Alibaba hires US lobbying company as it considers making bid for Yahoo

Source: Reuters

Alibaba group hired Washington based lobbying company signaling that China's e-commerce firm is interested to make a bid for whole Yahoo Inc. Hiring a US lobbying company could aid Alibaba avoid US political opposition against a full takeover of Yahoo Inc. by a firm from a nation that censors and controls the Internet.

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Thu, 29 Dec 2011 08:57:39 GMT

China to continue increasing the Yuan flexibility

China will go on increasing its currency flexibility and boosting domestic demand, according to foreign ministry. Since last year, the exchange rate had become much more flexible, said Hong Lei. The country's foreign trade is more balanced with decreasing current account surplus to 3% of the GDP in the first nine months of 2011, he added.

Thu, 29 Dec 2011 08:52:40 GMT

US oil inventories are likely to show decrease of 2.2 million barrels

US crude oil inventories data are likely to show a drop in inventories last week with the refining operations remaining unchanged. Analysts expect oil inventories to decrease by 2.2 million barrels for the last week, currently investors anticipate the EIA report on the oil inventories due on Thursday.

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