China’s consumer inflation was more muted than expected in April and producer prices fell for the 37th consecutive month, adding to concerns about growing deflationary pressures which are likely to trigger further policy easing. A seasonal jump in food prices aside, some economists said the figures pointed to moderate price pressures and lacklustre domestic demand in the world’s second-biggest economy. “Consumer prices remained sluggish in April and the risk of
Alibaba Group Holding Ltd., China’s biggest e-commerce company that held its initial public offering last year, bought $56.2 million of stock in U.S. online retailer Zulily Inc. this week, according to a regulatory filing. The purchases brought Alibaba’s holdings of Seattle-based Zulily to 11.5 million shares, or a 9.3 percent stake, according to regulatory filings and data compiled by Bloomberg. Alibaba’s Zulily holdings were worth $152.9 million at Friday’s closing
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April’s 223,000 nonfarm payrolls were strong enough to signal a rebound, but weak enough to hold off Fed rate hikes until the second half of the year.
Sports shoe maker Nike Inc put its weight behind President Barack Obama’s push for a trade deal with Asian countries on Friday with a promise to create up to 10,000 U.S.-based manufacturing jobs if the pact is approved. In an announcement coinciding with a visit by Obama to Nike’s Oregon headquarters, the company said footwear tariff relief within the proposed 12-nation Trans Pacific Partnership trade agreement would allow it to
Tesla is already building a 5-million-square-foot battery factory. Anyone can go online and place a reservation, years in advance, with no money down and no commitment to buy.
For individual investors, it’s time to steer clear of the market, warns the Head of equity trading at Wedbush Securities.
U.S. stocks rose after a rebound in hiring last month bolstered optimism that economic growth is accelerating, but not fast enough to warrant higher interest rates in June.
Jim Paulsen, chief investment strategist at Wells Capital Management, says the government’s April jobs report was not as strong as it appeared.
Same-store sales at McDonald’s restaurants globally fell 0.6 percent in April, its 11th straight monthly decline. Same-restaurant sales grew 1 percent in Europe, as gains in the United Kingdom and Germany offset declines in the key markets of France and Russia amid economic volatility in the region. Shares of the world’s biggest restaurant chain were up 2 percent at $98.72 in morning trading, mirroring a rally in U.S. stocks following
