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Ford Motors to Leave Australia After 90 Years
Ford Motor Company announced Thursday that it would stop making cars in Australia within two years because high costs and low volumes mean it cannot compete with imported vehicles. Ford Australia chief Bob Graziano said that closing its plant in Melbourne and the other 60 kilometres further south-west in Geelong would see 1,200 workers laid off by October 2016. "Our costs are double ...
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Japan’s companies to blame for debt
Japan's government is up to its neck in debt. That, however, is not because the government has been overly profligate, but because Japanese companies have been deleveraging for a long time. If Prime Minister Shinzo Abe's policies revive private investment, the government's track record suggests it will tighten its belt.If the private sector increases savings, the government must ...
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Is Japan The New Apple
Prime Minister Shinzo Abe of Japan, Saturday, Sept. 8, 2007, in Sydney. (Photo credit: Wikipedia) Many big hedge fund investors have in recent years had a very hard time keeping up with the U.S. stock market and other financial benchmarks against which they are judged. The big market drop in Japan will probably make things even harder for some of ...
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No H7N9 virus found in poultry farms in China
/enpproperty--> BEIJING - The H7N9 bird flu virus has not been detected in poultry farms, with positive samples mainly coming from live poultry markets, China's Ministry of Agriculture (MOA) said Thursday. The MOA said it has "basically" finished collecting and testing 899,758 samples from across most parts of the country. Of the total, 53 samples were found positive with ...
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U.K.s Cameron to China India Were open for business
Prime Minister David Cameron says openness to foreign investment is competitive advantage for Britain (and Ratan Tata is always welcome at Downing ...
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World stocks slump as Japans Nikkei loses 7
Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago. Several reasons have been blamed for the 7.3 percent fall in the Nikkei index to 14,483.98, including a spike in Japanese government bond yields and unexpectedly weak Chinese manufacturing figures. Mixed messages ...
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Stephen Harper attends Pacific Alliance trade talks
The leaders of Canada and the Pacific Alliance will be sizing each other up today to see if Canada might be a good fit with the nascent Latin American trade bloc. Stephen Harper wants to see if it's worthwhile engaging in yet another round of talks to free up trade and investment. And the leaders of the Pacific Alliance -- which groups Chile, Colombia, Peru and Mexico -- want to know if ...
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Futures Movers Oil at three-week low on weak China data
SAN FRANCISCO (MarketWatch) -- Oil futures headed lower for a third session in a row on Thursday, as weak Chinese manufacturing data dulled prospects for energy demand and set prices up for their lowest close in three ...
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U.S. stocks sink at the open on Fed China fears
NEW YORK (MarketWatch) -- U.S. stocks opened with steep losses on Thursday, as fears over a tapering of the Federal Reserve's bond-buying program and weak Chinese economic data sent investors fleeing from stocks. Japanese equities plunged overnight, with the Nikkei Stock ...
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Plunge in Japans Nikkei stock index sparks global sell-off
The Dow Jones industrial average shed 107.1 points, or 0.7%, to 15,200.07 shortly after the opening bell in New York. The broader Standard & Poor's 500 index tumbled 17.77 points, or 1.1%, to 1,637.58. The technology-heavy Nasdaq was off 33.37 points, or 1%, 3,429.93. Weak Chinese manufacturing data helped send ...
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London attackers known to British security services
LONDON (Reuters) - Two British men of Nigerian descent accused of hacking a soldier to death on a London street in revenge for wars in Muslim countries were known to security services, a source close to the investigation said ...
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Fresh signs of Chinas economy fragility
Factory activity there shrank for the first time in seven months in May. The initial reading of surveys of manufacturers puts the blame on a fall in new orders. That has economists worried that the country’s recovery is stalling. The soft data is a problem for China’s top politicians, who are trying to manage the economy in such a way that there is an orderly slowdown. They also ...
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Japans Honda Kagawa picked for WCup qualifier
TOKYO - Keisuke Honda and Shinji Kagawa were picked Thursday in Japan's 26-man squad for the 2014 World Cup qualifier against Australia next month.Japan has 13 points in Group B of Asian qualifying and can clinch its fifth straight World Cup appearance with a draw against Australia on June 4 at Saitama Stadium. Australia is third with six points and needs to do well in its remaining three ...
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Exclusive China urbanization plan hits roadblock over spending fears - sources
China's plan to spend $6.5 trillion on urbanization to bolster the economy is running into snags, sources close to the government said, as top leaders fear another spending binge could push up local debt levels and inflate a property bubble. Premier Li Keqiang has rejected an urbanization proposal drafted by the National Development and Reform Commission (NDRC), seeking changes to put more ...
