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  • *China is world's second-biggest defence spender. *Aircraft carriers, submarines seen among China's priorities. BEIJING, March 4- China's defence budget this year will rise about 10 percent compared with 2014, a top government official said on Wednesday, outpacing the slowing economy as the country ramps up investment in high-tech equipment such as...

  • March 4- Teen apparel retailer Abercrombie& Fitch Co said the factors that led to a drop in sales in the fourth quarter- a strong dollar and weak demand for clothing featuring its name and logo- would persist in the first half of its fiscal year. Abercrombie& Fitch shares fell as much as 15 percent to a six-year low of $20.37 in morning trading on Wednesday.

  • Mar 4- Teen apparel retailer Abercrombie& Fitch Co said the factors that led to a drop in sales in the fourth quarter- a strong dollar and weak demand for clothing featuring its name and logo- would persist in the first half of its fiscal year. Teen apparel retailers such as Abercrombie, American Eagle Outfitters Inc and Aeropostale Inc have suffered as young...

  • Abercrombie & Fitch profit falls by a third Wednesday, 4 Mar 2015 | 7:44 AM ET

    Mar 4- Teen apparel retailer Abercrombie& Fitch Co said its quarterly profit fell by a third, hurt by low demand for its Hollister and namesake brands, discounts and a strong dollar. The company's net income fell to $44.4 million, or 63 cents per share, in the fourth quarter ended Jan. 31, from $66.1 million, or 85 cents per share, a year earlier. Net sales fell 14 percent to...

  • *China is world's second biggest defense spender. *Aircraft carriers, submarines seen among China's priorities. BEIJING, March 4- China's defense budget this year will rise about 10 percent compared with 2014, a top government official said on Wednesday, outpacing the slowing economy as the country ramps up investment in high-tech equipment such as...

  • BEIJING— China's official military budget will grow by about 10 percent in the coming year, a legislative spokeswoman said Wednesday, amid unease among Beijing's neighbors about its growing might and territorial ambitions. The spending reflects China's growing power and desire to assert itself in the region and globally. Fu told a news conference that...

  • NEW DELHI— India's central bank on Wednesday unexpectedly cut a key interest rate by a quarter percentage point, the second such reduction this year as the bank lends support to government efforts to boost economic growth. But India's inflation rate has fallen substantially in recent months as global oil prices have dropped sharply. India's Prime Minister...

  • Holy cow! #Beefban blows up on social media Tuesday, 3 Mar 2015 | 9:05 PM ET

    The hashtag #beefban is blowing up on Twitter after Maharashtra imposed a jail sentence and fine for the sale or possession of the red meat.

  • NEW YORK— Target Corp. is cutting several thousand jobs as part of a plan to eliminate $2 billion in costs over the next two years. Target also plans to invest between $2 billion and $2.2 billion in capital expenditures for the current fiscal year. We have to create a more innovative culture, " Brian Cornell, Target's CEO told analysts Tuesday at a meeting in New York...

  • India's smartphone boom  Tuesday, 3 Mar 2015 | 1:39 PM ET

    India is the fastest growing cellphone market in Asia. Who's leading the market, with CNBC's Seema Mody.

  • March 3- Citigroup Inc said it has agreed to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf Holdings Inc for $4.25 billion in cash. The consumer finance company is part of Citi Holdings, which Citigroup created during the financial crisis to park assets that it wanted to eventually divest or wind down.

  • March 3- Citigroup Inc said it has agreed to sell its consumer finance unit OneMain Financial Holdings Inc to subprime lender Springleaf Holdings Inc for $4.25 billion in cash. The sale of OneMain is a major step in the No. 3 U.S. bank's plan to sell unwanted assets and focus on wealthier clients. OneMain is part of Citi Holdings, which Citigroup created during the...

  • March 2- Warehouse club retailer Costco Wholesale Corp said on Monday it had tied up with Citigroup Inc and Visa Inc to issue co-branded credit cards in the United States and Puerto Rico. Citigroup will exclusively issue the co-brand cards and Visa would provide the payment network, replacing American Express Co, from April 1, 2016, Costco said.

  • March 2- Warehouse club retailer Costco Wholesale Corp said on Monday it had entered into agreements with Citigroup Inc and Visa Inc for co-branded credit cards. Citigroup will become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express Co as the credit card network for Costco in the United States and Puerto Rico from...

  • MUMBAI/ NEW DELHI, March 2- India has formally adopted inflation targeting, a historic monetary policy overhaul that marks a victory for Reserve Bank of India Governor Raguram Rajan, as the government makes subduing chronically volatile prices a priority. Monday's document showed the move- the most significant change in monetary policy since India opened its...

  • GFMF top guests: Where to invest?  Monday, 2 Mar 2015 | 5:30 AM ET

    So how can investors make money in specific markets? Top guests from the Global Financial Markets forum give their thoughts.

  • India unveils inflation target  Monday, 2 Mar 2015 | 4:30 AM ET

    Edwin Gutierrez, head of emerging market sovereign debt at Aberdeen Asset Management, talks about India's budget for growth and the cut in corporation tax.

  • Huge opportunities in India: GS' Patel  Monday, 2 Mar 2015 | 2:45 AM ET

    Speaking at the Global Financial Markets Forum, Sheila Patel, CEO of International Goldman Sachs Asset Management, told CNBC there are huge opportunities in India going forward.

  • *No March bookings of Iran oil shipments by India so far- trade. *MRPL buys from Kuwait, Saudi Arabia to replace Iran oil- source. India, Iran's top client after China, shipped in about 102,200 barrels per day of crude and condensate from Tehran in February, the lowest since July 2013, and down 63 percent from January and 62 percent from a year ago, according to tanker...

  • Why you should go long on the Indian rupee  Monday, 2 Mar 2015 | 2:00 AM ET

    Hans Redeker, global head of FX strategy at Morgan Stanley, explains why he's long on the Indian rupee.