CHINA

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China seizes more melamine-tainted milk powder

Chinese inspectors tracing new cases of contaminated milk have shut dairy firms in the northwest and seized 72 metric tons of milk powder tainted with melamine, an industrial compound that killed at least six children in 2008.

Daily Forecast - 8/2/2010

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The Aussie dollar remained relatively range bound on Friday bouncing between 0.8650 and 0.8700 for the majority of the Asian session.
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Recovery, debt woes to hound

U.S. stocks face more turbulence that could send indexes spiraling through key levels this week as doubts about the global recovery's pace persist and fears linger over Europe's sovereign debt woes.
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With Volvo, China eyes M&A abroad to win at home

Once Li Shufu, head of China's Zhejiang Geely Holding Group, closes the deal to buy Ford Motor's Volvo unit for up to $2 billion, the sedate, safety-conscious Swedish brand may be in the running to replace the Audi A6 as Chinese state officials' car of choice.
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North Korea says will release U.S. activist Park

North Korea said on Friday it will release U.S. religious activist Robert Park, arrested in December for illegally entering the country in a journey to raise awareness about Pyongyang's human rights abuses.
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OECD sees improved outlook

The outlook for recovery in most of the world's major economies improved in December but the indicator for China dipped slightly, according to an OECD survey released on Friday.
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Rio Tinto hires new China boss to improve ties

Global miner Rio Tinto hired Ian Bauert, a fluent Mandarin speaker, to head its China business on Friday in an effort to improve relations with its largest customer after the arrest of a top executive there.
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Google, NSA to team up in cyberattack probe

Internet search firm Google is finalizing a deal that would let the National Security Agency help it investigate a corporate espionage attack that may have originated in China, the Washington Post reported on Thursday.
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Google, NSA may team up over cyberattacks: report

Internet search firm Google is finalizing a deal that would let the National Security Agency help it investigate a corporate espionage attack that may have originated in China, the Washington Post reported on Thursday.
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China hits back at Obama over currency

China dismissed U.S. threats to get tough on trade and exchange rates to ensure American goods are not disadvantaged, saying on Thursday that its currency was at a reasonable level.
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Wall Street futures point to weaker open

Stock futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.5 to 0.6 percent, pointing to a weaker start on Wall Street on Thursday.
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Asia shares slide; Toyota sinks to ten-month low

Lingering concerns about the global economy and a host of negative local factors pushed Asian stocks lower on Thursday, with Toyota hitting a 10-month low on investor concerns over its massive vehicle recall.
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BofA Merrill sees room to grow on world markets

Investors should consider stepping into equities linked to countries that are the first to raise interest rates, Bank of America Merrill Lynch's chief global equity strategist said on Wednesday.
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Oil slips towards $77 on U.S. crude oil build

Oil slipped toward $77 a barrel on Wednesday after U.S. data showed crude inventories in the world's largest energy consumer rose more than expected while refinery utilization rates fell again.

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