Alibaba’s incoming chief executive, Daniel Zhang, brings to his new role experience dealing with international brands and foreign investors. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml
Corruption across Latin America must be overcome or foreign investors could turn their backs on the region as it seeks to attract capital inflows, experts warn. The scourge of corruption has rocked leaders across the region, with Brazilian President Dilma Rousseff and Chilean counterpart Michelle Bachelet both embroiled by damaging graft scandals. Eduardo Leite, chairman of Baker & MacKenzie, the US-based legal giant, told a World Economic Forum on Latin America held here last week that state-owned institutions were becoming less alluring for investors. Chile has consistently been ranked as the least corrupt country in Latin America according to an annual index issued by the Transparency International graft watchdog.
MINSK, Belarus (AP) — Chinese President Xi Jinping traveled Sunday to Belarus for a three-day trip to sign deals worth billions of dollars as Beijing looks to build greater inroads into Europe’s economy.
The Cuban leader, who went to Jesuit schools as a child, says he might “resume praying and turn to the Church again” if Francis “continues in this vein.”
All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.npr.org/rss/rss.php?id=1016
TV schedulers—who decide which shows run when—continue to wield a lot of power at broadcast networks, even as Americans watch more video on demand. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml
BEIJING (AP) — China cut interest rates Sunday for the third time in six months to boost sluggish economic growth and announced that it is giving banks more flexibility in setting rates paid to depositors in a new step to make its financial system more market-oriented.
By Michael Martina and Judy Hua BEIJING (Reuters) – China cut interest rates for the third time in six months on Sunday in a bid to lower companies' borrowing costs and stoke a sputtering economy that is headed for its worst year in a quarter of a century. The People's Bank of China (PBOC) said on its website it was lowering its benchmark, one-year lending rate by 25 basis points to 5.1 percent from May 11. "China's economy is still facing relatively big downward pressure," the central bank said in a separate statement. "At the same time, the overall level of domestic prices remains low, and real interest rates are still higher than the historical average," it said.
China’s central bank said it is cutting its benchmark interest rate, its third such move since November last year amid slowing economic growth. All images and written content is property of the listed RSS FEED if you would like more on this story and images please click the listed feed. http://www.wsj.com/xml/rss/3_7014.xml
By Ross Finley LONDON (Reuters) – With optimism building that the United States is already recovering smartly from another horrible start to the year, focus will shift this week to reports that may show the euro zone is finally shaking off half a decade of torpor. The 19-member currency union has been a millstone around the global economy's neck ever since the financial crisis spawned a sovereign debt crisis particular to Europe. So it is all the more crucial for more than just its citizens suffering from years of high unemployment and feeble or no growth that Europe is able to pick up some of the slack.
An unpopular new consumption tax has handed fresh ammunition to critics of Malaysia's embattled prime minister, with angry consumers complaining it has sent some prices surging, and economists warning it could harm growth. The government on April 1 introduced the six-percent Goods and Services Tax (GST), which taxes transactions throughout the business supply chain and replaces earlier sales and service taxes on end-consumers that ranged from 6 to 10 percent. The government had said the more streamlined tax regime would lead to lower prices for many key items and boost government revenue in Southeast Asia's third-largest economy. Experts agree Malaysia's biggest tax reform in decades is necessary — fewer than three million of the country's 30 million people pay income tax, and high government debt has economists worried.