Business

Owner of Dell’s Maraschino Cherries Kills Self after Inspectors Bust Marijuana Business

Vittorio Hernandez   | Feb 26, 2015 07:21 AM EST

Arthur Mondella, the owner of the 67-year-old Dell's Maraschino Cherry factory in New York City, shot himself to death on Tuesday after environmental inspectors discovered that he had a thriving marijuana enterprise too on the same premises. read more

Chinese Tea To Hit World Market

Marlon Espina   | Mar 02, 2015 09:23 PM EST

A new development in beverage has been formally introduced in the global market recently – a beer sophistically blended with a Chinese tea. read more

Foreign Tech Brands Junked From China's State-Approved Purchase List

Arlene Lim   | Feb 26, 2015 08:53 AM EST

Some of the world's leading technology brands have just been removed from China's state-approved purchase list. read more

NYC Watchdog Warns Banks Prone to ‘Cyber 9/11’ Attack

Raymond Legaspi   | Feb 26, 2015 05:33 AM EST

New York's top financial watchdog mulled new regulations to stave off an "Armageddon"-scale online attack that could bring U.S. financial markets to their knees. read more

Morgan Stanley Settles Mortgage-Backed Securities Lawsuit for US$2.6 Billion

Vittorio Hernandez   | Feb 26, 2015 03:20 AM EST

American banking giant Morgan Stanley will pay the federal government US$2.6 billion to settle the mortgage-backed securities lawsuit that the Department of Justice filed against the Wall Street lender over the 2008 global financial crisis. read more

Lego to Launch Lego Elves for Girls in 2015

Marcel Woo   | Feb 25, 2015 08:18 AM EST

Danish toy maker Lego announced that it will be launching a new product line aimed for girls - the Lego Elves - this year as demand for other Lego products continue to rise. read more

Sokor, China Approve Draft of Free Trade Pact

Arlene Lim   | Feb 25, 2015 07:36 AM EST

South Korea and China have initially agreed in principle the contents of the Free Trade Agreement (FTA) between the two countries, bringing the two a step closer to the actual signing of the accord. read more

Work Visas of 18 Chinese Experts In the Philippines Will Not Be Renewed

Arlene Lim   | Feb 25, 2015 07:31 AM EST

The work visas of 18 Chinese experts who are working with the National Grid Corporation of the Philippines (NGCP) will not be renewed, said Philippine Energy Secretary Jericho Petilla in a statement. read more

China's Manufacturing Expansion Hits 4-Month High

Marcel Woo   | Feb 25, 2015 05:27 AM EST

China's manufacturing sector expanded in February at a rate that has never been seen in four months, beating forecasts by top economists. read more

Samsung To Start Won-Yuan Direct Trading

Marcel Woo   | Feb 25, 2015 05:07 AM EST

In a move that has been long-awaited by the South Korean government, technology giant Samsung Electronics announced that it was looking into starting won-yuan direct trading. read more

China Tech Firm Gives Away Tesla Model S Sedans As Bonus To Staff

Arlene Lim   | Feb 25, 2015 04:23 AM EST

The Chinese app outfit Wifi Skeleton Key is giving away electric cars to dozens of its employees as a reward for their hard work and loyalty. read more

U.S. Fed Rate Hike To Be On 'Meeting-By-Meeting' Basis

Dino Lirios   | Feb 25, 2015 01:22 AM EST

In the Semiannual Monetary Policy Report to the Congress on Tuesday, US Federal Reserve Chair Janet Yellen told the committee that the monetary board would be mulling over raising federal rates on a "meeting-by-meeting" basis, confirming expectations of a rate hike this year, in the months to follow. read more

Financial Analysts in Hong Kong Earn More Than Those in New York

Marcel Woo   | Feb 24, 2015 05:31 AM EST

Hong Kong's reputation as a financial hub is further boosted by a latest study that showed financial analysts in the city are earning more than those who are based in New York City. read more

China's 1st Locally-Made Large Commercial Plane To Roll Off This Year

Arlene Lim   | Feb 24, 2015 06:28 AM EST

Chinese manufacturer COMAC is building the country's first large passenger aircraft that is expected to compete with Boeing and Airbus. read more

High Cost Of Living & Pollution in China Drive Off Expats

Arlene Lim   | Feb 24, 2015 10:35 AM EST

The rising cost of living and air pollution in China are driving expatriates out of the country, a recent survey showed. read more

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