Exclusive: Risk ranking: China revamps anti-money laundering rules - sources
BEIJING - Chinese banks must rate their clients' risk of criminal conduct on a scale of 1-5 as part of the central bank's moves to curb money laundering and fraudulent transactions estimated at hundreds of billions of dollars a year.
Found 1 month ago on channel Reuters
Tesco Barely in Profit as it Prepares U.S. Exit
(LONDON) — Tesco PLC, Britain’s largest supermarket operator, says it is looking to sell its U.S. operations after failing to make an impression over six years. Tesco said Wednesday that net profit for the year dropped 96 percent to 120 million pounds ($183 million) following a 1.2 billion pounds writedown to exit its Fresh & Easy brand in the U.S. It also took an 804 million pounds writedown on its U.K. property portfolio. Fresh & Easy has nearly 200 stores in California, Arizona and Nevada. Tesco says it is also leaving Japan and taking a more measured approach to growth in China. Chief Executive Philip Clarke told the BBC that the decision to leave the United States was right for shareholders and that the company was looking for a single buyer. MORE: How the Entry of Walmart and Big Retail Chains Will Change India
Railway Spending Up in China
China spent $8.8 billion on railway infrastructure construction in the first quarter, up 28% from a year earlier.
Airlines Forecast Post-Merger Profits
US Airways and American Airlines said they anticipate the merged company would earn a profit of $2.6 billion this year and remain profitable through 2017, excluding one-time items.
China's struggle to measure economy clouds outlook
BEIJING -- After China reported quarterly economic growth of 7.7 percent this week - far above anemic U.S. and European performance - global markets reacted by falling, wiping billions of dollars off stock prices....