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Rina S.

Elizabeth Holmes is the founder of Theranos

Forbes Cuts Estimates of Theranos Net Worth to $800 Million, Down from $9 Billion

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.

SoftBank Offloads $7.9 Billion Worth of Alibaba Stock

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.

Alibaba to Invest in AI Search Technology

Alibaba to Invest in Search Developer Twiggle

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.

Stuntman Jeb Corliss Performed a feat at the Great Wall of China

Daredevil Stuntman ‘Human Arrow’ Darts Across the Great Wall of China

Rina S. |

May 31, 2016 05:38 PM EDT

Professional adventure sportsman Jeb Corliss performed a heart-stopping stunt at the Great Wall of China on Sunday. The stunt saw him splitting a target suspended above the Wall. The 'Human Arrow' was armored with a wingsuit.

Dalian Wanda Group May Relist Shares on Shanghai Stock Exchange

Dalian Wanda Offers Record bid to Delist Hong Kong Unit

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.

China is reporting to be considering building an underwater lab in South China Sea.

China to Send Nuclear Submarines to Pacific to Deal With US

Rina S. |

May 31, 2016 08:15 AM EDT

China is expanding its military capabilities to counter the US in the region. After months of building its base in the South China Sea, Beijing has now decided to deploy nuclear submarines to the Pacific Ocean. This is the first time that China will deploy nuclear arms to the area.

Xi Jinping Emphasised in Additional Care for Elderly

President Xi Jinping Exhorts China to Invest in Elderly Care

Rina S. |

May 30, 2016 06:26 PM EDT

Chinese president Xi Jinping has said that the country should endeavor to increase its investment in providing care for the elderly. Speaking at a meeting of the Political Bureau of the Communist Party' Central Committee, Jinping stated that there is a massive gap between elderly people's expectations for a happy life in their old age and reality.

Mars is coming closest to earth on 30th May

Mars Coming Closest to Earth on May 30: What to Expect

Rina S. |

May 30, 2016 09:57 AM EDT

Mars will be at its closest point to the Earth in 11 years on May 30th. The red planet will be 76 million kilometers (47.2 million miles) away from Earth. This phenomenon will begin at 2:35 PM Pacific Time.

Wang Jianlin Opened a New Theme Park in China

Wanda Intensifies War With Disney: Opens New Park

Rina S. |

May 29, 2016 10:17 AM EDT

Chinese business tycoon Wang Jianlin inaugurated a new "Wanda City" in Nanchang on Saturday, signaling corporate war with Disney. The theme park features rides, an aquarium and shopping centers. The city is said to have cost more than $3 billion. A statement released by the group claims that the park has "the highest and longest roller coaster and the highest drop tower in China."

China Reported Decline in Its Industrial Profit Growth Rate in April

China Reports Slower Industrial Profit Growth Rate in April

Rina S. |

May 27, 2016 01:34 PM EDT

China's major industrial firms reported a 4.2 percent increase in their profits in the month of April, down from the 11.1 percent increase reported in March.

China Devalued its currency by 0.3 percent

China Depreciates Currency to 5 Year Low

Rina S. |

May 27, 2016 01:03 PM EDT

The People's Bank of China has weakened the Yuan to the lowest level since March 2011.

Alibaba has been asked for more Accounting Information by SEC

Alibaba Under SEC Investigation for Accounting Practices

Rina S. |

May 26, 2016 08:16 AM EDT

U.S. regulators have initiated an inquiry into Alibaba's accounting practices following its annual blockbuster sales day last year.

Wang Jianlin is Ready to Compete With Disney in China

Rina S. |

May 25, 2016 10:49 AM EDT

Billionaire Chinese tycoon Wang Jianlin has unveiled his plans to build a competing park to give stiff competition to the new Disneyland theme park in Shanghai. Disney will inaugurate its first theme park in mainland China on June 16 this year. Jianlin's Dalian Wanda Group also engages in the theme park business.

China Group Buys Stake in Sport Rights Firm MP & Silva

Rina S. |

May 25, 2016 09:44 AM EDT

Chinese fund Shanghai Jinxin Investment Advisory Partnership Company has acquired a 65 percent stake in international media rights company MP & Silva. The investment fund includes partners such as Beijing Boafeng Technology Co. and Everbright.

Renaud Laplanche is the founder of LendingClub

Shanda Group Boosts Stake in LendingClub to 11.7 Percent

Rina S. |

May 24, 2016 11:47 AM EDT

Singapore-based Shanda Group has upped its stake in LendingClub, giving the beleaguered company's stock a healthy fillip. Shanda Group acquired an 11.7 percent share in the online lending company. The purchase, along with shares and options, makes Shanda one of the largest shareholder in LendingClub.