European shares extended losses on Friday, on track for their worst week of the year as a losing streak for bonds rumbled on, with wary investors anticipating more Greek debt drama and a solid U.S. payrolls reading.
Tags: China
Foxconn to build Apple iPhone plant in India
In the near future, iPhones as well as iPods and iPads may be manufactured in India. The main manufacturing partner of Apple Inc, Foxconn Technology is said to be in talks with the Indian government in order to build its manufacturing units in western Indian state of Maharashtra, according to a Reuters report.
China to extend economic diplomacy to EU infrastructure fund
China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters - Beijing's latest round of chequebook diplomacy to win greater influence.
Bullish Uber plans to invest $1 billion in China in 2015
Ride-hailing service Uber Technologies Inc plans to invest more than $1 billion in China this year as the controversial ride-hailing app looks to rev up growth in the world's second largest economy, an executive at the firm said on Friday.
China vehicle sales fall again in May, showing weakness
Vehicle sales in China fell for a second straight month in May, the first such consecutive drop since late 2011, highlighting the weakness in the world's second biggest economy.
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German debt yields added to their biggest jump in almost three years and the euro held on to its gains on Wednesday, as investors waited to hear the ECB's view of a turbulent run for markets and its hopes for a Greek aid deal.
China's economic growth, already at its slowest in decades, will get worse before it gets better, as economists say it will take time before liberalizing reforms turn net positive, and Beijing needs to bite more such bullets for a sustainable turnaround.
It may be impossible for the Federal Reserve to raise interest rates until the rest of the world economy improves, Fed board member Lael Brainard said on Tuesday, in the most direct acknowledgement yet of how weak global markets could handcuff the U.S. central bank.
A trial program allowing unauthorized dealers to sell imported cars will be extended to the northern city of Tianjin, China's state media said on Sunday, as the government moves to rein in high-end car prices.
Years of uncertainty and economic pain spent keeping Greece in the euro zone boils down in June to a handful of make-or-break debt repayments, while a raft of key data in the next few days will point to the progress of the global economy.
Prime Minister Modi ramped up spending on roads, railways and rural infrastructure in April to boost economic growth, after $19 billion in cuts brought public investment shuddering to a halt at the end of the last fiscal year.
Former Federal Reserve Chairman Ben Bernanke said that China's economic slowdown should not worry markets as there was no risk of a hard landing, and emphasized that a move to raise U.S. rates should be viewed as a positive sign for the world's largest economy.
Greece's financial crisis and signs of growing opposition to austerity in Spain sent the euro to its lowest level in a month on Tuesday, while shares and commodities took a knock as the dollar powered higher.
UBS is seeking to offload its private bank in Australia to the unit's management following a review of underperforming businesses at the Swiss bank, a source with direct knowledge of the matter told Reuters on Monday.
