China overtook the United States as the world's top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets.
Tags: United States
Nissan sees profit gains on vehicle sales growth, cost cuts
Nissan Motor Co (7201.T), Japan's second-biggest automaker, said it expects operating profit to climb 15 percent this financial year, forecasting vehicle sales growth in most regions and promising large cost cuts.
Weak retail sales dampen sharp Q2 growth rebound hopes
U.S. retail sales were flat in April as households cut back on purchases of automobiles and other big-ticket items, the latest sign the economy was struggling to rebound strongly after barely growing in the first quarter.
Japan's three top carmakers to expand Takata air bag recalls by millions
Japan's three biggest carmakers said on Wednesday they would expand a huge global recall triggered by potentially fatal air bags made by Takata Corp, saying they were taking back millions of vehicles worldwide for investigation.
Fed said to have debt ceiling plan involving market interventions
The Federal Reserve drew together extensive plans for handling a U.S. debt default that included scheduling deferred payments and lending cash to investors, according to a top lawmaker who cited Fed documents.
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With optimism building that the United States is already recovering smartly from another horrible start to the year, focus will shift this week to reports that may show the euro zone is finally shaking off half a decade of torpor.
Japan's Takata Corp (7312.T) said it expects to return to profit this financial year on higher Asian and U.S. sales, but the troubled company made few provisions for possible costs related to a massive global recall of its exploding air bags.
China's Tiens Group Co. Ltd is treating more than half of its 12,000 employees to a four-day holiday in France and has booked up 140 hotels in the capital Paris as part of the package, a French Foreign Ministry spokeswoman said on Thursday.
China's exports unexpectedly fell 6.4 percent in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2 percent, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown.
Emmeryville, a small city in the San Francisco Bay Area, has given initial approval to the nation's highest minimum wage by setting baseline pay at $16 an hour in 2019, with gradual increases leading up to that level.
Hong Kong's financial watchdog is set to finalize new rules on so-called "dark pools" within the next few days, a source familiar with the regulator's thinking said on Thursday.
A surge in imports lifted the U.S. trade deficit in March to its highest level in nearly 6-1/2 years, suggesting the economy contracted in the first quarter.
A holiday in most of Europe thinned trade on Friday after a tumultuous week when the dollar dove, bond yields soared and stock markets in Europe and the United States weakened.
Ford Motor Co (F.N) said on Wednesday it is recalling more than 591,000 vehicles in North America for four separate problems, including possible broken bolts that could make steering more difficult.
