Chinese bankers welcomed Beijing's decision to cut the level of reserves they must hold, hoping they can put the freed-up cash to profitable use, but struggling Chinese companies hoping it will mean more and cheaper loans are likely to be disappointed.
Regions
Dollar edges up before U.S. jobs, wages data
The dollar edged up against a basket of currencies on Friday as investors looked to U.S. jobs and wages data later in the day for further clues as to when the Federal Reserve might raise interest rates.
In oil price war, Gulf producers grab market share in Asia
Saudi Arabia's move to slash the price it charges in Asia for its oil this week to the lowest in more than a decade is the latest aggressive action by Gulf states to defend market share in the world's top oil consuming region.
Pfizer to buy Hospira for $15 billion to bolster hospital products
Pfizer Inc (PFE.N) said it would buy Hospira Inc (HSP.N) for about $15 billion to boost its portfolio of generic injectable drugs and copies of biotech medicines.
Union rejects sixth refinery offer from Shell; talks next week
Union leaders rejected a sixth contract offer Royal Dutch Shell Plc made to U.S. refinery workers, and a pause in negotiations was called Thursday on the fifth day of a strike, though talks are set to resume next week.
Latest News
Crude oil prices rose as much as $1 on Friday, continuing a rebound from near six-year lows plumbed last week, but rising global inventories and steady OPEC supply will likely cap gains.
News Corp (NWSA.O), owner of the Wall Street Journal and HarperCollins, reported quarterly revenue and a profit just above analysts' consensus forecast as its book publishing and real estate businesses offset dwindling print revenue.
Asian shares edged higher in early trade on Friday and oil prices continued to rebound, even as investors remained wary ahead of the key U.S. nonfarm payrolls report for January later in the session.
Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder.
Ireland's finance minister said on Wednesday Goldman Sachs (GS.N) is advising the Irish state free of charge on the sale of one of its banks in order to boost its reputation and was one of five investment banks to offer to work pro bono.
Greek borrowing costs leapt and bank shares were hit hard on Thursday after the European Central Bank abruptly pulled the plug on its funding for the country's financial sector in what Athens labelled an act of coercion.
A global deal to curb carbon emissions must recognize each country's right to develop, France's foreign minister said in New Delhi on Thursday, as the host of this year's U.N. climate change talks seeks to win India's backing for a global deal.
Germany wants Greece's new left-wing government to go back on anti-austerity promises made in its first days in office and revert to economic policies its predecessors' agreed with international lenders, a document showed on Wednesday.
BT (BT.L) finalised a deal on Thursday to buy mobile operator EE for 12.5 billion pounds ($19 billion) and now faces a contested approval process to seal its status as Britain's dominant communications company.
