China's Dalian Wanda group and Tencent said they would set up an $814 million e-commerce joint venture with Baidu as the firms compete with Alibaba.» Read More
Malaysia Airlines to cut 6,000 staff in overhaul. KUALA LUMPUR, Malaysia— Malaysia Airlines will cut 6,000 workers as part of a $1.9 billion overhaul announced Friday to revive its damaged brand after being hit by double passenger jet disasters.
Tensions in the South China Sea may seem far off to Western investors, but any conflict in the region could affect the world economy.
LONDON, Aug 29- Copper edged higher on Friday as the euro steadied, but prices were still on track for their biggest monthly loss since March on worries that rising tensions in Ukraine could set back global growth and hit metals demand.
Yahoo’s survival depends on it making more investments in a few key areas, industry experts said.
SYDNEY/ LONDON, Aug 29- Copper edged higher on Friday as the euro strengthened, but prices were still on track for their biggest monthly loss since March on worries that rising tensions in Ukraine could set back global growth and hit metals demand.
LONDON, Aug 29- For the world's hard-pressed aluminum producers the current outlook is the rosiest in many years. That's largely thanks to the combination of a robust London Metal Exchange price, currently trading around $2,100 per tonne, its highest level since early 2013, and historically elevated physical premiums.
*Malaysia Airlines to cut staff by 30 pct to 14,000. KUALA LUMPUR, Aug 29- Malaysia Airlines will slash nearly a third of its 20,000 workforce and cut back its global route network as part of a radical 6 billion ringgit restructuring following the devastating impact of two jetliner disasters.
KUALA LUMPUR, Malaysia— Key dates in the history of Malaysia Airlines from its start as a one route airline until its almost unfathomable double passenger jet disasters in 2014.. 1937— Malayan Airways Ltd., the forerunner of Malaysia Airlines, is formed to provide flights between Penang in Malaya and Singapore, both part of the British empire at the time.
HONOLULU— China should act like a regional leader and help resolve territorial disputes in the South China Sea without coercion instead of raising tensions, the head of American forces in Asia and the Pacific said Thursday.
BEIJING— China's biggest property developer, Wanda Group, and Internet giants Baidu and Tencent unveiled a new e-commerce venture Friday in a challenge to industry leader Alibaba Group ahead of its U.S. stock offering. The company is preparing for a U.S. initial public offering that analysts say might value it between $150 billion and $200 billion.
BEIJING— Tesla Motors Co. and a state-owned Chinese phone carrier announced plans Friday to build 400 charging stations for electric cars in a new bid to promote popular adoption of the technology in China. Promoters of electric cars see China as a promising market due to Beijing's support for the technology and eagerness to reduce smog.
Aug 29- Hong Kong's benchmark index ended flat on Friday after three successive days of losses, supported partly by strength in mainland markets although lackluster corporate earnings capped gains. The Hang Seng Index reversed the morning's losses to end flat at 24,742.06 points.
HONG KONG, Aug 29- Hong Kong's stock exchange has asked Chinese regulators to give investors time to adjust to any tax rules agreed upon as part of a closely watched cross-border share trading scheme, two people briefed by the city's stock market operator said.
KUALA LUMPUR, Malaysia— Malaysia Airlines will cut 6,000 workers as part of a $1.9 billion overhaul announced Friday to revive its damaged brand after being hit by double passenger jet disasters.
SHANGHAI, Aug 29- China shares rose on Friday as banks recovered from recent losses and aviation firms outperformed, supported by expectations of reform measures for the sector. The CSI300 of the leading Shanghai and Shenzhen A-share listings ended up 1.2 percent, while the Shanghai Composite Index gained around 1 percent to 2,217.2 points.
HONG KONG, Aug 29- China shares rose on Friday, buoyed by banks and outperforming aviation counters, while the Hong Kong market slipped again on profit-taking and lackluster earnings. The Hang Seng Index, which has declined the past three days, slipped 0.3 percent to a two-week low at 24,678.14 points.
SHANGHAI, Aug 29- The yuan edged higher versus the dollar on Friday and is set to rise nearly 1 percent in August in the third straight month of gains, with China's improving exports helping boost market sentiment towards the Chinese currency, traders said.
His crime was contributing to research that led his employer to recommend short sales of Silvercorp Metals, a silver producer that is based in Canada but does its mining in China.
China's defense budget nearly three times Japan's. TOKYO, Aug 29- Japan's defense planners are seeking their biggest budget ever for the coming fiscal year to pay for stealth fighters, drones and a hi-tech submarine, as Prime Minister Shinzo Abe bolsters the military amid an intensifying rivalry with China.
SYDNEY, Aug 29- London copper futures were mostly unchanged on Friday, but prices were on track for their biggest monthly loss since March on worries that escalating tensions in Ukraine could set back global growth and hit metals demand. *The most-traded October copper contract on the Shanghai Futures Exchange fell 1 percent to 49,740 yuan a tonne.