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Citing Government Rule Change, Alibaba Tells Vendors to Halt Online Drug Sale

Citing reasons that a local regulator has issued an "urgent" directive halting drug sales via third-party platforms, Chinese e-commerce firm Alibaba Group Holding Ltd has told vendors on its Tmall website to stop selling medicine.   A circular from the Hebei province branch of the China Food...

China’s New Electric Car that can be Charged Just Beside Your Phone

Before starting Autohome Inc., China’s premier car-buying portal, Li Xiang was earning 10 times more than his parents from part-time jobs when he left school in 1999 to focus on a website.   After the success of the website, he now plans to design and build cars also.  ...

Market Share of Saudi Aramco being Boosted Listing Preparations Continue

As Saudi oil giant Aramco acts as a "bridge" to a future when the nation relies less on energy exports, it is gaining market share and pushing for greater efficiency, said the chief executive of the company Amin Nasser in an interview.   The partial privatization via a stock market listing...

GE Clinches Deal for Supplying Engines for South Korea’s Homegrown Fighter Jets

The US electrical giant General Electric Co has won a deal that could be worth an estimated $3.5 billion over a European consortium to supply engines for its homegrown KF-X fighter jet project for South Korea.   South Korea is in a process to develop its own fighter jets to reduce its heavy...

Novartis Stake in Roche will be sold without Demanding Premium, says Company CEO

In a surprise move that was announced on Wednesday, shares worth nearly $14 billion in rival company Roche would be sold by Swiss drugmaker Novartis without demanding a premium. This was announced by the Chief Executive of Novartis, Joe Jimenez.   Last month, news agency Reuters had reported...

Samsung Changes Strategy to Halt Smartphone Side

Samsung Electronics has undergone a painful process of breaking from its past to reverse a slide in its handset business by changing the way it chooses smartphone components to the models it brings to market. By ultimately defying industry convention by opting for fewer pixels in exchange for...

Improvement of Labor Conditions in its Suppliers’ Factories in India, Cambodia being worked out by H&H

Following revelations of violations in supplying garment factories in India and Cambodia in a study that was recently released, Swedish fashion retailer Hennes & Mauritz (H&M) said it was collaborating with trade unions, government as well as the U.N. to improve workers' conditions.  ...

Tesla's Goals for Model 3 Output Questioned by Suppliers: Reuters

The planned acceleration of the launch of high-volume production of its Model 3 to 2018 by Tesla Motors inc has been termed as being potentially difficult to achieve and potentially costly by supplier executives and industry consultants. This announcement has also surprised parts makers of the...

$1.7 billion in New Stock to be Sold by Tesla to Fund Model 3

Tesla Motors announced that to finance the accelerated launch of its new Model 3 electric sedan, the electric luxury car maker said that it will offer up to $1.7 billion of new common stock.   The announcement which came after the market closed, Tesla shares fell 2.2 percent following the...

Media Reports say SWIFT Security Scrutinized by Major US Banks

Media reports making the rounds of banking and technology markets claims that following cyber attacks in Bangladesh and Vietnam involving fraudulent transfer requests a number of major U.S. banks are scrutinizing security of the SWIFT messaging network.   The Wall Street Journal reported,...

Deutsche Bank Chairman to be Pressurized by Shareholders

As shareholders consider launching an investigation into management's response to scandals that have cost it billions of euros in fines, sharp criticism awaits the Deutsche Bank's chairman at the bank's annual general meeting on Thursday.   An opportunity to challenge Paul Achleitner's...

India, an Important Growth Market on the Radar of Apple CEO Tim Cook

Seeking to make further inroads in the world’s fastest-growing smartphone market, Apple Inc. Chief Executive Officer Tim Cook will unveil a development center for digital maps during his multiday visit to India this week, sources were quoted by media to be saying.   Cook will also introduce...
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