Shares in Samsonite plunged for a second straight day on Friday, bringing its losses to a fifth of market value, after a short seller accused it of questionable accounting practices and poor corporate governance. Blue Orca Capital on Thursday questioned accounting at the world’s biggest luggage maker, including those used in its 2016 acquisition of […]

The planned summit between leaders of the U.S. and North Korea may be off for now, but the Trump administration could still walk away with lessons about “diplomatic craft trade,” said a former American diplomat. “I do hope the Trump administration has learned a little about diplomatic trade craft and the need to send lower […]

U.S. President Donald Trump might have called off what would have been a historic summit with North Korean leader Kim Jong Un, but experts said that the bets aren’t off on a meeting taking place in time. In a letter, Trump said it felt “inappropriate” to have the summit, which had been scheduled on June […]

China’s box office takings surpassed the U.S. in the beginning of the year and that’s setting the Chinese film industry up for a “Hollywood moment,” HSBC said in a May report. Box office revenues in China beat numbers out of North America in the first three months of this year, totaling 20.2 billion yuan (around […]

Steve Cohen’s Point72 is aggressively expanding in Asia. The firm, which has more than 1,250 employees globally and $12 billion in assets under management, recently opened a larger office in Hong Kong, which can accommodate more than 160 employees — an increase from about 60 employees at the end of 2015. It has recently expanded […]

South Korean President Moon Jae In released a statement on the surprise news Thursday night that U.S. President Donald Trump canceled a planned summit with North Korean leader Kim Jong Un. Moon quickly convened a meeting with aides so they could “figure out what President Trump’s intention is and the exact meaning of it,” according […]

Overnight news that U.S. President Donald Trump had canceled a scheduled summit with Kim Jong Un looked set to be in focus on Friday, with futures tipping a lower start to the session for Asian markets. Nikkei futures traded in Chicago were down 0.68 percent compared to the benchmark’s Thursday close. Australian SPI futures were […]

President Donald Trump has canceled his historic summit in Singapore with North Korean leader Kim Jong Un next month. The meeting, which would have marked the first face-to-face encounter between a sitting U.S. president and a North Korean leader, was set for June 12. “Sadly, based on the tremendous anger and open hostility displayed in […]

Lenovo will be among the first companies to introduce 5G products, its chief financial officer told CNBC on Thursday. The technology, which is set to dethrone 4G as the next generation of mobile internet, is expected to improve connection speeds. “I think we obviously believe that 5G is going to be a very interesting technology,” […]

North Korea has carried out what it says is the demolition of its nuclear test site in the presence of foreign journalists. The demolition happened Thursday at the site deep in the mountains of the North’s sparsely populated northeast. The planned closing was previously announced by leader Kim Jong Un ahead of his planned summit […]