Vehicles on U.S. roads are oldest on record: Polk
DETROIT (Reuters) – Cars and trucks on U.S. roads average 11.4 years in age, the oldest on record since research and consulting firm Polk began to keep track of vehicle age in 1995, Polk said on Tuesday.
China’s Biostime shares halted pending statement on price-fixing probe
HONG KONG (Reuters) – Infant milk producer Biostime International Holdings Ltd , which imports most of its products from overseas, said on Tuesday its shares were suspended pending an announcement related to an investigation by Beijing’s top economic p…
Ford says July China auto sales up 71 pct year-on-year
BEIJING (Reuters) – Ford Motor Co and its local partners in China sold a total of 72,834 vehicles on a wholesale basis in July, an increase of 71 percent from a year earlier, the company said on Tuesday.
Japan $80 billion public fund may shift funds to stocks from bonds: sources
TOKYO (Reuters) – The pension fund for Japan’s civil servants is considering changing its ultraconservative investment strategy to allow more of its $80 billion to go into stocks and less into domestic government bonds, people familiar with the matter …
Shrunken workforce gives Fed added policy headroom
WASHINGTON (Reuters) – So many workers have left the job market in recent years that the decline in the official unemployment rate to 7.4 percent last month may understate the extent of weakness in employment prospects.
Amazon founder Bezos to buy the Washington Post
(Reuters) – Amazon.com Inc founder Jeff Bezos will buy the Washington Post newspaper for $250 million in a surprise deal that ends the Graham family’s 80-year ownership and hands one of the country’s most influential publications to the tech entreprene…
Sony rejects Third Point’s proposal to spin off entertainment unit
TOKYO (Reuters) – Japan’s Sony Corp rejected on Tuesday a proposal from activist shareholder Daniel Loeb to spin off a part of the electronics company’s entertainment business.
Time Warner Cable offers unconventional deal to end CBS blackout
(Reuters) – Time Warner Cable Inc Chief Executive Glenn Britt sent a letter to CBS Corp CEO Les Moonves on Monday offering a controversial new proposal to end the blackout of CBS shows in large TV markets including New York and Los Angeles.
Shrunken workforce gives Fed added policy headroom
WASHINGTON (Reuters) – So many workers have left the job market in recent years that the decline in the official unemployment rate to 7.4 percent last month may understate the extent of weakness in employment prospects.
Sony board votes to keep entertainment unit, rejects Loeb proposal
(Reuters) – Sony Corp’s board voted unanimously not to sell its entertainment unit, rejecting a proposal from hedge fund manager Daniel Loeb, the company said in a statement on Monday.
