CHINA

Gas prices, economy hit McDonald's May sales

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McDonald's Corp reported a lower-than-expected rise in May sales at established restaurants as high gasoline prices crimped U.S. spending and Europe's economic woes weakened results from Germany.

Google faces another China-like hurdle in Kazakhstan

Women walk past the logo of Google in front of its former headquarters in Beijing
A draconian order that requires all .kz domain names, such as google.kz, to operate on physical servers within the borders of Kazakhstan was issued last month by the country's Ministry of Communications and Information.
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iRobot sets path to Latin America, China: CEO

iRobot Corp, whose products clean homes and disarm bombs in war zones, expects to see better growth overseas this year as the United States, its domestic market, keeps a tight rein on spending.
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Ford aims to cut debt, expand foreign sales

Ford Motor Co said it planned to cut its net debt by 15.7 percent to around $14 billion by the end of June, continuing to pay off the loans that helped make it the one major U.S. automaker to avoid bankruptcy in recent years.
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GM CEO warns on playing games with national debt

Politicians should not play chicken with the country's credit rating, but need to focus urgently on finding ways to reduce the rising budget deficit, according to the head of General Motors Co.
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Shaky economy worries GM CEO

The shaky U.S. economy, facing stubbornly high unemployment and volatile oil prices, is one of the main worries facing General Motors Co, according to the head of the largest U.S. automaker.
A journalist films from the roof of a hotel as smoke rises in the sky in Tripoli

NATO air strikes targets Gaddafi compound

Low-flying NATO jets have reportedly conducted a rare daytime bombing campaign on Tripoli, Libya, setting off huge explosions and also striking the military barracks and compound of Moammar Gaddafi.
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Lagarde says size of new Greece bailout not decided

French Finance Minister Christine Lagarde said on Tuesday that the size of the additional financial package for Greece had not yet been worked out and that the package will not include the restructuring of Greek debt.
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Lagarde says India positive on IMF job, next stop China

French Finance Minister Christine Lagarde said on Tuesday that Indian officials had positive views on her credentials as she contests for the head of the International Monetary Fund , and that she hoped to get a view on China's position later this week.
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Stock futures rebound after selloff

Stock index futures rebounded on Tuesday, a day after the S&P 500 hit its lowest level in over two months, taking out important technical levels as investors grew more bearish on the economy.
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China official says U.S. could pursue weak dollar policy

China should guard against risks from excessive holdings of U.S. assets as Washington could pursue a policy to weaken the dollar, a senior currency regulator said in comments published on a website that briefly pushed the dollar lower.
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Stock futures bounce after selloff

U.S. stock index futures rebounded on Tuesday, a day after the S&P 500 hit its lowest level in over two months, taking out important technical levels as investors grew more bearish on the economy.
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China official warns on excessive holdings of U.S. assets

China should guard against risks from excessive holdings of U.S. assets as Washington could pursue a policy to weaken the dollar, a senior official at the State Administration of Foreign Exchange said in comments published on Tuesday.
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Dollar falls on China comments, global stocks rebound

The U.S. dollar fell broadly on Tuesday after a Chinese official said the greenback could weaken further against other major currencies while European equities rebounded as investors picked up beaten-down shares.
Steve Jobs takes the stage to discuss the iCloud service at the Apple Worldwide Developers Conference in San Francisco

Why people would love iCloud despite data vulnerability fears

Big day for Apple and therefore for the rest of the world! People were happy watching frail looking Steve Jobs introduce a host of services, and one among the audience even shouted to the Apple CEO: We love you to which he responded that it helps. As the user reviews poured in following the WWDC, people appeared to be in love with Apple's ideas. But industry experts, rival corporations, music industry insiders and legal experts seem to have qualms about the possible implicati...

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