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August, 25, 2016

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Business
A five-year-old securities fraud case rooted in the financial crisis against the former chief executive of mortgage giant Fannie Mae ended Monday in stalemate, court filings showed.
 
Domestic demand gives boost to Asian economies
Loose monetary policy should support growth in Asia in coming months, economists say, but regional growth is likely to be negatively affected by a slowdown in China and possible Brexit fallout.
 
S Korean tech startups accuse Naver and Kakao of copying their software
Local startups are speaking out against South Korean IT giants that have allegedly plagiarized their services, saying that such unfair practices further marginalize smaller companies in the country's highly competitive tech sector.
 > Korea
 
Eurozone stock markets rose Monday looking ahead to a key meeting of central bankers at the end of the week, but London retreated on heavy falls for heavyweight mining shares.
 
German auto giant Volkswagen said on Monday it would halt production at six plants for several days as a legal dispute with two key suppliers deepened.
 
The leaders of Italy, France and Germany meet Monday to lay the groundwork for a summit aimed at salvaging the European project in the wake of Britain's shock vote to leave.
 
The U.S. dollar rose Monday in Asian trade on renewed hopes for a possible U.S. rate hike this year following hawkish comments from the vice chairman of the Federal Reserve.
 
A U.S. national security regulator has approved a state-owned China National Chemical Corp.'s planned US$43 billion takeover of Swiss pesticide and seed giant Syngenta, the two companies said Monday.
 
Busy day at the beach
A lifeguard keeps an eye on swimmers at the beach on Coney Island in the Brooklyn borough of New York on Saturday, Aug. 20.
 
Oil prices eased in Asia Monday, ending a seven-day rally, following news that Iraq will boost crude exports, while the dollar strengthened on speculation the Federal Reserve could hike interest rates this year.
 
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