Teo Wei Xiang

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Associated Press News

Oil tops $97 for highest close in over three weeks

SAN FRANCISCO (MarketWatch) — Oil futures on Thursday topped $97 a barrel for their highest close in more than three weeks as prices for natural gas …

Oil

A fraud suit against a once-celebrated Silicon Valley battery startup is abruptly dropped

<i>This story has been updated</i><p>In a surprise ending to a legal drama involving a formerly high-flying Silicon Valley battery startup, a judge has allowed three former executives to drop their damning fraud suit against Envia Systems, which came out of nowhere to win, and then abruptly lose, a lucrative …

Silicon Valley

The US has just slammed the door on Chinese IPOs

<i>This article has been corrected.</i><p>Investment bankers and Chinese executives were hopeful that 2014 might be the year that Chinese IPOs return to the US. But a judge’s decision to ban the China units of the “Big Four” accounting firms from working on US IPOs could quash those dreams—along with …

China

Unlike its rivals, Tesla says it will sell cars in China for the same price as in the US

Tesla is targeting a specific niche in China’s luxury car market: Buyers who think foreign carmakers consistently overcharge them. The California-based company has set the price for its battery-powered Model S sedans in China at 734,000 yuan, or about $121,280.<p>This makes the price of a Model S in …

Tesla
European Union

Shell's Arctic drilling set back by US court ruling

Appeal court rules environmental risks have not been properly assessed by government in victory for green groups<p>Shell's hopes of drilling in Arctic waters off Alaska this summer face a serious setback after a US federal court ruled that the full range of environmental risks had not been assessed by …

China blocks foreign news sites that revealed elite's offshore holdings

• Guardian among sites blocked over reports • China Digital Times publishes details of directive<p>The blocking of foreign news sites that revealed details of offshore holdings by the relatives of senior leaders has continued in China as reports emerged of a propaganda directive ordering websites and …

China Is Dependent On Our Fiscal Health

China’s holdings in U.S. Treasurys, which reached record levels in 2013, are setting off alarm bells. They shouldn’t. They underscore that Beijing is becoming more dependent on the U.S. and the rest of the world for its strength and prosperity. China’s military leaders may not recognize that truth …

China’s manufacturing output is shrinking and it’s hitting the little guys first

Millions of small Chinese factories are falling prey to a slowing economy. The latest evidence: the flash Markit/HSBC Purchasing Manager’s Index, which is more weighted toward smaller, private companies than the government’s own index, dropped to 49.6 in January—below the critical 50 mark that …

Economic Data

'Big Four' accountants' China units face US suspension

<b>A US judge has ruled that Chinese units of the so-called Big Four accounting firms should be suspended from auditing firms publicly traded in the US.</b><p>They had been charged over refusing to hand over auditing data on China-based companies which are listed in the US.<p>The judge ruled that the units had …

Stock Markets

World Bank lending arm forced into U-turn after Honduras loan row

IFC changes stance after lukewarm response to damning report over dealings with Dinant palm oil firm sparked anger • Bank's ethics under scrutiny after Honduras loan inquiry<p>The World Bank's private lending arm has been forced into a U-turn over its dealings with a Honduran palm oil company accused …

Wall Street not impressed by Renewable Energy's latest acquisition - Energy Ticker - MarketWatch

Shares of Renewable Energy Group Inc., the largest U.S. biodiesel maker, fell 13% on Thursday after news the company has plunked down a large chunk …

Carl Icahn adds another $500 million into $AAPL, total now at $3.6 billion and closing in on 1% ownership

Just yesterday, activist investor Carl Icahn revealed that he has invested another $500 million into AAPL stock. Just around 24 hours later, Icahn has posted on Twitter that he invested <i>another</i> $500 million. That brings his total investment into Apple stock to $3.6 billion. This means that he is …

Tesla takes on China with aggressive Model S pricing

China could prove to be a market of huge importance for Tesla. So as the company prepares to bring its Model S to the People's Republic, it's taking a bold and unconventional approach on pricing. For the Chinese market, the Model S will cost ¥734,000 — or about $121,000 according to today's …

Police find $5.7m in seven suitcases in one of Australia's largest cash seizures

Cash found in Sydney apartment by anti-laundering taskforce which last year seized more than $580m in drugs and assets<p>Police have found $5.7m in cash in a south Sydney apartment in what has been described as one of Australia's largest cash seizures.<p>A 58-year-old US citizen is in custody after …

Keystone Pipeline's Southern Section Begins Delivering Oil To Gulf Coast

A large section of the controversial Keystone XL pipeline went into official operation Wednesday, in a move that supporters say will help ease the flow of oil to refineries in the Gulf Coast region. The Obama administration has yet to rule on the project's northern portion.<p>The 487-mile pipeline, …

South African strike hits platinum mines

Platinum production in South Africa has stopped, with up to 100,000 workers affected by a strike at three of the world's biggest mines.<p>Workers at Impala Platinum, Anglo American Platinum and Lonmin mines embarked on an indefinite strike from early Thursday, after their demand to double the minimum …

A Burial Plot In Beijing Now Costs as Much as a House in Parts of the U.S.

Beijing residents have long complained that sky-high property prices and soaring cost of living make it too expensive to live in China’s capital city.<p>…

Beijing to spend £76bn to improve air quality

Authorities in China's capital announce tough new measures to tackle hazardous levels of air pollution<p>In an attempt to clean up the smoggy air in the Chinese capital, Beijing's authorities have introduced a new set of measures to cut emissions and allocated 760 billion yuan (£75.8 billion) to …

North Korea: Kim Jong-un's half-brother and rival spotted in Malaysia

After hiding out in Macau, Kim Jong-nam may have found a new place to shelter<p>The older half-brother of Kim Jong-un, the North Korean leader, has surfaced in Malaysia after apparently going into hiding following the execution of his uncle and guardian in December.<p>Kim Jong-nam has been sighted at a …

Za’atari: the Rapid Growth of the Largest Camp for Syrian Refugees

For nearly three bloody years, the civil war in Syria has caused violence on a horrific scale. Roughly 120,000 were killed before the U.N. stopped …

Associated Press News

Plans are on for quick reaction force in Middle East

The idea is to place Marines closer to a region in near constant turmoil, including a civil war in Syria, a revolt in Egypt and a violent upsurge in Iraq.<p>WASHINGTON — The Marine Corps is developing plans to establish a contingency force that will be based in the Middle East and be capable of …

DOJ accuses firm that vetted Snowden of faking 665,000 background checks

As Edward Snowden prepares to defend himself in a worldwide webinar Thursday, the Justice Department is accusing the private contractor that vetted him and thousands of other intelligence workers of bilking U.S. taxpayers out of tens of millions of dollars by conducting phony background …

Obama: Climate Plan Will Help U.S. Negotiate With China, India

President Obama is under no illusion that U.S. climate policies alone can rein in global warming. In newly published comments in <i>The New Yorker</i>, Obama …

Opportunity rover finds fresh signs that ancient Mars was life-friendly

Fine-scale layering can be seen in this bedrock from the Whitewater Lake locality on Mars. The rock's characteristics suggest that it was formed in the presence of water. This false-color view was captured by the Opportunity rover's panoramic camera on Sept. 8, 2012 (Sol 3066). NASA / JPL-Caltech / …

Mars Rover