Cathay Pacific posts $74 million annual loss due to overcapacity, intense competition
Shares of Hong Kong's flag carrier dipped almost seven percent following the profit loss of HK$575 million for 2016, which was down from an HK$6 billion profit from the previous year.
Mar 16, 2017 8:11 AM EDT
Audi, VW sites raided by German prosecutors in emissions-scandal probe
Buyers of some 80,000 V6 3.0-litre Audi and VW diesel cars that were sold in the US from 2009 to 2015 were unaware of the emissions scandal
Neiman Marcus up for sale, Saks Fifth Avenue owner expresses potential buy out
Hudson's Bay Co., owner of Saks Fifth Avenue, has expressed its interest in buying Neiman Marcus that would exclude the latter's debts.
Toshiba looking to sell controlling stake in Westinghouse Unit
Toshiba president Satoshi Tsunakawa sidesteps questions for a Chapter 11 filing for Westinghouse and says there are various options.
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HSBC breaks tradition, names AIA boss Mark Tucker as chairman
The chief executive of the Asian life insurer AIA Group will take over as HSBC chair on October 1, the first outsider to take on the role that breaks an HSBC tradition.
Mar 15, 2017 6:12 AM EDT
Apple found guilty of price-fixing practices in Russia, regulator says
Tech giant Apple is found guilty of fixing the price of iPhones in Russia for several years. Tech giant Apple is found guilty of fixing the price of iPhones in Russia for several years.
Mar 15, 2017 6:05 AM EDT
Vodafone vows to create 2,100 jobs in the UK to enhance quality of customer service
Mobile tech giant Vodafone is slowly trying to recover its tarnished reputation over the botched IT billing system and poor customer service record by hiring thousands of call center employees in the UK.
Mar 14, 2017 6:10 AM EDT
Intel buys Israeli tech, self-driving car company Mobileye in a $15.3 billion deal
Intel is moving into self-driving cars as part of its strategy to build up its position in emerging areas of computer technology.
Mar 14, 2017 6:08 AM EDT
Atlanta Fed appoints first African-American regional president as major step in diversity
The move marks as a progress for Atlanta Fed in regards to diversity as Bostic becomes the first African-American regional president in its history.
Mar 14, 2017 6:05 AM EDT
Trump banks on big tech investment from Middle East
US President Donald Trump met SoftBank Vision Fund Masayoshi Son just weeks after taking his seat on the presidency to discuss a huge new technology fund and investment.
Mar 13, 2017 12:30 PM EDT
US jobs increase in Trump's first full month projecting economic optimism
Employers added 235,000 US jobs in February as per a Labor Department report released on Friday. US employers added 235,000 jobs in February as per a Labor Department report released on Friday.
Mar 13, 2017 9:26 AM EDT
Sears posts another quarterly operating loss
Embattled US department store operator posts another quarterly operating loss that is even worse than the previous corresponding period which the company attributes to having fewer Kmart and Sears Full-line stores in operation.
Mar 12, 2017 10:57 PM EDT
Wells Fargo reshuffles execs, demotes three managers over fake account scandal
Scandal-ridden bank initiates organizational clean-up due to alleged mistreatment of workers aside from the popular fake account scandal. Wells Fargo vows to be a more streamlined, efficient and consistent consumer bank.
Mar 11, 2017 9:14 AM EST
Staples closes 70 stores amid disappointing stocks and sales
Traditional brick-and-mortar stores have been under pressure for some time due to greater online competition, which led Staples to close 4.5 percent of its store in 1,600 locations.
Mar 11, 2017 9:13 AM EST
Airbnb closes $1 billion round of investment funding making it second most valuable start-up in US
The San Francisco-based firm offered not to comment further on how it would use the investment funding, instead it expressed its intention to expand operations globally.
Mar 10, 2017 9:06 AM EST
Swedish retailer H&M joins Better Than Cash Alliance
Swedish retailer, H&M, joins the United Nations' Better Than Cash Alliance, a partnership of governments, companies and international organisations which aims to accelerate the transition from cash to digital payments.
Mar 09, 2017 7:49 PM EST
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