CHINA

China roundly condemned the United States for its "debt addiction" and "short sighted" political wrangling and said the world needed a new stable global reserve currency.

China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the "good old days" of borrowing were over.

China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the good old days of borrowing were over.

China's commentary which came after credit rating agency Standard & Poor downgraded U.S credit rating from a top-notch AAA to AA+, harshly criticized U.S for its "debt-addiction" and short-sightedness of politicians.

The U.S. lost its AAA credit rating from Standard and Poor's for the first time in history, dealing a symbolic blow to the world's economic superpower. The impact of this downgrade is a matter of speculation.

The United States lost its top-tier AAA credit rating from Standard & Poor's, drawing a blast of criticism on Saturday from its biggest creditor China and deepening investors' alarm over the euro zone crisis.

China, the largest creditor of the world's sole superpower, hit out at the United States for its "debt addiction" and "short sighted" political wrangling in response to Standard & Poor's historic decision to downgrade the U.S. credit rating from AAA.

China roundly condemned the United States for its debt addiction and short sighted political wrangling and said the world needed a new stable global reserve currency.

China on Saturday condemned the short-sighted political wrangling in the United States over its debt problems and said the world needed a new global stable reserve currency.

Chinese economists said the U.S. credit rating downgrade by Standard & Poor's poses great risk to financial markets and expect it to prompt China, the world's biggest holder of U.S. Treasuries, to accelerate the diversification of its holdings.

At a time when multiple fake Apple stores have been uncovered in China, Apple turned its attention on retail stores in the Chinatown section of Queens, New York, that sell cases and other accessories for Apple products like the iPhone, iPod and iPad, with a trademark lawsuit.

Apple Inc has won a temporary restraining order and preliminary injunction against several retail stores in the Chinatown section of Queens, New York, that sell cases and other accessories for Apple products, including the iPhone, iPod and iPad.

A South Korean SBS TV documentary team accuses Chinese pharmaceutical companies of selling dead baby pills as stamina boosters. The team reveals that the truth behind the dead baby pill is horrific and disturbing.

Groupon Inc said on Friday that it is cutting some underperforming staff at its Chinese joint venture Gaopeng.

Kaspersky and Symantec say Shady RAT isn't as big of a deal as McAfee made it out to be.

Chinese electric motor maker Harbin Electric on Friday denied any Securities and Exchange commission investigation against it, while responding to an allegation made by Citron Research in a recent blog post.

Groupon Inc said on Friday that it is cutting some underperforming staff at its Chinese joint venture Gaopeng.

Investors scrambling for cover during the U.S. deficit and debt ceiling talks and Europe's ongoing sovereign debt crisis sold stock funds and bought emerging market debt and commodities, data from EPFR showed on Friday.

Gold jumped more than 1 percent and metals market plunged on Friday as investors sought safe havens and fled riskier assets on worries over slowing global economic growth.

Procter & Gamble Co is likely to miss Wall Street earnings estimates this quarter as it has not yet pushed through all its price increases that are meant to help deal with higher commodity costs.

Honda Motor Co Ltd will recall 2.49 million cars, small SUVs and minivans worldwide, including its popular Accord sedan, to repair a software problem that could damage the automatic transmission.