NEW YORK - US STOCKS bounced higher on Wednesday as investors focused on glimmers of recovery in dismal data showing another sharp contraction in the world's largest economy.
UTRECHT (The Netherlands) - SHAREHOLDERS in Fortis Holding gave their final approval on Wednesday for the takeover of the group's former Belgian banking unit Fortis Bank by French lender BNP Paribas.
WASHINGTON - THE US economy contracted at a surprisingly sharp 6.1 per cent rate in the first quarter as exports and business inventories plummeted.
The drop in gross domestic product, reported by the Commerce Department on Wednesday, was much steeper than the 4.9 per cent annual rate expected by economists and followed a 6.3 per cent decline in the fourth quarter.
SHANGHAI - CHINA on Wednesday said it would eventually let foreign firms issue bonds and shares in the country as it detailed plans to turn Shanghai into an international financial and shipping hub.
