SHANGHAI (Reuters) - A unit of conglomerate China Resources Corp plans to sell minority stakes it holds in 21 outlets of Wal-Mart Stores Inc around China, a spokesman for the U.S. retailer told Reuters on Friday.
FRANKFURT (Reuters) - German automotive parts maker Schaeffler rose 8 percent in its first day of trading on Friday in one of Germany's largest initial public offerings (IPO) this year. The shares opened at 13.50 euros, above the issue price of 12.50 euros ($14.10) apiece, after having been offered in a 12-14 euro range. The flotation follows the listings of plastic maker Covestro and classifieds group Scout24 , which suffered from wobbly markets while building materials maker Xella pulled its IPO earlier this week. (Reporting by Arno Schuetze and Maria Sheahan; Editing by Kirsti Knolle)
MADRID (Reuters) - German carmaker Volkswagen , grappling with a engine-rigging scandal, has guaranteed its investments in Spain, Industry Minister Jose Manuel Soria said on Friday. "I met the chairman of Volkswagen (on Thursday) and he guaranteed (the group's) investment program in Spain," he told La COPE national radio the day after meeting newly-appointed VW Chairman Hans Dieter Poetsch. ...
Asian shares rose on Friday, taking their cue from a jump in oil prices and Wall Street gains after minutes of the Federal Reserve's latest meeting further quelled expectations of an imminent U.S. interest rate hike. The Fed minutes revealed the extent to which policymakers are concerned that a global economic slowdown might threaten the U.S. economic outlook. Riskier asset markets, which had risen when the Fed held off raising rates in September, got a further boost on confirmation policy makers won't rush to tighten policy at a time of slackening global growth.
By Randall Palmer and Krista Hughes LIMA (Reuters) - Central banks have little room for error in a low-growth world in which over-leveraged and commodity-dependent emerging economies and a slowing China are major risks, top international financiers told the International Monetary Fund's meeting. Despite $7 trillion in quantitative easing from banks in industrial nations since the global financial crisis, the world is stuck in a "new mediocre" growth pattern, IMF chief Christine Lagarde said on Thursday. In a bid to shore up finances and punish companies that arbitrage tax regimes, governments pushed ahead with plans to improve tax collection.
By Julia Love HALF MOON BAY, Calif (Reuters) - Starbucks Corp coffee shops will begin accepting Apple Inc's mobile payment system in a pilot program starting this year, Apple Vice President Jennifer Bailey said on Thursday. KFC and Chili's restaurants also will begin accepting Apple Pay in 2016, she said at the Re/code technology conference in Half Moon Bay, California. The service gives Apple a chance to tie customers more tightly to its phones and its smart watch, as well as to take a tiny bite from every retail transaction.