Business

Abercrombie's Controversial CEO Is Finally Stepping Down

Staff Reporter   | Dec 10, 2014 03:09 AM EST

Clothing Brand Abercrombie & Fitch announced its controversial chief executive is finally stepping down. read more

Bank of China to Acquire NYC Office Building for $600 Million

Michael A. Katz   | Dec 09, 2014 08:57 PM EST

The Bank of China is buying a 28-story office building at 7 Bryant Park in Midtown Manhattan in New York City for almost $600 million. read more

Economic Experts Say China Should Cut Growth Target to 7 Percent in 2015

Cory Doyle   | Dec 09, 2014 02:45 PM EST

"I think it should be 7 percent if there are no more surprises. But it can't be lower than 7 percent, otherwise there could be employment problems and debt default problems," senior economist at CASS told Reuters. read more

Shanghai Stock Market Takes Nosedive, Sees Biggest One-Day Loss in Five Years

Michael A. Katz   | Dec 09, 2014 09:43 AM EST

Just days after breaking through the 3,000-point barrier for the first time since 2011, the Shanghai stock market plunged in its biggest one-day percentage decline in five years. read more

Mark Zuckerberg Makes FB Employees Read Chinese Propaganda

Vittorio Hernandez   | Dec 09, 2014 08:57 AM EST

Several hundreds or even a few thousand copies of Chinese President Xi Jinping's book, "The Governance of China," for all Facebook employees to read is hardly a dent in the coffers of the biggest social media portal if it could add hundreds of millions of Chinese to FB. read more

Korean Air Went Nuts: VP under Fire over Macadamia Nuts Incident

Vittorio Hernandez   | Dec 08, 2014 09:00 PM EST

The bratty daughter of the Korean Air CEO caused a delay in the flight of the air carrier on Monday over the failure of the purser to give her order of macadamia nuts in a bowl. read more

Shanghai Index Breaks 3,000-Point Barrier for First Time Since 2011

Michael A. Katz   | Dec 08, 2014 05:04 PM EST

The Shanghai Composite gained more than 2 percent Monday, pushing the benchmark above the 3,000-point barrier for the first time in almost four years. read more

India To Outpace China By 2016, Gadget Gold Rush Incoming

David Curry   | Dec 08, 2014 06:37 AM EST

India is close to outpacing China on gross domestic product growth, with Goldman Sachs projecting India to surpass China in 2016. read more

Shanghai’s Glamour Bar Closes for Good

Vittorio Hernandez   | Dec 08, 2014 06:21 AM EST

Despite the closure of the Glamour Bar in Shanghai over the weekend due to his rental, Michelle Garnaut, the bar owner, plans to continue hosting the Shanghai International Literary Festival. read more

West Coast Port Strike No Match To 2 Pilots Who Deliver Christmas Trees to China

Vittorio Hernandez   | Dec 08, 2014 06:02 AM EST

Despite Christmas trees being a western Christian tradition, many Hong Kong residents and businesses consider it a must to have one at their homes and enterprises. But since fir trees don't grow in Hong Kong, the people from the Chinese administrative region import it mostly from the U.S. read more

Of Mice and Bread: Rodent Found In Shanghai BreadTalk Display Case

Jose Mario Fuderanan   | Dec 08, 2014 04:34 AM EST

Mouse found nibbling bread inside display compartment at Shanghai BreadTalk branch read more

Bebe Clothing Store Customers’ Data Hacked

Vittorio Hernandez   | Dec 06, 2014 03:03 AM EST

The hackers are back, and this time their latest victim is women's apparel store Bebe from where they stole credit and debit card information. read more

JPMorgan’s James Dimon Has No Cancer Evidence, Bank Shares Up 2.1% on Good Health News

Vittorio Hernandez   | Dec 06, 2014 05:30 AM EST

Shares of JPMorgan Chase & Co. closed 2.1 percent higher on Friday and rose by 50 cents to US$62.70 on news that James Dimon, the chief executive of the bank, has no evidence of cancer on his body. read more

Best Buy Closing its Doors in China, Will Sell Off 184 Stores

Carlene Vision   | Dec 05, 2014 04:32 PM EST

Best Buy Co. announced Thursday that it will end its eight-year proprietorship over 184 Five Star stores in China. read more

China’s Tax Authority Targets Income of Foreigners, Wealthy Chinese

Vittorio Hernandez   | Dec 05, 2014 06:03 AM EST

To meet the State Administration of Taxation's 2014 growth target of 7.5 percent, the national tax agency is looking into the income of rich Chinese and foreigners. read more

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