• Filter by

Asian shares edge higher, yen eases

SYDNEY: Asian markets were in a guardedly upbeat mood on Monday, heading into an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve.

A modest improvement in risk appetite saw the safe-haven yen lost ground, while MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.3 percent.  Japan's Nikkei climbed 1.4 percent and E-Mini futures for the S&P 500 rose 0.1 percent.

GE cuts US$2.4bil from pension deficit

NEW YORK: General Electric Co trimmed its pension deficit by US$2.4bil as the manufacturer tackles the worst shortfall in corporate America.

Pension funding has become a central issue for GE stakeholders concerned about how the beleaguered company will meet its obligations while dealing with severe cash-flow and earnings challenges