Starbucks Corp.: China Will Be 2nd Largest Market by 2014
Starbucks Corporation (NASDAQ:SBUX), the world’s largest coffee-shop chain, is planning to further tap into the massive Chinese market and triple the size of its workforce and local network of shops by 2014.
China PMI Paints Mixed Manufacturing Picture
China's official manufacturing purchasing managers’ index, a gauge of manufacturing sector performance, unexpectedly jumped to the highest level in a year, while a rival index by HSBC showed further weakening in the sector.
Nonfarm Payroll Report, FOMC Minutes: This Week’s Economic Events
The U.S. nonfarm payroll report on Friday will highlight the economic calendar this week -- April 2 to 6 -- even though it will be released on Good Friday when the stock market is closed.
US Personal Spending Rose 0.8%, Most In 7 Months
Americans spent their hard-earned money a bit more freely in February, the most in seven months, even as income rose only modestly, according to government data released Friday.
Gold Price Manipulation: Bullion, Gold Stocks Undervalued - Report
Some industry experts warned that the gold price has been artificially suppressed due to its strong impact on interest rates and government bond values, leaving many gold equities significantly undervalued.
Jobless Claims Fall To 359,000, Lowest Level Since April 2008
Claims for jobless benefits fell to 359,000, but Federal Reserve Chairman Ben Bernanke warned this week that recently improved employment data seem out of sync with the pace of U.S. economic growth.
Stocks Tank on Lackluster Data, Commodities: Daily Markets Wrap
Stocks fell Wednesday as investors were disappointed by a weaker-than-expected reading on durable goods orders, while a plunge in oil prices dragged energy and material shares lower.
US Housing Outlook Brightens: Urban Land Institute
Experts believe 2012 could mark the beginning of a turnaround for the housing industry, albeit a slow one.
U.S. Mortgage Applications Decline 2.7%: MBA
U.S. mortgage applications declined 2.7 percent in the week ending March 23, according to the Mortgage Bankers Association.
US Durable Goods Orders Up 2.2% in Feb, Less Than Expected
Orders for long-lasting goods rebounded in February from a deep 3.6 percent drop in January as demand for aircraft surged, the government said Wednesday.
Central Atlantic Manufacturing Grows But At Slower Pace
Factory output in the central Atlantic region of the U.S. expanded in March for the fourth straight month, but at a more temperate pace than a month ago, the Federal Reserve Bank of Richmond reported Tuesday.
Sumitomo Metal Mining Finds New Gold Deposit in Alaska
Sumitomo Metal Mining Co., Ltd. (TYO:5713), a major Japanese non-ferrous metal miner, said Tuesday it has discovered a new gold deposit containing about 40 metric tons of gold at its Pogo mine in Alaska.
Wall Street Cheers Bernanke Comments: Daily Markets Wrap
Stocks surged Monday after Federal Reserve Chairman Ben Bernanke suggested the U.S. central bank would continue its present monetary policies and keep interest rates low, offsetting soft readings on the domestic economy.
China Banking Outlook: Profits Marred By Bad Loans
After years of strong growth, China's biggest banks could face a slump in 2012. Analysts warned that an economic slowdown could trigger defaults by real estate developers and the increase in bad loans would erode Chinese banks' profitability this year.
Qantas, China Eastern Launch Low-Cost Hong Kong Airline
Qantas Airways Ltd. and China Eastern Airlines Corp., are teaming up to launch Hong Kong's first budget airline in a bid to cash in on the fast-growing Chinese aviation market.
Bernanke Warns US Job Market Weak Despite Gains
The Fed chairman said U.S. job market conditions remain weak despite three months of strong hiring and that the improved employment data seem to be out of sync with the overall pace of economic growth.
This Week’s Economic Events: Bevy Of Fed Speakers
This week - March 26 to 30 - will highlight Wednesday's durable goods report and a busy policy calendar, including the core of the Federal Open Market Committee: Chairman Ben Bernanke and New York Fed President William Dudley. Wall Street will be closely monitoring the Fed officials' speeches, hoping to find clues of their latest views on the economic, inflation and policy outlooks.
VW Hiring 800 More At Tenn. Plant; UAW Aims To Organize Plant's Workers
Volkswagen AG said Thursday it will create 800 more jobs at its only U.S. plant to ramp up production of the Passat sedan. Meanwhile, the United Auto Workers has launched a drive to unionize workers at the plant.
Weak China, Euro Zone Data Dent Stocks: Daily Markets Wrap
Stocks took a big step back Thursday after more signs pointing to weakening economic conditions in China and Europe spooked investors to make a run for safety.
China Manufacturing Falters In March: HSBC PMI Shows
China's factory activities slumped for the fifth consecutive month as weakening domestic demand continued to weigh on growth. Spooked investors moved quickly out of riskier assets while hoping for further easing from Beijing.
Jobless Claims Fall To 348,000, Lowest Level Since Feb. 2008
Claims for jobless benefits fell to a four-year low of 348,000, a sign that the labor market recovery is picking up steam.
Royal Dutch Shell, CNPC Ink First Chinese Shale Gas Production-Sharing Deal
Royal Dutch Shell Plc (NYSE:RDS) signed Wednesday the first-ever production sharing contract with China's state-owned China National Petroleum Corp., or CNPC, as the world's second largest economy seeks to develop its untapped reserves, similar to those that gave rise to the U.S. natural gas boom, with the help of foreign technology.
US Housing Starts Unexpectedly Fall 1.1% in Feb, Permits Up
U.S. home construction unexpectedly fell 1.1 percent in February from a three-year high even with the help of warmer-than-normal weather in the month, but new building permits jumped to their highest level since October 2008.
China’s Home Prices Fall In Half Of Key Cities
Home prices in nearly half of China's major cities fell in February from the year-ago period, as Beijing showed its determination to tame the property market.
China To Raise Fuel Prices Amid Easing Inflation
China will raise its heavily regulated retail gasoline and diesel prices Tuesday by 6.4 percent and 7 percent, respectively, marking the biggest increase in 33 months, according to the National Development and Reform Commission.
Moody’s Could Downgrade Global Investment Banks: Nomura
U.S. and European investment banks may face headline risk again from credit ratings downgrades by Moody's Investors Service Inc. in the coming weeks, Nomura Securities warned Monday.
Fed's Dudley: Dovish Tone Rekindles Hope Of QE3
The head of the Federal Reserve's New York branch said the U.S. economy isn't in the clear yet, but recent data have been a bit more upbeat, giving investors renewed hope of a fresh round of quantitative easing.
This Week’s Economic Tape: Housing Data, Fed Speakers Abound
Reports on February housing data begin with housing starts Tuesday, followed by existing- and new-home sales. With U.S. data in the mainly second tier, Treasury yields will be subject to Fed watching with speeches by the central bank chairman and heads of its New York and Minneapolis branches.
UPS Still In Takeover Talks With TNT Express
U.S. delivery company United Parcel Service Inc. (NYSE:UPS) said Friday it is in constructive talks to buy Dutch rival TNT Express NV and reiterated its intention to make a formal bid by May 12.
US Consumer Price Index Rose 0.4% in Feb. on Surging Gasoline
The cost of living in the U.S. rose to a 10-month high in February on the back of soaring gasoline prices, government data showed Friday.
