MONEY (MSM)
The seller of brewing machines and single-serve coffee pods said nothing about a little-known exemption in the U.S. tax code that for many years has benefited Starbucks Corp and other U.S. companies who trade in some commodities. In internal presentations, Keurig said the move was aimed at expanding into the European market and gaining access to Switzerland’s talent pool of coffee traders, one source familiar with the transition told Reuters.
Chinese exports and imports contracted in August in the latest sign of weakness for the world’s second-biggest economy. Customs data posted online Tuesday showed that shipments of goods last month shrank …
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
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
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
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,
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
Germany will set another export record this year despite recent worries of an economic slowdown in China, the head of the German trade association said in an interview published on Sunday. Economists have expressed concern that China’s woes might become a burden for Germany’s export-centric economy, Europe’s largest, which has the greatest exposure to China of all 28 EU member states. China is the Germany’s fourth biggest export market, accounting
Financial leaders from the world’s 20 biggest economies agreed on Saturday to step up reform efforts to boost disappointingly slow growth, saying reliance on ultra-low interest rates would not be enough to accelerate economic expansion. “Monetary policies will continue to support economic activity consistent with central banks’ mandates, but monetary policy alone cannot lead to balanced growth,” the communique of the G20 finance ministers and central bankers said.
The U.S. Federal Reserve should not rush its decision to raise interest rates and should move only when it is sure the decision is unlikely to be reversed later, the head of the International Monetary Fund, Christine Lagarde, said on Saturday. Many emerging market economies are concerned that a Fed rate rise would trigger large outflows of capital from emerging economies into dollar-denominated assets, creating market turmoil that would hurt
