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China fines GSK $492m for bribery

BEIJING (AP) ― Drugmaker GlaxoSmithKline was fined $492 million on Friday for bribing doctors in China, the biggest such penalty ever imposed by a Chinese court.The court sentenced the company’s for...

Updated : 2014.09.21 19:16

Apple iPhone 6 Plus outselling smaller model: survey

More buyers are picking Apple Inc.’s iPhone 6 Plus over the iPhone 6 in this debut weekend, according to a Piper Jaffray Cos. survey, and supplies of the larger model already are selling out in some ...

Updated : 2014.09.21 19:15

Yahoo rakes in another jackpot from Alibaba’s IPO

SAN FRANCISCO (AP) ― Yahoo is making amends for years of blundering with one smart move: an early investment in Alibaba Group that has turned into a multibillion-dollar boon.The latest windfall came with Alibaba’s record-setting IPO completed late Thursday, in which the Chinese e-commerc...

Updated : 2014.09.21 19:15

Global crackdown on tax avoidance in place from 2017, OECD says

About 40 countries will crack down on tax avoidance by multinational companies from 2017 under a global plan, the Organization for Economic Cooperation and Development said. Nations are committed to t...

Updated : 2014.09.21 19:15

G20 vows to breathe new life into world economy

CAIRNS, Australia (AFP) ― G20 nations including the United States and China said Sunday they can overcome geo-political tensions and financial risks to achieve extra combined growth of 1.8 percent, a...

Updated : 2014.09.21 19:13

Argentina’s poverty risks quadrupling: WB

Argentina risks quadrupling its poverty level as the economy stalls, the World Bank says. Those living on $4-$10 per day, or 33 percent of Argentina’s population as of 2012, are vulnerable to falling into poverty in the case of an adverse shock, according to the World Bank’s 2015-2018 re...

Updated : 2014.09.21 19:13

Alibaba group said to raise $21.8 billion in record U.S. IPO

(Bloomberg) – Alibaba Group Holding Ltd., the e-commerce company started in 1999 with $60,000 cobbled together by Jack Ma, cemented its status as a symbol of China’s economic emergence by raising $21.8 billion in a U.S. initial public offering. The company and shareholders including Yaho...

Updated : 2014.09.19 20:55

Apple to unveil new iPads, operating system on Oct. 21: report

A pedestrian carries a shopping bag as she passes a giant Apple Inc. logo outside a new Apple store on Princess Street in Edinburgh. (Bloomberg)Apple Inc. is set to launch two new iPads and release th...

Updated : 2014.09.18 21:20

Apple iOS 8 software bug affects health apps

NEW YORK (AP) ― A bug in Apple’s new iOS 8 software for mobile devices is prompting the company to withhold apps that use a highly touted feature for keeping track of fitness and health data.Apple says it hopes to have HealthKit apps restored to its app store by the end of the month. Aff...

Updated : 2014.09.18 21:19

India, China leaders to discuss trade, investment

NEW DELHI (AP) ― Chinese President Xi Jinping vowed to bring prosperity to Asia and create opportunities for the world as he and India’s Prime Minister Narendra Modi began talks Thursday to deepen c...

Updated : 2014.09.18 21:19

Asia’s billionaires see fastest wealth growth

SINGAPORE (AFP) ― Asia’s billionaires led by Chinese tycoons enjoyed the fastest increase in their wealth this year compared to their peers in the rest of the world, a report said Wednesday.The comb...

Updated : 2014.09.18 21:19

Fed keeps rates low, for now

WASHINGTON (AP) ― Record-low interest rates will be around for at least a few more months, the Federal Reserve made clear Wednesday.Enjoy the easy money while it lasts.By mid-2015, economists expect ...

Updated : 2014.09.18 21:18

Diamonds aren’t forever

HONG KONG (AFP) ― The De Beers diamond cartel warned Wednesday that global production will decline from 2020, a trend that could spell pricier bling for consumers.A dearth of major new diamond finds means that production might not keep up with ever-increasing demand from the United States...

Updated : 2014.09.18 21:18

UPS raises peak hiring 73%

NEW YORK (Bloomberg) ― United Parcel Service Inc. will boost seasonal hiring by as much as 73 percent from its peak plan in 2013, when a surge in late e-commerce orders left the company unable to meet holiday deadlines.The temporary workforce will number as many as 95,000 people to handle...

Updated : 2014.09.17 20:51

U.S. CEOs less optimistic about hiring, spending

WASHINGTON (AP) ― Optimism among chief executives at the largest U.S. companies fell in the July-September quarter after reaching a two-year high in the previous quarter. The Business Roundtable said Tuesday that its CEO outlook index fell to 86.4 in the third quarter, down from 95.4 in t...

Updated : 2014.09.17 20:50