Business

China to Insure All Bank Deposits Up to 500,000 Yuan by January

Vittorio Hernandez   | Nov 28, 2014 03:21 AM EST

The Bank of China plans to insure all bank deposits in the country for up to 500,000 yuan or $81,000 beginning January 2015. read more

Chinese Companies Gearing Up To Take On Hollywood

Qi Qin   | Nov 28, 2014 03:31 AM EST

The Chinese big three internet giants BAT (Baidu, Alibaba, Tencent) are launching active participation in Hollywood by starting to arrange a complete industrial chain. Jack Ma will visit Los Angeles as Alibaba may set up an office there next year. Baidu will purchase digital rights with a huge sum of money, using big data to grasp consumers. Tencent seeks for cooperation with international studios to reproduce their work. read more

OPEC Decides Against Crude Oil Cutbacks Despite Falling Prices

Dan Weisman   | Nov 28, 2014 01:28 AM EST

Meeting in Vienna, Austria, Thursday, the Organization of the Petroleum Exporting Countries (OPEC) decided not to curtail oil production despite rapidly falling crude oil prices. read more

Alibaba Getting Closer with Chinese Government

Qi Qin   | Nov 26, 2014 07:29 PM EST

Jack Ma’s Alibaba Group has built up a strategic cooperative partnership with at least seven provincial governments including Hainan province and Zhejiang province on Cloud computing and big data. read more

Xiaomi Postpones Further Market Expansion Until 2015

David Curry   | Nov 26, 2014 08:03 AM EST

Xiaomi, the number one smartphone maker in China, has announced an end to market expansion, at least until the start of 2015. read more

Best Black Friday Deals on Apple Products, TVs, Laptops, Xbox One

Cory Doyle   | Nov 25, 2014 04:58 PM EST

Check out some of the most discounted prices available on Black Friday for eager consumers. read more

HBO, Tencent to Distribute Shows like 'Game of Thrones' in China

Cory Doyle   | Nov 25, 2014 02:33 PM EST

The new deal will now allow the Chinese company to stream HBO TV shows and movies on its online video distribution platform. read more

Alipay Teams Up with U.S. Retailers, Will Offer $10 Million in Black Friday Coupons

Michael A. Katz   | Nov 25, 2014 02:25 PM EST

The online payment platform of Alibaba has teamed up with major U.S. department stores to allow Chinese shoppers to make purchases with their Alipay accounts. read more

China to Wait For Q4 Data Before Cutting Rates Again

Michael A. Katz   | Nov 25, 2014 10:13 AM EST

The People's Bank of China, which unexpectedly cut rates last week, says it will wait until economic data for the fourth quarter is released before deciding on whether to cut rates further. read more

Shanghai to Become Leading Emerging Financial Center By 2019 - Survey

Marcel Woo   | Nov 25, 2014 12:30 AM EST

The recent 2015 Global Regulatory Outlook survey showed that majority of finance professionals believe Shanghai in China will become the leading emerging financial center by 2019 especially now that the center of gravity of finance is shifting to China. read more

Uproar Over University Spending $219,000 on Chinese Table

Cory Doyle   | Nov 24, 2014 06:41 PM EST

"Whether or not this is legal, it's certainly not ethical and it's a waste of taxpayer money," Assemblyman Joe Cryan said. read more

Angry Chinese Xbox Gamers Accuse Microsoft of False Advertising

Cory Doyle   | Nov 24, 2014 03:39 PM EST

Xbox One in China was advertised to include BesTV, but was never included and has yet to be added to the console. read more

Tesla, BMW Discussing Battery, Charging Partnership

David Curry   | Nov 24, 2014 07:55 AM EST

Tesla Motors and BMW are looking to partner up and work on batteries and charging tech together. read more

Failure Of OPEC To Assure Market That Oil Price Won’t Collapse Causes 4.1% Drop In WTI Net-Long Positions

Vittorio Hernandez   | Nov 24, 2014 03:55 AM EST

The once very powerful oil cartel, the Organization of Petroleum Exporting Countries (OPEC), is not impressing hedge fund managers over the group's failure to assure the market that oil prices won't collapse. read more

New York Federal Judge OKs $450M Settlement for eBook Price Fixing Case

Vittorio Hernandez   | Nov 23, 2014 07:57 AM EST

Judge Denise Cote of the United States District Court in Manhattan gave her final approval on Friday, the preliminary approval she granted Apple in August a $450 million settlement over its eBook price-fixing case. She described the amount as fair and reasonable. read more

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