Thursday, October 1, 2015
Ralph Lauren is stepping down as CEO of the fashion and home decor empire that he founded nearly 50 years ago.
Amazon is testing an Uber-like service for delivering its one-hour Prime Now packages that will enlist people to deliver packages for Amazon with their own cars.
Mining giant Rio Tinto said Wednesday it is selling its stake in an Australian coal mine for US$606 million to New Hope Group, as slowing demand from China hits commodity prices hard.
Citing low energy prices, Chesapeake Energy Corp. said Tuesday it was laying off 740 employees, most of them at its Oklahoma City headquarters, after the company reported a second-quarter loss of more than US$4 billion in August.
Global stock markets bounced higher Wednesday, led by gains in Japan where investors were buoyed by expectations for more economic stimulus. But most stock benchmarks have lost ground for the quarter, weighed down by the prospect of higher U.S. interest rates and weak growth in many major economies.
Asian currencies from the South Korean won to Malaysian ringgit strengthened against the U.S. dollar Wednesday with confidence returning to trading floors as regional equity markets recovered after a global rout.
Oil prices retreated in Asia Wednesday as traders focus on a U.S. crude stockpile report, a day after growing concerns over mainland China's economy sparked a massive sell-off in shares of commodity firms.
Mainland China's securities regulator has announced the first penalties for violators of a ban imposed in July on stock sales by major shareholders as part of frantic efforts to stem a slide in prices.
Mainland China said Wednesday it will halve purchase taxes on vehicles with small engines, in an attempt to boost sales in the world's largest car market where demand has weakened.
Wednesday, September 30, 2015
The United Arab Emirates is introducing labor reforms that aim to tighten oversight of employment agreements for the millions of temporary migrant workers that comprise the bulk of the country's workforce, a top Emirati official said Tuesday.