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Glencore leads European share rebound, but China hits Asia
September 07, 2015 MONEY (MSM)

Glencore leads European share rebound, but China hits Asia

European stocks rose on Monday, lifted by mining and commodities giant Glencore after it pledged to slash its debt by a third, and countering a fall in Asian markets led by weakness in China following a four-day break there. Trading is lighter than usual with U.S. markets closed for Labor Day, while investors across all asset classes continued to digest the implications of last week’s U.S. jobs data for the

China forex reserves in record fall as Beijing tries to calm markets
September 07, 2015 MONEY (MSM)

China forex reserves in record fall as Beijing tries to calm markets

SHANGHAI/BEIJING (Reuters) – China’s foreign exchange reserves posted their biggest monthly fall on record in August, reflecting Beijing’s attempts to halt a slide in the yuan and stabilize financial markets following its surprise move to devalue the currency last month. China’s reserves, the world’s largest, fell by $93.9 billion last month to $3.557 trillion, central bank data showed on Monday. The drop left market watchers questioning how sustainable China’s efforts

Exclusive: Apple ups hiring, but faces obstacles to making phones smarter
September 07, 2015 MONEY (MSM)

Exclusive: Apple ups hiring, but faces obstacles to making phones smarter

The goal is to challenge Google in an area the Internet search giant has long dominated: smartphone features that give users what they want before they ask. As part of its push, the company is currently trying to hire at least 86 more employees with expertise in the branch of artificial intelligence known as machine learning, according to a recent analysis of Apple job postings. The company has also stepped

GM's sales drop in August highlights automaker divide in China
September 07, 2015 MONEY (MSM)

GM's sales drop in August highlights automaker divide in China

Vehicle sales for GM and its joint venture partners fell 4.8 percent year-on-year in August, while Ford Motor Co (F.N) and Nissan Motor Co Ltd also reported contracting sales for the month, highlighting the divide between winners and losers in the Chinese market. The figures contrast sharply with last week’s major sales gains for Toyota Motor Corp , Honda Motor Co Ltd and Mercedes maker Daimler AG (DIAGn.DE) in China,

Toshiba posts net loss, plans restructuring to put scandal behind it
September 07, 2015 MONEY (MSM)

Toshiba posts net loss, plans restructuring to put scandal behind it

Japan’s Toshiba Corp booked a net loss for the past financial year and pledged a bold restructuring, raising hopes it was finally moving beyond a $1.3 billion accounting scandal. Shares in Toshiba rose 1.8 percent on Monday, but they are still down around 30 percent since its accounting issues were disclosed in early April. “Toshiba is still facing a number of daunting issues, such as what to do with its