CHINA

Struggling Saab wins reprieve, eyes job cuts

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Struggling car maker Saab launched a cost-cutting plan to secure its survival on Wednesday after a court gave it temporary protection from creditors while the company waits for long-term Chinese investment to come through.

Emerging powers can play vital world role: Brazil

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The president of Brazil, Dilma Rousseff, on Wednesday told the United Nations that fast-growing emerging economies can play a vital role to help stem the global economic crisis, marking the latest move by developing countries to become the equals of the world's traditional powers.
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Gold Falls on Profit Taking Ahead of Fed Announcement

Gold fell on Wednesday as investors booked profits on the metal's rally earlier in the day ahead of the outcome of a Federal Reserve policy meeting that many hope will confirm the central bank's strategy to kick-start U.S. growth.
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Chinese Firm Launches Second Kyrgyzstani Gold Mine

Kyrgyzstan launched its second foreign-run gold mine on Wednesday after the Chinese owners settled a dispute with local residents, raising hopes that bigger projects could follow in the Central Asian state.
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Struggling Saab wins reprieve

Struggling car maker Saab gained fresh breathing room in its fight for survival on Wednesday when it won a court appeal to be granted protection from creditors while it awaits Chinese investment.
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Opel labor rep says SAIC should get Opel stake

Opel's labor chief called for U.S. carmaker General Motors Co to offer shares in Opel to its joint venture partner Shanghai Automotive Industry Corporation in a renewed push for more independence.
Greenspan listens to opening statements as he testifies before the Financial Crisis Inquiry Commission hearing on Capitol Hill

BRIC Help for Euro Zone Has Echoes of 1998

The world's giant emerging economies have no magic wand to resolve the euro zone's debt problems, but a contribution to its stabilization could still prove powerful, help avert market panic and reap significant non-financial rewards.
China Back Apple in Patent War: Country Grants 40 New Patents Protecting iPhone, iPad

Apple Granted 40 Patents in China: Report

Apple Inc has been granted 40 patents in China, which will help the maker of iPhones and iPads gain more intellectual property protection in the country, the China Daily reported on Wednesday.
Gold block

Gold Steady Above $1,800 as Traders Await Fed News

Gold held steady above $1,800 an ounce on Wednesday ahead of the outcome of a Federal Reserve policy meeting at which the U.S. central bank is expected to unveil its next steps to revive the world's largest economy.
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GM CEO clearly concerned about U.S. recession risk

Pent-up car demand in the United States and slowing, but still growing sales in China, should soften concerns about the ability of General Motors Co to weather a recession, the company's chief executive said.
A sign at the entrance to the headquarters of bankrupt Solyndra LLC is shown in Fremont

House Republicans Step Up Probe into Energy Loans

Republican lawmakers are stepping up their investigation into alternative energy loan programs in the wake of the collapse of the Solyndra solar company, the first company to receive such government funding.
People wait in line to enter a job fair in New York

2.8 Million U.S. Jobs Lost Since China Joined WTO: Study

About 2.8 million jobs, both in manufacturing and high-tech fields, have been lost as a result of the growing U.S. trade deficit with China since Beijing's entry into the World Trade Organization in 2001, said an EPI study, which was denounced immediately by the US-China Joint Business Council.
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Quanta says Taiwan staff down as client orders fall

Quanta Computer Inc, the world's largest PC contract maker, said on Wednesday that employees at its Taiwan production line number less than 2,000, down from about 3,000 in the first half, following a decline in client orders.
The Bird Flu Strikes Again

New Bird Flu Outbreak Reported in India

Authorities in eastern India will start culling chickens and destroying eggs to contain a new outbreak of H5 bird flu, the government said in a statement on Tuesday, as a mutant strain of the virus is spreading elsewhere in Asia.
220 kg gold block

Gold to Clear $2,000 in 2012 as Rally Cools: Poll

Gold's rally will extend beyond $2,000 an ounce in the next year, but won't match the torrid record-breaking climb of the last 12 months, according to gold investors and analysts attending the London Bullion Market Association's (LBMA) annual conference.
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Japan exports disappoint, could weaken further

Japan's exports rose in the year to August at less than half the pace expected as a global economic slowdown, a strong currency and Europe's sovereign debt crisis put Japan's own recovery increasingly in doubt.
Pedestrians walk outside a bank

IMF Sees 2011 Global Growth Slowdown, Risk of Developed World Double-Dip Recession

Strong policies are urgently needed to increase economic growth and reduce the risk of a double-dip recession in the developed world, the International Monetary Fund (IMF) said in its revised World Economic Outlook. The IMF also decreased its 2011 global GDP growth forecast to 4 percent, down 0.3 percentage points from the June 2011 forecast.
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IMF calls on Europe to get act together on debt

Europe needs to get its act together and deal with its worsening sovereign debt crisis, the International Monetary Fund said on Tuesday, warning of the risk of severe repercussions for global growth.

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