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Global Stocks Try to Regain Footing

Global stock markets steadied, but deepening worries about China kept investors on edge.

Investors Betting on More ECB Stimulus

Six months after the European Central Bank launched its blockbuster bond-buying program to rouse the region’s economy, some investors are betting that authorities will crank stimulus efforts even higher.

Hungarian Police Struggle to Control Migrants

A standoff between migrants and authorities continued in Budapest, while train traffic in the English Channel tunnel was disrupted by migrants on the tracks.

U.S. Tech Firms Make Pilgrimage to Brussels

The giants of Silicon Valley are bulking up in the European Union’s de facto capital, hiring lobbyists and jostling for the favor of the Web’s most ambitious regulators.

Masked Gunmen Kidnap 18 Turkish Workers in Baghdad

Identities of gunmen in early-morning raid on sports stadium weren’t immediately known, as Turks in Iraq seized for a second time in the past year.

Volkswagen Extends CEO Martin Winterkorn’s Contract

German car maker Volkswagen said it would extend the contract of Chief Executive Martin Winterkorn through 2018, ending speculation that he could step down as CEO and become chairman.

Goldman Sachs and its big-bank peers have sharply reduced their market exposure, making them relatively absent from trading in the latest volatility.

Market Bets Abound, but Where Are the Banks?

As Wall Street brims with tales of hedge-fund fortunes made and lost amid recent market gyrations, banks have been stuck on the sidelines, hamstrung by postcrisis rules governing what risks they can take.

Tesco Closer to $7 Billion South Korea Deal

U.K. retailer Tesco has chosen Asian private-equity firm MBK Partners as the preferred bidder to buy its South Korea retail operations in a deal that could be worth up to $7 billion.

Elves, Ninjas, Currency Power Lego Earnings

Lego said its 31% jump in first-half profit and 23% rise in revenue was fueled by strong sales of its Ninjago and Elves sets, but also by the weakness of the Danish krone and the euro.

South African Gold Faces Uncertain Future

South Africa’s gold mining industry must undergo radical change to cope with falling prices, intensifying labor disputes and the surging cost of ever-deeper exploration.

Intel Bets New Chips Will Revive PC Sales

Intel is overhauling its flagship line of computer chips in a high-stakes bid to revive personal-computer sales.

Bayer Separates Material Science Business

German pharmaceuticals group Bayer has moved a step closer to floating its $12.3 billion specialty chemicals business by ‘legally and economically’ separating the unit, now named Covestro.

China Imposes New Controls to Keep Money From Leaving Country

China is imposing fresh controls to prevent too much money from leaving the country, in an effort to keep funds at home.

The Moment When Humans Matter

A string of messy market openings in recent weeks has reinvigorated a debate about the relative effectiveness of humans in the stock trade.

Heard on the Street

Small U.K. Banks Show Big Rivals How To Travel Light

Picture a life without the baggage of the past. In the U.K., smaller banks are showing established rivals how that could be.

Commodity Drop Slows Canada Down

Canada’s woes are a harbinger of what could come for a small clutch of advanced economies that rely heavily on commodity exports, and demand from China, for their economic growth.

Two Red Cross Workers Shot and Killed in Yemen

A gunman opened fire on cars marked with aid group’s insignia as they drove from northern Saada province to the capital, San’a.

Greek Polls Suggest Tough Election Test for Tsipras

Opinion polls show declining support for Greece’s Syriza party and its leader, Alexis Tsipras. But Syriza retains a lead over its opponents and the Sept. 20 election could be tight.

Congolese Warlord Goes on Trial

The long-awaited trial of a Congo militia leader known as The Terminator as his started at the International Criminal Court in The Hague.

Police Say Main Bangkok Bombing Suspect Believed to Be Uighur

A senior Thai police investigator said for the first time that the main suspect in the deadly bombing at a Bangkok shrine last month is believed to be a member of China’s Uighur ethnic minority.

EU Set to Extend Sanctions on Russians, Ukraine Rebels

The EU is set to roll over sanctions targeted against almost 200 Russian and Ukrainian-separatist individuals and firms to keep pressure on Moscow to fully implement the Minsk cease-fire terms by year end.

Emails Point to Large Role for Clinton Adviser Blumenthal

Longtime aide Sidney Blumenthal maintained an outsize role with Secretary of State Hillary Clinton, despite being blocked from taking a job at the department. 96

Biden to Speak at Florida Events Amid 2016 Speculation

The vice president is expected to decide this month whether he will make a third bid for the White House.

Search Continues for Three Suspects After Illinois Policeman Killed

As a small northern Illinois community mourned a popular veteran police officer who was fatally shot while on duty, authorities scoured the area overnight in search of three men wanted in his slaying.

