Business

Obama to Propose Closing of Multibillion Tax Loopholes to Benefit Middle Class

Dino Lirios   | Jan 19, 2015 02:05 AM EST

United States President, Barack Obama, is set to deliver his State of the Union address where he explains his proposal to close multibillion dollar tax loopholes and use the revenue to benefit the middle class on Tuesday. read more

Alibaba to Launch Mobile Messaging App for Businesses

Michael A. Katz   | Jan 16, 2015 03:53 PM EST

Chinese ecommerce giant Alibaba Group is currently testing DingTalk, a mobile messaging application that combines social networking with business. read more

Target Aims to Move Out of Canada

Vittorio Hernandez   | Jan 16, 2015 10:19 AM EST

Wrong business strategies made American retail giant Target lose its aim for profits after it entered Canada in 2013. read more

Xbox One Maintains Number One Spot in Console Sales for December

David Curry   | Jan 16, 2015 09:31 AM EST

Microsoft has confirmed the Xbox One sold more units in December than the PS4 and Wii U, keeping hold of the top console spot for two months in a row. read more

JPMorgan Takes a Beating Due to Legal Costs from Numerous Lawsuits

Dino Lirios   | Jan 15, 2015 08:40 AM EST

Due to legal costs and lower trading revenue, American multinational banking and financial services holding company JPMorgan Chase & Co. reported a 7 percent decline in fourth quarter earnings. read more

LG Shares Increase Dramatically in First Half of January

Andrian Darylle Torralba   | Jan 15, 2015 10:47 AM EST

The executives at the LG Electronics Inc. have something to be happy about: the shares of the South-Korean based company have seen a dramatic increase in value, just in time for the year 2015. read more

Restaurant in China Offers Free Food for the Beautiful

Raymond Legaspi   | Jan 14, 2015 09:55 PM EST

It pays to be attractive for diners of a Korean restaurant in Zhengzhou city in central China. read more

Brent Crude Oil Price Falls to Lowest Level Since 2009

Dino Lirios   | Jan 13, 2015 10:48 PM EST

Brent crude oil has fallen below US$50, marking its lowest level since early 2009. It is now at a six-year low. read more

China Arrests Over 100 Suspects For Selling Tainted Pork

Raymond Legaspi   | Jan 12, 2015 09:07 PM EST

China's food regulators nabbed dozens of sellers suspected of sourcing pork from animals that died of illnesses and seized tons of contaminated meat on Sunday, in an effort to improve safety standards. read more

Report: Dunkin’ Donuts Can Double its Planned 1,400 Stores in China

Michael A. Katz   | Jan 12, 2015 02:02 PM EST

Analyst firm Miller Tabak says China can support more than 2,700 Dunkin' Donut shops - nearly twice the 1,400 stores the company recently said it would open in the country. It also sees room for as many as 20,000 combined Dunkin' Donuts and Baskin-Robbins units in China over the long term. read more

China to Allow Online Prescription Drug Sales as Soon as This Month

Michael A. Katz   | Jan 09, 2015 03:06 PM EST

As soon as this month, China will begin allowing prescription drugs to be sold online, opening up a $161 billion market to retailers like Alibaba, Wal-Mart and Costco. read more

Apple Surpasses $15 Billion Apps Store Sales in 2014

David Curry   | Jan 09, 2015 12:30 PM EST

Apple has surpassed $15 billion in app sales in just one year, following a 50 percent increase in 2014 app sales. read more

Workers Surprised Hundreds of 'Wet Seal' Clothing Stores to Close

Raymond Legaspi   | Jan 09, 2015 06:11 PM EST

Ailing teen clothier Wet Seal has announced 338 stores across the United States will be closed, leaving nearly 3,700 employees jobless, the company has announced. read more

U.S. Fines Honda US$70 Million for Not Reporting to Regulators 1,729 Deaths & Injuries Complaints

Vittorio Hernandez   | Jan 09, 2015 09:08 AM EST

It was only in November 2014 that Japanese car-manufacturing giant Honda Motors admitted that it didn't report 1,729 complaints of deaths and injuries involving its vehicles in the U.S. The data, covering 11 years from 2003 to 2014, was supposed to be submitted to the National Highway Traffic Safety Administration (NHTSA). read more

Dunkin’ Donuts to Open 1,400 Over Next 20 Years in China

Vittorio Hernandez   | Jan 09, 2015 07:30 AM EST

Fast food chains are taking advantage of the prosperity of Chinese consumers by opening outlets in the Asian giant. read more

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