UPDATE 1-Foxconn plans 10-12 new Indian facilities by 2020 -chairman GUIYANG, China May 26- Taiwan's Foxconn Technology, the world's largest contract electronics manufacturer, is aiming to develop 10-12 facilities in India, including factories and data centers, by 2020, Chairman Terry Gou said on Tuesday. The announcement makes Foxconn the latest tech powerhouse to set its sights on the world's second-most populous nation.
| By: Paul Carsten
US STOCKS-Wall St set to open lower as dollar rises Time Warner Cable up on Charter deal. May 26- Wall Street was set to open lower on Tuesday after the dollar jumped to a one-month high on data showing that U.S. business investment spending plans increased solidly for a second straight month in April. "It isn't normal to see such large moves in currencies," said Adam Sarhan, chief executive of Sarhan Capital in New York.
Priceline boosts stake in Chinese travel site Ctrip.com NEW YORK- Priceline has bumped up its stake in the Chinese travel service provider Ctrip.com to 10.5 percent. Priceline also has the option to increase it stake to 15 percent. Priceline, based in Norwalk, Connecticut, owns Booking.com, Priceline.com, Kayak.com and RentalCars.com.
Source: The Associated Press
WRAPUP 1-Solid U.S. business spending plans offer ray of hope for factories WASHINGTON, May 26- U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness. "It provides some indication that business capital investment activity might be on the mend," said Millan Mulraine, deputy chief economist at TD Securities in New York.
U.S. business spending plans rise solidly in April WASHINGTON, May 26- U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a recent long spell of weakness. The Commerce Department said on Tuesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rose 1.0 percent...
Futures hold lower after durable goods U.S. stock index futures pointed to a flat to lower open on Tuesday ahead of a hectic day of data releases, following the Memorial Day holiday weekend.
| By: Jenny Cosgrave