HONG KONG - Asian stock markets retreated on Tuesday and the Australian dollar stumbled after the central bank cut interest rates for the second time in four months as the region's growth falters in the face of slowing demand from China.
Recent Business News
- The Pimco Total Return Fund, launched by Bill Gross, has lost its title as the world's biggest bond mutual fund, following two years of withdrawals.
HANOVER, Germany - Volkswagen aims to quickly find a successor to Ferdinand Piech who quit as chairman week before last, after 13 years in the position, following a damaging public leadership dispute with Chief Executive Martin Winterkorn, the CEO said.
MEXICO CITY/SAN FRANCISCO - SurveyMonkey Chief Executive Dave Goldberg died Friday from a head injury while exercising at a resort in Mexico, the local prosecutor's office said Monday. Goldberg, the husband of Facebook Inc Chief Operating Officer Sheryl Sandberg, fell off a treadmill at a private villa in Punta Mita and hit his head, the prosecutor's spokesman said.
SAN FRANCISCO - Investors seem willing to pay just about anything for a better burger.
WASHINGTON - Credit Suisse has quietly withdrawn a request for a waiver to raise capital more easily, after U.S. Securities and Exchange Commission staffers told the bank in recent weeks it would not win approval, people familiar with the matter told Reuters.