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Tokyo: Chief of bitcoin exchange Mt. Gox denies embezzlement as trial opens

Mark Karpeles, chief executive of defunct bitcoin exchange Mt Gox, rides in a car as he arrives at Tokyo District Court for a trial on charges of embezzlement in Tokyo, Japan, July 11, 2017.  REUTERS/Toru Hanai

The 32-year-old chief executive of defunct Mt. Gox pleaded not guilty on Tuesday to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world’s biggest bitcoin exchange. French national Mark Karpeles filed the plea in response to charges of embezzlement and data manipulation at the Tokyo District Court, ...

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Amazon wins India’s approval to invest in domestic food retail

FILE PHOTO: Employees of Amazon India are seen behind a glass bearing the company's logo inside its office in Bengaluru, India, August 14, 2015. REUTERS/Abhishek N. Chinnappa/File Photo

Online retail giant Inc has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart. Amazon confirmed winning government approval for its plan to sell food products, but it declined to provide further details. Separately, a source familiar with ...

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Asian shares rise as investors await Yellen testimony

A man holding an umbrella walks in front of an electronic stock quotation board outside a brokerage in Tokyo April 7, 2015.    REUTERS/Issei Kato/File Photo

Asian shares extended gains on Tuesday and the dollar notched a four-month high against the yen, as investors awaited testimony from Federal Reserve Chair Janet Yellen for clues on when the central bank would tighten U.S. monetary policy. In Europe, futures for the Eurostoxx 50 and the DAX were both up 0.3 percent, while the FTSE was 0.2 percent higher. ...

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Asia: Toshiba under pressure to consider ‘Plan B’ as chip sale falters: sources

FILE PHOTO- A logo of Toshiba Corp is seen on a printed circuit board in this photo illustration taken in Tokyo July 31, 2012. REUTERS/Yuriko Nakao/File Photo

As the $18 billion sale of Toshiba Corp’s memory chip unit to a government-approved consortium falters, some bankers and potential investors are pressing the board to seriously consider alternatives, people with direct knowledge of the sale process said – including picking a new buyer. Those people say Toshiba’s leadership is sticking to Plan A: selling the world’s second-largest memory chip ...

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IMF lifts China growth estimate to 6.7%

Dice and Glass globe ( Asia map ) on  a stock market graph chart, Business concept.

The International Monetary Fund (IMF) raised its growth estimate for China for the second time this year while also cautioning that deep reforms are still needed to break away from debt-fueled expansion. The world’s second-largest economy will expand by 6.7% in 2017, the Washington-based fund said in its annual report on Article IV consultations published on Wednesday. That’s up from ...

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China’s consumers, factories hold up as property starts to cool


China’s retail sales and industrial output remained resilient in May, while signs emerged that measures to cool the property market are having some effect. Key points Industrial output rose 6.5% from a year earlier Retail sales increased 10.7% matching economists’ projections Fixed-asset investment expanded 8.6% in first five months, trailing estimates as property development investment slowed Bloomberg’s monthly China GDP ...

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China’s 1st big passenger jet completes maiden flight


China’s first large jetliner has successfully completed its maiden flight, a key moment in the country’s push to challenge the U.S. and Europe as a global manufacturer. The C919, China’s first domestically designed and built large airliner, took off Friday afternoon from Shanghai Pudong International Airport into hazy skies with a five-person crew aboard. The jet landed one hour and ...

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Asian stocks fall for third day on commodity fears, China hits three-month lows

Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China, March 7, 2016. REUTERS/Aly Song/File Photo

Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the health of the global economy, though the euro bucked the broad weakness on receding concerns about France’s presidential election. Chinese stocks led regional losers, falling to a three-month low as concerns about tighter financial regulations weighed on banking shares while oil ...

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UBS breaks ranks with push for mid-tier Asian millionaires

A UBS advertisement is displayed on top of a commercial building in Hong Kong, China May 2, 2017. Picture taken May 2, 2017. REUTERS/Bobby Yip

UBS Group AG (UBSG.S) plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in Asia-Pacific, to grab a bigger share of the fast-growing mid-tier millionaire segment. The Swiss bank’s sharpening focus on the middle of the wealth market comes as some global banks including Standard Chartered (STAN.L) are ...

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Asian stocks retreat, dollar holds near six-week high on hawkish Fed

A man stands in front of electronic boards showing stock prices and exchange rate between Japanese Yen and U.S dollar outside a brokerage in Tokyo, Japan, January 20, 2017.  REUTERS/Kim Kyung-Hoon

Asian stocks retreated on Thursday, taking their cues from a subdued session on Wall Street, while the dollar retained gains made after the Federal Reserve’s hawkish policy statement. European markets looked more positive, with financial spreadbetters expecting Britain’s FTSE 100 .FTSE and Germany’s DAX .GDAXI to open 0.2 percent higher and France’s CAC 40 .FCHI to start the day up ...

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