TOKYO - Asian shares fell on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year.
Tue, Mar 3 2015
NEW YORK - Pimco's top investment officer said on Tuesday that "late decision makers" are largely behind a rush of withdrawals from its flagship bond fund some five months after the departure of longtime manager Bill Gross, but the outflows should taper off before long.
- U.S. retailer Target Corp on Tuesday said it planned to cut several thousand jobs, mainly from headquarters locations, as part of a restructuring that will cut $2 billion in costs over two years.
- Apple Inc is discussing a settlement in a lawsuit brought by electric car battery maker A123 Systems, which accused the iPhone maker of poaching top engineers to build a large-scale battery division.
SINGAPORE - Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes on oil facilities in Libya.
SHANGHAI - U.S. companies in China have a less rosy outlook for business conditions over the next five years due to a slowing economy, an "opaque" regulatory environment and rising domestic competition, a U.S. business lobby survey showed on Wednesday.
- DuPont on Tuesday rejected a push to let shareholders split their votes between company-backed directors and those nominated by activist investors in an escalating proxy battle with Nelson Peltz.
TOKYO - Toyota Motor Corp said on Wednesday it will promote two foreigners to senior posts - one marking the first woman to hold an executive title - in a drive towards diversifying its management, long dominated by Japanese men.
BEIJING - Activity in China's services sector grew modestly in February as new orders rose at their quickest pace in three months, a private survey showed just a few days after the central bank cut interest rates to stimulate the world's second-largest economy.
- Springleaf Holdings Inc said it would buy Citigroup Inc's OneMain Financial Holdings Inc for $4.25 billion in cash, creating the largest subprime lender in the United States. | Video
Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.