Stocks scale peaks, yuan drops most in three years
LONDON (Reuters) – World shares were at a 6-year high on Tuesday following a record peak on Wall Street, while moves by China to stamp out easy betting on the yuan triggered the currency’s biggest drop in over three years.
Foreign trade drives fourth quarter German growth as domestic demand disappoints
BERLIN (Reuters) – Foreign trade propelled growth in Europe’s largest economy in the fourth quarter while domestic demand, which had been a key growth driver throughout the rest of the year, was a drag.
Bank of England’s McCafferty would fear further sterling rise
LONDON (Reuters) – Further sterling strength would be a worry and could potentially make the Bank of England delay raising interest rates, BoE policymaker Ian McCafferty said in some of the central bank’s most forceful recent comments on the pound’s ri…
Property remains top wealth driver in China-Hurun list
BEIJING (Reuters) – Real estate remained the most lucrative road to riches in China last year, according to the Hurun Global Rich List, despite Beijing’s repeated efforts to cool red-hot property prices.
China’s $12 trillion corporate debt pushes up refunding costs, drives mergers
BEIJING/HONG KONG (Reuters) – China’s corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.
Uniqlo tweaks ‘Made for All’ to give U.S. shoppers a ‘3-D’ fit
TOKYO (Reuters) – Fast Retailing Co’s casual clothing brand Uniqlo is rethinking its “Made for All” strategy, looking to offer lower priced lines in smaller Asian cities and more generous sizes to fit the U.S. market, a top executive said on Tuesday.
ECB sees no deflation risk for now: Praet
BRUSSELS (Reuters) – The European Central Bank sees no current risk of deflation nor signs of people delaying purchases, policymaker Peter Praet said in a newspaper interview published on Tuesday.
How Citigroup stumbled in the Mexican housing market
ZUMPANGO, Mexico/NEW YORK – (Reuters) – Just outside the town of Zumpango, about an hour from Mexico City, packs of stray dogs sniff around abandoned homes in a half-empty neighborhood.
Western Union faces probe for fraud-induced money transfers
(Reuters) – Money-transfer company Western Union Co is being probed by the Federal Trade Commission and a U.S. district court over fraud-induced money transfers, the company said in a regulatory filing on Monday.
Compliance becomes hotter issue for U.S. firms in China: report
SHANGHAI (Reuters) – U.S. companies in China placed greater focus on compliance last year after several high profile probes into corruption and high pricing, but rising costs and a skills shortage remained their main concerns, the American Chamber of C…
