The Chinese ships were sighted about 49 kilometers from the island of Yonaguni, in Japan's Okinawa prefecture, according to Japan's Defense Ministry. They were about 200 kilometers from a chain of small islands that have sparked a heated dispute between Japan and China. Defense Minister Satoshi Morimoto said Japan is monitoring the ships' movement.
DETROIT-- After years of struggling in the nascent market for electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection Tuesday. The filing drew criticism from Republicans who claim the Obama administration has wasted millions of taxpayer dollars on alternative energy companies like A123.
WASHINGTON-- U.S. industrial production increased only modestly in September, held back by weak growth in factory output. That followed a 1.4 percent decline in August, which partly reflected precautionary shutdowns before Hurricane Isaac hit the Gulf Coast.
After the estimated number of Mexicans visiting the city nearly doubled in six years, tourism arm NYC& Co. is ramping up its presence in Mexico City, part of its series of far-flung tourism offices. "We want to be visible and make sure we're top of mind" to Mexican travelers, NYC& Co. chief executive George Fertitta said.
"It's just way too much," says Scot French, a history professor at the University of Central Florida. He lives along the swing-voting Interstate 4 corridor that will play an important role in deciding whether President Barack Obama or Mitt Romney wins the state, and perhaps the White House.
China’s economic downturn represents the beginning of a "new normal" investors will have to adjust to, Dr. Wang Qing of the China International Corporation told CNBC on Tuesday.
CNBC's Ross Westgate has the update on overseas markets, with banks leading the gainers.
LONDON-- Mounting hopes over the U.S. economic recovery bolstered markets for a second day on Tuesday and helped push the euro back above $1.30. Strong earnings figures from the likes of toy maker Mattel, Johnson& Johnson and Goldman Sachs, further buoyed sentiment.
HONG KONG-- World stock markets were lifted Tuesday by better data on the U.S. economy and a report showing improving investor confidence in Germany. In early European trading, Germany's DAX rose 0.6 percent to 7,308.01 and France's CAC 40 gained 0.5 percent to 3,426.48.
TAIPEI, Taiwan-- A Hong Kong media magnate highly critical of China is selling one of his Taiwanese companies to a group headed by a local businessman whose family has substantial interests on the mainland.
BATUMI, Georgia-- Georgia's Black Sea resort of Batumi was once a bleak site: Roads were dotted with potholes, the city was pitch dark at night, running water was scarce and the city's best hotel was infested with rats.
Dr. Wang Qing, managing director and deputy head of Investment Banking Dep at CICC, tells CNBC, that the new normal of Chinese economy will feature slower growth, higher inflation and profound change of economic structure.
Japan's Nikkei 225 index rose 1.3 percent to 8,689.29 and South Korea's Kospi climbed 0.9 percent to 1,941.45. Benchmarks in Taiwan, Singapore, and New Zealand also rose. Toshiba Corp. jumped 2.7 percent and Sony Corp. rose 1.5 percent in Tokyo, where exporters were also aided by a slightly weaker yen.
Royal Bank of Scotland has suspended its head of rates trading in Europe and Asia Pacific, the most senior employee to be put on leave so far as the bank investigates its alleged role in the interbank lending rate scandals. The FT reports.
Recent economic data such as stronger-than-expected exports and benign inflation in September are the latest signs that China’s slowdown may be nearing an end, reducing pressure on the government to implement more stimulus measures to shore up the world’s second-biggest economy.
Japan's Nikkei 225 index rose 0.9 percent to 8,658.82 and South Korea's Kospi climbed 0.4 percent to 1,932.78. Electronics company Toshiba Corp. rose 1.9 percent in Tokyo while Samsung Electronics Co. rose 1.7 percent in Seoul.
Aadil Ebrahim, Managing Director of Bowen Asia says infrastructure stocks are weighing down the Shanghai Composite due to the slowing Chinese economy.
Welf Ebeling, Asia Regional Director of the Global Business Travel Association says that China's business travel is expected to continue its strong growth despite a slowdown in the economy.
Pu Yonghao, Regional CIO, APAC, UBS Wealth Management describes the shift in and consumption patterns across China's super rich and mass market populations.
Timothy Ross, Head of Asia Pacific Transport Research, Credit Suisse says that traffic to Japan from China has taken a hit amid the island spat between the two countries.