U.S. Report Sees Economic Benefit in Allowing Oil Exports

Lifting the nation’s four-decade ban on oil exports wouldn’t raise gas prices and could help lower them, a government study concludes. 51

Kentucky Clerk Denies Gays Marriage Licenses, Defying Supreme Court

A county clerk in Kentucky who is defying the U.S. Supreme Court by refusing to license same-sex marriage has been summoned to explain to a federal judge why she shouldn’t face stiff fines or jail time. 1091

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The Iran Nuclear Deal Explained

3:34

Kentucky Clerk Defies Supreme Court on Gay Marriage

1:41

Hungary Stops Migrants Boarding Trains To Germany

1:46

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Finally, an iPhone Camera Good Enough for a Pro

The DxO One is a tiny attachment offering a big upgrade to your iPhone camera. Geoffrey A. Fowler reviews.

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Die Seite Drei
Schnelle Analysen und Beobachtungen zum Zeitgeschehen

Ein Faible für Cognac

AP/dapd
Eine Flasche Clos du Griffier cognac von 1788, dem Jahr vor der französischen Revolution.

China und der US-amerikanische Rapper Kanye West haben eines gemeinsam: Sie lieben Cognac.

Die Chinesen sind von dem französischen Weinbrand so begeistert, dass sie in etwa vier Jahren zu den eifrigsten Konsumenten werden dürften, so eine aktuelle Studie der International Wine & Spirits Research im Auftrag der Weinhandelsgrup

pe Vinexpo. Schon jetzt ist China hinter den USA auf dem zweiten Platz und trocknet die weltweiten Vorräte langsam aus.

Im Reich der Mitte ist Cognac ein Statussymbol. Geschäftspartner verschenken ihn untereinander, und er wird bei Unternehmensveranstaltungen ebenso wie bei Familienfeiern gerne ausgeschenkt.

Vergangene Woche hieß es vom Schnapsbrenner Pernod Ricard, dass seine Cognac-Marke Martell dank der chinesischen Nachfrage stark wachse. Im zweiten Halbjahr 2011 wurde 28 Prozent mehr Martell verkauft als im Vorjahreszeitraum. Keine andere Marke des Unternehmens wächst schneller. Anfang des Jahres gab Remy Cointreau bekannt, dass der Verkauf der Marke Remy Martin in den neun Monaten bis Dezember 37 Prozent gestiegen sei. Wie Pernod erklärte auch Remy, dass die starke Nachfrage aus China der wichtigste Wachstumstreiber sei.

AP/dapd
US-Rapper Kanye West kann sogar auf dem roten Teppich nicht auf seinen Cognac verzichten.

Die Chinesen sind vom Cognac so besessen, dass sie auch den teuersten und seltensten Varianten hinterherjagen. Im September gab eine Frau aus Hongkong bei einer Auktion in Schanghai mehr als 150.000 Dollar für eine Flasche Cognac Croizet aus dem Jahr 1858 aus – ein Weltrekord.

Vergangenes Jahr kündigten die vier größten Cognac-Hersteller an, sie wollten auch Absatzmärkte außerhalb Chinas erschließen. Hennessy, Martin, Martell und Courvoisier stellen etwa 97 Prozent des gesamten von Frankreich exportierten Cognacs her. Remy liefert die Hälfte der Produktion nach Asien, wovon drei Viertel allein nach China gehen.

Die Spirituosenkonzerne erwarten allerdings, dass die Geschmäcker sich bald wieder ändern könnten. Einige glauben, dass guter Whiskey zum nächsten Trend wird und den Cognac ablöst. Gilbert Ghostine, Leiter des Asien-Pazifik-Geschäfts beim Getränkehersteller Diageo, sagte vergangene Woche, das Unternehmen verkaufe seine Scotch-Marken Windsor und Singleton besonders aggressiv, um die Konsumenten vom Cognac wegzulocken.

Doch selbst wenn die Chinesen anstatt des Cognacs bald dem Whisky verfallen, dürfte die Nachfrage trotzdem stark bleiben. Vinexpo erwartet, dass sie bis 2015 rund 3,3 Millionen Kisten Cognac trinken werden. Derzeit liegt die jährliche Produktion bei zwölf Millionen Kisten und dürfte kaum sehr viel weiter wachsen. Cognac-Fans wie Hip-Hop-Star Kanye West werden in Zukunft daher wohl etwas mehr für ihr Lieblingsgetränk ausgeben müssen.

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The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video
Search

Global Stocks Try to Regain Footing

Global stock markets steadied, but deepening worries about China kept investors on edge.

Investors Betting on More ECB Stimulus

Six months after the European Central Bank launched its blockbuster bond-buying program to rouse the region’s economy, some investors are betting that authorities will crank stimulus efforts even higher.

Hungarian Police Struggle to Control Migrants

A standoff between migrants and authorities continued in Budapest, while train traffic in the English Channel tunnel was disrupted by migrants on the tracks.

