European stocks weighed down by CIT troubles as investors await further US earningsLONDON — European stock markets moved in a narrow range Thursday as expectations of a possible bankruptcy filing by U.S. commercial lender CIT Group Inc. reined in investor optimism following a raft of upbeat earnings. Reports: Rio Tinto steel analysts leave China after spying allegations against coworkersBEIJING — Mining giant Rio Tinto Ltd. has pulled researchers who follow China’s steel industry out of the country after four employees were detained on spying allegations during iron ore price talks, news reports said Thursday. China Eastern Airlines to acquire smaller carrier in step to strengthen competitivenessBEIJING — China Eastern Airlines Corp., one of China’s three major state-owned carriers, will acquire a local rival, the companies announced Monday, as money-losing China Eastern tries to boost its competitiveness. Australia wants evidence from China on Rio Tinto exec’s detention, says it could hurt businessBEIJING — Australian officials said Sunday that China has not given them any evidence to support its detention of an Australian mining executive on spying charges and warned that the affair could discourage foreign companies from doing business there. Australia: Detention of Rio employee on spy charges could hurt foreign business in ChinaBEIJING — The detention of an Australian Rio Tinto Ltd. employee on spying charges could damage the business environment for foreign companies wanting to work in China, an Australian cabinet minister said Sunday. US signs agreement to participate in 2010 Shanghai World Expo amid cost concernsSHANGHAI — The United States signed an agreement Friday confirming its involvement in the Shanghai World Expo in 2010, ending months of speculation that the U.S. would skip the event because of a lack of funding. AP TRAVEL AND LEISURE DIGEST for week of July 6AP Travel for the week of July 6: Four mining firm employees detained in China for spyingSHANGHAI - Four employees of the international mining group Rio Tinto Ltd. have been detained on charges of stealing China’s state secrets, authorities said Thursday. Correction: China-Luxury ShanghaiSHANGHAI — In a July 6 story about Shanghai SYDNEY — An Australian who heads Rio Tinto’s iron ore operations in China has been arrested in Shanghai and accused of espionage, Australia’s foreign minister said Wednesday. Rio Tinto says 4 employees detained in China; Australia seeks access to Australian citizenBEIJING — Four employees of Anglo-Australian miner Rio Tinto Ltd., including an Australian man, have been detained in Shanghai for undisclosed reasons, the company and government officials said Wednesday. Shanghai aims for luxury travelers _ a tough sell in hard timesSHANGHAI — Global travel may be ailing, but China’s biggest city of Shanghai is pursuing luxury travelers with a vengeance, bent on restoring a reputation for opulence and elegance that once made it the Paris of the Orient. General Motors China sales rise 38 percent; car maker suspends Russia productionSHANGHAI — General Motors Corp. said Wednesday that sales in China jumped 38 percent in the first half of this year, helped by strong demand for minivans and other small vehicles. Unclear prospects for future shipments as China talks on iron ore pricing miss deadlineSHANGHAI — Pricing talks between Chinese steelmakers and global iron ore suppliers dragged on Wednesday after they failed to reach agreement by a June 30 deadline, reports and industry officials said. General Motors says China sales up 38 percent to record 814,442 in 1H on strong minivan salesSHANGHAI — General Motors Corp. said Wednesday that sales in China jumped 38 percent in the first half of this year, helped by strong demand for its minivans and other small vehicles. Walt Disney Co. to boost Hong Kong park with $465 million massive expansion plan
