Walmart closes outlet amid difficulties in China
The world’s largest retailer, Walmart Stores (WMT, quote), on Wednesday closed an outlet in east China’s Hangzhou city, in its seventh closure in the Chinese mainland since March.
Stocks
China’s manufacturing still weakening
China’s (FXI, quote) manufacturing activity continued to contract in April, but at a slower pace, according to HSBC’s preliminary purchasing managers’ index (PMI) released on Wednesday.
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U.S. Dollar Under Pressure againts the Yen and Euro
This week market participants are getting a flurry of global economic data that has been and continues to have the potential to move the currency markets.
Are Modular Smartphones the Next Big Thing?
Google’s Project Ara wants to take the smartphone back to basics—literally. With Project Ara, the smartphone is modular: The owner can swap out everything from the battery and screen to the speakers and cameras. The device’s endoskeleton holds…
Turkey’s Prime Minister Sues His Own Country Over Twitter
As we’ve been reporting for nearly a year now, the Turkish prime minister, Recep Tayyip ErdoÃÂan, really hates Twitter. Indeed, it is arguably becoming something of an obsession for him, to the point where he has now taken the unprecedented step of…
Tesla To Power Up Across China, Says Musk
Tesla Motors Inc hopes to launch a nationwide charging and service network for its electric vehicles by as early as 2015, CEO Elon Musk said in Beijing on Monday.
Pharmaceutical Sector is On Fire
U.S. futures are suggesting a positive opening this morning. Today is the first day this week in which all global markets open after the Easter holiday. U.S. markets have found its footing last week after U.S. economic data showed signs of improving with the S&P putting its for 5 day winning streak since October.
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A&F plans over 100 new stores in China within 10 years
Clothes retailer Aber-crombie & Fitch Co (ANF, quote) plans to open more than 100 stores in China under its A&F and Hollister brands over the coming decade, ploughing a new furrow in what it calls “casual luxury.”