介绍:
China's May HSBC services PMI eases to four-month low of 50.7
A private survey shows that growth in China's services sector retreated to a four-month low in May.
The services purchasing managers' index compiled by HSBC and Markit slipped to 50.7 in May from April's 51.4.
Readings above 50 indicates expansion.
The new data contrasts with official data which raised hopes that the world's second-largest economy may have steadied last month.
But three separate PMI polls released in the past week all showed China's factory and services sectors enjoying their best performance in four or five months in May.
Starbucks to open 300 new stores by 2015
The Starbucks Coffee Company is expected to open at least 300 new stores in China by the end of next year.
Starbucks' top executive Howard Schultz announced the expansion plan during his ongoing visit to China.
He says the company will have over 1,500 stores in the country by 2015. The chain currently has 1,200 stores in 68 cities across the Chinese nation.
Schultz, founder of the Starbucks Foundation, also announced a 3 million dollars investment in China, including 1.5 million to the China Soong Ching Ling Foundation.
FTSE readies new global index series to include China A-shares
Global index provider FTSE Group is to introduce a new series of indexes that will allow investors to include China's mainland A-shares in global benchmarks at their discretion.
The new series, known as the FTSE Global R/QFII Index Series, is designed to allow investors to transition into investing in China's onshore equity market.
FTSE's standard global benchmarks currently do not include China A-shares.
China is gradually opening up its domestic markets to foreign investors.
For foreign investors to gain access to the A-shares market, they must do so through a quota system known as the Renminbi Qualified Foreign Institutional Investor scheme.
The new FTSE index series will be available starting June 17.
Qualcomm to sell its first China-specific chips this year
World's No.1 smartphone chipmaker Qualcomm plans to sell its first smartphone chips tailored to China this year.
Three chipsets unveiled in February will appear in Chinese handsets before anywhere else.
The majority of its chips end up in high-priced phones such as Apple's iPhone.
But the U.S. chip maker is adapting to the Chinese market where growth is increasingly driven by low-priced handsets.
ECB set for growth-boosting interest rate cut
Anchor:
Expectations are running high that the European Central Bank will loosen its monetary policy at its meeting on Thursday.
Most expect at least a cut to the benchmark interest rate, while others say the ECB will go further.
It is thought that the ECB could introduce negative rates on deposits, in an effort to boost bank lending.
This would mean banks would pay to keep money at the central bank, rather than receiving interest.
Recent economic indicators show that the recovery in the eurozone is subdued at best.
On Tuesday, figures showed that inflation fell to half a percent in May, considerably below the ECB's goal of just below 2%.
This has raised the threat of deflation.
Meanwhile, unemployment continues to plague the eurozone.
Now for more on this, Shane Bigham spoke earlier with Cao Can, CRI's Financial commentator.
…
Back to Anchor:
Cao Can, CRI's Financial commentator.
GlaxoSmithKline in $105m settlement with 44 US states
UK pharmaceutical giant GlaxoSmithKline has agreed to a 105 million US dollar settlement with 44 US states and the District of Columbia over allegations it mis-promoted three drugs.
The drugs are asthma medication Advair and anti-depressants Paxil and Wellbutrin.
GSK did not admit any wrongdoing, and said the charges came from past issues.
As part of the settlement, GSK must extend its Patient First Program until 2019, which prohibits financial incentives for its sales people.
It is also prohibited from paying doctors to speak about GSK's products or attend conferences.
The firm, which is one of the UK's largest companies, is also facing a criminal inquiry from the UK's Serious Fraud Office.
Remy Cointreau profits hit after China corruption crackdown
Operating profits at the French spirits group Remy Cointreau have fallen 40 percent following a crackdown on corruption in China.
The campaign has reduced gift-giving and spending on luxury goods by civil servants, which has hit sales of Remy Cointreau's premium brands.
Remy, which makes Remy Martin Cognac and Cointreau liqueur, said it would cut its dividend by 9.3 percent.
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