Foreign companies bet on China’s consumers as industry slows
LONDON (Reuters) – Coffee shops, burger bars and clothes stores are among the foreign businesses in China that say they are thriving despite the economic slowdown that is hurting the manufacturing sector.
Swiss say $4 billion misappropriated from Malaysian state firms
WASHINGTON/KUALA LUMPUR (Reuters) – Switzerland’s chief prosecutor said on Friday a criminal investigation into state fund 1Malaysia Development Berhad (1MDB) had revealed that about $4 billion appeared to have been misappropriated from Malaysian state…
Bacardi demands U.S. explain giving Havana Club brand to Cuba
HAVANA (Reuters) – Bacardi on Monday sought U.S. records to explain the U.S. government’s decision to strip the spirits company of its right to the Havana Club brand name and hand it back to a Cuban state company partnered with a global rival.
Pennsylvania Democrats raise concerns over CP’s Norfolk Southern bid
CHICAGO (Reuters) – Democrats from Pennsylvania’s congressional delegation sent a letter to a federal rail regulator on Monday raising concerns over the possible negative impacts of a merger between Canadian Pacific and Norfolk Southern Corp.
Wall Street cuts losses to close flat; Alphabet jumps after hours
(Reuters) – Strong gains in Facebook and Alphabet helped Wall Street cut losses and stage a late-day rally, with major indexes closing near the unchanged mark.
OPPO, Vivo snap at Apple’s heels in China mobile market
SINGAPORE/HONG KONG (Reuters) – Beyond China few may have heard of OPPO or Vivo, but these local handset vendors are rising up the rankings in the world’s largest smartphone market, using local marketing savvy and strong retail networks in lower-tier c…
Exclusive: Global automakers wary of China certification shift
BEIJING (Reuters) – Some global automakers are worried that China is pushing its weight around as the world’s biggest car market – by enforcing its own, often outdated, vehicle certification standards on foreign cars.
U.S. factories show signs of stabilization; consumers hibernate
WASHINGTON (Reuters) – U.S. manufacturing activity contracted in January for a fourth straight month as factories grappled with a strong dollar and lower oil prices forced energy firms to further cut spending, but the pace of the decline appeared to be…
Fox to offer employees buyouts to save $250 million in costs
(Reuters) – Twenty-First Century Fox said it would offer some of its employees voluntary exit options with “generous” benefit packages, with the aim of reducing costs by about $250 million.
Volkswagen faces Tuesday U.S. deadline for SUV emission repair plan
WASHINGTON (Reuters) – Volkswagen AG faces a Feb. 2 deadline to submit a repair plan for 80,000 diesel SUVs and larger cars that emit excess pollution, even as it considers buying back some vehicles and a prior fix plan for smaller vehicles was rejecte…
