Emerging Markets

GM Plans to Sell Hummer to China's Tengzhong, Saving More Than 3,000 Jobs General Motors Corp., seeking to shed assets to emerge from bankruptcy, agreed to sell the Hummer sport-utility vehicle brand to China’s Sichuan Tengzhong Heavy Industrial Machinery Co.

Indonesia Lowers Benchmark Interest Rate to 7% to Support Economic Growth Indonesia’s central bank cut its benchmark interest rate for a seventh straight month to help bolster Southeast Asia’s fastest-growing economy.

Gucci, Other Designers Seek $4 Million in Sanctions Against Bank of China Gucci America Inc., the luxury company that is owned by Paris-based PPR SA, asked a U.S. judge to hold Bank of China Ltd. in contempt for failing to turn over documents and to order it to pay $4 million.

Barclays Rally May End After Abu Dhabi Investors Sell $5.7 Billion Stake Barclays Plc’s rally may be coming to an end after the bank’s Abu Dhabi investors took advantage of a sixfold increase in the stock to sell part of their stake for a 1.46 billion-pound ($2.42 billion) profit.

Grupo Mexico Told to Put $8.8 Billion Stock in Escrow During Court Appeal Grupo Mexico SAB, Mexico’s largest mining company, was ordered by a U.S. judge to put into escrow $8.84 billion worth of stock in its Southern Copper Corp. while it appeals a decision it lost in a Texas court.

China Stocks Have Rallied Back to 'Bubble Territory,' Economist Xie Says China’s stocks have rallied into “bubble territory” and investors betting on the country to rescue the global economy from recession are misguided, said Andy Xie, former chief Asian economist at Morgan Stanley.

Russian Shares Downgraded to `Underweight' at Citigroup After Market Rally Russian stocks, the world’s second- best performers this year, were downgraded to “underweight” from “overweight” at Citigroup Inc. as a “huge run” in prices made valuations less attractive amid economic weakness.