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BOJ talking with global peers amid latest turmoil

The Bank of Japan (BOJ) has been communicating with officials around the world over financial-market turmoil, BOJ Deputy Governor Hiroshi Nakaso said as stocks tumble and the yen surges. “Whether we have tools — I think we have tools, but this is something we have toFULL STORY

Talk of negative rates ‘premature’: NY Fed president

New York Federal Reserve President William Dudley has dismissed speculation the US Federal Reserve could adopt negative interest rates as “extraordinarily premature.” Speaking a day after Fed chair Janet Yellen concluded two days of congressional testimony during which she left open questions on whether the USFULL STORY

Alibaba has 5.6% stake in Groupon

Alibaba Group Holding Ltd (阿里巴巴) bought 33 million shares of Groupon Inc, making it the fourth-largest shareholder in the online deals Web site that has lost 86 percent of its value since going public more than four years ago. The Chinese e-commerce giant owned 5.6 percentFULL STORY

AT&T says it will start testing fast 5G network

AT&T Inc announced plans on Friday to begin testing a superfast 5G mobile network with speeds up to 100 times faster than the most rapid existing connections. The US telecom group said it would begin the field tests later this year in collaboration with US semiconductorFULL STORY

HTC mum on reports churchgoers defrauded founder

Smartphone maker HTC Corp (宏達電) declined to comment on a report that its founder, Cher Wang (王雪紅), has been defrauded by members of her church. The Chinese-language World Journal, published in the US, cited US court papers as saying that Wang was cheated out ofFULL STORY

US and European markets rebound after brutal week

US and European stocks rallied strongly on Friday, ending a painful week on a positive note following solid US and German economic data and a surge in oil prices. Markets in London jumped 3.1 percent and those in Frankfurt and Paris gained 2.5 percent, brushing offFULL STORY

Crude surges most in seven years

Crude oil prices surged the most in seven years, rebounding from the lowest in more than a decade as equities rallied. Futures rose 12 percent in New York and 11 percent in London. US stocks halted a five-day slide that dragged global equities into aFULL STORY

Gold shines as investors shun risk

Gold prices glistened this week, striking one-year highs as the precious metal benefitted from its status as a haven investment in times of economic turbulence. With growing fears of another global recession, gold on Thursday struck US$1,263.47 per ounce — the highest level since Feb. 6,FULL STORY

Visa discloses its stake in Dorsey’s company Square

Shares in the mobile payment services company Square Inc rose sharply on Friday after Visa Inc disclosed the details of its ownership stake in the company. While Visa’s stake amounts to about 1 percent of the company and the stake was established at least fiveFULL STORY

Apple and Dr Dre said to be planning TV show

Apple Inc is working on an original television show with Dr Dre, the co-founder of Beats Music and an Apple executive, according to a person with knowledge of the project. The show, currently titled Vital Signs, will be an Apple Music project offered through Apple TV,FULL STORY

World Business Quick Take

CHINA Shadow banks targeted Underground banks did more than 1 trillion yuan (US$152 billion) in transactions last year and the government will step up efforts to combat the problem this year, state media said yesterday citing the foreign exchange regulator. Zhang Shenghui (張生會), head of the StateFULL STORY

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