Stocks are up nearly 2% today alone, with the S&P back to green for 2015. Among the reasons for today's rally: lower overhead courtesy of KO and CAT, which announced that between the two of them, they would fire some 2,000 workers, which is great news for stocks if not for actual employees as there will be even more dry powder for another record quarter of stock buybacks. First Coke, via the WSJ:
Beijing (AFP) - The chairman of investment banking giant Goldman Sachs has slammed China's handling of its economy, adding he would not currently invest in the country, the Wall Street Journal reported Thursday.
BEIJING (AP) — China's No. 2 leader tried Wednesday to mollify foreign concerns about its economic slowdown, saying growth is in the "proper range" and Beijing has no plans to allow its currency to decline further.Speaking at a meeting of the World Economic Forum in the eastern city of Dalian, Premier Li Keqiang said Beijing will stick to plans for market-opening reforms despite recent "fluctuations" in economic performance.
BEIJING: China's economy expanded 7.0 percent year-on-year in the first quarter, official data showed Wednesday, slumping to a new post global financial crisis low even as authorities take steps to bolster growth in the world's second-largest economy. The figure announced by the National Bureau of Statistics was lower than expansion of 7.3 percent in the final three months of last year, but exceeded the median forecast of 6.9 percent in an AFP survey of 15 economists.