Taiwan's Foxconn Technology Group, the world's largest contract electronics manufacturer, will cut its massive workforce, the company told Reuters, as the Apple Inc (AAPL.O) supplier faces declining revenue growth and rising wages in China.
Country
S&P downgrades Russia's sovereign credit rating to 'junk'
Ratings agency S&P cut Russia's sovereign credit rating to junk status on Monday, bringing it below investment grade for the first time in a decade.
Petrobras may book $20 billion asset write-down: Veja magazine blog
Brazilian state-controlled oil company Petróleo Brasileiro SA could take a charge of about 52 billion reais ($20 billion) in its delayed third-quarter results to reduce the value of some assets, a Veja magazine blog said on Monday.
AT&T to buy NII Holdings' wireless business in Mexico
AT&T Inc (T.N) said on Monday it would buy bankrupt NII Holdings Inc's (NIHDQ.PK) wireless business in Mexico for $1.875 billion in a move to create a larger Mexican wireless player that will have a better chance of competing with No. 1 America Movil (AMXL.MX).
'Frozen' heats up Japan box office in 2014
Japanese cinemas rang up a healthy rise in ticket sales in 2014 as blockbuster animation film "Frozen" eclipsed an otherwise lackluster show by Hollywood, industry data showed on Tuesday.
Latest News
Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages, caught in a struggle between the rival governments there and threatened by air attacks.
Euro zone finance ministers said they were ready to work with the new anti-bailout government Greek government, but warned the country that its deep economic problems had not changed because of an election, the chairman of the ministers said on Monday.
German Finance Minister Wolfgang Schaeuble said on Monday Greece's leader Alexis Tsipras would have to "find a different way" to solve Greece's problems if he says he does not want money from the euro zone bailout program.
Investigators at German financial watchdog Bafin have not discovered any signs of systemic efforts to manipulate currency benchmarks, rather, only individual efforts, banking supervisory head Raimund Roeseler said in a newspaper interview on Tuesday.
Britain's economy recorded its fastest annual growth since 2007 last year despite a bigger-than-expected slowdown in the final three months of 2014, giving a mixed message just 100 days before Britons go to the polls.
Oil gave up early gains with Brent futures slipping below $48 on Tuesday as a stronger dollar weighed, offsetting comments from producer group OPEC that prices may have found a floor.
Most Asian share markets firmed on Tuesday and the euro clung to rare gains, relieved that European equities had weathered Greece's election outcome without too much disruption.
The Obama administration on Monday unveiled an ambitious plan to control health costs by moving the $2.9 trillion U.S. health systems away from costly fee-for-service medicine, beginning with the Medicare program for the elderly and disabled.
U.S. President Barack Obama ended a landmark day in India on Monday with a pledge of $4 billion in investments and loans, seeking to release what he called the "untapped potential" of a business and strategic partnership between the world's largest democracies.
