Beijing is struggling with public anger over a lending crisis after a wave of online, peer-to-peer lending platforms went BUST since June. As Ed Giles reports, it follows an official campaign to deal with China's rising debt.
VF Corp will spin off its denim business that houses Lee and Wrangler jeans into an independent public company, it said on Monday, seeking to sharpen its focus on more profitable brands such as Vans shoes and The North Face outdoor wear.
World markets shuddered on Monday, as Turkey's worsening currency crisis persuaded investors to dump equities and emerging markets and flee to safer assets such as government bonds and the dollar. As Sonia Legg reports, banks dragged European shares down as the crisis shook investor confidence in lenders exposed to the country.
Once the heart of South Korea's post-war industrial transformation, Ulsan, also known as 'Hyundai Town,' is now reeling from Chinese competition, rising labor costs and its over-reliance on Hyundai. Grace Lee reports.
Turkey's lira has pulled back from an overnight record low of 7.24 to the dollar after the central bank pledged to provide liquidity and cut lira and foreign currency reserve requirements for Turkish banks. As Francis Maguire reports, the announcement came after Finance Minister Berat Albayrak said authorities would start implementing an economic action plan on Monday morning.
Asia share markets skidded and the euro hit one-year lows on Monday as a renewed rout in the Turkish lira drove demand for safe harbors, including the U.S. dollar, Swiss franc and yen.
Tesla Inc and Chief Executive Elon Musk were sued on Friday by an investor who said they committed securities fraud in a scheme to “completely decimate” short-sellers that included Musk’s proposal to take the electric car company private.
U.S. stocks slid as a deepening economic crisis in Turkey dragged on bank stocks and triggered fears that it could spread to other global economies. Roselle Chen reports.
Tesla's board has not yet received a detailed financing plan from CEO Elon Musk, and is seeking more information about how he will take the U.S. electric car maker private in a proposed deal worth $72 billion. Roselle Chen reports.
Global stock markets slid Friday amid widespread concern over Turkey's economy and a deepening rift between the capitol and the United States.
Russia warned the United States on Friday it would regard any U.S. move to curb the activities of its banks as a declaration of economic war which it would retaliate against, stepping up a war of words with Washington over spiralling sanctions.
The movement against sexual harassment has finally spread to China, despite censorship and cultural barriers. New, high-profile allegations target executives in tech and media. Katrina Hamlin and Pete Sweeney discuss how far the campaign might go.
"I have just authorized a doubling of tariffs on steel and aluminum with respect to Turkey as their currency, the Turkish lira, slides rapidly downward against our very strong dollar!" Trump posted on Twitter. Roselle Chen reports.
Ryanair cancelled roughly one in six of its flights on Friday after pilots based in Germany voted to join 24-hour stoppages set to hit Europe's biggest airline in Ireland, Sweden and Belgium. Thuy Ong reports
Britain's economy grew 0.4 percent in the second quarter after a sharp winter slowdown earlier in the year but lost momentum in June, official data showed on Friday. Thuy Ong reports.
Japan's economy grew more than expected in the second quarter, helped by strong household and business spending and recovering from an earlier contraction, but global trade tensions loom as major risks to the export and investment outlook. David Pollard reports.