Business

Saudi Arabia to Open Stock Market to Foreign Investors

Ren Benavidez   | Jul 22, 2014 03:55 AM EDT

Saudi Arabia will open the country's US$531-billion stock market to international investors, removing barriers on one of the world's most restricted major stock exchanges. read more

China Food Scandal: Starbucks, Burger King Counted In

Staff Reporter   | Jul 22, 2014 03:35 AM EDT

A latest Chinese food scare is sweeping up global chains, Starbucks, Burger King and others as well as some outlets of McDonalds in Japan. read more

Geopolitical Tension Weakens US Stocks

Ren Benavidez   | Jul 22, 2014 01:38 AM EDT

US stocks closed lower on Monday as investors kept a worried look at the ongoing tension in Russia following the Malaysia Airline Flight MH17 shot down in Ukraine. read more

Rise in Subscriber Numbers Boosts Netflix Profits

Rhona Arcaya   | Jul 21, 2014 11:33 PM EDT

US-based online video streaming provider Netflix announced profits more than doubled for the second quarter of the year thanks to strong growth in subscribers at home and overseas. read more

'Work Only 3 Days a Week,' Says Billionaire

Kizha Trovillas   | Jul 21, 2014 11:18 PM EDT

Carlos Slim, the 74-year-old Mexican titan and the second richest man in the world, has urged people to work just three days week and have a four-day weekend in order to have more time to relax and to have new ways to be entertained. read more

Barclays Plc’s Shares Decline After New York Lawsuit

Ren Benavidez   | Jul 21, 2014 10:30 PM EDT

Shares of Barclays Plc have been declining for two weeks now following a lawsuit filed by New York attorney general, Bloomberg reported. read more

Herbalife Shares Fall after Ackman Vows to Unveil Company’s Enron-Like Fraud

Patricia Villaceran   | Jul 21, 2014 11:38 PM EDT

The shares for Herbalife Ltd. decline during the past three months after Bill Ackman, head of Pershing Square Capital Management LP, said he will reveal the Enron-like fraud made by the direct sellers of the weight loss supplements and shakes. read more

Colombia's Juan Valdez Coffee Growers Builds Brand in Miami

Patricia Villaceran   | Jul 21, 2014 10:50 PM EDT

Juan Valdez, a popular coffee growers brand in Colombia named after a fictional farmer, has launched a coffee shop in Miami on Monday. read more

Tesco Replaces CEO With Unilever Executive After Profit Warning

Patricia Villaceran   | Jul 21, 2014 10:41 PM EDT

Tesco has let go of chief executive officer Philip Clarke, replacing him with a Unilever specialist after the company was warned that Clarke would miss another profit forecast. read more

Russian Billionaires Say Undeclared War Against Ukraine is Badly Damaging Russia's Economy

Patricia Villaceran   | Jul 21, 2014 10:04 PM EDT

Say Russia is becoming insolated internationally. read more

Huawei First Half-Year Sales Rise 19 Percent

Rhona Arcaya   | Jul 21, 2014 01:41 PM EDT

Chinese telecom equipment vendor Huawei announced sales increased 19 percent to 135.8 billion yuan (US$21.9 billion) for the first six months of the year. read more

Forbes Media Sells Majority Stake to Asian Investment Group

Rhona Arcaya   | Jul 21, 2014 08:47 AM EDT

A group of international investors led by Hong Kong-based Integrated Asset Management (IAM) is purchasing a majority stake in U.S. business news company Forbes Media. read more

Yum Brands, McDonald's China Supplier Shut Down, Faces Investigation

Marcel Woo   | Jul 21, 2014 04:35 AM EDT

OSI Group, the Illinois-based owner of Shanghai Husi Food, has confirmed that the Shanghai-based meat supplier of Yum Brands and McDonald's in China is under investigation. read more

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