US stocks move higher in morning trading
U.S. stocks edged higher in morning trading Tuesday as investors evaluated a thin slate of corporate financial results and a report showing that wholesale businesses increased their stockpiles in January.
China picks owners for 5 new private banks
BEIJING (AP) — Ten companies including Internet giants Alibaba and Tencent have been picked to invest in China's first five privately owned banks, the industry's chief regulator said Tuesday.
Checks find flaws in Bangladesh garment factories
DHAKA, Bangladesh (AP) — Inspections of Bangladesh garment factories under a new safety initiative have found cracked support beams, extra floors apparently built without permits and exposed electrical cables chewed by rats.
Hunt for missing jet widens to distant waters
KUALA LUMPUR, Malaysia (AP) — Authorities are expanding their search for a missing Malaysia Airlines plane to the Malacca Strait, far from its last confirmed location, the airline said Tuesday, injecting new mystery into an investigation that so far has failed to come up with any answers.
US wholesaler sales fall 1.9 percent in January
WASHINGTON (AP) — U.S. wholesale businesses in January suffered their steepest sales drop in nearly five years, yet they continued to increase their stockpiles. This suggests that companies expect the economy to rebound after experiencing an abrupt winter slowdown.
UniCredit posts stunning Q4 loss of $21 billion
MILAN (AP) — UniCredit, Italy's largest bank, has posted a record 15 billion-euro ($21 billion) loss in the fourth quarter, as it moved to clean up its balance sheet with write-downs and bad loan provisions.
Global growth forecast to remain sluggish
PARIS (AP) — Global growth is likely to remain sluggish as a slowdown in the developing world undercuts gains in Europe and the United States, a leading international economic body warned Tuesday.