The Chinese government will invest more than 100 billion yuan ($14.8 billion) to subsidize its fledgling environmentally friendly car industry over the next 10 years.
Billionaire investor Warren Buffett, often dubbed the Oracle of Omaha, has seen the future of fashion in the most unlikely of places, bearing a Made in China label better known for its cheap than chic.
Slowly China is beating India in gold business and the Dragon land is making considerable progress in the yellow metal trade. As part of its strategy to expand the gold business, China has allowed more banks to import and export gold.
Gold rose above $1,190 an ounce in Europe on Wednesday, benefiting from softer appetite for assets such as stocks and hopes for a rise in Asian demand, though an ongoing dearth of safe-haven demand capped gains.
Spot gold rose to a high of $1,197.05 an ounce, its strongest since July 23, and was bid at $1,194.95 an ounce at 5:37 a.m. ET versus $1,185.35 late in New York on Tuesday. U.S. gold futures for December delivery rose $9.60 to $1,197.10.
More of Europe's top banks beat earnings forecasts on Wednesday, as bad debts shrank more than expected in the first half, outweighing a slowdown in investment banking, which was hit by sovereign debt fears.
The yen rose toward a 15-year high against the dollar on Wednesday, sending benchmark government bond yields below 1 percent and adding pressure on Japanese policymakers to keep the fragile economic recovery on course.
Toyota Motor Corp's <7203.T> biggest quarterly profit in two years and a hike in its annual forecasts failed to allay concerns about the strength in the yen, weak margins and a faltering U.S. market.
Toyota Motor Corp <7203.T> reported its best operating profit in two years on Wednesday, beating market estimates, and lifted its cautious forecasts despite a sluggish U.S. recovery and a stronger yen.
Gold prices climbed in Asian trade Wednesday after reports said China, the world's largest gold producer, decided to expand its market.
Spot gold was seen trading at $1192.01 an ounce at 12.00 noon Singapore time while December-delivery futures was at $1195.30 an ounce on the Comex division on Nymex.
Gold extended gains and rose to its strongest in a week on Wednesday as investors shifted out of equities after poor U.S. data sparked concerns about the health of the global economy.
The yuan held flat against the dollar on Wednesday and its performance lagged far behind the global fall in the U.S. dollar index .DXY, which has broken through a major 200-day moving average support.
The market's enthusiasm over yuan appreciation from a sliding dollar was dampened by the People's Bank of China's clear signal it does not want the yuan to move widely despite dollar weakness.
Auto sales rose 5 percent in July in an uneven recovery that left Toyota Motor Co <7203.T> and Honda Motor Co <7267.T> sputtering with declines from strong results a year ago.
General Motors Co posted a 5 percent gain in July U.S. sales on Tuesday which it said underscored evidence of progress in the year since its emergence from a U.S. government-funded bankruptcy.
Gold firmed on Tuesday as physical consumers took advantage of lower prices to buy into the metal and as China announced moves to allow greater freedom in its gold trade, but a lack of investment kept a lid on gains.
Spot gold was bid at $1,184.95 an ounce at 1334 GMT (9:34 a.m. EDT), against $1,181.25 late in New York on Monday. Earlier it rose as high as $1,188.75. U.S. gold futures for December delivery climbed $1.80 to $1,187.20 an ounce.
Teenagers who spend excessive amounts of time on the Internet are one and a half times more likely to develop depression than moderate web users, a study in China has found.
Japan's finance minister on Tuesday sidestepped questions about intervention to curb yen strength and said markets should determine exchange rates, prompting the currency to rise to an eight-month high against the dollar.
Gold rose in Europe on Tuesday as physical consumers like jewelers took advantage of lower prices to buy into the precious metal, and as China announced moves to allow greater freedom in its gold trade.
Spot gold was bid at $1,183.65 an ounce at 0943 GMT, against $1,181.25 late in New York on Monday. U.S. gold futures for August delivery rose 40 cents to $1,185.80 an ounce.
A question-and-answer page on Google Hong Kong's website became inaccessible to some mainland Chinese users on Tuesday, underscoring Beijing's sensitivity about the Internet.
The United States said it was disappointed that the United Arab Emirates planned to cut off key BlackBerry services, noting that the Gulf nation was setting a dangerous precedent in limiting freedom of information.
U.S. manufacturing grew in July at its slowest pace this year as a stream of new orders tapered off, pointing to further slackening in the economic recovery.
U.S.-listed shares of Research in Motion fell 2.4 percent on Monday after the United Arab Emirates threatened to suspend services for its BlackBerry smartphone users due to security concerns.
Fears the U.S. recovery is faltering drove the dollar to a three-month low on Monday against a basket of currencies while strong European earnings pushed sterling to a six-month high against the greenback.
