Daily News Channel
China’s economic growth surges but inflation low China’s economic growth surged to 11.9% in the first quarter, possibly giving Beijing room to allow its currency to rise, but analysts warned it faces growing pressure to cut back stimulus and keep the world’s third-largest economy from overheating. The strong performance reported Thursday might allow a loosening […]
G.M.’s $4.3 Billion Loss Masks Progress The first detailed financial report from General Motors since its bankruptcy showed a company that has largely stanched the hemorrhaging in its day-to-day business, but is still cleaning up problems left over from its collapse last year. G.M. said Wednesday that it had positive cash flow of $1 billion […]
Swiss banking giant UBS confirmed a first quarter net loss of two billion Swiss francs ($1.75 billion) Tuesday and warned that the economy had continued to deteriorate despite a rebound in global stocks. In a statement, the Zurich-based bank said its losses were attributable to writedowns on risky investments now exited or being exited by its investment bank.