Asian shares were on edge on Monday after a sharp fall in Chinese markets in the previous session, while the euro hovered near seven-month low as the currency braced for the European Central Bank's monetary easing later this week. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent as South Korean stocks fell 0.9 percent. Japan's Nikkei dropped 0.3 percent.
(Reuters) - An equal number of U.S. shoppers sought to buy items online as they did in physical stores over the Thanksgiving weekend, according to a closely watched survey by the leading retail industry lobby, highlighting the growing importance of e-commerce during the crucial holiday shopping season. In releasing its survey on Sunday, the National Retail Federation also said it was sticking by its forecast for retail sales growth of 3.7 percent in November and December, a slight deceleration from 4.1 percent growth over the holidays last year.
Volkswagen's top executives knew a year ago that some of the company's cars were markedly less fuel efficient than had been officially stated, Sunday paper Bild am Sonntag reported, without specifying its sources. VW in early November revealed that it had understated the level of carbon dioxide emissions and fuel usage in around 800,000 cars sold mainly in Europe. The scandal, which will likely cost VW billions, initially centered on software on up to 11 million diesel vehicles worldwide that VW admitted was designed to artificially suppress nitrogen oxide emissions in a test setting.
Automakers are betting that Chinese families will embrace the mini-van, hoping the larger, unsexy sibling of the bestselling SUV will become the next big thing just as Beijing relaxes the one-child policy. Mini-vans, or multi-purpose vehicles (MPVs), were front and center at the Guangzhou auto show, where Volkswagen AG presented a supersized version of its Touran and Guangzhou Automobile Group subsidiary GAC Motor showcased a prototype mini-van. Industry experts say the appetite for bigger cars is strong enough in China, where extended families often live under one roof, to potentially turn it into the largest MPV market after the United States, where automakers have sold big cars to families for years.
Rupert Murdoch, co-chairman of Wall Street Journal publisher News Corp , on Friday said he had "strong word" that the Tribune Publishing Co's newspaper group will be bought by a Wall Street firm, while the Los Angeles Times will be split off and purchased by local investors including philanthropist Eli Broad. Murdoch, who is also co-chairman of 21st Century Fox , the entertainment and broadcast group, made his comments on Twitter. In September Tribune's board said the Los Angeles Times and San Diego Union-Tribune were "a cornerstone of our company's portfolio and a key component to our success in the future." Murdoch did not say on his verified Twitter account which firm would acquire the newspaper group or the timing of any deal.