The decades-old system of providing cradle-to-grave welfare support, known as the country's "iron rice bowl", system started by the Chinese government has been ordered to be smashed specifically with respect to the state firms.   But the decades-old system of providing cradle-to-grave...

Claiming that data from more than 1 billion user accounts was compromised in August 2013, making it the largest breach in history, Yahoo Inc warned on Wednesday that it had uncovered yet another massive cyber attack.   The company had noted nearly half of the number of accounts hacked this...

After a Chinese official warned the government could slap a penalty on an unnamed U.S. automaker for monopolistic behavior, shares of U.S. automakers General Motors Co and Ford Motor Co skidded on Wednesday.   It was only a few days ago that U.S. President-elect Donald Trump questioned the...

Sumner Redstone's holding company National Amusements Inc is under pressure to buy or partner with peers in an industry where scale matters after its decision to abandon a merger of its prized media assets, CBS Corp and Viacom Inc.   Scale was crucial for both companies, because it would...

In cyber attacks earlier this year, hackers stole technical trade secrets from the steel production and manufacturing plant design divisions of ThyssenKrupp AG, the German company said.   Engaged in what it said were "organized, highly professional hacker activities", it had been targeted by...

In what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump, retailer Wal-Mart de Mexico has announced that it will invest $1.3 billion in logistics in Latin America's No. 2 economy.   Wal-Mart spokeswoman Jo Warner assured the media...

A transformation at the former Dutch conglomerate, Philips, that its chief executive says will gather pace was reflected in the fact that these days the average researcher at Philips is more likely to be a software developer than an product engineer.   Noting that around 60 percent of the...

A verdict of $1 billion in damages against Johnson & Johnson last week over allegations of design flaws in its Pinnacle hip implant would be challenged in terms of the fairness of the trial that resulted in the fine, the company said.   The Texas jury's penalty, the largest product...

Accelerating its push into the automotive electronics market, Japan's Panasonic Corp may buy European automotive light maker ZKW Group, reported news agency Reuters citing information derived from a person familiar with the matter.   While claiming that ZKW was not negotiating with Panasonic...

If the German semiconductor equipment maker sells its Silicon Valley division to get around U.S. objections, analysts said that the sale of Aixtron to Chinese investors could go ahead under new terms.   Aixtron U.S., the division of the Germany company in California where nearly a fifth of...

Due to money laundering breaches related to Malaysia's scandal-tainted 1MDB fund, the local units of U.K.-based Standard Chartered Bank and Coutts were imposed penalties by Singapore's central bank, it said on Friday.   The central bank have earlier this year ordered the closure of the local...