Pacific Investment Management Co., home to the world’s biggest fixed-income fund, is shying away from risky assets as it sees a growing disconnect between the performances of financial markets and the global economy.
President Barack Obama asked his nominees for Commerce secretary and trade ambassador to revive U.S. export growth as the administration’s goal of doubling overseas sales by the end of next year slips out of reach.
Countries from China to the U.S. may be willing to support Europe through the International Monetary Fund if the region’s policy makers agree on a plan to stem their debt crisis, World Bank President Robert Zoellick said.
Katy Perry may have been banned from China’s music websites, but her “Teenage Dream” now has its Asian counterpart. Newly confirmed in office, President Xi Jinping, has chosen “Chinese Dream” as his signature phrase to describe the direction of his administration.