Business News
Amazon Has a Reported Deal To Buy Parent of Diapers.com
Amazon.com plans to announce Monday that it will acquire Quidsi, the e-commerce company that runs Diapers.com, for about $540 million, according to a person with knowledge of the deal. The acquisition suggests how far Amazon will go to maintain its edge in many corners of e-commerce, including sales of bulky household items for which it [...]
FOREX-Dollar soft, slips towards 15-yr low vs yen
The dollar slipped towards a 15-year low against the yen on Tuesday, pressured by a fall in U.S. Treasury yields as worries about the U.S. recovery and the global economy prompted investors to cut back risky positions. The dollar slid as low as 85.11 yen in early Asian trade, within sight of a 15-year low [...]
Japan PM, BOJ governor likely to meet next Monday
Japanese Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa are likely to meet next Monday, a government source said, as persistent yen gains threaten to further hobble the country’s slowing economy. The meeting may be pushed forward to later this week, depending on market developments, said the source, who declined to [...]
Billionaire Li’s Hutchison, Cheung Kong Surge After Earnings
Li Ka-shing’s Hutchison Whampoa Ltd. and Cheung Kong (Holdings) Ltd. gained in Hong Kong trading today after earnings beat estimates and the billionaire said he’s optimistic about the world economy and China’s growth. The prospects for global growth remain stable, the 82-year- old said yesterday. Hutchison’s stock jumped the most in more than 1 ½ [...]
Tesla, Toyota teaming up to make electric-powered RAV4s
Palo Alto electric-car maker Tesla Motors and Japanese auto giant Toyota Motor confirmed Friday that they’re working to build a new electric-powered version of Toyota’s RAV4 crossover-utility vehicle. Under an agreement by the two automakers, Tesla will produce a fleet of RAV4 prototypes with electric powertrains this year. The two companies will aim to start [...]
Asia Currencies Fall on US Slowdown, Pare Slide on China Data
Asian currencies fell after the U.S. reported a drop in retail sales and Federal Reserve officials trimmed their economic growth forecasts, dimming the outlook for exports. Declines moderated after China said its gross domestic product increased more than 10 percent for a third quarter. The Bloomberg-JPMorgan Asian Dollar Index and the MSCI Asia Pacific Index [...]
Foxconn Worker Dies in Apparent Suicide After Chairman’s Visit
A 23-year-old Foxconn Technology Group employee died in an apparent suicide yesterday, less than 12 hours after Chairman Terry Gou bowed in apology for at least nine similar deaths at the company’s factories in China. The man, surnamed He, fell from the seventh floor of a Foxconn building in Shenzhen and had stopped breathing when [...]
China Shares End Up Tad On Short Covering in Some Property Firms
China’s shares ended slightly higher Wednesday as investors closed short positions on property firms, but the thin trading volume reflected the lingering concerns about possible new domestic tightening measures. The benchmark Shanghai Composite Index, which tracks both A and B shares, ended up 0.1%, or 3.16 points, at 2625.79. The Shenzhen Composite Index fell 0.1%, [...]
U.S. delays decision on branding China’s currency policy, skirts confrontation
The Obama administration on Saturday postponed a decision over whether to brand China a currency manipulator, skirting a public confrontation by announcing plans to instead pursue broader discussions about how best to secure a global economic recovery. With China’s leader due in Washington later this month and the heads of both countries trying to smooth [...]
Toyota to extend sales incentives
Toyota Motor Corp (7203.T) will extend U.S. sales incentives in April as it recovers from a two-month sales dip linked to recalls and suspended sales. Don Esmond, Toyota U.S. senior vice president, on Thursday said incentives will be extended beyond April 5, but he declined to divulge details. “As we do on a on monthly [...]
