plc with a consortium believed to include China's sovereign wealth fund, Britain's Daily Telegraph newspaper said on Monday.
Another U.S. Federal Reserve interest rate cut this week is a foregone conclusion as far as financial markets are concerned, but a heaping helping of global inflation data may leave a sour aftertaste. foregone conclusion as far as financial markets are concerned, but a heaping helping of global inflation data may leave a sour aftertaste. The Fed is widely expected to follow the central banks of Canada and England with a quarter-percentage-point reduction in the benchmark federal funds rate on Tuesday.
China's bid to end fuel shortages only a temporary cap on the problem
At Apple Inc's new store in Manhattan, the smiling geniuses and concierges standing at attention are as important as the iPods and Mac computers on display.
The chance that developing countries would accept firm emissions-cutting targets receded on Friday, as U.N.-led talks to launch negotiations on a climate pact to succeed the Kyoto Protocol inched forwards.
Dell Inc. announced on Thursday it will begin selling PCs at more than 900 Best Buy Co. Inc. stores in an attempt to gain more of the U.S. consumer market.
Coca-Cola Co said on Thursday Chief Operating Officer Muhtar Kent will succeed Neville Isdell as chief executive of the world's largest soft drink company on July 1, 2008.
The fat years may be ending for Chinese banks as bad loans increase and monetary policy tightens. After government bail-outs and reforms ended a debt crisis early this decade, bad loans could rebound because of exposure to the country's red-hot property market. But a debacle on the scale of the U.S. subprime credit crisis remains very unlikely, officials and analysts say.
Becoming mini-majors by making aggressive plans to acquire overseas oilfields and retail outlets could be a winning strategy.
Bristol-Myers Squibb Co, as part of an expected major restructuring, on Wednesday said by 2010 it would cut its work force 10 percent and slash the number of its manufacturing plants by more than half, to generate an additional $1.5 billion in savings. The company is also planning to sell its medical imaging business and reviewing strategic alternatives for its wound healing unit. Sales would bring the company cash to boost its core pharmaceuticals business.
