Bloomberg China’s economy started the year on a firm footing as its old growth engines gathered pace, with home sales remaining resilient and steel and aluminum rebounding as prices rallied. Industrial production climbed 6.3 percent from year earlier in January and February combined, versus median estimate of 6.2 percent in Bloomberg economist survey. Retail sales advanced 9.5 percent in ...

  Bloomberg Mitsubishi Heavy Industries Ltd. is considering spinning off its shipbuilding business and planning local partnerships as weak demand for vessels prompts companies in the industry to reorganize their operations. A decision on a new structure for the shipbuilding operation may be announced in July, Eiji Matsubara, a spokesman for Mitsubishi Heavy, said by telephone from Tokyo Tuesday. Nikkei ...

  Bloomberg When President Donald Trump visits the Detroit area this week, he’ll come bearing a gift: a first step toward relaxing rules that could cost automakers about $33 billion. Trump will announce as part of a visit to Ypsilanti, Michigan, on Wednesday that his administration will begin re-examining fuel-economy standards set by the Obama administration, according to two people ...

  Bloomberg Volkswagen AG sought to draw a line under the diesel scandal that has locked it in crisis mode for more than a year, with sweeping restructu- ring efforts starting to take hold and profitability improving at the namesake brand. Still, Chief Executive Officer Matthias Mueller acknowledged lawsuits on emissions case will continue to preoccupy the carmaker for “many ...

  Bloomberg TAG Heuer, a Swiss watch brand that has bucked the industry’s slump, expects to build on last year’s double-digit sales growth in 2017, supported by an upgraded smartwatch and healthier demand in China, the biggest market for luxury timepieces. Chief Executive Officer Jean-Claude Biver said on Tuesday his “cautious” forecast is for TAG Heuer’s sales to rise 8 ...

  Jordan Weissmann, a writer at Slate, has an interesting article about Republican proposals to replace entitlements with private savings accounts. He says that these programs are big giveaways to money managers, who would collect hefty management fees. Weissmann says that the GOP is ‘trying to rewrite the social contract in such a way as to maximize the profits of ...

  In selecting AIA Group Ltd.’s Chief Executive Officer Mark Tucker as its new chairman, HSBC Holdings Plc has gotten the right guy. Let’s hope the bank’s rather insular culture gets him. To understand why HSBC has gone outside its fold for the first time in its 152-year history, take a look at AIA’s profitability. The insurer’s stock has more ...

  It’s never smart to keep hungry people waiting for their food. They turn ‘hangry.’ No one has mastered this idea better than Chinese takeout restaurants, which have put a premium on speed ever since they emerged in the 1800s. That’s when a wave of Chinese immigrants came to the US and opened up cheap and cheerful restaurants catering to ...

DUBAI / Reuters Gulf stock markets were mixed on Tuesday with a retreat by Shuaa Capital helping to dampen Dubai while the success of the Kuwait government’s debut international bond issue buoyed that market. The Dubai index fell 0.9 percent as Shuaa dropped 4.2 percent. It had risen more than 18 percent to a seven-year high in the previous two ...

  SEOUL / AP Global stocks drifted lower on Tuesday as investors looked to the Federal Reserve’s policy meeting for an expected interest rate increase and hints on future hikes. Britain’s pound fell after the country’s parliament cleared the way for Britain to start its exit process from the European Union. Britain’s FTSE 100 shed 0.1 percent to 7,358 while ...