Business

McDonald’s Supplier in Shanghai Ordered Closed Over Food Safety Concerns

Rhona Arcaya   | Jul 21, 2014 12:25 AM EDT

Chinese authorities have suspended the operations of the company that supplies meat products to McDonald’s, KFC and Pizza Hut because of concerns over food safety. read more

Alibaba Blackmailed Ahead of US IPO

Marcel Woo   | Jul 20, 2014 11:48 PM EDT

Chinese e-commerce giant Alibaba announced that it has filed a police report against a media institution that allegedly tried to blackmail the company ahead of its multi-billion dollar listing in the United States. read more

China's Debt Fueled Growth Could Spark Slowdown by 2015

Arthur Dominic Villasanta   | Jul 20, 2014 03:56 AM EDT

Beijing's "targeted stimulus" strategy isn't working any longer. read more

Dell Teams Up with Coinbase, Now Accepts Bitcoin Payments

Marcel Woo   | Jul 19, 2014 01:05 AM EDT

American Computer technology firm Dell Inc has become the biggest retailer so far to embrace digital money after it announced accepting Bitcoin for purchases on its website. read more

Pot of Gold: The Growing Marijuana Industry Reshapes Colorado and Washington Economies

Nikki Alfonso   | Jul 19, 2014 01:02 AM EDT

Since the legalization of Marijuana in both Colorado and Washington this year, the drug has attracted thousands of entrepreneurs and investors to take part in this evolving and, apparently lucrative industry. read more

Alibaba Sets New Timetable for IPO

Rhona Arcaya   | Jul 18, 2014 11:25 PM EDT

Paperwork and a number of unresolved issues prompted Alibaba Group Holding Ltd. to push back the date of its initial public offering. read more

Microsoft's Massive Lay-off Plan to Affect Engineering Unit in Beijing

Marcel Woo   | Jul 18, 2014 10:58 AM EDT

Microsoft Corporation's plan to cut jobs by up to 18,000, or around 14 percent of its total workforce, will affect its phone engineering unit in Beijing as the company seeks to concentrate its engineering efforts in Finland, said Executive Vice President Stephen Elop. read more

FedEx Could Face US$1.6 Billion Fine for Delivering Illegally Sold Drugs

Marcel Woo   | Jul 18, 2014 04:03 AM EDT

The United States Justice Department has charged FedEx Corp with conspiracy to deliver or distribute painkillers and other prescription drugs sold illegally by unregistered pharmacies. read more

Malaysian Airlines Plane Crash Triggers Gold Price Surge

Bianca Ortega   | Jul 17, 2014 11:21 PM EDT

The crash of Malaysian Airlines Flight MH17 near the Russian border triggered a surge in the price of gold from US$1,300 per ounce to US$1,318 amid fears of more political trouble in the Ukraine. read more

Coca-Cola China Employees Get Extra Pay for Exposure to Polluted Air

Rhona Arcaya   | Jul 17, 2014 10:52 AM EDT

As more and more foreign workers avoid China because of its air pollution problem, multinational companies are looking for ways to keep staff from leaving: they are offering their expatriate workers a generous hazard pay. read more

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