China makes big cut in bank reserve requirement to fight slowdown

BEIJING - China's central bank on Sunday cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, adding more liquidity to the world's second-biggest economy to help spur bank lending and combat slowing growth.

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Greece's Varoufakis warns of Grexit contagion

MADRID - Greece's Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect.

World, Greece 5:47pm EDT

Japan, U.S. report progress on trade talks, though Tokyo stands tough on rice

TOKYO - Japan and the United States reported progress in top-level trade talks on Sunday that could pave the way for a broader trans-Pacific trade deal, although Tokyo cautioned that a bilateral accord was unlikely in time for a summit next week.

10:31am EDT

Toyota to launch two hybrid cars in China this year

SHANGHAI - Toyota Motor Corp , the world's largest automaker by sales volume, plans to launch two hybrid cars in China this year as part of efforts to launch vehicles that will help to reduce pollution in the country.

9:46am EDT

Chairman Piech's grip on Volkswagen weakened by row with CEO

BERLIN/HAMBURG - Volkswagen Chairman Ferdinand Piech's iron grip on the German carmaker has been severely weakened following a dramatic confrontation with senior board members last week that nearly resulted in a push to oust him, sources told Reuters.

11:43am EDT

Oil slide slashes first-quarter profit, not investment plans at Saudi's SABIC

RIYADH - Saudi Basic Industries Corp faces heavy pressure on its profits due to cheap oil but will keep investing globally to boost capacity in key areas, its acting chief executive said on Sunday after the company reported a 39 plunge in first-quarter profit.


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