Asia stocks reach three-year peak, China on the rise

SYDNEY - Asian shares touched fresh three-year highs on Tuesday as investors in the region drew encouragement from a rally in Chinese markets, though caution was warranted given the torrent of U.S. economic news still to come this week.

Recent Business News

BP second-quarter profit rises 34 percent

- BP Plc reported a 34 percent rise in quarterly profit and said it would pay a dividend of 9.75 cents a share for the quarter ended June 30.

2:23am EDT

UBS says books 254 million euros against second quarter to settle one German tax probe

ZURICH - UBS booked a 254 million euro ($341.25 million) charge in the second quarter mainly to settle claims it helped wealthy Germans to dodge taxes, the latest in a string of lawsuits that have targeted its private banking business.

Microsoft targeted in apparent Chinese anti-trust probe

BEIJING - Microsoft Corp appears to be the latest U.S. company targeted by China for anti-trust investigation after government officials paid sudden visits to the software firm's Chinese offices on Monday.

Tech, Media, China 12:59am EDT

Argentine debt defiance may strengthen holdouts' legal position

NEW YORK - Argentina has fought in court for a dozen years against the claims of holdout investors in its defaulted debt, and Argentina has lost. The holdouts, led by Paul Singer's Elliott Capital Management and Mark Brodsky's Aurelius Capital Management, are still waiting to collect a single penny or peso.

1:07am EDT

Panasonic to initially invest $200-300 million in Tesla battery plant: source

- Panasonic Corp plans to initially invest about 20 billion to 30 billion yen ($200-300 million) in Tesla Motors Inc's planned lithium-ion battery plant in the United States, a person familiar with the matter said on Tuesday.

28 Jul 2014


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