Business

BMW Recalls 1.6 Million Cars Worldwide For Faulty Airbags

Desiree Sison   | Jul 17, 2014 05:29 AM EDT

German automaker BMW has recalled 1.6 million vehicles worldwide for faulty airbags read more

Chinese Incomes Rise Steadily in First Six Months

Marcel Woo   | Jul 16, 2014 08:26 PM EDT

China's steady economic growth seemed to have benefitted Chinese people as the National Bureau of Statistics (NBS) revealed that average incomes of residents in the country continued to increase in the first six months of this year. read more

Is BRICS Bank Going Against the IMF? Brazilian President Rousseff Says No

Marcel Woo   | Jul 16, 2014 07:16 PM EDT

The new development bank set up by the emerging-market bloc of BRICS (Brazil, Russia, India, China and South America) is not going against the existing western-backed International Monetary Fund (IMF), said Brazilian President Dilma Rousseff. read more

Mideast Food Chains Look to Expand Overseas

Rhona Arcaya   | Jul 16, 2014 07:19 PM EDT

In an attempt to keep pace with international competition, Mideast food chains are going global. read more

Hershey's Chocolates Now Cost More

Marcel Woo   | Jul 16, 2014 02:32 AM EDT

merica's leading candy and chocolates producer Hershey Co announced an overall 8 percent price increase for its chocolates. read more

Microsoft Could Cut More than 5,800 Jobs

Marcel Woo   | Jul 15, 2014 11:30 PM EDT

Microsoft Corp is set to unveil the biggest round of job cuts in five years, possibly topping the 5,800 jobs cut in 2009, in an announcement this week, two reliable sources revealed. read more

StarTimes Media Picks Kenya for US$8 Million Investment

Staff Reporter   | Jul 15, 2014 11:35 AM EDT

China's StarTimes Media is setting up its Africa headquarters in Kenya, in a sign of approval of Nairobi's economic policies. read more

Electricity Consumption in China Up 5.3% in Jan-June Period

Marcel Woo   | Jul 15, 2014 05:11 AM EDT

The National Energy Board of China said total electricity consumption in the country reached 2.6276 trillion kilowatts in the first six months of this year. read more

Bank of Japan Maintains Stimulus Program, Keeps Inflation Forecast

Marcel Woo   | Jul 15, 2014 04:29 AM EDT

Japan's central bank, Bank of Japan (BOJ), announced during its regular news conference on Tuesday that it will maintain its vast stimulus program and hold on to its forecast that the country's inflation will hit the 2 percent target in 2015. read more

21st Century Fox Exits Bona Film Group, Sells Stake for US$70 Million

Marcel Woo   | Jul 15, 2014 04:05 AM EDT

American multinational media firm 21st Century Fox has exited China's movie studio and distributor Bona Film Group by selling its entire 19 percent stake for over US$70 million. read more

Citigroup to Provide US$180 Million Affordable Rental Housing Financing as Part of US$7 Billion Settlement

Marcel Woo   | Jul 15, 2014 02:33 AM EDT

The US Attorney General announced that Citigroup has agreed to pay USD7 billion to settle a federal inquiry for its role in the sale of risky mortgage-based securities that led to the financial crisis and vowed to provide financing of up to US$180 million to build affordable rental housing. read more

Alibaba, Lionsgate Team Up to Offer TV, Movie Subscription Streaming for China

Desiree Sison   | Jul 15, 2014 02:00 AM EDT

Alibaba has teamed up with Lionsgate to offer TV and movie streaming service for china read more

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