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Chinese courier ZTO sued for "untrue statements" in $1.4 bln U.S. IPO

SHANGHAI, July 21- Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering. Morgan Stanley and Goldman Sachs Group Inc, which spearheaded ZTO's IPO, are named in the class-action...

Source: Reuters

North Korea's 2016 economic growth climbs to 17-year high despite sanctions targeting nuclear program

North Korea's economy grew at its fastest pace in 17 years in 2016, South Korea's central bank said on Friday, despite international sanctions.

Source: Reuters

Nikkei edges down as market analyses ECB; Yaskawa soars

TOKYO, July 21- Japan's Nikkei share average edged down on Friday morning as investors took in the European Central Bank's policy talk, while individual companies such as Yaskawa Electric soared on strong profit forecasts. The European Central Bank left its ultra-easy monetary policy unchanged, and President Mario Draghi said that policymakers would...

Source: Reuters

Nikkei edges down as market analyzes ECB; Yaskawa soars

TOKYO, July 21- Japan's Nikkei share average edged down on Friday morning as investors took in the European Central Bank's policy talk, while individual companies such as Yaskawa Electric soared on strong profit forecasts. The European Central Bank left its ultra-easy monetary policy unchanged, and President Mario Draghi said that policymakers would...

Source: Reuters

China's yuan climbs against the dollar, boosted by Trump's troubles

As a presidential candidate, Donald Trump turned China's currency into a campaign issue, but GOP political stumbles are now strengthening the yuan.

Source: CNBC.com

Mexico's Bimbo agrees to buy U.S. baker East Balt for $650 mln

MEXICO CITY, July 20- Mexican breadmaker Bimbo said on Thursday it agreed to buy U.S. firm East Balt Bakeries for $650 million. Bimbo, which expanded into India and Africa in recent months, and has plans to grow in China and the rest of Asia and the Middle East, said it hoped to close the transaction by the second half of 2017, pending regulatory approval.

Source: Reuters

N.Korea 2016 economic growth at 17-yr high despite sanctions-S.Korea

SEOUL, July 21- North Korea's economy grew at its fastest pace in 17 years in 2016, South Korea's central bank said on Friday, despite the isolated country facing international sanctions aimed at curbing its defiant pursuit of nuclear weapons. Gross domestic product in North Korea last year rose 3.9 percent from the previous year when the economy contracted...

Source: Reuters

China's 'intervention' not main culprit in US trade deficit

BEIJING— Is the outsize role played by China's government in its economy to blame for its multibillion-dollar trade surpluses with the United States? But economists say while Beijing hampers access to its markets, the bulk of China's trade surplus stems from its role in complex global manufacturing chains instead of trade policy. But tensions bubbled up this...

Source: The Associated Press

REFILE-RPT-China's central bank fixes yuan midpoint at strongest level in 9 mnths

July 21- China's central bank set the yuan midpoint at 6.7415 per dollar on Friday, its strongest level since Oct. 20, reflecting persistent weakness in the dollar.

Source: Reuters

REFILE-RPT-Chin's central bank fixes yuan midpoint at strongest level in 9 mnths

July 21- China's central bank set the yuan midpoint at 6.7415 per dollar on Friday, its strongest level since Oct. 20, reflecting persistent weakness in the dollar.

Source: Reuters