Asia

GE Takes $1.7B Charge to Settle Japanese Debts

General Electric said it will record a $1.7 billion charge as it meets refund obligations related to the 2008 sale of its Japanese consumer loan business to Shinsei Bank.

Japan: No Need to Panic over Yen Spike

Top officials expressed concern about the violence of recent fluctuations with the Yen, but there are no overt worries about the level of the currency.

China Consumer Prices Up 2.7% in June

New economic data out of China underlines the fact that the Chinese economy may be cooling down. The inflation rate rose more than expected to 2.7 percent in June, up from 2.1 percent in May.

Nikkei Ends Day at 1-Week Low

Japanese stocks fell on Wednesday as a stronger yen weighed on exporters and oil prices extended sharp declines, after top crude exporter Saudi Arabia ruled out production cuts while industry data showed growing U.S. stock piles.