Business «

    GM unveils first model of new China car brand

    SHANGHAI (AFP) – General Motors unveiled the first model of its new car brand aimed specifically at China on Monday, aiming to strengthen its sales lead in the world’s top auto market by wooing middle-class drivers. The Baojun 630, an affordable yet sporty 1.5-litre-engine sedan, has been produced by GM and its partners Shanghai Automotive Industry Corporation Group and Wuling Motors and was unveiled...

    China to raise bank reserve ratio requirement

    BEIJING (AFP) – China’s central bank announced Sunday it will raise the amount of money that lenders must keep in reserve as official concerns persist over inflation and fast-pace lending. The People’s Bank of China said it will raise its reserve ratio requirement by 0.50 percentage points, effective from Thursday. It is the fourth such move this year, and comes after government data showed on...

    Euro zone debt crisis gets new Finnish threat

    LONDON (Reuters) – The euro fell on Monday and stocks were weaker as the rise of a euro-skeptic party in Finland added another potential hurdle to solving the euro zone’s debt problems. Equities were also weaker on disappointing European earnings and concerns about Japan’s coming reporting season. Gold and silver hit new record highs on inflation fears. MSCI’s all-country world stock index...

    Philadelphia Orchestra declares bankruptcy

    PHILADELPHIA, Pennsylvania (AFP) – The acclaimed Philadelphia Orchestra said it would file for bankruptcy, the first major US performance ensemble to do so during the nation’s current economic turmoil. Kate Johnston, a spokeswoman for the 111-year-old orchestra, said however that programming was unaffected for now. “All concerts are going on as scheduled, including a concert tonight,” she...

    Stock futures signal losses; Citi eyed

    (Reuters) Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.45 percent, Dow Jones futures down 0.39 percent and Nasdaq 100 futures down 0.4 percent at 0817 GMT. * European stocks were down 0.4 percent in morning trade, led lower by banking stocks such as Societe Generale (SOGN.PA) and BBVA (BBVA.MC), on growing concern Greece could be forced to restructure...

    S&P hovers near resistance, but volume still weak

    NEW YORK (Reuters) – The S&P 500 failed to break a key technical resistance level for a second day on Tuesday as low trading volume raised further questions about the market’s strength. The broader market index closed slightly below 1,333, a closely watched level as it represents a doubling from the low reached in March 2009. Trading volume was relatively low with just 7.03 billion shares traded...

    Toyota says most Japan plants to stay idle next week

    TOKYO (Reuters) – Toyota Motor Corp (7203.T) said on Wednesday it would not restart production at most of its idled Japanese vehicle assembly factories next week, denying a Nikkei newspaper report. The world’s biggest automaker has halted vehicle assembly at all but two of the 18 group-wide factories in Japan that build Toyota and Lexus cars since the March 11 earthquake and tsunami disrupted supply...

    KB Home 1Q loss grows on fewer home deliveries

    LOS ANGELES – The success of a housing tax credit that helped spur home sales is haunting homebuilders a year later. KB Home is the latest builder to report a sharp drop in home orders for the December-to-February quarter, against year-ago results that were bolstered by the government incentive. Rival Lennar Corp. saw its orders drop 12 percent during the period. The trend underscores a persistent obstacle...

    Late Easter, gas prices hit U.S. store sales

    CHICAGO (Reuters) – March sales at U.S. retail chains probably dropped modestly, held back by the combination of a later Easter and higher gasoline prices. Analysts expect department stores such as Kohl’s Corp (KSS.N) to post the biggest declines after tallying huge gains a year earlier, when consumer demand picked up steam and shoppers bought spring clothing. March sales at stores open at least a year...

    ADB says inflation ‘top priority’ for Asia

    BEIJING (AFP) – The Asian Development Bank said Wednesday controlling inflation was the “top priority” for the region as strong growth, turmoil in the Middle East and Japan’s nuclear crisis drive up oil prices. The Manila-based lender warned some developing economies were showing signs of “potential overheating” and said more flexible exchange rates and capital controls could...

Photo Galleries
 Things To Do




Always wash your hands clean first.