Originally published Wednesday, July 18, 2012 at 12:58 PM
News Summary: Profits of Chinese firms drop
WEAK OUTLOOK: Some of China's biggest corporate names, from tech giants to airlines to retailers, are warning of unexpectedly sharp drops in profit of up to 80 percent.
The Associated Press
WEAK OUTLOOK: Some of China's biggest corporate names, from tech giants to airlines to retailers, are warning of unexpectedly sharp drops in profit of up to 80 percent.
IMPACT ON GOVERNMENT: Declining results for businesses add to pressure on Beijing to reverse a painful economic slump, the deepest slowdown since the 2008 global financial crisis.
UNCERTAINTY: Forecasters say the slowdown might have bottomed out after growth fell to a three-year low of 7.6 percent in the second quarter, but the timing and strength of a rebound are uncertain.










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