Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
KUALA LUMPUR, Aug 16 (Reuters) - Malaysia's former prime minister, Najib Razak, on Monday faces the biggest of five trials linked to a multi-billion-dollar scam at state fund 1MDB, although lawyers are seeking a delay to allow time for the completion of a previous trial.
Najib, who lost a general election last year, has been hit with 42 criminal charges of graft and money laundering at 1Malaysia Development Berhad (1MDB) and other state entities.
1MDB, founded by Najib in 2009, is being investigated in at least six countries, and the U.S. Department of Justice says about $4.5 billion was misappropriated from the fund.
In his second trial at the Kuala Lumpur High Court, Najib will have to fight 21 charges of money laundering and four of abuse of power for receiving illegal transfers of about 2.3 billion ringgit ($550.8 million) between 2011 and 2014.
He has pleaded not guilty and says the charges are politically motivated.
On Friday, prosecutors handed to the defence thousands of pages of documents related to the case, government lawyer Ahmad Akram Gharib told Reuters.
"Under the rules, a trial can only begin at least two weeks after all the related documents are handed over," he said, adding that about 60 witnesses were expected to be called in the second case.
The first trial, which began in April and revolves around former 1MDB unit SRC International, was adjourned on Aug. 14 after Najib contracted an eye infection, halting the cross-examination of the prosecution's final witness.
That case is also expected to resume on Monday, and lawyers from both sides hope the second trial can be delayed to allow prosecutors to wrap up the first.
"The accused can only be at one place at a time," Najib's lawyer, Harvinderjit Singh, said. "We are hoping the judge will allow us some leeway in this matter."
After the shock election loss, Najib and his wife Rosmah Mansor were barred from leaving Malaysia and their luxurious lifestyle came under scrutiny, with the discovery of nearly $300 million worth of goods and cash at properties linked to him.
Rosmah, known for her designer handbags and jewellery, has also been charged with corruption. She has pleaded not guilty.
Najib's lawyers say he had no knowledge of the transfers into his accounts and was misled by Malaysian financier Low Taek Jho and SRC's former chief executive, Nik Faisal Ariff Kamil, who are both at large.
Low, who faces charges in the United States and Malaysia over his alleged central role in the 1MDB case, has consistently denied wrongdoing. A spokesman for Low did not respond to a request for comment.
Nik Faisal, who has never publicly commented on the matter, could not be reached for comment. ($1=4.1760 ringgit) (Reporting by Rozanna Latiff; Editing by Krishna N. Das; Editing by Clarence Fernandez)