CHINA

China's Baidu signs music deal with studios, ends legal wrangle

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Baidu, China's largest search engine, signed an agreement with a joint venture owned by Universal Music, Warner Music and Sony Music to distribute songs through its mp3 search service, ending years of legal wrangling over charges that Baidu abetted piracy.
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China Web users hit 485 million

The number of Chinese Internet users hit 485 million at the end of June, with microblogging and group-buying posting the highest user growth rates, a Chinese government Internet statistical body said on Tuesday.
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World Bank's Zoellick urges U.S. drive for Doha deal

U.S. leadership could be the vital spark needed to revive moribund world trade talks, World Bank President Robert Zoellick said on Monday, decrying as defeatist the mindset of those prepared to see the deal fail.
Five-tael (6.65 ounces or 190 grams) gold bars are seen at a jewellery store in Hong Kong in this April 21, 2011 illustration photo.

Gold Hits Fresh Record; Debt Ceiling Stalemate, EU Crisis to Give Tailwinds

Spot gold prices touched a new record high of $1598.41 on Monday, extending the longest rally in about 40 years. The latest wind in the tail came from worsening worries of a European sovereign crisis and the painful stalemate in the US debt ceiling talks that has raised the specter of an unprecedented Treasury default.
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Allegations against Chinese companies to continue: Fitch

Allegations of fraud and accounting irregularities at Chinese companies are likely to continue for at least the near term and the accusations may hamper the firms' access to funds regardless of the claims' merit, Fitch Ratings said.
Women's World Cup Finals

Japan Beats US in Women’s World Cup Finals [PHOTOS]

Japan beat the US in the 2011 Women's World Cup finals during a penalty kick shootout on Sunday in Frankfurt, marking its first victory over the US during the same year as a devastating earthquake hit the nation.
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Samsung LED files complaint against Osram in U.S.

Samsung LED Co. Ltd. said it had filed a complaint with the U.S. fair trade commission to ban imports of LED products from Siemens' (SIEGn.DE) light bulb unit Osram and affiliates Osram Opto Semiconductors and Osram Sylvania Inc.

Volkswagen Sets New Sales Record

Deliveries for Europe’s largest car company rose by 14 percent over the same period last year, driven primarily by solid growth in Asia.

Gold Price Set to Zoom to Higher Records on Possible Dollar Sell-Off, EU Soverign Crisis

If the Fed wades further into muddy stimulus waters, that will set the stage for a certain gold boom in the short to medium term. Historically, a dollar sell-off has been the biggest force behind a gold boom. If the Fed takes recourse to another round of easing in pursuit of its goal of propping up job creation and real growth, it will inadvertently cause a dollar sell-off and trigger, in turn, a gold super rally.

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