A court in South Korea on Friday will rule if Samsung‘s de-facto chief Jay Y. Lee is guilty of corruption following a trial where he was accused of paying bribes to gain government favors for the conglomerate. Reuters reported that prosecutors have demanded a 12-year jail sentence for Lee and that he also faces charges […]
Read moreChina has tightened the purse strings on foreign investment, but the government’s crackdown could completely backfire, hurting the very companies it’s seeking to firm up. Chinese companies had been on a massive shopping spree — outbound deals hit a new record every year since 2009, soaring 500 percent to a whopping $200 billion last year. […]
Read moreAn American business group endorsed on Friday a trade deal that no longer includes the U.S. and has been deemed a “disaster” by President Donald Trump. The American Chamber of Commerce in Singapore, or AmCham Singapore, may be the first U.S. business association to endorse the Trans-Pacific Partnership trade deal excluding the U.S. “The TPP […]
Read moreWith its decision to reinstate hundreds of academic articles, a division of Cambridge University has done what larger entities have failed to: stand up to China. Cambridge University Press, the world’s oldest publishing house, on Monday reversed an earlier decision to block access within China to 315 articles in “The China Quarterly,” a leading academic […]
Read moreStocks in Asia were mixed in early Friday trade after Wall Street slipped on uncertainty in Washington while investors anticipated an annual central banking symposium in Jackson Hole. Japan’s Nikkei 225 rose 0.25 percent in early trade, with gains in automakers, trading houses and financials driving the broader rise in the index. Across the Korean […]
Read moreUber investor Shervin Pishevar has filed a legal documents and also sent a letter to the board of the car-hailing company today, saying he had to “intervene” in the lawsuit brought by Benchmark against ousted CEO Travis Kalanick. Yes, more mess at Uber, which must come as a shock to one and all. You can […]
Read moreDespite its massive success, Amazon Prime hasn’t been able to solve one nagging problem: its heavy concentration in high-income households. But Amazon’s decision to lower prices at Whole Foods could help draw more lower and middle income people to its Prime program, as they will feel more compelled to check out the grocery store — […]
Read moreJapan’s core consumer prices rose 0.5 percent in July from a year earlier to mark a seventh straight gaining month, a sign the economy is making slow but steady progress toward meeting the central bank’s 2 percent inflation target. But the increase was still largely driven by higher fuel bills as subdued wage growth discouraged […]
Read moreA retail relief rally is underway as the sector’s earnings reports come in better than expected, so CNBC’s Jim Cramer found three key strategies that helped retailers skirt Amazon’s influence. “In the last 24 hours, we’ve … seen three different ways to beat Amazon at its own game: the Williams-Sonoma way, the PVH way and […]
Read moreTraders have been betting Mario Draghi is the central banker most likely to surprise markets at Jackson Hole Friday, but now it actually could be Fed Chair Janet Yellen. Markets have been waiting for the Fed’s annual Jackson Hole symposium, expecting Draghi, the European Central Bank president, to provide some insight into when the ECB […]
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