US stocks rise as Wall Street grows calmer after big swings

The Dow Jones Industrial Average and S&P 500 Index both rose yesterday, following the previous session’s late surge. Technology shares were among the few laggards, as chipmakers weighed

Los Angeles Times sold to local billionaire for USD500 million

The Los Angeles Times is being sold to a local billionaire for USD500 million, opening a new chapter for the 136-year-old newspaper’s staff after an outright rebellion

Mozambique approves Anadarko’s USD20 billion natural gas plan

Mozambique’s council of ministers approved the development plan for Anadarko Petroleum Corp.’s liquefied natural-gas project in the north of the nation, an investment estimated at about USD20

Global stock markets tumble after Wall Street battering

Stock markets around the world took a battering yesterday, following a dramatic sell-off on Wall Street that triggered concerns that a potentially healthy pullback from record highs could

‘China’s Hawaii’ has a gambling plan: These may be winners

Beijing’s ambitions to bring more tourists and gambling to an island billed as China’s Hawaii is sparking visions of a rapid transformation for an important provincial region. The plan

Corporate Bits | MGM announces bonuses for employees

MGM announced that two bonuses, a Discretionary Bonus and a Special Bonus, will be paid to eligible non-management team members. Both bonuses will add up to 14 months of

Chinese funds buy record USD1.6b of Hong Kong stocks today

Hong Kong’s stock market now has a sizable bulwark against global bearishness: Chinese buyers from north of the border. After the benchmark Hang Seng Index plunged as much

Alibaba buys stake in Wanda Film in USD1.2b share sale

Alibaba Group Holding Ltd. has agreed to buy a stake in Dalian Wanda Group Co.’s cinema operator as billionaire Wang Jianlin’s real estate-to-entertainment conglomerate turns to another Chinese

US airlines try and fail to raise fares as fuel costs jump

U.S. airlines are asking shareholders to believe they can raise ticket prices while ramping up the supply of seats. To Wall Street, that sounds like a fairy

The Buzz | ‘Small Percentage’ of iPhone 7s need component repair

Apple Inc. said a “small percentage” of iPhone 7 smartphones may experience a component failure that makes it appear the phone isn’t connected to cellular networks even when

Electric buses will take over half the world’s fleet by 2025

Nearly half of the municipal buses on the road around the world will be electric within seven years, with China expected to dominate the

Chinese tycoon said to near US hotel purchase

Chinese real estate tycoon Cai Kui’s family office is in advanced talks to buy a U.S. hotel portfolio from MassMutual for as much as USD800 million, a

Alibaba to buy a third of Ant Financial, paving way for IPO

Alibaba Group Holding Ltd. will buy 33 percent of Ant Financial, helping to clear the way for an initial public offering of the Chinese payments

Corporate Bits | Jardines career expo to be held tomorrow

Organized by the Jardine Matheson Group, the first-ever Jardines Career Expo Macau will be held tomorrow from 2 p.m. to 6 p.m. at the Mandarin Oriental

Corporate Bits | 44 graduate from sands china business management diploma

Sands China and the University of Macau’s Center for Continuing Education honored the third group of graduates for completing the customized one-year diploma program in business

Reports: DOJ, SEC probe Apple for slowing older iPhones

U.S. authorities are investigating Apple’s slowing of older iPhones, according to published reports. The Wall Street Journal and Bloomberg reported Tuesday that the Department

Earnings surge for Samsung Electronics on huge chip profit

Quarterly earnings surged again for Samsung Electronics, thanks to its record- breaking chip business. The South Korean company said yesterday that its October-December earnings jumped

Ikea fortune falls to no one after billionaire founder’s death

When Ikea’s Ingvar Kamprad died Saturday at age 91, he was ranked No. 8 on the  Bloomberg Billionaires Index thanks to his control of

China factory activity slows to 8-month low

Chinese manufacturing started the year off at a slower pace as factory activity eased to its weakest level in eight months on softer demand, especially

Beijing orders Muji to destroy catalog over ‘problem map’

CHINA’S foreign ministry yesterday told foreign companies to “respect China’s sovereignty” after Japanese retailer Muji was ordered to destroy a catalog that Beijing complained mislabeled Taiwan and

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