Police broke in to the Hong Kong headquarters of global taxi-hailing service Uber Inc. on Tuesday and took five drivers into custody for the alleged "illegal use of vehicles for hire," police said.
Alibaba Holding's honeymoon with foreign investors is over since the Chinese e-commerce giant broke records for an initial public offering at the New York Stock Exchange in September 2014 by raising $25 billion fresh capital. Since then, price of Alibaba stock has tumbled down to a record-low of 35 percent from its November 2014 IPO price, 14 percent above the IPO price of $68.
In poverty-stricken Chongli County under the administration of Zhangjiakou, Hebei Province, property prices have dramatically increased this past week after China won the bid to host the 2022 Winter Olympics in Beijing and Zhangjiakou.
The world’s financial industry was shocked after China devalued the yuan for two consecutive days. Many economists were led to believe that the latest move from the second largest economy in the world is probably suffering from a major economic meltdown.
In a bid to boost flagging sales, Pepsi is no longer using aspartame as artificial sweetener. The soda firm instead now uses sucralose.
Ant Financial, a financial services affiliate of Alibaba Group Holding Ltd., has led investors to raise $200 million for a startup that provides microloans to Chinese students, the Wall Street Journal reported.
Unlike the U.S., Europe and Japan’s quantitative easing program (QE), Beijing has declared that the People’s Bank of China (PBOC) will attempt to support the economy by expanding its own balance sheet and conducting indirect purchasing of bonds.
Hisense, one of the largest TV manufacturers with headquarters based in eastern China's Shandong Province, has just bought Sharp's Mexico division.
Pope Francis picked a new personal doctor ahead of his visit to Cuba and the United States.
The world has relied so much on Google that the news of the powerful company transforming into a holding called Alphabet has kept everyone looking out for the next events including the possible inclusion of Twitter in Alphabet. Google CEO Larry Page wrote an open letter in Google Blog to introduce Alphabet and clear everyone on the tech giant's directions.
China's e-commerce giant Alibaba will invest 28.3 billion yuan ($4.6 billion) in exchange for a 19.99-percent stake in leading consumer electronics retailer Suning, the two companies said in a joint statement on Monday.
Four years after the earthquake that rocked Japan that caused tsunami and the closure of all the country's nuclear plants, Tokyo backpedaled on Tuesday.
A "one-off depreciation" by the Bank of China on Tuesday of the country's currency, the yuan, caused a 1 to 2.5 percent slide down in the prices of commodities such as copper, aluminum, nickel and zinc.
China Telecom Shanghai has denied claims that the slow Internet connection is part of a business ploy to drive customers to sign up to premium services, the Shanghai Daily reported.
China’s homegrown manufacturing companies are now eyeing other countries to set up new plants, setting a growing trend toward expansion to foreign markets and industrial upgrading for China’s manufacturing industry.
