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May, 4, 2016

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Business
China, Japan growth to slow sharply in 2016: IMF
China and Japan's economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the IMF said Tuesday.
 
Ferrari names Chrysler chief Marchionne as CEO
Sergio Marchionne took full control of super sports carmaker Ferrari NV, adding the CEO title on Monday to that of chairman as he positions the carmaker in the luxury goods space and seeks to regain Formula 1 glory.
 
Chinese factory activity weakened further in April, a private survey indicated Tuesday, as muted demand and market weakness hit the struggling export-oriented sector.
 > China
 
HSBC on Tuesday said its net profit fell almost a fifth in the first quarter, with Europe's biggest bank hit by "extreme levels" of markets volatility, while bad loans doubled.
 
A rare violet diamond, the largest of its kind ever found at Australia's remote Argyle mine, will be the centerpiece of Rio Tinto's annual pink diamonds showcase, the company said Tuesday.
 
Shares in Taiwan slid Tuesday for the third straight session, falling 1 percent to end below 8,300 points after the three-day Labor Day holiday as investors stayed on the sidelines amid weak global markets, dealers said.
 > Taiwan
 
The Financial Supervisory Commission (FSC,金融監督管理委員會) will finalize its policy allowing female mainland Chinese investors to purchase stock-based funds in Taiwan, as well as its plan to approve the use of the Apple Pay system in Taiwan, before the changeover of government on May 20, a top financial official said on Monday.
 > Taiwan
 
Taiwan's purchasing managers index (PMI) for manufacturing activity edged lower in April, indicating continued weakness in the sector, the Chung-Hua Institution for Economic Research (CIER) said Tuesday.
 > Taiwan
 
Siemens is paving the way toward industrial digitalization.
 > Taiwan
 
Fiat Chrysler Automobiles CEO Sergio Marchionne said Monday that the automaker will try to reach full-employment in its Italian plants before the 2018 business plan goal and that the global relaunch of Alfa Romeo will play a key role.
 
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