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
Aug 28- OncoMed Pharmaceuticals Inc said the U.S. Food and Drug Administration lifted a partial hold on patient enrolments for three trials testing its experimental cancer drug, vantictumab. OncoMed is developing the drug in collaboration with Germany's Bayer AG. The FDA formally placed a partial hold on vantictumab, following the voluntary halt.
Aug 28- Teen apparel retailer Abercrombie& Fitch Co's same-store sales declined for the tenth straight quarter as it struggled to attract customers who held back discretionary spending amid wage cuts and fewer jobs.
KUALA LUMPUR, Aug 28- Malaysia Airlines has warned of poor second-half earnings as passenger bookings continue to fall in response to the loss of two aircraft in separate disasters this year.
Aug 28- Johnson& Johnson is recalling some lots of its implant used to correct defects of the jaw following more than a dozen cases of injury. The device, which is used to lengthen and stabilize the lower jawbone and the side of the lower jaw, is being recalled by JNJ unit DePuy Synthes as it may reverse after surgery.
Aug 28- Digital Ally Inc, a maker of wearable cameras, said it received an order of more than $1.1 million from the Michigan police force. Interest in makers of security cameras has surged as pressure mounts on the police for a transparent investigation into the Aug. 9 shooting of 18- year-old by a policeman in Ferguson, Missouri.
KUALA LUMPUR, Aug 28- Malaysia Airlines on Thursday reported another financial loss and warned of poor second-half earnings, as passenger bookings tumbled in response to the loss of two aircraft in separate disasters this year.
Aug 28- Teen apparel retailer Abercrombie& Fitch Co's quarterly sales fell 6 percent as customers cut back on discretionary spending amid wage cuts and fewer jobs. The company's shares were down 8 percent in premarket trading on Thursday.
Aug 28- Dollar General Corp, the No.1 U.S. deep discount retailer, said it remained committed to acquiring rival Family Dollar Stores Inc and that its offer was both superior and achievable than an offer from Dollar Tree Inc.
YANGON, Myanmar— A U.S investment group has signed a $480 million deal to build two solar energy plants in central Myanmar, one of the largest investments by an American firm since the easing of U.S. sanctions.
Aug 28- Dollar General Corp, the No.1 U.S. deep discount retailer, said it remained committed to acquiring rival Family Dollar Stores Inc and reported a 7.5 percent rise in quarterly sales.
BP said its largest U.S. refinery, at Whiting, Indiana, continued to operate on Thursday morning following a blaze the night before.
NEW DELHI— India's state-owned banks are conducting a massive campaign to open millions of accounts for poor Indians who are off the financial grid and vulnerable to black market money lenders. "The goal is to sign up 150 million people by 2018. About half of India's 1.2 billion people lack bank accounts.
Aug 28- Mobile payment startup Square Inc, co-founded by Twitter Inc Chairman Jack Dorsey, is in talks to raise $200 million, at a valuation of $6 billion, Bloomberg reported, citing a person with knowledge of the matter.
Aug 28- An explosion shook BP Plc's Whiting, Indiana refinery, its largest in the United States, on Wednesday night but a resulting fire had been contained as of 9:30 pm local time, according to a report by WFLD-TV.
MANILA, Philippines— The Philippine economy expanded by 6.4 percent in the second quarter and tied with Malaysia as the second fastest growing in Asia during the period, officials said Thursday.
Aug 28- Private equity firm Lion Capital LLP has told American Apparel Inc that it is exercising its right to fill one of the two vacant board seats it controls at the apparel retailer, the Wall Street Journal reported, citing people familiar with the matter.
Aug 27- Repros Therapeutics Inc said its experimental drug to treat low testosterone was superior to a leading marketed gel and a placebo in the first of two identical studies. Patients who were given the drug, Androxal, experienced superiority in sperm concentration compared with those who used Abbvie Inc's AndroGel, said the company.
Aug 27- Repros Therapeutics Inc said its experimental drug to treat low testosterone was superior to a leading marketed gel and a placebo in two studies. Patients who were given the drug, Androxal, experienced superiority in sperm concentration compared with those who used Abbvie Inc's AndroGel, said the company.
Aug 27- Lear Corp, a maker of auto seats and electrical power systems, said it would buy automotive leather supplier Eagle Ottawa LLC for $850 million to strengthen its core seating business and boost its luxury seats portfolio.
Aug 27- Alibaba Group Holding Ltd's revenue accelerated in the second quarter on strong gains in its mobile business, providing investors with what may be the final glimpse of the Chinese e-commerce company's financials before its expected landmark market debut.