Driven by ambitions to make China a great power, President Xi Jinping is staking his political authority on a huge task: overhauling the Chinese military. The New York Times reports.» Read More
July 11- Crumbs Bake Shop Inc may get a second chance if a bankruptcy judge approves a deal for the owner of Dippin' Dots ice cream and the star of a reality television show to buy and reopen the U.S. cupcake chain, according to a court document.
Maria Zhang, a senior director of engineering at Yahoo Mobile, has been sued by Nan Shi, who worked as a principal software engineer in Yahoo from February 2013, according to a complaint filed on July 8 in Santa Clara Superior Court in San Jose, California.
WASHINGTON, July 11- The U.S. Congress will ultimately support an extension of an interim agreement of talks on Iran's nuclear program, lawmakers and congressional aides said, despite calls by Republicans and some Democrats to abandon negotiations and return to tough sanctions to deter Tehran from building a nuclear bomb.
July 11- Mondelez International Inc, maker of Cadbury chocolate and Oreo cookies, said it would create a "stand-alone" European cheese and grocery business to focus on its fast-growing snacks business, including biscuits, gum and candy.
July 11- Investors withdrew assets worth nearly $400 million from Saba Capital Master Fund, a unit of Boaz Weinstein's Saba Capital Management LP, the Wall Street Journal reported on Friday.
July 11- Ford Motor Co said about 500,000 of its vehicles were being investigated by the National Highway Traffic Safety Administration for steering problems. The company will cooperate with the NHTSA investigation, Ford spokeswoman Kelli Felker told Reuters in an email.
July 11- Chrysler Group LLC said it would recall almost 900,000 sport utility vehicles to fix the wiring for vanity mirror lights in sun visors, to prevent short circuits. About 651,000 of the 895,000 vehicles being recalled are in the United States.
July 11- Chrysler Group LLC said it would recall almost 900,000 sport utility vehicles to fix the wiring for vanity mirror lights to prevent any potential short circuits. The recall affects some 2011-2014 models of Jeep Grand Cherokee and Dodge Durango, the company said in a statement.
July 11- Nordion Inc, a Canadian supplier of medical isotopes, said it had cleared a U.S. antitrust hurdle, paving the way for the company to be acquired by Sterigenics. The U.S. Federal Trade Commission terminated the waiting period for the acquisition under the Hart-Scott-Rodino Antitrust Improvements Act, Nordion said in a statement.
MUMBAI, India— European stock markets rebounded Friday after slumping on worries about the soundness of a bank in Portugal, while trading in Asia was muted over the specter of more financial turmoil in Europe. The euro rose slightly to $1.3609, indicating that the Portugal scare had not rattled confidence in Europe for very long.
BANGALORE, July 11- India's second largest IT services provider Infosys Ltd said on Friday it would boost investment in cloud computing, smartphone apps and other new technologies to win more high-margin outsourcing contracts.
As food inflation nears 10 percent, the new government of Prime Minister Narendra Modi faces accusations that it is doing no better at reining in prices than the Nehru-Gandhi dynasty's Congress party, which suffered its worst election defeat in May.
MUMBAI, India— Indian outsourcing company Infosys reported a 15 percent increase in quarterly profit on Friday and maintained its revenue growth forecast. Sikka is a former board member of technology company SAP AG and is the first outsider to hold the CEO job at Infosys. Infosys shares rose 1.1 percent to 3,326 rupees after the earnings report.
MANILA, Philippines— A Philippine court entered a not-guilty plea Friday for a senator and dictatorship-era martial law enforcer who has been detained on charges of economic plunder with two other colleagues, bringing the case a step closer to what would be the country's largest corruption trial in more than a decade.
MUMBAI, India— Asian stock markets were muted Friday, following the lead of Wall Street traders spooked by worries about the soundness of a bank in Portugal that raised the specter of more financial turmoil in Europe.
BANGALORE, July 11- Infosys Ltd, India's second-largest software services exporter, beat estimates with a 21.6 percent rise in quarterly net profit and retained sales growth outlook for this year on surging demand for outsourcing services.
BANGALORE, July 11- Infosys Ltd, India's second-largest software services exporter, posted a 21.6 percent increase in quarterly net profit, beating estimates, as it won new outsourcing contracts from overseas clients.
July 10- Whirlpool Corp, the world's largest maker of home appliances, said it will buy 66.8 percent of voting stock of Italian white goods maker Indesit Company SpA for about 758 million euros to spur its growth in Europe.
July 10- Online music sharing service SoundCloud Ltd is close to a deal with Universal Music Group, Sony Music Entertainment, and Warner Music Group for licenses to continue playing their songs and avoid potential legal disputes, Bloomberg reported citing people with knowledge of the matter.
July 10- Germany's ZF Friedrichshafen said it was in early-stage buyout talks with U.S. auto parts supplier TRW Automotive Holdings Corp.. The companies did not disclose any financial details of the deal, but a Bloomberg report said ZF valued TRW at $11 billion to $12 billion.