China efforts to slow yuan fall hoist Europe shares, bond yields
LONDON (Reuters) – European shares rallied on Thursday as calm returned to global markets after China’s central bank said there was no basis for further depreciation of its yuan currency following a sharp devaluation this week.
U.S.-China aviation talks hit stumbling block on airport access
BEIJING/NEW YORK (Reuters) – Talks to ease limits on flights between the United States and China’s gateway cities have stalled over U.S. fears its airlines will be given less attractive time slots for take-off and landing than their Chinese rivals, peo…
Lenovo faces Motorola hangover, cuts 3,200 jobs as sales slide, profit tumbles
BEIJING (Reuters) – China’s Lenovo Group Ltd will lay off 10 percent of white-collar staff after sales of Motorola handsets fell by a third, raising doubts over the personal computer giant’s bet that a money-losing brand it bought for nearly $3 billion…
Roche buys ‘superbug’ diagnostics firm for up to $425 million
(Reuters) – Roche is buying U.S. diagnostics firm GeneWEAVE BioSciences for up to $425 million, expanding the Swiss group’s commitment to fighting so-called “superbugs” as the threat from drug-resistant microbes grows.
China central bank says no basis for further yuan depreciation, will monitor cross-border flows
SHANGHAI (Reuters) – China’s central bank said on Thursday that there is no basis for further depreciation in the yuan currency given strong economic fundamentals, in a bid to reassure jittery global financial markets after it devalued the currency ear…
As Macy’s eyes China, some see need for more focus at home
(Reuters) – Macy’s Inc’s plan to open a virtual store on Alibaba offers a cheap way into China, but as the latest in a long list of initiatives to spur growth it could spread management thin.
Slim’s America Movil eyes European fixed-line telcos
MEXICO CITY (Reuters) – America Movil is still sniffing out deals in Europe, which could become twice as important for the Mexican telecom company’s revenue base within five years, its chief financial officer said on Wednesday.
China lets yuan fall further, fuels fears of ‘currency war’
SHANGHAI (Reuters) – China’s currency fell to a four-year low on Wednesday, slumping for a second day, after a central bank devaluation on Tuesday, and government sources believe the yuan may be allowed to slide even further to help the country’s expor…
News Corp profit beats as cost cuts in news business pay off
(Reuters) – News Corp reported a better-than-expected quarterly profit on Wednesday, helped by cost cuts in its news and information services business that includes Dow Jones and the Wall Street Journal.
Strong U.S. sales help Cisco beat estimates
(Reuters) – Network equipment maker Cisco Systems Inc reported higher-than-expected quarterly revenue and profit as strong demand for its products in the United States more than offset weakness elsewhere.
