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China insurance mogul said unable to work, reported detained

BEIJING (AP) -- The Chinese insurer that owns New York City's Waldorf Astoria Hotel said Wednesday its chairman has turned over his duties to other executives following a report he was detained by regulators amid accusations of possible financial misconduct.Anbang Insurance Group Ltd. Chai...

Updated : 2017.06.14 19:45

Trump sued over business benefits

WASHINGTON (AFP) -- Maryland and Washington sued President Donald Trump Monday, saying he is violating laws by raking in money from foreign governments and businesses at his luxury hotels and office t...

Updated : 2017.06.13 15:17

[Graphic News] China top Asian country in hydropower production

Hydroelectric power is China’s largest renewable energy source and its second overall, trailing only coal. The country is adding more new installed hydropower capacity than the rest of the Asia combi...

Updated : 2017.06.11 18:15

ECB hints at end to easy money policy

The European Central Bank on Thursday signalled greater confidence in the eurozone economy, as it took what analysts describe as a tentative step towards an exit from its easy-money policy.Policymakers meeting in Estonian capital Tallinn decided to keep the bank's main refinancing rate at ...

Updated : 2017.06.08 21:49

Japan’s ultralow jobless rate masks grim reality

TOKYO (AFP) -- Japanese employers are scrambling to find staff, unemployment is at its lowest level in more than two decades and the labor market is tighter than it was during Japan’s booming bubble ...

Updated : 2017.05.31 18:25

China says considering tighter controls on yuan currency

SHANGHAI (AFP) - China said Friday it is considering a change to its mechanism for managing its currency to buffer it against market forces, in an apparent step back from liberalisation pledges.The potential new system would introduce a "counter-cyclical factor" to China's current system ...

Updated : 2017.05.26 21:53

US growth in Q1 revised up to 1.2 pct. but still weak

WASHINGTON (AP) -- The U.S. economy started 2017 out with a whimper, but it wasn't quite as weak as first thought. The government revised up its January-March growth reading to a rate of 1.2 percent --  better than an earlier estimate of 0.7 percent but well below President Donald Trump's...

Updated : 2017.05.26 21:40

With Macron win confirmed, European market rally hits pause

LONDON (AP) -- When Emmanuel Macron topped the first round of voting in the French presidential election two weeks ago, French stocks soared to near-decade highs. On Monday, the reaction to his victory in the runoff was decidedly subdued: investors had been fully expecting it and seem wa...

Updated : 2017.05.08 19:30

[Graphic News] Tablet market extends slide as consumer habits shift

IDC reported an 8.5 percent drop in global tablet shipments to 36.2 million. This was the 10th straight quarterly decline for tablets.Apple led the market with a 24.6 percent share in the first quarte...

Updated : 2017.05.08 18:17

Fitch cuts S. Africa's credit rating to 'junk'

JOHANNESBURG (AFP) -- Ratings agency Fitch said Friday it had cut South Africa's credit rating to junk status, citing the recent political instability prompted by a controversial cabinet reshuffle.The agency downgraded the country's sovereign debt rating from 'BBB-' to 'BB+' but kept the ...

Updated : 2017.04.07 21:29

China to create new economic zone outside Beijing

BEIJING -- China will create a new special economic zone outside Beijing similar to those established in Shenzhen and Shanghai, the government said, in a bid to boost flagging growth and reduce the strain on the capital.The Xiongan New Area, located some 100 kilometres (62 miles) southwest...

Updated : 2017.04.02 20:49

Stock markets, pound subdued as UK triggers Brexit request

World stock markets were subdued Wednesday as Britain triggered the start of its exit from the European Union, a formal step that kicks off two years of negotiations that will have wide-ranging consequences for business in the region.Britain's FTSE 100 was faring worst in Europe, dropping ...

Updated : 2017.03.29 21:35

ECB says 'optimistic' for global deal on bank rules

FRANKFURT (AFP) - Regulators at the European Central Bank said Monday they are "optimistic" that talks on harmonising rules for banks around the world will soon end in a deal.The so-called "Basel III" round of banking talks has stalled in recent months as negotiators battle over questions ...

Updated : 2017.03.27 19:48

European regulators clear Dow Chemical-DuPont merger

BRUSSELS (AFP) -- The EU on Monday approved a $130 billion mega-merger of US agri-chemicals giants Dow Chemical and DuPont, paving the way for major consolidation in a sensitive sector for farmers and the environment.The decision by antitrust regulators was subject to Dupont selling "major...

Updated : 2017.03.27 19:38

Fed rate hike is likely after a robust February jobs report

WASHINGTON (AP) -- A second straight month of robust hiring pointed on Friday to a US economy healthy enough for the Federal Reserve to raise interest rates next week and to signal the likelihood of a...

Updated : 2017.03.11 14:32