German retail sales decline in June
FRANKFURT: Retail sales in Germany declined for the third month in a row in June, confounding analysts' expectations for a slight rise, official data showed on Tuesday.
Asian markets rise again on stimulus hopes
HONG KONG: Asian markets were generally higher Tuesday, their third consecutive positive session, as traders looked for new stimulus measures from European and US central banks.
German unemployment rises in July
FRANKFURT: Unemployment in Germany rose in July as uncertainty over the eurozone debt crisis begins to make itself felt on the labour market, official data showed on Tuesday.
India to name new finance minister
NEW DELHI: India's Home Minister P. Chidambaram is likely to switch to finance minister this week, stepping into the key role at a difficult time for the once-booming economy, reports said on Tuesday.
Litigation costs prove headache for Bayer
FRANKFURT: Bayer, the German maker of Aspirin, said litigation costs connected with its Yasmin oral contraceptive hit its bottom line in the second quarter but it remained confident for the full year.
Panasonic swings back to profit
TOKYO: Struggling Panasonic said Tuesday it swung back into the black for the April-June quarter as it cut costs to restructure its business while battling the negative effects of a strong yen.
India keeps key interest rate on hold
MUMBAI: India's central bank kept its key interest rates unchanged on Tuesday as predicted, but it delivered bleak forecasts for the slowing economy and warned about the country's deficits.
Taiwan's economy contracts 0.16% in Q2
TAIPEI: Taiwan's economy shrank by 0.16 percent in the second quarter from a year ago, the first contraction in nearly three years, as the island was hit by weak export markets, according to the government.
Philippines to offer China-claimed oil prospects
MANILA: The Philippines will offer three oil and gas exploration contracts in the disputed South China Sea later on Tuesday, including two in areas claimed by China, an official said.
Jury picked in blockbuster Apple-Samsung case
SAN JOSE, California: A 10-member jury was chosen on Monday to hear the Silicon Valley blockbuster trial with Apple and Samsung battling over patent infringement for hot-selling smartphones and tablet computers.
Chinese bids welcomed in US$42b Australian asset sale
SYDNEY: Chinese state-owned firms will be welcome to buy Australian government assets in an upcoming sale worth more than A$40 billion (US$42 billion), a top official said Tuesday amid calls for broader ties.
Eurozone must take 'decisive' measures, says Obama
NEW YORK: US President Barack Obama said Monday that the eurozone is not buckling under the weight of the debt crisis, but that "decisive steps" have yet to be taken.
Manchester United eyes over US$300m in Wall Street IPO
NEW YORK: Popular British football (soccer) team Manchester United announced Monday that it hopes to earn over $300 million in its proposed IPO on Wall Street.
S. Korea factory output shrinks month-on-month
SEOUL: South Korea's industrial output fell month-on-month in June for the first time since March as the global slowdown took its toll on the export-led economy, figures showed Tuesday.