More From Jerin Mathew
Wal-Mart to take on Amazon with $50-per-year fast delivery service
Service, codenamed 'Tahoe', will be similar to Amazon Prime, and is intended to boost Wal-Mart online business.
May 14, 2015
Real estate accounted for 90% of South Korea's national wealth in 2013
As of end-2013, country had net wealth of 11,039tn won, up 3.5% from 2012, according to data released by Bank of Korea and Statistics Korea.
May 13, 2015
Ethiopia capital Addis Ababa to host summit on global poverty
IMF chief Christine Lagarde and anti-poverty group representatives to attend summit.
May 13, 2015
GM recalls more than 500,000 vehicles over seat and safety belt issues
Affected models are Chevrolet Malibu sedans, and Chevrolet Colorado and GMC Canyon midsized pickup trucks.
May 13, 2015
FX fixing scandal: US considers scrapping non-prosecution deal with UBS over Libor rigging
UBS and four other global banks are set to reach settlements with US regulators.
May 13, 2015
Russia invites Greece to join Brics' New Development Bank
Invitation extended by Russian Deputy Finance Minister Sergey Storchak during telephone conversation with Greek PM Alexis Tsipras.
May 12, 2015
Apple in talks with Alibaba to launch Apple Pay in China
Apple has become the number one smartphone vendor in China, overtaking Xiaomi.
May 12, 2015
Henkel to buy Colgate-Palmolive's Australian laundry brands for €220m
Brands to be acquired generated total sales of about €110m in the 2014 financial year.
May 12, 2015
Deloitte replaces PwC as Tesco auditors, following accounting scandal
PwC has been auditing Tesco's accounts for the last 32 years.
May 12, 2015
US defends MetLife's SIFI designation and asks court to dismiss insurer's lawsuit
Companies with SIFI designation in US would be subjected to stricter regulatory oversight and tighter capital and liquidity requirements.
May 12, 2015
India nominates banker KV Kamath as first chief of Brics' New Development Bank
Kamath headed country's private banking giant ICICI Bank until April 2009.
May 11, 2015
Nasdaq tests bitcoin to make use of blockchain technology
Company intends to test blockchain in Nasdaq Private Market – the marketplace to handle pre-IPO trading among private companies.
May 11, 2015
George Osborne likely to sell RBS shares at loss now that Tories have won
Government looks at accelerating disposal of its shares in banks rescued during the 2007-2009 financial crisis.
May 11, 2015
Sharp shares plunge 30% as firm restructures itself as medium-sized
Sharp is expected cut its capital by more than 99% to ¥100m and issue preferred stock, diluting stake of common shareholders.
May 11, 2015
China faces gigantic debt pile amounting to 282% of GDP
China's total debt has quadrupled since 2007 to reach $28tn by mid-2014, says research from McKinsey Global Institute.
May 09, 2015
FX fixing scandal: Goldman Sachs ready to pay $129.5m to investors to settle lawsuit
Final accord may be reached in the "next several weeks", according to the Wall Street Journal.
May 09, 2015
BP has right to appeal some Gulf of Mexico spill claims, US judge rules
Decision could help BP limit its payout to victims of Deepwater Horizon disaster.
May 09, 2015
Visa in early-stage talks to buy former subsidiary Visa Europe for up to $20bn
Visa approached Visa Europe for deal, and firms are now reportedly working with advisers.
May 09, 2015
Android devices now account for over 50% of global mobile web traffic
Web traffic from Apple's iOS devices has come down to an all-time low of 38.8% as of April.
May 08, 2015
Swiss agrochemicals firm Syngenta confirms rejection of $45bn offer from Monsanto
Company's board unanimously decided to reject offer, which "fundamentally undervalues Syngenta's prospects".
May 08, 2015
Hutchison Whampoa gets £3.1bn funding from 5 investors for O2 acquisition
Investors agree to buy 33% stake in Hutchison's British mobile phone business, combining Three and O2 UK.
May 08, 2015
Microsoft feels Salesforce too pricey and not bidding for it
Microsoft finds valuation of cloud computing firm on the high side.
May 08, 2015
Uber submits $3bn bid for Nokia's HERE maps
Consortium of German automakers, including BMW, Audi and Mercedes-Benz, is also working on bid for HERE.
May 08, 2015
Siemens to cut another 4,500 jobs worldwide
Fresh job cuts come in addition to 7,800 announced in February.
May 07, 2015
Hedge fund mogul Daniel Loeb criticises Warren Buffett
Loeb says Buffett criticises hedge funds, yet he had first hedge fund.
May 07, 2015
Clydesdale Bank to be split from Australian parent NAB
70-80% shares of Clydesdale will be transferred to existing shareholders of NAB, and remaining 20-30% will be offered to institutional investors.
May 07, 2015
Standard Chartered reviews UK exit proposal with shareholders
Bank has no current plans to leave its domicile, says chairman John Peace.
May 07, 2015
Yahoo's Marissa Mayer highest paid female CEO in US
Mayer earns $42.1m per year in total compensation, and is also seventh-highest paid CEO in US.
May 06, 2015
China's Dongfeng denies rumours of merger with FAW and announces Zhu Yanfeng as new chairman
China's ruling communist party is looking to combine state-owned firms to make them more competitive on the international level.
May 06, 2015
Niesr cuts UK growth outlook to 2.5% ahead of election to reflect weak first quarter
In the first quarter, Britain's growth rate halved to 0.3%.
May 06, 2015
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