The Traderszone Network

Asian shares extended losses on Tuesday and European markets look set to follow after twin surveys showed China’s manufacturing sector in the grip of its worst slump in several years, raising fresh fears about the health of its economy. China’s official Purchasing Managers’ Index (PMI) fell to 49.7 in August from the previous month’s reading of 50.0, the weakest showing in three years. Separately, the private Caixin/Markit China Manufacturing Purchasing Managers’ Index (PMI) showed a final reading of 47.3 in August, the lowest since March 2009.

Cisco will provide services specially optimized for iOS devices across mobile, cloud, and on premises-based collaboration tools such as Cisco Spark, Cisco Telepresence and Cisco WebEx, the companies said in a statement. Apple is expanding its foothold in the enterprise arena at a time when iPad sales are shrinking. Cisco, on the other hand, has been investing in products and services such as data analytics software, security and cloud-management tools.

Oil prices fell nearly 3 percent in Asian trade on Tuesday, with investors covering short positions and taking profits after Brent and U.S. crude soared more than 8 percent in the previous session. Both Brent and U.S. crude prices dropped nearly $2 a barrel shortly after trading in Brent started on Tuesday, before partly recovering later in the session. U.S.

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Amid the rolling mountains surrounding this quiet town in southwest New York state, tucked away on miles-long stretches of underused rail tracks, hundreds of idle oil tank cars attest to the extent of fallout from oil’s rout. The oil tank cars – a year ago sought-after to haul crude from North Dakota to New Jersey – now stand idle as a result of two converging trends: the reversal in U.S. shale oil production and the completion of new pipelines.

BEIJING/SHANGHAI (Reuters) – Activity in China’s factory sector shrank at its fastest rate in at least three years in August as domestic and export orders tumbled, increasing investors’ fears that the world’s second-largest economy may be lurching toward a hard landing. Hurt by soft demand, overcapacity and falling investment, the economy has also been buffeted by plunging shares and a shock yuan devaluation, in what some have called a “perfect storm” of factors that is rattling global markets and could strain relations with China’s major trading partners.

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A California woman has accused the popular chain in a lawsuit of false advertising after it trumpeted on April 27 that it was the first national restaurant company to use only ingredients that are free of controversial genetically modified organisms, or GMOs. In her lawsuit filed Friday in federal court in San Francisco, the plaintiff Colleen Gallagher also alleged that Chipotle violated the Federal Food, Drug and Cosmetic Act because its food labeling is false and misleading, and deceived diners into paying more for their food.

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BEIJING/LONDON (Reuters) – The head of hedge fund manager Man Group Plc’s (EMG.L) China business has been taken into custody to help authorities in a probe into recent market volatility, Bloomberg reported on Monday, while separately a local financial reporter confessed on national TV to having spread false information that caused “panic and disorder”. Both are likely to jangle nerves in the financial industry as regulators try to find out who they think was behind China’s wild stock market rollercoaster ride in the past three months.

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