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China Splurges on World's Biggest Online Shopping Spree

Chinese Internet users spent billions of dollars in the planet's biggest online shopping splurge Wednesday, as "Singles Day" hit new heights, despite slowing growth in the world's second-largest economy.

The cumulative national bill for the day-long orgy of commerce dwarfed what Americans spent online over the five-day frenzy from Thanksgiving to Cyber Monday last year.

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Boeing Breaks Contract with 737 MAX Part Supplier

Boeing said Tuesday that it had canceled a contract with the Britain-based supplier of a part for its new 737 MAX airliner, but confirmed the first deliveries of the planes for 2017.

GKN PLC was responsible for supplying parts for the thrust reverser, the device that slows the airplane on landing, but Boeing will "change the design of the 737 MAX thrust reverser inner wall," spokesman Doug Adler told Agence France Presse.

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China Markets Rally after Disappointing Industrial Data

Shanghai stocks managed to lead a regional advance on Wednesday as more Chinese figures indicating weakness in the world's number two economy spurred hopes Beijing will unveil more measures to spur growth.

The broadly positive mood on trading floors also helped emerging currencies recover slightly against the dollar after rallying since Friday's U.S. jobs data ramped up expectations the Federal Reserve will hike interest rates this year.

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Kremlin Says Russia Air Links with Egypt to be Cut for Several Months

Air links between Russia and Egypt will be cut for at least several months after last month's air crash in which 224 died, the Kremlin's chief of staff said Tuesday.

"It's for a long time. For how long, I can't say, but I think for several months, at least," the Kremlin chief of staff Sergei Ivanov told journalists in Helsinki, quoted by Interfax news agency.

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France Expects 'Lacklustre' Economic Performance into 2016

France's economy minister said on Tuesday that his country's economy is "lacklustre" and will probably remain so in 2016.

The French economy is still on track to grow by between 1 and 1.2 percent in 2015, he told Europe 1 radio.

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Dollar Dips in Asia after Taking Pause in Rate-Driven Jump

The dollar edged lower on Tuesday, taking a breather from its strengthening pace after last week's blockbuster U.S. jobs report that firmed the case for a Federal Reserve interest rate increase this year.

High-yielding emerging market currencies were mixed against the greenback after suffering big losses on speculation over U.S. rate moves.

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Oil Prices Edge up in Asia, Eyes on U.S. Stockpiles Report

Oil prices edged up Tuesday after retreating the previous day but gains were tempered by long-running worries about a supply glut and a weak global economic outlook.

The black gold retreated Monday after a weekend report from China, the world's second biggest economy and number-one energy use, showed exports and imports -- particularly of crude --tumbled last month.

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China to Push Alternative Trade Pact at APEC

China will seek to push its own vision of an Asia-Pacific trade pact at a regional summit next week, senior officials said Tuesday, just weeks after the release of a rival U.S.-led deal that pointedly excludes the Asian giant.

Beijing sought to promote the Free Trade Area of the Asia-Pacific (FTAAP) at last year's Asia-Pacific Economic Cooperation (APEC) summit, which it hosted.

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Eurozone to Deny Greece Bailout Cash

Eurozone finance ministers were set to withhold two billion euros from Greece's huge bailout at a meeting on Monday, European sources said, as tensions resurfaced just months after Athens narrowly avoided a euro exit.

Athens has failed to meet strict reform commitments, with differences over foreclosure rules as the leftist government of Prime Minister Alexis Tsipras insists on protections for low-income homeowners, officials said.

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UAE Buys Saab Surveillance Planes in $1.27 bln Deal

The United Arab Emirates Air Force announced Monday a $1.27-billion deal with Swedish defense giant Saab to purchase two surveillance planes and upgrade two others.

The two new aircraft are Global 6000 surveillance planes, while the old planes to be upgraded are part of the UAE's fleet of Saab 340s, said Major General Abdullah al-Hashimi at a joint press conference at the Dubai Airshow.

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