The U.S. dollar fell against emerging market currencies in Asia on Wednesday as worries over China's economy faded and investors awaited fresh input from the Federal Reserve on its timeline for an interest rate hike.
The Malaysian ringgit and the Indonesian rupiah booked solid gains against the greenback as a commodity price recovery pushed equity markets into positive territory.Full Story
German top-of-the-range carmaker BMW said Tuesday it was on track to meet its full-year sales and profits targets, but that the slowing Chinese economy and the precarious state of the Russian market posed challenges for the future.
BMW "can look ahead confidently to the remainder of the current financial year and reaffirms its targets for the full year," the company said in a statement.Full Story
U.S. video game producer Activision Blizzard announced late Monday that it was buying King Digital Entertainment, best known for its "Candy Crush Saga" mobile game, for $5.9 billion.
Activision Blizzard, which produces such games as "Call of Duty," said in a statement the purchase "will create one of the largest global entertainment networks with over half a billion combined monthly active users in 196 countries."Full Story
Asia-focused British bank Standard Chartered said Tuesday it would axe 15,000 jobs and raise $5.1 billion in capital after posting a "disappointing" third-quarter loss as it struggles to return to growth.
The job losses are part of a major restructuring that will cost around $3 billion, the bank said.Full Story
To understand why the world's biggest brewer, the Belgian giant AB InBev, is tying up with rival SAB Miller look no further than a modest craft brewery tucked away in a working class Brussels district.
Brasserie de la Senne was founded in 2003 and churns out only a fraction of the hundreds of beer brands owned by AB InBev, which is headquartered in the Flanders town of Louvain, 20 kilometers (14 miles) away.Full Story
TransCanada asked the United States on Monday to suspend its review of the proposed Keystone XL pipeline in a move that might delay a decision until the U.S. presidential election.
Environmentalists rushed to urge President Barack Obama to refuse the company's request and instead end once and for all the project to carry oil from Canada through the United States to the Gulf of Mexico.Full Story
The Volkswagen emissions-cheating scandal widened Monday when U.S. regulators said the German automaker also included illegal "defeat devices" on its larger 3.0 liter diesel engines during the past three years.
Volkswagen had already admitted including the software, which cheats pollution tests, in its smaller 2.0 liter diesels equipped in some 11 million 2009-2015 model year cars worldwide.Full Story
Japan's Nissan on Monday boosted its full-year forecasts, citing new model rollouts along with upbeat sales in North America and Europe that offset weakness in the home market.
The Altima sedan maker said it would post a record net profit of 535 billion yen ($4.5 billion) in the fiscal year to March 2016, up about 17 percent from the year-earlier result, while operating profit and sales would also come in higher than forecast.Full Story
HSBC saw pre-tax profit surge 32 percent year on year in the third quarter on the back of lower fines the banking giant announced Monday, but revenue dropped in the wake of Asian market volatility.
Group chief executive Stuart Gulliver said the performance was "resilient" but that revenue had been affected by stock market sell-offs in Asia, with revenue down four percent.Full Story
The Turkish lira and stocks soared on Monday after President Recep Tayyip Erdogan's Justice and Development Party (AKP) was returned to power in a stunning weekend election victory, but analysts warn the rebound may be shortlived.
The lira jumped almost four percent to 2.79 to the dollar in early afternoon trade, after earlier gaining 4.4 percent in the morning to its highest level in seven years.Full Story