Global markets are watching for two major events this week - China's growth data out on Monday and Federal Reserve chief Ben Bernanke's testimony before the House and Senate later this week.
A key shareholder in Smithfield Foods Inc has hired advisers to help break up the US pork giant and sell it in pieces rather than allow it to be sold intact to China's Shuanghui International Holdings Ltd, according to a regulatory filing.
An advisory panel of lawyers has been hired to develop a compensation plan for the Chinese students and teachers who were onboard Asiana Airlines 214, which crash-landed in San Francisco on last Saturday.
For Chinese passengers Xu Da and his family, the best thing that's happened since surviving the Asiana Flight 214 crash in San Francisco is his son - who exhibited some psychological trauma for a while - not being afraid to board an airplane anymore.
If there's one US state where people are starting to see the value of a good relationship with China, it's Michigan. Last year, the Great Lakes State, struggling to recover from the economic slump, exported $3.2 billion worth of goods and services to China, a 25 percent jump from 2011, lagging behind only Canada and Mexico. Going the other way, Michigan is one of the top 10 states for direct investment from China, receiving more than $917 million in capital in 2012.
China's Finance Minister Lou Jiwei cautioned the US Federal Reserve to beware of risks to the global financial system as the central bank considers quitting its loose-money policy.
Led by the US-China Business Council and the National Committee on United States-China Relations, leaders of 11 Chinarelated organizations hosted a dinner honoring Chinese Vice-Premier Wang Yang and State Councilor Yang Jiechi following two days of meetings with their US counterparts. US Secretary of Commerce Penny Pritzker and US Secretary of Agriculture Tom Vilsack attended the gala.
Headlines were full of grim news this week about a new study that projects pollution from China's coal-burning heating boilers north of the Huaihe River will take an aggregate 2.5 billion years off the life expectancy of the 500 million people who live there.
Samsung Electronics had a ground-breaking ceremony in San Jose, California on July 10 for its new North American headquarters. The 10-story, $300 million facility, featuring 1.1 million square feet of floor space, will be open for operation by the summer of 2015.
Finnish mobile phone giant Nokia launched its new Lumia 1020 camera phone, hoping to attract more consumers in China, which is the company's largest and "fundamental" market, said Jo Harlow, executive vice-president of the company's smartphone business in New York.
Shipping bankruptcy strands ships, roils maritime cargo industry
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