Corruption watchdog group Transparency International released a report today admonishing big business to do more to crack down on corruption. The report slams companies from China and Russia along with American financial services corporations.
With consumer demand still sluggish in the U.S. and Europe, China is looking elsewhere for new customers to places like Brazil. In fact, this week China and Brazil agreed to a landmark deal that avoids using the U.S. dollar.
China today dropped its key interest rate by a quarter percent -- the first cut since 2008. The move shows the Chinese government is becoming concerned about the new evidence of a slowdown in the global economy.