China sees auto sales soar

China’s passenger-vehicle market had its strongest start since 2010, while sales in India shrank for a third month, illustrating the contrast in automobile demand in the world’s two most populous nations. China’s wholesale deliveries of cars, multipurpose and sport-utility vehicles, rose 20 percent to 2.84 million units in January and February, according to the China Association of Automobile Manufacturers. India’s passenger vehicle deliveries in the same period fell 11 percent to 468,914 units,

March 12, 2013

Greece affected by Cyprus crisis: P.M.

ATHENS (AFP) ― Economic problems in Cyprus “directly” affect struggling Greece and the traditional allies will coordinate policies ahead of a European eurozone summit later this week, Greek Prime Minister Antonis Samaras said on Monday.“It is our common desire to strengthen coordination as our policies are characterised by shared views,” Samaras said after meeting with newly-elected Cyprus President Nicos Anastasiades.“Our relation with Cyprus is fraternal, nobody should forget that,” said Samar

March 12, 2013

Compact SUVs made in France as Peugeot and Renault catch up

Europeans bought 335,480 small sport-utility vehicles last year. None of them were built by French automakers. PSA Peugeot Citroen and Renault SA aim to change that with new models that they say will help them woo younger drivers ― and gain a foothold in a segment that has grown 45 percent since 2007 and that analysts expect to more than double by 2016. At the Geneva Motor Show this week, Renault is showing the Captur, a multi-purpose vehicle that extends a design renewal that started with the n

March 11, 2013

U.S., Taiwan wrap first trade talks since 2007

TAIPEI (AFP) ― Taiwan and the United States agreed to further strengthen economic ties on Sunday as they concluded their stalled trade talks ― the first since 2007 ― in Taipei.The meeting was seen as part of growing efforts by the trade-reliant island to break political barriers and sign free trade agreements to avoid being marginalised by a growing number of regional economic blocs.After the Trade and Investment Framework Agreement talks, Taiwan and the U.S. agreed to issue two joint statements

March 11, 2013

Time spin-off highlights risks facing magazines

LOS ANGELES (AP) ― From Sports Illustrated to People to its namesake magazine, Time Inc., was always an innovator. But now when the troubled magazine industry is facing its greatest challenge, the company Henry Luce founded is struggling to find its way in a digital world. Time Warner Inc.’s decision to shed its Time Inc. magazine unit last week underscores the challenges facing an industry that remains wedded to glossy paper even as the use of tablet computers, e-readers and smartphones explode

March 11, 2013

Fujifilm poised to aid MS vs. Apple

Fujifilm Holdings Corp., a company better known for cameras and film, could help Microsoft Corp. and the personal-computer industry fight back against Apple Inc. Fujifilm is using its experience with silver to create bigger and more affordable touch-screen displays. Laptops and desktops sporting large touch-responsive panels are costly to produce because the sensors are made of a rare and brittle material called indium tin oxide, or ITO. Fujifilm and other companies, including Atmel Corp. and Un

March 11, 2013

Large anti-austerity protests in Spain

MADRID (AP) ― Tens of thousands of demonstrators marched in dozens of Spanish cities on Sunday to protest sky-high unemployment, what they say is the government’s inefficient handling of the economy and corruption scandals. Many protesters carried placards critical of Prime Minister Mariano Rajoy’s ruling Popular Party, which is immersed in a corruption investigation centered on former treasurer Luis Barcenas and alleged under-the-table payments to party officials while in opposition. King Juan

March 11, 2013

‘BOJ will consider buying derivatives’

Bank of Japan governor nominee Haruhiko Kuroda said that the central bank will consider buying derivatives if he’s confirmed as governor and signaled a readiness for a quick expansion in monetary stimulus. “We will carefully consider such a proposal,” Kuroda, the Asian Development Bank chief, said in response to a lawmaker’s question in his second Diet confirmation hearing Monday. “There are opinions on whether it is a good or bad idea to enter the derivatives market to buy assets such as swaps,

March 11, 2013

China inflation up, factory output slow

BEIJING (AFP) ― Chinese inflation hit a 10-month high in February while growth in industrial production and retail sales slowed, official data showed on Saturday, complicating policymakers’ efforts to boost recovery.Growth in the world’s second-largest economy slowed to a 13-year low of 7.8 percent in 2012, though a pick-up in the final three months had raised hopes for a rebound this year.The consumer price index ― a main gauge of inflation ― rose 3.2 percent year-on-year in February, according

March 10, 2013

U.S. job gains cut unemployment to 7.7%

WASHINGTON (AP) ― The American job market isn’t just growing. It’s accelerating.Employers added 236,000 jobs in February and drove down the unemployment rate to 7.7 percent, its lowest level in more than four years. The gains signal that companies are confident enough in the economy to intensify hiring even in the face of tax increases and government spending cuts.Last month capped a fourth-month hiring spree in which employers have added an average of 205,000 jobs a month. The hiring has been f

March 10, 2013

Fed says top banks stronger

WASHINGTON (AP) ― All but one of the nation’s 18 largest banks are more prepared to withstand a severe U.S. recession and a global downturn than at any time since the 2008 financial crisis, the Federal Reserve says.Results of the Fed’s annual “stress tests” showed Thursday that as a group, the 18 banks hold fewer bad loans compared with last year, thanks to a stronger economy. The Fed will announce next week whether it will approve the banks’ plans to issue dividends or repurchase shares.The Fed

March 8, 2013