South Korea said on Wednesday it had approved a plan by Samsung Electronics Co to build a flash memory chip plant in China seen costing some $4 billion, as a boom in smartphones and tablet computers fuels the chip industry's growth.
Chrysler reported a 37 percent rise in U.S. new-vehicle sales in December as the U.S. automaker finished the year with strong gains thanks to a refreshed lineup of cars and trucks.
European shares slipped from five-month highs on Wednesday, with Italy's UniCredit leading banks lower after it priced a capital increase at a deep discount, suggesting a weak appetite at a time when several lenders face capital increases.
China has publicly rejected new U.S. sanctions on Iran.
German car sales rose 6.1 percent in December as consumers brushed off an uncertain economic environment and bought more compact cars, high-margin vans and luxury saloons.
Chrysler reported a 37 percent rise in U.S. new-vehicle sales in December as the U.S. automaker finished the year with strong gains thanks to a refreshed lineup of cars and trucks.
Japan's leading share average rose to a three-week closing high on Wednesday after better-than-expected economic data from the United States and China, although strategists said the rally could stall if the euro holds below 100 yen.
China has the largest TV audience in the world -- some 95 percent of the country’s 1.3-billion people are regular watchers.
Yahoo is poised to name PayPal President Scott Thompson as chief executive after firing former CEO Carol Bartz in September, Web site AllThingsD reported, citing sources close to the situation.
Asian stocks rose on Wednesday as investor risk appetite returned after upbeat U.S. and European economic data improved the global growth outlook, but the euro's gains were short-lived due to deep-set worries over the European debt crisis.
The Chinese government is planning new policies to boost domestic consumption, especially of vehicles and appliances, in a bid to offset the effects of sagging export demand, the China Daily reported on Wednesday, quoting a government official.
Greece, deeply mired in its own financial crisis, has been highly dependent on Iranian oil because Teheran has offered debt-ridden nations attractive credit terms.
South Korea said on Wednesday it had approved a plan by Samsung Electronics Co to build a flash memory chip plant in China seen costing some $4 billion, as a boom in smartphones and tablet computers fuels the chip industry's growth.
Oil prices rose more than 4 percent on Tuesday as geopolitical tension between Iran and the West reinforced fears about potential supply disruptions, while strong Chinese and U.S. economic data fueled optimism about global demand to start 2012 trading.
Hoping for something better than 2011's flat stock market, U.S. investors pushed shares higher on Tuesday to begin the new year, though questions remain about whether a rally can be sustained.
Wall Street stocks kicked off 2012 with a rally on Tuesday after construction and factory data signaled the U.S. economic recovery was gaining steam.
After closing the book on a wild and nerve-wracking year, investors greeted the first trading day of the year with a wide rally Tuesday -- bidding up equities, commodities and other risky assets across the board.
A Chinese court is allowing a $78 million lawsuit brought against ConocoPhillips (NYSE:COP) to move forward, after having dismissed a similar lawsuit in 2011, the state-run Xinhua News Agency reported Friday. The action is being brought by local aquaculture farmers who believe their sea cucumbers were killed by the oil spill.
Wall Street stocks kicked off 2012 with a rally on Tuesday after data showed U.S. manufacturing activity and construction spending picked up, signaling the economic recovery was gaining steam.
European stocks rose to their highest close in five months on Tuesday after strong manufacturing data from the world's two biggest economies, the United States and China, boosted investor confidence and helped shift attention away from the Eurozone.
Wall Street stocks kicked off 2012 with a sharp rally on Tuesday after data showed U.S. manufacturing activity and construction spending picked up, signaling the economic recovery was gaining steam.
French oil giant Total has acquired a $2.32 billion stake in Chesapeake Energy Corporation's Utica shale region in Ohio, a move that signifies an increasing shift toward new energy sources as crude oil prices continue to rise.
