Posts From King World News

China Growth Last Quarter Seen Worst Since Global Recession

For Zhu Zhangjin, the boss of a furniture factory in eastern China, the cost of finance is still one of the “mountains” weighing on his business’s profitability. Borrowing costs are the “highest among all major economies,” said Zhu, chairman of Zhejiang province-based Kasen International Holdings Ltd., naming rising labor expenses and tax rates as other headaches. Zhu’s company, which employs about 5,000 people and exports sofas and car seats to

Exclusive: ConocoPhillips to launch U.S. asset sales – sources

ConocoPhillips is preparing the sale of noncore oil and gas producing acreage in the United States, in the latest sign that oil majors are becoming more accepting of lower oil prices, according to people familiar with the matter. While the world’s oil and gas companies have been looking to buy assets on the cheap since oil prices plummeted, epitomized by Royal Dutch Shell Plc’s agreement earlier this month to buy