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Japan should shun option of 2020 rise in CO2: U.N.

Japan should shun a politically inexplicable option of a rise in greenhouse gas emissions when it sets a 2020 target in coming days, the U.N.'s top climate change official said on Wednesday.

GM strikes Hummer deal with China machinery maker

General Motors Corp said on Tuesday it reached a tentative deal to sell its Hummer brand to a privately held Chinese heavy machinery maker, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company.

Veil lifted on GM’s Hummer buyer, China-based Tengzhong

A brief veil of anonymity has been lifted for the likely new owner of General Motors Corp’s Hummer brand. The American automaker and China-based Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd announced Tuesday they have reached a preliminary agreement that will retain the brand’s current management, operational team and U.S. headquarters.

China blocks Twitter service ahead of anniversary

Access to the popular social networking service Twitter and email service Hotmail was blocked across mainland China on Tuesday afternoon, two days before the 20th anniversary of the bloody Tiananmen Square crackdown.

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U.S. climate bill best bet to take enviro lead: Chu

The U.S. climate change bill making its way through Congress is the best legislative bet to help the country take the lead in tackling global warming on the world stage, U.S. Energy Secretary Steven Chu said on Monday.

Exclusive: Global consumer confidence stabilizing

Global consumer confidence is stabilizing after falling for 18 months, providing a glimmer of hope for a shattered world economy in which three quarters of households cut spending, a survey showed on Tuesday.

China anger with North Korea echoes in the press

The top item on the Chinese website of Beijing's embassy in Pyongyang is a condemnation of North Korea's nuclear test.

GM

General Motors Corp is about to open the door on the biggest garage sale in U.S. industrial history.

GM yard sale to take time, yield little

General Motors Corp is about to open the door on the biggest garage sale in U.S. industrial history.

Abu Dhabi makes $2.5 billion from Barclays stake sale

Abu Dhabi sold an 11 percent stake in Barclays on Tuesday, making $2.5 billion from an investment that helped the British bank through the financial crisis and raising fears that the rally in bank shares may be over.

Abu Dhabi set for windfall on Barclays stake sale

Abu Dhabi on Tuesday sold about 3.5 billion pounds ($5.7 billion) of shares in UK bank Barclays , traders said, to reap a near 1.5 billion pound profit in just seven months.

Geithner sees China backing U.S. policy, dollar

Chinese officials are giving U.S. efforts to pump up its ailing economy a vote of confidence and understand why higher budget deficits are a temporary necessity, U.S. Treasury Secretary Timothy Geithner said on Tuesday.

Chinese love for cars measured with efficiency

China's energy policymakers have lately been thinking a lot about drivers like 24-year-old Cindy Chen, who chose a larger German Opel over smaller, more fuel-efficient models when she bought her first car in March.

China warms to greener refrigerators and air-cons

China aims to save 75 terawatt hours of power per year, the equivalent of 75 million metric tons of carbon dioxide, by promoting energy-efficient air-conditioners and other home appliances.

Oil falls below $68 from seven-month high

Oil fell below $68 a barrel on Tuesday as prices slipped from a sharp rally to a seven-month high in the previous day.

Samsung-Sony venture starts $1.5 billion LCD line

A flat-screen joint venture between Samsung Electronics Co Ltd and Sony Corp said on Tuesday it began volume production at a new manufacturing facility that took $1.5 billion to build.

Oil falls below $68 after day-ago jump

Oil fell nearly $1 to below $68 a barrel on Tuesday as investors took profit from a jump of more than 3 percent a day earlier, but analysts said sentiment remained bullish amid growing signs of economic recovery.

Asian shares hit 2009 high on recovery hopes

Improving global manufacturing data lifted Asian shares on Tuesday near levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors pondered how much longer a heady three-month rally will last.

Asia shares extend rally, hope worst is over

Improving global manufacturing data lifted Asian shares on Tuesday, bringing a regional index near to levels before the collapse of Lehman Brothers in September, but the pace of gains slowed as investors weighed how much longer a heady, three-month rally will last.

Asian shares extend rally on signs worst is over

Oil falls after 3-percent jump, holds above $68

Oil fell on Tuesday but held above $68 a barrel as investors took profit from a jump of more than 3 percent a day earlier, spurred by hopes of economic recovery on the back of improving factory activity.

Exxon sticks to fossil fuels in near term despite alt energy push in U.S.

Exxon Mobil Corp, the world’s largest traded oil and natural gas company, is keeping fossil fuels as part of its primary strategy for the near term despite a growing U.S. government push for alternative energy sources with less impact on climate change, the company’s chief executive said recently.

Wall Street jumps on recovery bets and GM; AmEx off late

U.S. stocks rose on Monday, sending the S&P 500 to its highest close in seven months, as reassuring economic data reinforced hopes that demand will stabilize, while General Motors' long-expected bankruptcy filing ended uncertainty about the automaker's fate.

U.S. manufacturing shrinks at slower pace in May

The U.S. manufacturing sector showed improvement in May, contracting at a slower rate for the fifth straight month, while consumer spending slipped only slightly in April, according to reports Monday that offered more proof the deep recession is losing its bite.

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