Sino-Forest Corp on Tuesday said it acquired Homix Ltd, a Chinese company engaged in research and development and manufacturing of wood products, for about $7.1 million, sending the forest operator's shares to a two-year high.
The Canadian dollar is continuing to reverse the gains it made in the first week of 2010 against the dollar. The Canadian dollar rose from a low of 1.0576 on December 30 to a high of 1.0249 yesterday at 3 a.m. London time on rising stock and oil prices and prospects of a worldwide economic recovery.
North Korea will not return to nuclear disarmament negotiations unless the United States agrees to peace treaty talks and lifts sanctions, a senior North Korean diplomat said on Tuesday, leaving little room for compromise.
The U.S. trade deficit ballooned in November, as the price of imported oil jumped more than $5 per barrel and as revived consumer and manufacturer demand pushed imports to their highest in nearly a year.
China's second-largest online game company Shanda Games made its first U.S. acquisition on Tuesday, buying online game firm Mochi Media for $80 million, to advance its global ambition and consolidate its position in an increasingly competitive Chinese market.
China took its strongest step toward tightening monetary policy on Tuesday as the world's third-largest economy roars ahead, surprising investors with an increase in banks' required reserves that rocked global financial markets.
China on Tuesday raised the proportion of deposits that banks must hold in reserve, in the clearest sign yet that it has started to tighten monetary policy with its economy roaring back to the brink of overheating.
The European Union should not impose border tariffs on goods from countries that fail to cut back their climate-damaging emissions, the EU's trade commissioner-designate said Tuesday.
AA Sweetens JAL Offer; Cadbury Rebuffs Kraft; China's Growing Fortunes
China's recent moves to tighten control of its online and mobile content industries have brought some uncertainty into the market but may not have a major immediate impact on the sector's biggest players.
Hackers calling themselves the Iranian Cyber Army briefly hijacked the home page of China's top search engine, Baidu Inc, on Tuesday weeks after doing the same thing to Twitter.com.
Household income in China surged in the last six years, especially for top earners, putting the country on track to eclipse the United States as the biggest consumer market in a decade, Credit Suisse said in a report on Tuesday.
China's central bank signaled in its open market operations that it was tightening monetary conditions at a faster-than-expected pace in response to increasing concerns about the economy overheating.
Ford remains opens to talks with potential bidders for its Volvo cars unit despite a commercial agreement on a sale with China's Zhejiang Geely, a Swedish business daily reported on Tuesday.
World stocks fell on Tuesday as investors digested early results from the U.S. and European earnings seasons while the dollar climbed on a Chinese view its decline has hit bottom.
Asian stocks fell on Tuesday, a day after hitting a 17-month high, on investor jitters about tighter monetary policy in China, while the dollar rose after a Chinese sovereign fund official said the currency has bottomed.
U.S. industrial shares lifted the Dow and the S&P 500 on Monday to new 15-month highs after China bolstered expectations the world economy would strengthen, but Nasdaq fell on profit-taking in tech stocks.
The stock market edged up slightly on Monday in anticipation of earnings announcements, following disappointing employment data last Friday and encouraging China trade data from today's Asian trading session.
U.S. industrial shares lifted the Dow and the S&P 500 on Monday to new 15-month highs after China bolstered expectations the world economy would strengthen, but Nasdaq fell on profit-taking in tech stocks.
U.S. technology stocks fell on Monday as investors took profits after the Nasdaq hit a 16-month high on Friday, while shares of industrials buoyed the broad market after strong Chinese economic data.
China's auto market, which overtook the United States as the world's largest earlier this year thanks to a raft of policy incentives, has been a major bright spot amid a global industry downturn.
Major powers may soon meet to discuss Iran's nuclear program, the State Department said on Monday, adding the talks could take place when U.S. Undersecretary of State William Burns travels to Moscow and Madrid this week.
