Bloomberg Project manager Yuan Fang says she’s cutting spending and working overtime after a 20 percent surge in the cost of both her Beijing room rent and her favorite Japanese lunch boxes. Civil servant Neo Zhu, who bought an apartment in the eastern city of Hangzhou 10 years ago, feels costs of everything from gas to food are stable. ...

  Bloomberg Bellamy’s Australia Ltd., the infant formula maker whose market value ballooned in 2015 amid surging Chinese sales, ousted its two top executives after forecasting plunging profits. The stock fell the most on record in Sydney. Bellamy’s has racked up stockpiles of unsold infant formula and excess ingredients after making overambitious revenue estimates, the Launceston, Tasmania-based company said in ...

  AP China’s auto market had a bumper year in 2016 as sales grew by 15 percent, with drivers rushing to buy cars before a tax break expired at the end of the year. The data released on Thursday showed that automakers sold 24.4 million cars, minivans and sport-utility vehicles in China. Booming sales, driven by strong demand for SUVs, ...

  We are in the throes of another round of what the economist Joseph Schumpeter memorably called “creative destruction.” Two icons of American business – Macy’s and Sears — are struggling. Macy’s plans to close 100 stores to improve profitability, and Sears has sold its Craftsman tools line for roughly $900 million to raise cash. Conceivably, one or both of ...

  Investment bankers in Asia are usually happy to see a spike in Treasury yields. It gives them the perfect excuse to tell clients that if they don’t issue dollar bonds now, the costs will be much higher later. That may help explain why debt sales in the US have uncannily accelerated, even as Bill Gross and Jeffrey Gundlach warn ...

  Donald Trump’s views on vaccines have long been out of sync with science. Childhood vaccines cause autism, he asserted at a debate in 2015, echoing statements he had made in 2014 and 2012. But now the president-elect is poised to do more than just pass along misinformation: He has asked a die-hard “anti-vaxxer” to lead a commission on “vaccination ...

  US Secretary of State nominee Rex Tillerson seems to be almost at variance with President-elect Donald Trump over key foreign policy issues, which he would face as America’s top diplomat. At his confirmation hearing, the former Exxon Mobil Corp CEO, under intense questioning on US-Russian relations and other foreign issues, called Russia a danger and vowed to protect America’s ...

  There’s a big threat to Germany’s traditional political parties ahead of this year’s general election, and it isn’t immigration or populism. It’s the inflation eating away at Germans’ savings as the European Central Bank keeps interest rates near zero. Germans, from serious economists to tabloid writers, have long decried the ECB’s lax monetary policy. With its stated goal of ...

  An entire library could be filled with books about how the bright minds in Silicon Valley find and fund the next Google or Facebook. But there are four basic steps to startup investing: 1) Persuade people to give you lots of money. 2) Use that money to buy shares in young companies. 3) Cash out those shares in an ...

  The irony of the yuan rally that took bears by surprise last week was that the surge came just days before China announced that its foreign currency reserves shrank by $41 billion in December. The stockpile is now $3 trillion, a decline of more than $1 trillion since its peak in 2014. Authorities have been drawing upon the huge ...