U.S. Tech Firms Make Pilgrimage to Brussels

The giants of Silicon Valley are bulking up in the European Union’s de facto capital, hiring lobbyists and jostling for the favor of the Web’s most ambitious regulators.

Masked Gunmen Kidnap 18 Turkish Workers in Baghdad

Identities of gunmen in early-morning raid on sports stadium weren’t immediately known, as Turks in Iraq seized for a second time in the past year.

Volkswagen Extends CEO Martin Winterkorn’s Contract

German car maker Volkswagen said it would extend the contract of Chief Executive Martin Winterkorn through 2018, ending speculation that he could step down as CEO and become chairman.

Goldman Sachs and its big-bank peers have sharply reduced their market exposure, making them relatively absent from trading in the latest volatility.

Market Bets Abound, but Where Are the Banks?

As Wall Street brims with tales of hedge-fund fortunes made and lost amid recent market gyrations, banks have been stuck on the sidelines, hamstrung by postcrisis rules governing what risks they can take.

Tesco Closer to $7 Billion South Korea Deal

U.K. retailer Tesco has chosen Asian private-equity firm MBK Partners as the preferred bidder to buy its South Korea retail operations in a deal that could be worth up to $7 billion.

Elves, Ninjas, Currency Power Lego Earnings

Lego said its 31% jump in first-half profit and 23% rise in revenue was fueled by strong sales of its Ninjago and Elves sets, but also by the weakness of the Danish krone and the euro.

South African Gold Faces Uncertain Future

South Africa’s gold mining industry must undergo radical change to cope with falling prices, intensifying labor disputes and the surging cost of ever-deeper exploration.

Intel Bets New Chips Will Revive PC Sales

Intel is overhauling its flagship line of computer chips in a high-stakes bid to revive personal-computer sales.

Bayer Separates Material Science Business

German pharmaceuticals group Bayer has moved a step closer to floating its $12.3 billion specialty chemicals business by ‘legally and economically’ separating the unit, now named Covestro.

China Imposes New Controls to Keep Money From Leaving Country

China is imposing fresh controls to prevent too much money from leaving the country, in an effort to keep funds at home.

The Moment When Humans Matter

A string of messy market openings in recent weeks has reinvigorated a debate about the relative effectiveness of humans in the stock trade.

Heard on the Street

Small U.K. Banks Show Big Rivals How To Travel Light

Picture a life without the baggage of the past. In the U.K., smaller banks are showing established rivals how that could be.

Commodity Drop Slows Canada Down

Canada’s woes are a harbinger of what could come for a small clutch of advanced economies that rely heavily on commodity exports, and demand from China, for their economic growth.

Two Red Cross Workers Shot and Killed in Yemen

A gunman opened fire on cars marked with aid group’s insignia as they drove from northern Saada province to the capital, San’a.

Greek Polls Suggest Tough Election Test for Tsipras

Opinion polls show declining support for Greece’s Syriza party and its leader, Alexis Tsipras. But Syriza retains a lead over its opponents and the Sept. 20 election could be tight.

Congolese Warlord Goes on Trial

The long-awaited trial of a Congo militia leader known as The Terminator as his started at the International Criminal Court in The Hague.

Police Say Main Bangkok Bombing Suspect Believed to Be Uighur

A senior Thai police investigator said for the first time that the main suspect in the deadly bombing at a Bangkok shrine last month is believed to be a member of China’s Uighur ethnic minority.

EU Set to Extend Sanctions on Russians, Ukraine Rebels

The EU is set to roll over sanctions targeted against almost 200 Russian and Ukrainian-separatist individuals and firms to keep pressure on Moscow to fully implement the Minsk cease-fire terms by year end.

Emails Point to Large Role for Clinton Adviser Blumenthal

Longtime aide Sidney Blumenthal maintained an outsize role with Secretary of State Hillary Clinton, despite being blocked from taking a job at the department. 96

Biden to Speak at Florida Events Amid 2016 Speculation

The vice president is expected to decide this month whether he will make a third bid for the White House.

Search Continues for Three Suspects After Illinois Policeman Killed

As a small northern Illinois community mourned a popular veteran police officer who was fatally shot while on duty, authorities scoured the area overnight in search of three men wanted in his slaying.

U.S. Report Sees Economic Benefit in Allowing Oil Exports

Lifting the nation’s four-decade ban on oil exports wouldn’t raise gas prices and could help lower them, a government study concludes. 51

Kentucky Clerk Denies Gays Marriage Licenses, Defying Supreme Court

A county clerk in Kentucky who is defying the U.S. Supreme Court by refusing to license same-sex marriage has been summoned to explain to a federal judge why she shouldn’t face stiff fines or jail time. 1091

Video

The Iran Nuclear Deal Explained

3:34

Kentucky Clerk Defies Supreme Court on Gay Marriage

1:41

Hungary Stops Migrants Boarding Trains To Germany

1:46