U.S.-China: First Step on Cybertheft

Washington — China’s pledge to help crack down on hackers who steal commercial secrets from the United States, even coming as it did amid a bit of arm-twisting by President Obama, is a big breakthrough that could reduce U.S.-China tensions and end huge losses for American companies. Analysts say the agreement between the world’s two biggest economies is just a start but could lead to real progress on the cybertheft issue — depending...

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Chinese President: No Progress ‘Without Reform’

Seattle — Chinese President Xi Jinping addressed Amazon.com founder Jeff Bezos, billionaire investor Warren Buffett and other top American and Chinese business leaders Wednesday, vowing that his country would work to remove barriers to foreign investment and improve intellectual property protections. Xi’s conference with the business leaders in Seattle was part of a busy day. He also toured the Boeing production facility in Everett,...

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Jobs Data Provide Mixed Signals

Washington — Employers added a disappointing 173,000 jobs in August but the blow was softened by the equally unexpected drop of the unemployment rate to 5.1 percent. That’s the best reading on unemployment since March 2008, but there were plenty of mixed signals in the report released Friday by the Bureau of Labor Statistics. Here are three important points from the jobs report and what they signal for the U.S. economy: Outlook for...

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Tune In Tonight For Latest Read On China’s Yuan

New York — With the August U.S. jobs report out of the way, it’s time to look ahead to the next big data point in global financial markets. Currency and Treasuries traders will get a fresh read as soon as tonight on the extent of capital outflow and yuan selling that China has been grappling with. The People’s Bank of China, which owns almost one-third of the world’s reserves, will probably report in the coming week that its war chest...

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U.S. Stock Markets Plummet; Dow Sinks Below Correction Threshold

New York — U.S. stocks plunged lower Tuesday, following the rest of the world’s markets down, as investors reacted to fresh news of China’s economic slowdown. The blue-chip Dow Jones industrial average dropped nearly 3 percent, falling 469.68 points, to 16,058.35, while the broad-based Standard & Poor’s 500 index fell 58.33, also about 3 percent, to 1,913.85. The sell-off of U.S. shares, which appeared to be finding at least a...

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