Allowing local governments to issue bonds directly is a step forward in China's efforts to reform the economy, says Matthew Circosta, Economist at Moody's Analytics.» Read More
CHICAGO, Sept 2- OSI Group, the U.S.-based supplier at the center of a food safety scandal in China, has handed control of one of its plants there indefinitely to a subsidiary of competitor Golden State Foods Corp, a Golden State spokeswoman said on Tuesday.
NEW YORK— Squeezed into tighter and tighter spaces, airline passengers appear to be rebelling, taking their frustrations out on other fliers. Airlines today are juggling terror warnings in Britain, the Ebola outbreak in Africa and an Icelandic volcano erupting and threatening to close down European airspace.
OTTAWA, Sept 2- Senior officials from Canada and China met quietly in Ottawa last week to discuss relations that have deteriorated so badly that they could threaten Prime Minister Stephen Harper's planned visit to China in November.
ST. CHARLES, Mo.— A man who persuaded a rural Missouri town and the state to invest millions in bonds and incentives for an artificial sweetener plant that never materialized pleaded guilty Tuesday to three felony charges.
NEW YORK— McDonald's said it will monitor its suppliers in China more closely after a food-safety scandal in the country hurt the hamburger chain's sales and reputation. McDonald's, based in Oak Brook, Illinois, reported a 7.3 percent drop in July sales at its restaurants in Asia, the Middle East and Africa.
The International Copper Study Group's most recent monthly update assessed the global refined copper market as being in a 450,000- tonne deficit in the first five months of the year, or a 308,000- tonne deficit once movements in Shanghai bonded stocks are factored into the equation.
McDonald's will increase the number of audits it conducts of suppliers in China, after a food scandal in July dented China sales.
LONDON, Sept 2- Zinc rose to a four-week high and aluminium neared an 18- month peak on Tuesday in markets driven by momentum-based speculators and computer-driven funds. Three-month zinc on the London Metal Exchange gained 1 percent to $2,380.50 a tonne by 1022 GMT, a high since Aug. 5.
BEIJING— More than 60 percent of China's vast shale gas deposits are in regions with scarce water resources, complicating plans by the energy-hungry country to tap the natural gas, according to a U.S.-based research group.
SYDNEY, Sept 2- London aluminum climbed close to an 18- month high on Tuesday, sending Shanghai futures up more than two percent in a rally that traders and analysts said appeared momentum driven and had overshot fundamentals.
The American Chamber of Commerce in China is the latest business lobby to air its grievances over a series of investigations scrutinizing at least 30 foreign firms, as China seeks to enforce a 2008 anti-monopoly law.
HONG KONG, Sept 2- Shanghai shares closed at their highest in 15 months on Tuesday as investors bet funds freed from last week's initial public offering subscriptions, selecting stocks expected to benefit from state firm reforms and the coming equity link between Shanghai and Hong Kong.
SEOUL, Sept 2- South Korea has delayed a proposed tax on vehicle carbon emissions by over five years to the end of 2020, amid pressure from domestic and U.S. car makers who fear the levy would curb sales.
BEIJING— Foreign companies in China feel increasingly targeted for unfair enforcement of anti-monopoly and other laws and might cut investment if conditions fail to improve, a U.S. business group said Tuesday.
*HSBC slips after UK fund manager dumps shares. HONG KONG, Sept 2- Hong Kong shares fell to three-week lows on Tuesday weighed down by profit-taking, while the Chinese onshore markets eked out slim gains thanks to outperforming port and liquor stocks.
BEIJING— An American business group warned Tuesday that foreign companies in China feel increasingly targeted for unfair enforcement of anti-monopoly and other laws and said investment might decline if conditions fail to improve.
Gillem Tulloch, Founder of GMT Research, discusses Beijing's anti-graft drive and its impact on economic growth. He later explains his negative outlook on Chinese stocks.
With Beijing unlikely to accede to activists' demands, the threat of escalation could undermine Hong Kong's pro-business economy, says Gillem Tulloch, Founder of GMT Research.
*Escalating crisis in Ukraine, patchy Chinese recovery weigh. BANGALORE/ SYDNEY, Sept 1- Factory activity in Europe and Asia cooled in August after a strong July, as new orders dwindled in the face of escalating tensions in Ukraine and a patchy recovery in China, purchasing managers indexes showed.
LONDON, Sept 1- Copper prices slipped on Monday, pressured by weak factory data from China that raised concerns about the outlook for demand from the world's top metals consumer. Volumes were expected to remain subdued as markets in the United States were shut for the Labor Day holiday.