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  • Coal production drops in China for 1st time in 14 years Saturday, 24 Jan 2015 | 12:07 AM ET

    BEIJING— China recorded its first drop in coal production since 2000 last year, as the world's biggest greenhouse gas emitter pulls back on its use of the fossil fuel and switches to cleaner energy sources. According to the country's national coal association, China produced 3.5 billion tons of coal in the first 11 months of 2014, 2.1 percent less than the same...

  • Cooperation in Washington DOA? Not so fast Friday, 23 Jan 2015 | 10:36 AM ET
    Speaker of the House John Boehner (R) listens to President Barack Obama deliver the State of the Union address on January 20, 2015 in the House Chamber of the U.S. Capitol in Washington, DC.

    Many pundits have written off cooperation between Obama and the GOP-controlled Congress. But not so fast, says Scott Paul.

  • *Euro slumps towards $1.11 to 11- year low, bond yields reach new lows. LONDON, Jan 23- The European Central Bank's plan to pump out about 1 trillion euros to revive the euro zone economy put stocks in the region on track for their best week since 2011 but hammered the shared currency. Oil prices rose on hopes for a boost to global growth from the ECB's landmark move,...

  • DAVOS, Switzerland, Jan 23- Jack Ma, executive chairman of Chinese e-commerce giant Alibaba Group Holding, isn't worried about slowing Chinese economic growth, he told a meeting of business and political leaders in Davos, Switzerland. China should pay attention to the quality of the economy, "he said in a question-and-answer session at the World Economic Forum.

  • *China factory activity contracts for 2nd month. LONDON/ BEIJING, Jan 23- Businesses across Asia and Europe have slashed prices at the start of the year to drum up trade, surveys showed on Friday, vindicating the European Central Bank's decision to print money in a bid to revive inflation. Euro zone firms cut prices at the fastest rate in nearly five years and Chinese...

  • BEIJING— Chinese police said Friday they've arrested five people in connection with a phony bank that used bogus offices and tellers to bilk depositors out of $32 million. More than 200 customers were caught up in the scam based in the eastern city of Nanjing, according to a statement on the local police's microblog. Most were business owners from the...

  • HONG KONG, Jan 23- Troubled Chinese property firm Kaisa Group is talking to banks and rival developers about selling its assets as the company scrambles to raise cash, according to people with knowledge of the matter. The Wall Street Journal reported on Friday that developers speaking to Kaisa include China Vanke and Shenzhen Overseas Chinese Town.

  • SHANGHAI, Jan 23- China's yuan posted its biggest single-day loss since Dec. 8 on Friday after the central bank set a weaker midpoint in response to the fresh round of quantitative easing announced by the European Central Bank announced a day earlier. The People's Bank of China set the midpoint rate at 6.1342 per dollar prior to market open, weaker than the...

  • Jan 23- Hong Kong shares extended a global rally on Friday to reach their highest level in more than four months after the European Central Bank launched a landmark bond-purchasing stimulus programme to support the euro zone economy. Among the most actively traded stocks on Hong Kong's main board were China National Culture Group Ltd, up 30.1 percent at HK...

  • Chinese steel producers, including the biggest private mill Jiangsu Shagang Group, state-owned Wuhan Iron& Steel Group and Hebei province-based Tangshan Iron& Steel, are scheduling maintenance on some facilities, according to industry consultancy Custeel. "The difference this year is that in order to trim production, many mills in northern China have...

  • The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.1 percent, to 3,571.73, while the Shanghai Composite Index gained 0.3 percent, to 3,351.76 points. Among the most active stocks in Shanghai were Bank of China, unchanged at 4.84 yuan; ICBC, up 2.1 percent to 4.98 yuan and Agricultural Bank of China, up 0.3 percent to 3.74 yuan.

  • BEIJING— China is blocking VPN services that let users skirt online censorship of popular websites such as Google and Facebook amid a wider crackdown on online information, tech companies and specialists said Friday. Many foreigners in China as well as millions of Chinese depend on VPNs to connect to servers outside the country and access blocked...

  • *China factory activity contracts for 2nd month. BEIJING/ SEOUL, Jan 23- Chinese factories were forced to cut prices for the sixth straight month in January to sell their products, while economic growth in South Korea slowed sharply, raising the prospect of more policy easing from major central banks in Asia. The weak manufacturing reading from China added to...

  • China, Hong Kong stocks extend gains on policy optimism Thursday, 22 Jan 2015 | 11:56 PM ET

    SHANGHAI, Jan 23- China and Hong Kong shares were firmer by midday on Friday, propped up by rising expectations the Chinese central bank will move to ease liquidity to support the flagging economy. The Shanghai index has been notching weekly gains since early November, and is currently up 0.4 percent for the week. "The market has been rising for the past few days and...

  • *HSBC/ Markit Flash Manufacturing PMI at 49.8 in January. BEIJING, Jan 23- China's manufacturing growth stalled for the second straight month in January and companies had to cut prices at a faster clip to win new business, adding to worries about growing deflationary pressures in the economy, a private survey showed. "Today's data suggest that the manufacturing...

  • SHANGHAI, Jan 23- China's yuan weakened on Friday after the central bank fixed its midpoint 0.2 percent weaker, the biggest single-day weakening in 10 months, in response to the fresh round of quantitative easing announced by the European Central Bank overnight. The People's Bank of China set the midpoint rate at 6.1342 per dollar prior to market open, weaker...

  • HONG KONG, Jan 23- Richard Ji, whose little-known fund was the biggest investor in leading Chinese smartphone maker Xiaomi Inc's $1.1 billion fundraising last month, is a numbers man looking to spot' category killers'- start-ups with the power to disrupt. Last year's record $25 billion IPO from Alibaba Group Holding Ltd injected new life into Chinese tech...

  • BEIJING, Jan 23- China's central bank said on Friday it will maintain prudent monetary policy through timely fine-tuning. The People's Bank of China said in a statement it would seek to promote healthy economic growth, while at the same time defusing financial risks. Chinese economic growth hit a 24- year low, data showed on Tuesday, raising the question of what...

  • HSBC: 'China's not out of the woods yet'  Thursday, 22 Jan 2015 | 8:45 PM ET

    Frederic Neumann, Co-Head of Asian Economics Research at HSBC, says continued contraction in the manufacturing sector may warrant more easing from Chinese authorities.

  • SHANGHAI, Jan 23- Allegations that Chinese authorities hacked into Microsoft Corp's Outlook email service are "groundless slander", the official Xinhua news agency quoted Beijing's cyberspace regulator as saying late on Thursday. Attacks and blocks on foreign internet services have become increasingly common with China, which operates the world's most...