The U.S. dollar rebounded against the euro on Wednesday after the European Central Bank reiterated its dovish stance on monetary policy, though weaker-than-expected U.S. economic data limited the dollar's advance.
Industry
McDonald's Japan sees wider losses this year, plans restructuring
The Japanese unit of McDonald's Corp (MCD.N) forecast deeper losses this year and said it would renovate 2,000 stores while closing underperforming outlets, as it struggles to bring back customers after a series of food safety scandals.
Slack China demand on lofty prices, calm in India ahead of festival
Gold buying in the world's top two gold consuming countries remained slow this week as premiums in China improved only slightly and those in India slipped as the global benchmark stabilised at $1,200 an ounce.
China's incredible shrinking factory
Eight years ago, Pascal Lighting employed about 2,000 workers on a leafy campus in southern China. Today, the Taiwanese light manufacturer has winnowed its workforce to just 200 and leased most of its space to other companies: lamp workshops, a mobile phone maker, a logistics group, a liquor brand.
U.S. housing starts data underperforms; jobless claims rise
U.S. housing starts rose far less than expected in March and factory activity in the mid-Atlantic region grew modestly this month, suggesting the economy could struggle to rebound from a soft patch hit in the first quarter.
Latest News
China grew at its slowest pace in six years at the start of 2015 and weakness in key sectors suggested the world's second-largest economy was still losing momentum, intensifying Beijing's struggle to find the right policy mix to shore up activity.
Retail sales rose in March for the first time since November as consumers stepped up purchases of automobiles and other goods, suggesting a sharp slowdown in economic growth in the first quarter was temporary.
Australia's Fortescue Metals Group Ltd will change its roster to increase the time workers spend at mines, as the world's fourth largest iron ore producer rushes to reduce costs in the face of plunging prices for the steelmaking ingredient.
China's export sales contracted 15 percent in March, a shock outcome that deepens concern about sputtering Chinese economic growth.
Nearly a quarter of the world's major copper mines are running in the red, even after producers including Codelco [COBRE.UL] and BHP Billiton engage in their deepest cost-cutting in years, according to a Reuters analysis.
Germany's BDI industry association is more optimistic about the prospects for Europe's biggest economy than it was three months ago due to cheap oil, strong private consumption and a weak euro, its president said on Sunday.
China and Afghanistan remain deadlocked over a stalled $3 billion copper mine five months after Beijing demanded royalties be slashed by almost a half, underlining Kabul's struggles to support itself as foreign aid dries up.
Two leading Russian film directors are seeking state support to set up a domestic chain of cafes to compete with Western fast food restaurants such as McDonald's, a newspaper said on Thursday.
U.S. import prices fell in March as rising petroleum costs were offset by declining prices for other goods, a sign of muted inflation that supports the view the Federal Reserve will probably not raise interest rates in June.
