Japan is split over joining a China-led development bank, concerned about missing out on the rapidly coalescing global movement for the institution while also worried about alienating ally United States and helping bolster rival China, officials said.
Sectors
Austrian finance minister sees lack of trust in Greece
Greece must cooperate with international creditors and boost confidence among its euro zone partners about economic reforms, Austrian Finance Minister Hans Joerg Schelling said in a radio interview, adding a lack of trust was a major problem.
Germany's SPD won't back down in U.S. trade talks
Germany's economy minister has promised to block any clauses in a trade deal between the European Union and the United States that go against the ideals of his center-left Social Democrats (SPD), including investor protection clauses wanted by the Americans.
What the Superdollar means for summer travel
Jane McManus can hardly believe her luck. The New York-based sportswriter for ESPN.com is planning a summer vacation with her family in Ireland.
Luxury brands hedge their bets with smartwatches
The flurry of technology deals luxury watchmakers announced this week to tackle the Apple Watch threat are more a way to hedge their bets in case the smartwatch market takes off than a strategic U-turn.
Latest News
Australia said on Friday there was a lot of merit in the China-led Asian Infrastructure Investment Bank (AIIB) while Japan's finance minister signalled cautious approval of the institution that the United States has warned against.
China will take steps to rein in possible risks from short-term local government bonds, including converting such bonds into long-term debt, the country's vice finance minister, Zhu Guangyao, said on Saturday.
The current level of China's yuan CNY=CFXS is appropriate because it reflects foreign exchange supply and demand and economic fundamentals, a top central bank researcher said on Saturday, playing down talk of suspected official intervention.
Russian President Vladimir Putin proposed on Friday creating a regional currency union with Belarus and Kazakhstan, Russia's main partners in a union of ex-Soviet states facing growing economic challenges.
Greece will receive much needed funding once it has submitted a detailed list of proposed reforms to the Eurogroup of euro zone finance ministers, its government spokesman said on Friday, as the country strives to avoid a cash crunch within weeks.
Jaguar Land Rover Ltd on Friday said it is recalling nearly 36,500 Range Rover Evoque sport utility vehicles (SUVs), after local media reported the British luxury carmaker used faulty gearboxes.
Brent crude oil fell below $54 a barrel on Friday and was on track for its third straight weekly loss, hurt by worries of rising supplies from OPEC and the United States.
Amazon.com Inc has won approval from U.S. federal regulators to test a delivery drone outdoors, as the e-commerce company pursues its goal of sending packages to customers by air, even as it faces public concern about safety and privacy.
Billionaire entrepreneur Richard Branson's Virgin Group may take on Tesla Motors Inc and other companies in developing electric cars, Bloomberg reported on Thursday.
