Alibaba approved for private bank in China: regulator
Shanghai Sept 29, 2014 -
Chinese e-commerce giant Alibaba, which completed the world's largest stock offering earlier this month, has received approval to set up a private bank, it was announced Monday.
The China Banking Regulatory Commission (CBRC) said Alibaba would be the majority shareholder with a 30 percent stake in a private bank to be established in the eastern province of Zhejiang, where the company is head ...
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Activist investor urges Yahoo-AOL tie-up
New York (AFP) Sept 26, 2014 -
An activist investment firm Friday urged Yahoo to explore a tie-up with online rival AOL, saying such a deal could help the struggling Internet pioneer "unlock" value for shareholders.
Starboard Value LP, which said it had acquired a "significant" ownership interest in the company, said in an open later to Yahoo chief Marissa Mayer that bringing together the two early Internet giants could l ...
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Fashion made-in-China: fine for everyone but the Chinese
Milan (AFP) Sept 28, 2014 -
It has been called fashion's dirty little secret but according to Miuccia Prada, soon everybody will be doing it.
Made-in-China's just fine with Prada's supremo and a host of other influential industry figures.
But for Chinese companies and designers seeking to become global style players, producing high-end clothing on home soil is complicated.
Trade barriers, brand perception issue ...
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Intel to buy stake in two Chinese firms
New York (AFP) Sept 26, 2014 -
US semi-conductor maker Intel said Friday it will invest $1.5 billion in two Chinese cell phone part companies.
The California firm said it would acquire a 20 percent stake in a holding company that owns Spreadtrum Communications and RDA Microelectronics, according to an Intel statement.
The transaction should be finalized early next year.
The two Chinese companies specialize in part ...
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'Anti-Facebook' social network gets viral surge
Washington (AFP) Sept 28, 2014 -
In a matter of days, the new social network Ello, described as the "anti-Facebook" for its stand on privacy and advertising, has become perhaps the hottest ticket on the Internet.
Created last year as a "private" social network, Ello (www.ello.co) recently opened its doors on an invitation-only basis.
Because of the limited supply and strong demand, the invitations have been selling on ...
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Turkey's Erdogan dismisses new iPhone: 'Same as the last'
Istanbul (AFP) Sept 28, 2014 -
Turkish President Recep Tayyip Erdogan, known for his hostility to social networks and mobile technology, on Sunday brushed off the frenzy surrounding Apple's new iPhone 6, saying it was much the same as its iPhone 5 predecessor.
Erdogan said that he had seen the lines snaking round an Apple sales shop in New York during his visit last week to attend the UN General Assembly.
"This brand ...
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Search for MH370 to enter new phase
Sydney (AFP) Sept 29, 2014 -
The search for Malaysia Airlines Flight MH370 enters a new underwater phase this week almost seven months after the jet went missing, with two specialist ships to join the hunt.
MH370 disappeared en route from Kuala Lumpur to Beijing on March 8 with 239 people onboard and no trace of the Boeing 777-200 has been found despite a massive air, sea and underwater search.
Authorities have sinc ...
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