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IMF’s Lagarde says markets need clarity on China currency

Financial markets need more clarity on how the Chinese authorities are managing their currency, particularly the relationship of the yuan to the U.S. dollar, IMF Managing Director Christine Lagarde said on Saturday. Asked at a… More: IMF’s Lagarde says markets need clarity on China currency  Read More →

VW China Chief: ‘volume isn’t everything’ in contest with GM

Volkswagen AG's China chief said on Saturday he's optimistic in the company's outlook for this year, saying “volume isn't everything” in the competition with General Motors Co to lead the Original post: VW China Chief: ‘volume isn’t everything’ in contest with GM  Read More →

JPMorgan raises Dimon’s pay 35 percent, but adds strings

JPMorgan Chase & Co directors raised Chief Executive Jamie Dimon's total compensation by 35 percent to $27 million for 2015, a regulatory filing on Thursday showed. The company pegged Dimon's base salary at $1.5 million, the More:  JPMorgan raises Dimon’s pay 35 percent, but adds strings  Read More →

Drug exec Shkreli, lawmakers clash ahead of congressional hearing

Former pharmaceutical executive Martin Shkreli was on a collision course with Congress on Thursday as lawmakers warned he could be prosecuted for contempt if he does not appear next week for a hearing about drug prices. A lawyer for Shkreli… Go here to see the original: Drug exec Shkreli, lawmakers clash ahead of congressional hearing  Read More →

Insight: Electric vehicle sales fall far short of Obama goal

By David Shepardson and Bernie Woodall DETROIT (Reuters) – Back in 2008, with gas prices averaging nearly $4 a gallon, President Barack Obama set a goal of getting one million plug-in electric vehicles on the roads by 2015. The Chevy Bolt promises a breakthrough on both fronts, with a 200-mile range and a price starting at about $30,000 – after government incentives. Original post: Insight:... [Read more]

Oil below $30 fans wipeout fears among U.S. shale survival artists

By Terry Wade and Anna Driver YORKTOWN, Texas (Reuters) – Across oil fields from Texas to North Dakota fears are growing that crude's plunge below $30 a barrel is more than just another market milestone and marks a countdown to an endgame for many shale producers that so far have braved the 18-month downturn. Oil prices tumbled by more than a fifth this month to 12-year lows 70 percent... [Read more]

Taxi drivers in Hungary demand Uber to be shut down

Taxi drivers in Hungary's capital demonstrated on Monday against ride-hailing service Uber, whose growing popularity they find unpalatable amid new regulations setting a fixed tariff for traditional taxi firms that is higher than Uber's. Taxis blocked a major road crossing in central Budapest and drove around in city streets blocking much of the road traffic in the capital's center.... [Read more]

OPEC sees oil market rebalancing in 2016, but Iran to counter non-OPEC decline

OPEC forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the collapse in prices, boosting the need for crude from the producer group. Supply outside the Organization of the Petroleum Exporting Countries (OPEC) would decline by 660,000 barrels per day (bpd) in 2016, led by the United States, OPEC said in a View original here: OPEC sees... [Read more]

Oil slumps below $28 to 2003 low as Iran sanctions lifted

Oil prices slumped to a 2003 low below $28 per barrel on Monday as the market anticipated a rise in Iranian exports after the lifting of sanctions against Tehran over the weekend. Responding to Tehran's compliance with a nuclear deal, the … Read the rest here:  Oil slumps below $28 to 2003 low as Iran sanctions lifted  Read More →

China’s economy grew by around 7 percent in 2015, services made up half of GDP – Premier

China's gross domestic product (GDP) totaled more than $10 trillion in 2015 and the economy grew by around 7 percent, with the services sector accounting for half of GDP, Premier Li Read the original post:  China’s economy grew by around 7 percent in 2015, services made up half of GDP – Premier  Read More →

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