Business

Takata Fined $14,000 a Day for Stonewalling Airbag Investigation

Raymond Legaspi   | Feb 20, 2015 10:04 PM EST

Airbag manufacturer Takata has to pay the U.S. $14,000 per day for dragging its feet in cooperating with a government probe into the firm's defective airbags, U.S. Transportation Secretary Anthony Foxx said on Friday. read more

Air China To Increase Number Of Flights Between Beijing And Los Angeles

Arlene Lim   | Feb 20, 2015 10:08 AM EST

Air China is set to increase its number of daily non-stop flights between Beijing to Los Angeles. read more

China To Build Its Own ExxonMobil

Geann Pineda   | Feb 19, 2015 09:02 PM EST

China is planning to merge its biggest state-owned oil companies in a bid to become globally competitive amid sliding crude oil prices. read more

Russia Extends Gas Supply Deal With Hungary

Arlene Lim   | Feb 22, 2015 09:44 PM EST

Russia and Hungary have agreed to extend the gas supply contract between the 2 countries. Hungary also says Russia's big role in EU's economy cannot be brushed aside. read more

Samsung Acquires LoopPay To Compete With Apple Pay

David Curry   | Feb 19, 2015 11:24 AM EST

Samsung has acquired mobile payment platform LoopPay. read more

NY Sues UPS Over Smuggled Cigarette Shipments

Geann Pineda   | Feb 19, 2015 10:29 AM EST

The state of New York has sued United Parcel Service (UPS) for illegally shipping 700,000 untaxed cartons of cigarettes into New York between 2010 and 2014. read more

Walmart to Raise Minimum Wage to US$9 An Hour

Marcel Woo   | Feb 19, 2015 10:07 AM EST

American retail giant Walmart said it will increase minimum wage to US$9 per hour in stores around the US starting April, with the aim of raising the minimum wage to at least US$10 an hour by 2016. read more

China's ZTE To Hire 800 Engineers in China, Europe and USA

Marcel Woo   | Feb 19, 2015 04:58 AM EST

As part of its plan to invest in 5G technology, Chinese telecommunications giant ZTE announced that it will hire about 800 new engineers in China, Europe and the United States. read more

Exxon Mobil Refinery Explosion In California Injures Four

Geann Pineda   | Feb 18, 2015 11:07 PM EST

An explosion rocked a gasoline processing unit of Exxon Mobil in Torrance, California on Wednesday, leaving four workers injured and damaging nearby buildings. read more

China IPOs Help Create 12 New Billionaires

Dino Lirios   | Feb 18, 2015 10:10 PM EST

Chinese New Year will be a great and happy one for 12 lucky individuals who have just stepped into the billionaire threshold, thanks to China's new initial public offerings (IPO). read more

Rolls-Royce To Build An All-Terrain SUV

Geann Pineda   | Feb 18, 2015 07:57 AM EST

Rolls-Royce confirms it is building a car that can cross any terrain but offers the luxury of a Rolls Royce - a historic move in its 111-year journey. read more

Chinese Investor Buys Australia's Island Resort for US$30 Million

Marcel Woo   | Feb 18, 2015 05:40 AM EST

Chinese investors continue on a shopping spree abroad, as the local economy continues to experience a slowdown, with an investment group paying US$30 million to own a tropical island resort in Australia. read more

Major U.S. Hedge Funds Exit Alibaba

Marcel Woo   | Feb 18, 2015 05:07 AM EST

Some of the biggest US-based hedge fund managers have unloaded their Alibaba shares by the end of last year, anticipating a lower-than-expected fourth quarter revenue figure from China's e-commerce giant, sources said. read more

Ford Eyes WeChat Tie Up In China

Dino Lirios   | Feb 17, 2015 08:07 AM EST

Ford Motors Co has expressed interest to use WeChat in its cars in China, the world's biggest automotive market, in order to entice car buyers that look at not only the engine size but also the added features of car. read more

Is Japan Finally Out Of Its Economic Slump?

Dino Lirios   | Feb 17, 2015 07:16 AM EST

Japan's economy has recently recoiled, growing 2.2% in the fourth quarter of 2014 but at a slower pace than the expected 3.7% expansion according to a Reuters poll due to dismal household and corporate spending. read more

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