For the past year, the turmoil in energy markets has been the biggest event in global financial markets, says David Mann, chief economist, Asia at Standard Chartered Bank.» Read More
The dollar fell to a record low against the euro Friday and was on track for its sixth straight weekly decline, weighed down by fears that losses in risky mortgage debt would hurt consumers and slow U.S. growth.
China may be known for a lot of things--its rich culture, its gastronomic delights, its burgeoning economy. But I bet you'd never, ever guess that it's also got a budding, European style wine industry. I visited the ninth biggest winery today, in the northwest corner of Beijing. Amid the wide roadways, the construction sites and scores of people who simply have no fear of moving vehicles sits the Dragon Seal winery.
Earnings misses by tech darling Google and Caterpillar, one of the Dow's power drivers, are adding to a wobbly opening on Wall Street. Citigroup though is a bright spot with a better than expected 18 percent profit gain and record revenues from investment banking and overseas business.
China raised interest rates on Friday in the latest of a series of tightening steps aimed atkeeping inflation in check and preventing the world's fourth-largest economy from overheating.It also slashed withholding tax on deposit interest income to 5 percent from 20 percent, in an effort to offset the impact of soaring inflation on real deposit rates and give savers lessof an incentive to bet on the red-hot stock market.
Texas oilman Boone Pickens is less certain about cutting a deal with China to distribute liquefied natural gas, CNBC’s Becky Quick reports from Beijing. Pickens, chief executive officer of BP Capital, said better deals may be available in the U.S.
Here in Beijing, you can see the change happening everywhere you go. Construction sites are a dime a dozen. Roads are being repaved in the wee hours of the night. Cranes lurch over the skyline. Still, some things here never change--including the way businesses interact with the media.
China's product safety watchdog said Friday it had revoked the business licenses of several firms that had exported products, tainted with diethylene glycol and melamine, at the heart of a food safety scare.
China's annual economic growth surged to 11.9% in the second quarter, easily beating market forecasts, as strong investment and a record trade surplus buoyed the world's fastest-growing major economy.
President Bush established a high-level government panel to recommend steps to guarantee the safety of food and other products shipped into the United States and to improve U.S. policing of those imports. The White House denied the effort was aimed primarily at China.
Philippine authorities tested more Chinese products Wednesday after ordering several candy and cookie brands found to be tainted with an embalming chemical to be withdrawn from stores, the country's food safety watchdog said.
Energy investor and financier Boone Pickens says natural gas is the biggest opportunity for his businesses in China now.
Speculation is swirling that data on Thursday could show a spike in June inflation that would increase the chances of a fresh round of policy tightening, according to economists and market participants.
The anticipation gets pretty heady when you've got 13 hours on a plane, with little more than a book, a bad movie and a magazine to keep you busy. I am in Beijing, China. I left Washington Dulles airport at 10:15 pm and landed in Beijing at 2:00 in the afternoon the next day. I'm here reporting a number of stories on what businesses are doing to prepare for the olympics (they are just about one year away), how this country is seeing unprecedented economic growth and how companies are harnessing that boom to help their own bottom lines.
I have been reading Runner’s World for the last 10 years or so and I have never stopped at an ad like I did when I saw this Pearl Izumi ad in their August issue. What made me stop? I thought it was so outrageous. So over the top. I read the thing four or five times and wasn’t quite sure what the point was. Was I more likely to buy Pearl Izumis from reading the ad? Were these Pearl Izumis going to help me find dead bodies? Would they give me a free pair if I found one?
China Coal Energy said it would issue up to 1.525 billion class-A shares in a public offering of shares in Shanghai, raising funds to develop major coal related projects in China.
China's trade surplus hit a record $26.91 billion in June from $22.5 billion in May, an increase likely to intensify calls for Beijing to let the yuan climb more quickly.
China's yuan rebounded against the U.S. dollar on Tuesday after retreating for four straight trading sessions, guided by the central bank setting a record-high mid-point.
Zinc and lead look golden, according to two "Morning Call" guests. Bill Mann, senior analyst at The Motley Fool, and Lou Grasso, metals trader at Millenium Futures, told CNBC's Liz Claman why base metals have a bright future -- and how investors can play it.
Boom! Monday morning and the Chinese markets notch up 3% intra-session. Oil hangs on to $75 a barrel, the dollar is firm and European bourses are fired up to make early gains. If the de-risking trade is on-going into what traditionally should be a Summer slowdown then it is proving tricky finding the evidence.
China has scrapped a set of rules that provided incentives for exporters to bring home as much foreign currency as they could, signifying another step in its efforts to ease capital inflows.