DETROIT, March 4- EcoMotors, a Michigan- based engine maker backed by Microsoft founder Bill Gates and venture capitalist Vinod Khosla, has formed a joint venture in China with a subsidiary of First Auto Works. FAW's manufacturing partners in China include Volkswagen AG, Toyota Motor Corp and General Motors Co.» Read More
In a complaint filed on Thursday in U.S. District Court in Chicago, plaintiff Gregory Greene said Mt. Gox and its chief executive, Mark Karpeles, were negligent and committed fraud for having failed to protect the Tokyo- based exchange from theft.
*Bitcoin exchange files for Ch. 11- type bankruptcy protection in Japan. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system.
Chief executive Mark Karpeles, bowing in contrition and wearing a suit instead of his customary T-shirt, apologised in Japanese at a news conference for the company's collapse, blaming "a weakness in our system."
Gox, once the world's biggest bitcoin exchange, has filed for bankruptcy protection at the Tokyo District Court, Japanese media reported on Friday. The website of Tokyo- based Mt. Gox went dark on Tuesday, raising concerns about the future of the unregulated virtual currency.
*Sun Art hit 1-1/ 2- year low ahead of 2013 earnings. HONG KONG, Feb 28- Hong Kong shares fell on Friday afternoon, with mainland markets also weaker, as investors cut their exposure in cyclical outperformers ahead of a manufacturing survey and a key China parliamentary meeting next week.
Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another as it struggles with weak demand in North America, and has identified 6,192 positions for job cuts as part of a previously announced plan.
TOKYO, Feb 22- Honda Motor Co is considering diversifying its all-Japanese, all-male board by appointing a foreigner and could move as early as Monday, when it unveils its next slate of directors, sources close to the company said.
Feb 21- Ariad Pharmaceuticals Inc, which has been struggling with safety concerns involving its only approved drug, said it agreed to add two directors backed by its second-largest investor Sarissa Capital Management to its board.
MUMBAI, Feb 12- India's Piramal Enterprises Ltd said it will join with Canada Pension Plan Investment Board to set up a $500 million fund to finance residential property projects in India.
China may have the world’s second-largest economy but here are five reasons why it will fail to dominate global commerce, says investor Ed Sappin.
Chinese companies are flocking to the U.S. IPO market, undeterred by an accounting row between Washington and Beijing.
Now, Hyundai and its affiliate Kia Motors Corp are again looking to invest in new manufacturing capacity, running feasibility studies in promising markets such as Mexico and scouting for a site for a fourth plant in China, the world's biggest autos market, said five people familiar with the group's plans.
*JD.com could be second-biggest Chinese IPO in the United States. Some 30 Chinese companies could list in the United States this year, according to investment bankers interviewed by Reuters.
BISHKEK, Feb 6- Kyrgyzstan's parliament on Thursday gave the government up to four months to finalize a draft deal with Canada's Centerra Gold on forming a 50-50 joint venture to run the country's Kumtor gold mine.
Feb 5- U.S. drugmaker AbbVie Inc on Wednesday said it will spend $320 million to set up a manufacturing facility in Singapore to produce new drugs for cancer and immunology now in development. AbbVie's existing presence in Singapore includes 120 personnel supporting commercial operations, global R&D and general operations, the company said.
Feb 4- Wal-Mart Stores Inc said on Tuesday it would invest about C $500 million this year to strengthen its presence in Canada, creating more than 7,500 jobs including construction. Wal-Mart's expansion plans comes a week after Target Corp said it would open nine new stores across Canada, adding to the 124 it opened last year.
ABU DHABI, Feb 2- Etihad Airways and Alitalia are in the final phase of due diligence for a possible investment by the Abu Dhabi carrier in the troubled Italian airline, the companies said on Sunday.
NEW YORK, Jan 31- Wal-Mart Stores Inc Friday cut its quarterly profit outlook because of a host of issues, including reduced food stamp benefits and the restructuring of Sam's Club's in the United States and the closing of stores in Brazil and China.
NEW YORK/ SEATTLE, Jan 30- Microsoft Corp is likely to appoint its cloud-computing head, Satya Nadella, as its next chief executive, a source familiar with the matter said on Thursday, as the board concludes a five-month search for a tech-savvy heavy-hitter to lead the world's largest software company.
NEW YORK/ SEATTLE, Jan 30- Microsoft Corp is close to naming a new chief executive, most likely its cloud-computing head Satya Nadella, a source close to the matter said on Thursday, concluding a five-month long search for a heavy-hitter to lead the world's largest software company.