TOKYO An extended selloff in Chinese stocks pulled down Asian markets on Monday, while the yuan bounced on suspected intervention by Beijing hours ahead of an IMF decision on whether to promote it to a basket of global reserve currencies.
Recent Business News
GUANGZHOU, China Automakers are betting that Chinese families will embrace the mini-van, hoping the larger, unsexy sibling of the bestselling SUV will become the next big thing just as Beijing relaxes the one-child policy.
Rupert Murdoch, co-chairman of Wall Street Journal publisher News Corp , on Friday said he had "strong word" that the Tribune Publishing Co's newspaper group will be bought by a Wall Street firm, while the Los Angeles Times will be split off and purchased by local investors including philanthropist Eli Broad.
LONDON/NEW YORK/FRANKFURT Investment bank Lazard is working with Sanofi's management to prepare a sale or listing of its Merial animal health unit, aiming to land the leading advisory job for the deal, which could value the business at up 12 billion euros ($12.7 billion), sources familiar with the matter said.
Herve Falciani, an ex-employee of HSBC's Geneva private bank who leaked information on clients and their tax situation, has been sentenced to five years in prison for aggravated industrial espionage, the bank said on Friday.
FRANKFURT If Elon Musk's vision of millions of households producing all their own power becomes a reality, it will probably happen first in Germany. But he will face a battle for market share against local firms with years of experience in renewable energy.