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.
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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 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.
Foreign direct investment (FDI) into China rose 2.2 percent on the year in March, while outbound flows posted a milder rise, as foreign corporate investors remain undeterred by China's weakening domestic economic performance.
U.S. industrial output posted its biggest drop in more than 2-1/2 years in March in part as oil and gas well drilling plummeted, highlighting the negative impact of lower crude prices and a strong dollar on the economy.
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.
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.
