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Turkish Central Bank Calls Emergency Meeting as Lira Falls

The Turkish central bank announced a crisis policy meeting on Tuesday, as the lira plunged further against the dollar and euro.

The announcement came after the lira hit another record low value against the dollar despite heavy central bank intervention in the foreign exchange market last week.

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Japan Trade Deficit Hits Record High in 2013

Japan's trade deficit swelled to a record $112 billion in 2013, official data showed Monday, as the benefits of a cheap yen for the export-driven economy were diluted by soaring post-Fukushima energy bills.

The shortfall of 11.47 trillion yen marked the biggest deficit since comparable data started in 1979, according to the finance ministry, with the December figure alone doubling from a year earlier.

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Samsung, Google Sign Patent-Sharing Deal

Samsung said Monday it had signed a long-term cross-licence deal with Google in a move to help the South Korean technology firm stave off potential patent disputes in the future.

The move comes as the South Korean firm is engaged in a series of long-running copyright infringement rows with Apple over technology and design in the firms' smartphones and tablets.

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China Gear Up for Peak New Year Travel Period

China was gearing up Saturday for the peak travel period of the world's largest annual human migration as the Spring Festival national holidays draws near.

Hundreds of millions of migrant workers will return home to their backwater towns and rural villages before the Lunar New Year, which falls this year on January 31.

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Turkey Moves to Reassure Davos Amid Currency Woes

Turkey on Friday sought to reassure investors at the World Economic Forum in Davos over the health of the economy despite the Turkish lira hitting new lows on political turmoil.

Deputy Prime Minister Ali Babacan told the assembled global elite that despite recent volatility on the currency markets, investors were not rushing to pull their money out.

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Moody's Maintains French Debt Rating

Moody's held its French credit rating at Aa1 Friday but maintained a negative outlook, days after President Francois Hollande announced a batch of business-friendly measures to fire up growth.

The U.S. agency affirmed the bond rating one notch below the top AAA rating.

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Report: Apple Mulling Move into Mobile Payments

Apple is considering launching a mobile-payments service for its iPhone and iPad, which would compete with major players such as PayPal, The Wall Street Journal said Friday.

The newspaper, citing sources familiar with the matter, said Eddy Cue, Apple's iTunes and App Store chief, "has met with industry executives to discuss Apple's interest in handling payments for physical goods and services on its devices."

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Fear of China 'Hard Landing' Stalks Davos

The risk of a hard landing for the economy in China as well as the threat of military conflict with Japan stoked fears at the World Economic Forum in Davos on Friday.

Days after the world's second-largest economy registered its worst rate of growth for more than a decade, top politicians and economists at the annual gathering of the global elite said the near-term outlook was bleak.

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Fitch Affirms Germany's Top-Notch Debt Rating

International credit rating agency Fitch affirmed Friday the top-notch triple-A rating on Germany's sovereign debt and said the outlook was stable.

"Germany continues to have the components of a declining public debt path. The economy is growing, the budget position is relatively favorable and nominal interest rates are low," Fitch said in a statement.

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U.S. Judge Suspends Chinese Units of 'Big Four' Auditors

A U.S. judge has ordered Chinese units of the "Big Four" global accounting firms to be suspended from auditing U.S.-traded companies for six months, saying they had "willfully violated" U.S. laws.

The 112-page ruling by U.S. Securities and Exchange Commission (SEC) administrative law judge Cameron Elliot could temporarily leave more than 100 Chinese companies quoted on U.S. markets without an auditor and unable to trade.

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