VW investors hope Piech exit may usher in change


BERLIN - Investors hope that Volkswagen will be able to revive profitability at its core division, cure underperformance overseas and bury lingering plans for acquisitions after the resignation of Chairman Ferdinand Piech.


China plans mergers to cut number of big state firms to 40 - state media 2:09pm BST

BEIJING - China will likely cut the number of its central government-owned conglomerates to 40 through a series of mergers, as Beijing pushes forward a plan to overhaul the country's underperforming state sector, state media reported on Monday.


China maritime tensions dominate Southeast Asia summit 11:53am BST

KUALA LUMPUR - Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines drew the ire of Beijing which called its objections to the work "unreasonable".

Germany attracted record foreign investment in 2014 - study 10:47am BST

BERLIN - Germany attracted a record 3.2 billion euros (2 billion pounds) in foreign investment last year, as the number of new investors reached an all-time high thanks largely to growing interest from China, the trade and investment agency said.

ASEAN draft statement says South China Sea land reclamation risks security 6:16am BST

KUALA LUMPUR - ASEAN host Malaysia is set to give in to pressure from some neighbours and address the sensitive issue of land reclamations in the South China Sea with a draft summit statement saying such action may undermine peace, security and stability.

China investigates three senior army officers suspected of graft 4:38am BST

BEIJING - China's military has confirmed that three more senior officers are under investigation for suspected corruption, as the world's largest army deepens its probe into deep-seated graft.

China central bank economist says no need for strong stimulus - People's Daily 4:22am BST

SHANGHAI - China's employment situation is good and progress has been made in structural adjustments, so there is no need for strong stimulus for the economy despite downward pressure, the central bank's top economist said.


Volkswagen board members demanded Piech go after learning of secret plot 12:15am BST

BERLIN/FRANKFURT - Ferdinand Piech, who resigned as chairman of Volkswagen over the weekend, sowed the seeds of his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sources close to the VW board.


Philippines calls on ASEAN to urge China to halt land reclamation 26 Apr 2015

KUALA LUMPUR - The Philippines called on its Southeast Asian neighbours to unite in urging China to halt reclamation of land in the South China Sea, but the call failed to raise widespread support ahead of a regional summit.


Cuts to pay and perks trigger flight from China's state banks 26 Apr 2015

SHANGHAI/HONG KONG - Bankers at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters say.

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