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Markets

Walmart takes full ownership of e-commerce site Yihaodian in China

Walmart buys the remaining 49 percent stake in Yihaodian, a Chinese e-commerce website taking full ownership of the company.

Jul 24, 2015 5:07 AM EDT

News

LeBron James' SpringHill Entertainment teams up with Warner Bros. to produce TV, film and digital content

LeBron James teams with Warner Bros. to produce movies and TV programs. NBA superstar LeBron James announced on Wednesday he is teaming up with Warner Bros.

News

YouTube hires former MTV exec Susanne Daniels to create original content

YouTube announced the hiring of Susanne Daniels, former MTV executive as the vice president for YouTube Originals, to create a more original program content.

News

Bank of America CFO exits in management shake-up

In a move to restructure top management positions, Bank of America CFO Bruce Thompson and vice-chairman David Darnell to step down. Paul Donofrio was appointed as the new CFO.

Qualcomm suffers 50% drop in Q3 profit, to cut spending by $1.4bn

Qualcomm announces a restructuring plan to split design and patent-licensing businesses. It charts a strategic realignment plan to improve execution, financial performance and growth.

Jul 23, 2015 2:08 AM EDT

Apple reports strong sales but disappoints Wall Street

Apple's strong sales and profits in the third quarter did not impress Wall Street. Technology stocks fell, with lower than expected iPhone sales and weak outlook.

Jul 23, 2015 1:57 AM EDT

FCC Chairman endorses AT&T and DirecTV merger

Tom Wheeler, the chairman of the Federal Communications Commission is supporting the AT&T's $48 billion acquisition of DirecTV.

Jul 22, 2015 4:21 AM EDT

Unilever teamed up with Alibaba to penetrate e-commerce in China

Unilever had partnered with Alibaba to reach Chinese online consumers, especially in rural areas. The partnership will be the key for Unilever to offer its exclusive products from all over the world to Chinese consumers.

Jul 21, 2015 2:46 AM EDT

PayPal shares increase by 11%, now valued at about $50 billion on its return to NASDAQ

Digital payment processor PayPal’s value increased to $52 billion on its return to NASDAQ after breaking free from eBay.

Jul 20, 2015 11:19 PM EDT

Gold prices hit 5-year low

Gold prices drops in an all time low in five years. This could be attributed to the sudden selling of gold overnight in Shanghai and New York. Investors are backing away from gold after rumors of higher US interest rates.

Jul 20, 2015 11:13 PM EDT

Greek banks reopen after three-week closure

Greek banks opened their doors for the first time in three weeks. Depositors can withdraw money, but restrictions remain.

Jul 20, 2015 10:29 PM EDT

Furniture e-retailer Made.com aims to rival Ikea, raises $60M for European expansion

Made.com promises to give Ikea a run for its money. The e-retailer says it will expand its European markets, including Germany, using $60M in newly-raised funds.

Jul 20, 2015 9:06 AM EDT

Toshiba accounting scandal to cost the company up to $3B

Toshiba faces the biggest accounting scandal in Japan today. The conglomerate expects to book losses worth 300 billion to 400 billion yen or about 2-3 billion dollars.

Jul 16, 2015 10:55 AM EDT

China GDP grows by 7% beating Reuters 6.9% forecast

China’s gross domestic product grew by 7% this year, beating Reuters’ prediction of 6.9%. This also prompts questions in the accuracy of the reports.

Jul 16, 2015 10:34 AM EDT

Greece Votes "Yes" on Reforms to Possibly Receive Bailout

Greece’s parliament voted yes to the austerity measures in order for them to receive fresh bailout and the “Grexit” from the euro. Prime Minister Alexis Tsiparas’ Syriza party deflected from his leadership with the majority voting yes.

Jul 16, 2015 4:56 AM EDT

Twilio sends letter offering to repurchase stocks to early shareholders, signalling possibility to go public

Startup Tech Company Twilio, which lets developers integrate their communications services into mobile and web through their API, sent out letters offering to repurchase stocks, which can be considered a big step that suggests it may finally go public.

Jul 16, 2015 4:44 AM EDT