Reuters In a corner of Shanghai, surrounded by a cement wall, lies one of the world’s most valuable fields of debris and garbage. On paper, the Guangfuli neighborhood is a real estate investor’s dream: a plot in the middle of one of the world’s most expensive and fast-rising property markets. But the reality is more like a developer’s nightmare, …

  Sydney / BLOOMBERG Australia’s central bank forecast core inflation is unlikely to reach the bottom of its target this year and will probably only do so in the ensuing two years as the developed-world disinflation quandary emerges Down Under. The central bank, in its quarterly statement, left estimated economic growth at 2.5 percent to 3.5 percent this year and …

  Milan / AFP Italian bank Intesa Sanpaolo reported earnings ahead of market expectations as bad loan risks on its books diminished. Net profit fell 24.2 percent in the first quarter to 806 million euros ($920.4 million), which compares with forecasts by analysts of around 708 million. Operating profit dropped on the back of falling interest income and earnings from …