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Monetary Tightening Takes Toll on China's Small, Mid-sized Businesses

Some entrepreneurs have disappeared and others have jumped off buildings almost every week since April in eastern China's Zhejiang Province. At least 80 cash-strapped businesspeople in Wenzhou, China's entrepreneurial capital, have gone into hiding or declared bankruptcy to ...

Amazon Launches Online Bookstore in China

Online shopping giant Amazon.com opened an online Chinese-language bookstore on Thursday in cooperation with a Chinese state-owned publishing group, according to a news release from Amazon. The store is being jointly operated by Amazon and the China International Publishing Group ...

Microsoft Announces Patent Deal with Samsung

Microsoft on Wednesday announced a broad cross-licensing patent agreement with Samsung, the biggest Android-related patent deal to date. Under the agreement, Microsoft will get royalty revenue on every smartphone and tablet running Google's Android mobile operating system that ...

Amazon Unveils Tablet Computer Kindle Fire

Online retail giant Amazon. com on Wednesday unveiled a tablet computer called Kindle Fire, its answer to Apple's popular iPad. The Kindle Fire retails for 199 U.S. dollars, less than half the price of the iPad, which starts at 499 dollars. "We're building premium products at non...

Renren Buys Video-sharing 56.com for $80M

Chinese social networking company Renren Inc. announced Tuesday that it will buy 56.com, an online video-sharing site in China, for 80 million U.S. dollars. The takeover of 56.com, a website where users can upload, view and share videos, marked the first major acquisition by ...

China-based Autos Struggle for Localization in Thailand

Several China-based auto-makers are currently preparing or considering to switch from importing to production in Thailand, a crucial step of localization aiming at shaking off import duties and augmenting ompetitiveness, and also a skillful move to bring themselves closer to the ...

Alibaba Eyes US Listing for HiChina

Business-to-business site operator Alibaba.com is to spin off and list one of its units in the United States. Alibaba told the Hong Kong stock exchange Monday that it was planning an initial public offering of HiChina Group, an Internet infrastructure service provider. HiChina's ...

China to encourage investment in shale gas exploration

China will encourage investment from various sources into the exploration and development of shale gas, an official said Sunday, as the world's second biggest economy seeks to diversify its energy sources. Enterprises without qualifications for shale gas exploration can join ...

China tweaks resource tax on oil, gas producers

China will adjust the resource tax ratio on oil and gas producers on the basis of both volume and value, a move that implies that the country may introduce the tax tweak nationwide to tame its explosive demand for natural resources. The State Council said on Sept 21 that the ...

U.S. Rig Count Up by Six This Week

The number of operating oil and natural gas rigs in the United States increased by six to 1,991 this week, according to a weekly report released in Houston on Friday. A total of 1,071 rigs were exploring for oil and 912 for natural gas in the U.S., with another eight rigs listed ...

Meg Whitman Named HP's New CEO

Former eBay Chief Executive Officer and California governor candidate Meg Whitman on Thursday was named Hewlett-Packard's new CEO, replacing Leo Apotheker who served 11 months on the job. "We are fortunate to have someone of Meg Whitman's caliber and experience step up to lead HP...

China's Rich Defy Global Crisis with Record-Setting Wealth Growth: Hurun Founder

Despite the looming global financial crisis, the average wealth of China's richest individuals surged in the past year, a researcher announced on Thursday in Beijing. "China's rich have defied the global financial crisis with another record year of growth," said Rupert Hoogewerf, ...

Facebook Adds New Profile Feature

Facebook on Thursday introduced Timeline, a new profile design featuring milestones of one's life on a single page. At Facebook's f8 developer conference, Chief Executive Officer Mark Zuckerberg promoted the new feature, a blog-like presentation that let users scrolls vertically ...

HP Board Considers Firing CEO Apotheker: Reports

Hewlett-Packard's board of directors is considering firing Chief Executive Officer Leo Apotheker after 11 months on the job and replacing him with former eBay CEO and California governor candidate Meg Whitman, multiple reports said on Wednesday. Whitman, who joined the HP Board, ...

Bad Apples: Porn Finds Way into App Store

A dirty worm has found its way into the core of Apple's App Store software platform, china.org.cn reported Monday. Apple fans are now reporting finding pornographic apps among download rankings, the report said, adding that three of the 100 most popular apps have been suspected ...

GM, SAIC Power up to Lead Electric Cars

General Motors Corp and its Chinese partner SAIC Motor Tuesday agreed to co-develop a platform for a new generation of electric vehicles in China, the first joint development between a Chinese auto company and a foreign auto group. The move will further deepen the strategic ...

Google Opens Its Social Network to Web Surfers

Google on Tuesday announced to open signups of its social network "Google+" after a 90-day invitation-only trial run. Google's move came two days before Facebook's scheduled function to introduce its new social web building solution known as f8, which is targeting developers, ...

Taobao Mall Projects Sales to Blossom

Taobao Mall, Alibaba Group's business-to-consumer shopping site, forecasts transactions may reach 100 billion yuan (US$15.6 billion) this year and double to 200 billion yuan in 2012. Taobao Mall Monday unveiled 38 domestic independent online retailers, including online department ...

Airbus Sees Raised Demand for 27,800 Aircraft by 2030

European aircraft maker Airbus on Monday said it expect a strong demand commercial aircraft in the next 20 years, according to the company's newly released Global Market Forecast. According to the forecast, Airbus predicted some 27,800 passenger and cargo aircraft would be sold ...

Google Launches Google Wallet

Google, the world's leading search engine, officially launched on Monday Google Wallet, allowing users to pay by tapping NFC-enabled Android phone against a compatible card reader. According to a Google blog post, the mobile payment app will be pushed to all Sprint Nexus S 4G ...
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