The Traderszone Network

Best Buy’s tighter relationship with Apple lifted sales last quarter.

Home mortgage applications increased dramatically last week, as a strong sell-off in the U.S. stock market pushed interest rates lower briefly

General Motors Co (GM.N) expects to be profitable in India in five years as it cuts costs and works towards increasing locally produced content for its cars, the automaker’s country chief told Reuters. After two decades in India, GM’s sales are falling and it is still losing money, some 38.5 billion rupees ($581 million) in the year to March, a company filing with the corporate affairs ministry showed. GM said in July it plans to invest $1 billion in India to make it a global export hub and to launch new products, even as it cuts its production capacity due to sluggish demand.

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Friday’s job numbers is the last monthly employment report before the U.S. Federal Reserve meets on Sept. 16-17, when an announcement on interest rates is widely expected. The U.S. central bank has said it will raise rates only when it sees a sustained recovery in the economy, with a key focus on labor and inflation. Wall Street closed sharply lower on Tuesday, with renewed concerns about China’s economy pushing major indexes down almost 3 percent and intensifying fears of a long-term selloff.

Investigations by Chinese authorities into wild stock market swings are spreading fear among China-based investors, with some unsure if they are simply helping with inquiries or actually under suspicion, executives in the financial community said. Chinese fund managers say they have come under increasing pressure from Beijing as authorities’ attempts to revive the country’s stock markets hit headwinds, with some investors now being called in to explain trading strategies to regulators every two weeks.

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