General Motors Co. is pulling its Chevy brand out of Europe, reversing a decade-old sales strategy, as a revival at the carmaker’s Opel and Vauxhall divisions beats the U.S. nameplate’s performance in the region.
Emerging-market stocks rose, snapping a three-day drop, as ICICI Bank Ltd. jumped on speculation India’s opposition party will take over government. The rand sank amid the longest South African bond slide in 15 years.
Asian stocks fell, with the regional benchmark index declining to a three-week low, amid concern signs of improvement in the U.S. jobs market will prompt the Federal Reserve to bring forward cuts to stimulus.
Nissan Motor Co. forecast its growth in China in 2014 will outpace industrywide sales in the country for the first time in three years as consumers in the world’s largest auto market return to Japanese brands.
U.S. Vice President Joseph Biden called on China as a rising economic power to act responsibly and said its escalation of a territorial spat with Japan had caused significant apprehension throughout Asia.
China’s overlap of its new air zone with that of South Korea in the East China Sea has complicated its efforts to forge closer ties with President Park Geun Hye and gives her an incentive to further strengthen relations with the U.S.
Standard Chartered Plc slumped to the lowest in three months in Hong Kong trading after the lender said full-year operating profit at its consumer-banking unit will drop at least 10 percent, hurt by its Korean business.