12/23/2024 07:14:16 pm
12/23/2024 07:14:16 pm
Rina S. | Jun 02, 2016 03:31 PM EDT
In a latest setback to Theranos, Forbes has announced a shocking reduction in its founder's net worth. Elizabeth Holmes, the company founder, who was placed at the top of Forbes list of Richest Self-made women last year is reportedly worth nothing. She was estimated to be worth $4.5 billion, due to her 50 percent stake in Theranos. read more
Girish Shetti | Jun 02, 2016 06:15 PM EDT
US electric-car manufacturer Tesla Motors will deliver its Model X to Chinese customers by the end of this month, instead of first quarter of next year, a senior Tesla official told state-owned newspaper China Daily. read more
Som Patidar | Jun 02, 2016 05:52 PM EDT
Etihad Airways plans to add more routes in China to boost traffic flows and expand in the country. read more
Christian George Acevedo | Jun 02, 2016 05:36 AM EDT
Jason Jian joins the billionaire ranks from around the world after Focus Media’s market capitalization zoomed to $20 billion. read more
Christian George Acevedo | Jun 02, 2016 05:31 AM EDT
Elizabeth Holmes success story was what every self-made entrepreneur’s dream. In fact, Forbes welcomed her to its list of America’s Richest Self-Made Women. With $4.5 billion, she topped the list. However, Forbes otherwise thought she wasn’t a billionaire anyway. The business magazine eventually downgraded estimates of her fortune to virtually nothing. read more
Girish Shetti | Jun 02, 2016 04:44 PM EDT
The head of Swiss Pharmaceutical giant Novartis Joe Jimenez said on Wednesday that demand for pharmaceutical products in China will continue to outshine Europe and the US despite the ongoing economic slowdown and other critical factors like falling drug prices and regulatory challenges. read more
Christian George Acevedo | Jun 01, 2016 09:23 PM EDT
Saudi Arabia is injecting $3.5 billion to Uber, keeping its valuation unchanged at $62 billion. read more
Rina S. | Jun 02, 2016 09:53 AM EDT
Japanese firm SoftBank has announced that it is liquidating $7.9 billion worth of its stake in Alibaba Group Holding Ltd. The sale will reduce SoftBank's share in Alibaba from 32.2 percent to about 28 percent. read more
Rina S. | Jun 02, 2016 09:45 AM EDT
Alibaba is betting big on Artificial Intelligence by investing in Israeli search startup firm Twiggle. The investment will help the Chinese e-commerce giant to boost its position in the sector. read more
Girish Shetti | Jun 01, 2016 09:58 AM EDT
Xiaomi Corp. has purchased around 1,500 patents from Microsoft Inc. as the Chinese smartphone manufacturer seeks to expand beyond China and other emerging markets. The patent deal covers wireless communications, video, cloud and multimedia technologies. The financial details of the agreement have not been disclosed. read more
Marcel Woo | May 31, 2016 08:22 AM EDT
A defect in windshield wipers triggered a massive recall of Cherokee sports utility vehicles in China, according to the country's top quality watchdog. read more
Girish Shetti | May 31, 2016 09:12 AM EDT
China's HNA Aviation Group, which owns China's fourth largest airline Hainan Airlines, is set to buy a 13 percent stake in Australia's airline company Virgin Australia for an estimated $159 million. HNA plans to further increase its share to 19 percent in the Australian company. read more
Rina S. | May 31, 2016 09:00 AM EDT
China's Dalian Wanda group has increased its bid to $4.4 billion to buy out its Hong Kong-based Dalian Wanda Commercial Properties. The group plans to delist from Hong Kong and take the unit private. The group may decide to relist the company in Shanghai for better valuations. The current offer is 10 percent higher than the initial offer made on March 30. read more
Charissa Echavez | May 31, 2016 08:25 AM EDT
Xiaomi continues to reign in the Chinese smartphone market, achieving a record-high 26 percent market share in April, according to a study conducted by a local firm. read more
Charissa Echavez | May 31, 2016 07:48 AM EDT
The China-made Jeep Renegade subcompact crossover has been officially kicked off on the car market with prices ranging between 141,800 yuan ($21,500) and 178,880 yuan ($27,100). read more
Due to the coronavirus, people around the world have canceled their travel plans. Governments and health officials have warned the public to avoid boarding cruise ships and long flights. read more