Reports: China lending spree going to stocks, real estate; economists warn of bubblesSHANGHAI — China risks frittering away its stimulus spending on speculation in stocks and real estate, reports said Monday, citing economists who say surging bank loans risk inflating risky asset bubbles. Shanghai authorities hold 9 in connection with building collapse, order safety checksSHANGHAI — Shanghai authorities are holding nine people in an investigation into the collapse of a nearly finished 13-story apartment building, the government said Monday after the latest in a string of accidents that have plagued the country’s construction boom. China’s Sinopec seeks crucial capacity, coveted reserves with $7.2B Addax bidSHANGHAI — Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing. North Korean ship suspected of carrying weapons cruises past Shanghai en route to MyanmarSEOUL, South Korea — A North Korean ship suspected of carrying illicit weapons cruised through waters off Shanghai on Tuesday en route to Myanmar, a news report said, as regional military officials and a U.S. destroyer kept a close eye on the vessel. NKorean ship suspected of carrying illicit arms spotted off Chinese coast, heading to MyanmarSEOUL, South Korea — A North Korean ship suspected of carrying illicit weapons cruised through waters off Shanghai on Tuesday en route to Myanmar, a news report said, as regional military officials and a U.S. destroyer kept a close eye on the vessel. NKorean ship sailing off Chinese coast en route to Myanmar with illicit arms on boardSEOUL, South Korea — A North Korean ship suspected of carrying illicit weapons was plying the waters off Shanghai on Tuesday en route to Myanmar, a news report said, as regional military officials and a U.S. destroyer kept a close eye on the vessel’s movements. Detroit Electric, Dongfang Motor Corp. agree to develop and make electric cars in ChinaSHANGHAI — Chinese automaker Dongfeng Motor Corp. and a Dutch-based company plan to cooperate in developing and making electric cars, the companies said Friday, as China pushes to expand use of alternative energy vehicles. Film festival, art exhibit mark quiet steps forward for China’s gay communityBEIJING — The first time director and movie buff Cui Zi’en tried to hold a gay and lesbian film festival in 2001, it was shut down by police before it even opened. When he tried to organize a gay cultural festival in 2005, five dozen police officers swarmed the venue, closing it. As jury president at Shanghai, Boyle gently chides China for restricting free speech in filmSHANGHAI — Oscar-winning “Slumdog Millionaire” director Danny Boyle on Thursday gently chided China for curbing free speech in cinema, but the British filmmaker said he would love to shoot a movie in the country. Russia, China express “serious concern” about Korean tension, urge renewal of six-nation talksMOSCOW — Russia and China expressed serious concern Wednesday about the tension on the Korean peninsula and urged North Korea to return to six-nation talks on its nuclear program. China’s Hu meets with Russia’s Putin, Medvedev after international summitsNOVO-OGARYOVO, Russia — Chinese President Hu Jintao met with Russia’s two top leaders Wednesday following international summits that underscored both the common goals and the differing interests of the giant neighbors. Brazil, Russia, India and China: world needs more diversified international monetary systemYEKATERINBURG, Russia — Brazil, Russia, India and China on Tuesday called for a more diversified international monetary system, but wrapped up their first full-fledged summit by avoiding any explicit criticism of the world’s dominant currency, the U.S. dollar. Russia pushes for new reserve currencies at international summits, China offers loansYEKATERINBURG, Russia — The leaders of four major emerging economies — Russia, China, Brazil and India — apparently failed Tuesday to reach consensus on reducing the dominance of the U.S. dollar despite growing calls for an alternative global reserve currency. UK’s Riversimple, China-based Horizon Fuel Cell debut 2-seat, hydrogen car prototypeSHANGHAI — Britain-based Riversimple, a company founded by former race car driver Hugo Spowers and backed by Porsche scion Sebastian Piech, Tuesday unveiled the prototype for a two-seat, hydrogen powered car promising fuel consumption equivalent to 360 miles per gallon (106 kilometers/liter). |
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HONG KONG — The Walt Disney Co. and Hong Kong have reached a deal to expand the territory’s Disneyland at a cost of about $465 million in hopes of boosting the theme park’s fortunes, officials announced Tuesday. The deal will see the American entertainment giant invest new capital — some 3.5 billion Hong Kong dollars ($450 million) — to pay construction and operation costs during the building phases.
