Brighter China data fails to lift stocks, dollar sags
LONDON (Reuters) – A two-day rebound in global shares slowed and the dollar edged lower on Tuesday, as slightly above forecast Chinese growth data failed to erase concerns that the world’s second-biggest economy is losing momentum.
As China gets tougher on fuel economy, some carmakers may be left behind
SHANGHAI/BEIJING (Reuters) – Chinese automakers from state-owned FAW Co to Zhejiang Geely are racing to sell more eco-friendly cars as they try to meet tough fuel economy rules due next year as part of Beijing’s battle against pollution.
China must accelerate reforms, not rely on fiscal and monetary policy to drive growth: World Bank
BEIJING (Reuters) – China needs to accelerate reforms and not rely solely on monetary and fiscal policy to drive growth, a top World Bank official said on Tuesday.
Staples says probing possible payment card data breach
(Reuters) – Staples Inc is investigating a possible breach of payment card data and has contacted law enforcement about the matter, making it the latest U.S. retailer to become a possible victim of a cyberattack.
Ackman, Valeant lawyers say Allergan CEO oversaw campaign to discredit Valeant
BOSTON (Reuters) – Billionaire investor William Ackman, whose fund is the largest shareholder in Allergan Inc., and Valeant Pharmaceuticals said the botox maker’s Chief Executive Officer David Pyott tried to discredit Valeant as it was making a hostile…
China to pitch high-speed trains to California
SHANGHAI (Reuters) – State-backed China CNR Corporation is making a pitch to sell its high-speed trains to California, signaling China’s growing export ambitions for such technology after building the world’s longest network in just seven years.
AbbVie says $55 billion acquisition of Shire officially dead
(Reuters) – U.S. drugmaker AbbVie Inc said on Monday it has reached agreement with Shire Plc to officially call off its proposed $55 billion purchase of the Irish company, and will pay Shire a $1.64 billion breakup fee for walking away from the deal.
U.S. stocks end higher despite drag from IBM
NEW YORK (Reuters) – U.S. stocks ended higher on Monday on investor hopes for a strong earnings season, but IBM’s disappointing results limited gains.
AbbVie says $55 billion acquisition of Shire officially dead
(Reuters) – U.S. drugmaker AbbVie Inc said on Monday it has reached agreement with Shire Plc to officially call off its proposed $55 billion purchase of the Irish company, and will pay Shire a $1.64 billion breakup fee for walking away from the deal.
Apple’s iPhone sales beat Street but iPad volumes slide
SAN FRANCISCO (Reuters) – Apple Inc forecast a strong holiday quarter after a better-than-expected 16 percent jump in iPhone sales, and the strongest growth in Mac computer shipments in years helped the company surpass Wall Street’s targets.