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Wall Street drops on stimulus plan unease China data
US stocks dropped on Thursday, with the S&P 500 on pace for its first back-to-back daily drop in a month amid investor concerns the U.S. Federal Reserve's stimulus may be scaled back sooner than hoped and after weak data in China. The S&P 500 had posted its biggest decline in three weeks on Wednesday after minutes from the latest ...
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Man killed by FBI links Tsarnaev to triple murder Report
Ibragim Todashev attacked the FBI agent with a knife just as he was about to sign a confession that he had played a role in the triple murder, local media cited investigators as ...
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London attackers were British of Nigerian origin report says
LONDON: British authorities believe that two men accused of hacking a soldier to death on a London street in revenge for wars in Muslim countries are British of Nigerian descent, a source close to the investigation said on Thursday. Local media named one of the two suspects as British-born, 28-year-old ...
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Square launches mobile payments in Japan
Square Inc. CEO Jack Dorsey. Square Inc. has announced available of its mobile-payments system in Japan, its first market outside the United States. Merchants in the country will be able to get a Square credit card reader for free and accept payments for 3.25 percent of each transaction. The company is working in a partnership with Sumitomo Mitsui Card Corp. in the country, where people have a ...
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N. Korea wants peace envoy tells China official
BEIJING (AFP) - A special envoy from North Korean leader Kim Jong-Un told one of China's top officials Thursday that Pyongyang wants peace and is willing to pursue dialogue with key countries, state media reported.Envoy Choe Ryong-Hae met Liu Yunshan, a member of the Chinese Communist Party's highest ranking body the Politburo Standing Committee, state television reported on its ...
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Not just state-sponsored China’s hacking culture thrives in corporate criminal worlds
People walk past 'Unit 61398', a secretive Chinese military unit, in the outskirts of Shanghai, Feb. 19, 2013. The unit is believed to be behind a series of hacking attacks, a U.S. computer security company said, prompting a strong denial by China and accusations that it was in fact the victim of U.S. hacking. (Carlos ...
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China Gives and China Taketh Away
report of the Commission on the Theft of American Intellectual Property asserting China is responsible for up to 80 percent of the $300 billion theft of intellectual property from companies in the Untied States and other advanced economies. The keynote speaker at the CSIS conference was China's Ambassador to Washington Cui Tiankai. The ambassador already has established a reputation for ...
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South Australia car industry workers urged to plan futures after Fords announcement
THE automotive components industry in South Australia and the 10,000-plus workers it employs have three years to plan for a more secure future, the Australian Manufacturing Workers Union says. While Ford's announcement marked a "black day for the Australian automotive industry", knee-jerk reactions were best avoided, AMWU's SA secretary John Camillo said. "For the ...
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Holden pleads for help as Ford closes shop in Australia
HOLDEN says it still plans to build cars in Adelaide until at least 2022 but warns "swift action" is needed from political leaders to ensure the Australian auto industry remains viable. The partial reassurance follows Ford's bombshell announcement that it will stop making cars at its two Victorian plants from 2016, ending 90 years of manufacturing in Australia. Holden vowed to ...
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North Korea ready for dialogue with parties concerned over Korean Peninsula issues
BEIJING, May 23 (Itar-Tass) - North Korea values highly the efforts, which China is taking to preserve peace and stability on the Korean Peninsula, special envoy of the North Korean leader and head of the General Political Department of the Korean People’s Army Choe Ryong Hae said at a meeting with member of the Standing Committee of the Political Bureau of the Central Committee of the ...
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Boeing 787s entry to China cleared
The Civil Aviation Administration of China (CAAC) issued a certification for the Boeing 787 Dreamliner Thursday, a milestone for the 787 to begin commercial service in China.The CAAC presented Boeing with a Validation of Type Certification (VTC), indicating that the design of the 787 Dreamliner is compliant with China's aviation regulations and that China endorses the original type ...
China Digest
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Chinese shipping industry is not the only one causing environmental incidents
The recent highly publicized grounding of a Chinese bulk carrier on the Great Barrier Reef in Australia attracted the scrutiny of the world on the Chinese shipping industry with some commentators saying that the accident was indicative of a dysfunctional health and safety record throughout the industry in China.
China’s shipping industry is primarily made up of the state-owned and run COSCO (China Ocean Shipping Company), and it is this company to whom the Shen Neng 1 belongs. The Shen Neng 1 is not the only COSCO ship to be involved in a notable maritime accident. Read more
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