Business

Controversial American Apparel Founder and CEO Sacked by Company Board

Katie Collom   | Jun 19, 2014 10:31 AM EDT

The controversial founder and CEO of American Apparel faces termination by the company board. Dov Charney has faced sexual harassment allegations in the past, but the board declined to specify whether or not it was firing the CEO for those reasons. read more

Documentary Film on Jack Ma Released in Digital Format Ahead of Alibaba IPO

Kristina Fernandez   | Jun 18, 2014 01:35 PM EDT

Film documentary on Jack Ma, Founder and Executive Chairman of Alibaba Group, is released in digital format amidst preparations for the e-commerce giant's IPO. read more

Haier To Lay Off 10,000 Workers This Year

Marcel Woo   | Jun 17, 2014 11:42 AM EDT

Chinese home electronics and appliances manufacturer Haier Group announced that it will lay off around 10,000 workers this year, after cutting 16,000 jobs last year, as part of its adjustment in relation to the changing market in China. read more

Alibaba Updates IPO Prospectus

Bianca Ortega   | Jun 17, 2014 12:04 PM EDT

Hangzhou, China-based e-commerce firm Alibaba updated its initial public offering (IPO) prospectus on Monday, and revealed its 27-person partnership, its board members, and its current financial status. read more

HKMA Launches Money Laundering Probe on Hong Kong Banks

Bianca Ortega   | Jun 17, 2014 09:41 AM EDT

The Hong Kong Monetary Authority (HKMA) launched a probe on several Hong Kong banks for possible breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). read more

LinkedIn Follows Google’s Lead, Reveals Employee Data

Abhinav Sethi   | Jun 17, 2014 06:48 PM EDT

Joining Google, LinkedIn released its employee demographic data for the first time this Thursday. According to the data the employee are mostly male and white. read more

China Auditing Office Uncovers $1.1B Misappropriation in Power Grid Project

Bianca Ortega   | Jun 17, 2014 02:10 AM EDT

China’s National Audit Office (NAO) uncovered a $1.1 billion (CNY6.7 billion) fund misappropriation in a major trans-regional power grip project in the country. read more

China Inc Overtakes US as World’s Top Borrower –S&P

Bianca Ortega   | Jun 17, 2014 01:08 AM EDT

China’s corporate bond market overtook the US as the world’s top borrower, set to take up one-third of the world’s company debt needs in the next five years, ratings agency Standard & Poor’s said. read more

Great Wall Motors Denies Plan to Lay Off 20,000 Workers in China

Marcel Woo   | Jun 16, 2014 04:24 AM EDT

Chinese car manufacturer Great Wall Motors Corporation has denied media reports that it will lay off around 20,000 workers in China within this year due to dwindling sales. read more

15-Year Old Becomes Millionaire From Bitcoin, Launches Startup

Abhinav Sethi   | Jun 16, 2014 03:51 AM EDT

Eric Finman received $1,000 from her grandmother in 2012, which he decided to invest in the online currency Bitcoin. 18 months later he sold his investment for a whopping $1,000,000, and used the money for launching Botangle.com, an online tutoring service based on video chat. read more

Univision Conducts Potential Sale Talks with CBS, Time Warner

Bianca Ortega   | Jun 13, 2014 01:49 PM EDT

Univision Communications Inc engaged in potential sale talks with CBS Corp, Time Warner Inc, and other media firms in its bid for an exit, sources familiar with the situation said. read more

World Cup 2014: What’s In It for Investors?

Bianca Ortega   | Jun 13, 2014 07:58 AM EDT

The World Cup 2014 in Sao Paulo, Brazil is bound to produce negative results for investors, based on opinions of the locals, but some analysts predict that it could produce positive results for the country if it triggers long-term structural changes. read more

Top 10 Best Cities In China To Earn More Money

Acsilyn Miyazaki   | Jun 13, 2014 09:30 AM EDT

A list was revealed by the Research Department of China Investment Network showing the top 10 best cities in the country to earn more money. read more

Michael Jordan Becomes a Billionaire After Upping Stake in Hornets

Bianca Ortega   | Jun 13, 2014 05:09 AM EDT

Basketball legend Michael Jordan reached the billionaire status after upping his stake in the Charlotte Hornets from 80% to 89.5%. read more

Air China Opens New Beijing-Washington Route

Acsilyn Miyazaki   | Jun 12, 2014 12:52 PM EDT

Air China announces opening a new flight from Beijing to Washington, flying four times a week. read more

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