Business News

Xiaomi creates new management jobs aimed at CEO succession planning

BEIJING (Reuters) - Chinese smartphone maker Xiaomi Inc (1810.HK) said on Friday it will rejig its businesses and create new leadership positions aimed at building a second tier to CEO Lei Jun, amid increased scrutiny of governance and successions at Chinese tech firms. The firm would introduce two new departments to advise Lei on strategy and oversee hiring, promotion and pay, Lei said in a memo to staff dated Sept....

14 Sep 6:14 AM 0 Read More...

Hyundai Motor Group names heir apparent as chief vice chairman

SEOUL (Reuters) - Hyundai Motor Group appointed heir apparent Euisun Chung as chief vice chairman on Friday, moving him a step closer to succeeding his father as head of South Korea’s second largest conglomerate. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was promoted to respond to “deteriorating global trade issues and changes in competitive dynamics in major markets,” Hyundai M...

14 Sep 6:14 AM 0 Read More...

Amazon's Jeff Bezos commits $2 billion to help homeless, pre-schools

(Reuters) - Jeff Bezos, Amazon.com Inc’s (AMZN.O) founder and the world’s richest person, said on Thursday he will commit $2 billion to helping homeless families and starting pre-schools for low-income communities. The announcement marks a deeper foray into philanthropy for Bezos, whose fortune has soared to more than $160 billion thanks to his stake in Amazon. Dominance in e-commerce and the nascent field of clo...

14 Sep 6:14 AM 0 Read More...

Oil prices claw back on supply concerns though but demand worries drag

TOKYO (Reuters) - Oil on Friday clawed back some of its losses from the previous session, when prices fell the most in a month, as concerns about oil supply are countering worries that emerging market crises and trade disputes could dent demand. Brent crude was up 8 cents, or 0.1 percent, at $78.26 a barrel by 0338 GMT, after falling 2 percent on Thursday. The global benchmark rose on Wednesday to its highest since M...

14 Sep 6:14 AM 0 Read More...

Amazon CEO says ‘HQ2’ decision will be announced before end of year

14 Sep, 2018 EngageNewswire.com is a high ranking blog, press release and news publishing website. We publish content from trusted sources. WASHINGTON (Reuters) – Amazon.com Inc chief executive Jeff Bezos said on Thursday that the company would announce a decision on where it would build a second headquarters before th...

14 Sep 3:30 AM 0 Read More...

Google’s China plan spurs inquiry from U.S. lawmakers, staff departures

(Reuters) – A bipartisan group of 16 U.S. lawmakers asked Alphabet Inc’s Google (GOOGL.O) on Thursday if it would comply with China’s internet censorship and surveillance policies should it re-enter the Chinese search engine market. The questioning added to the pressure on Google to disclose precautions it would take to protect the safety of its users if Chinese regulators allow its search engine to oper...

14 Sep 3:30 AM 0 Read More...

China will not ‘surrender’ to U.S. demands in trade talks: state paper

SHANGHAI (Reuters) – China will not buckle to U.S. demands in any trade negotiations, the major state-run China Daily newspaper said in an editorial on Friday, after Chinese officials welcomed an invitation from Washington for a new round of talks. China and the United States are set to return to the table with the threat of new U.S. tariffs looming after Treasury Secretary Steven Mnuchin extended the invita...

14 Sep 3:30 AM 0 Read More...

Sears’ same-store sales losses narrow but warns it may go out of business

(Reuters) – Sears Holdings Corp (SHLD.O) reported a smaller decline in quarterly same-store sales on Thursday, but warned again that there is doubt about the company’s continued operation as it awaits approval to sell some of its businesses to its chief executive’s hedge fund. “It is imperative that the Company reduce debt, adjust its debt maturity profile and eliminate the associated cash interest obl...

14 Sep 3:30 AM 0 Read More...

Google's China plan spurs inquiry from U.S. lawmakers, staff departures

(Reuters) - A bipartisan group of 16 U.S. lawmakers asked Alphabet Inc’s Google (GOOGL.O) on Thursday if it would comply with China’s internet censorship and surveillance policies should it re-enter the Chinese search engine market. The questioning added to the pressure on Google to disclose precautions it would take to protect the safety of its users if Chinese regulators allow its search engine to operate. More...

14 Sep 1:11 AM 0 Read More...

China will not 'surrender' to U.S. demands in trade talks: state paper

SHANGHAI (Reuters) - China will not buckle to U.S. demands in any trade negotiations, the major state-run China Daily newspaper said in an editorial on Friday, after Chinese officials welcomed an invitation from Washington for a new round of talks. China and the United States are set to return to the table with the threat of new U.S. tariffs looming after Treasury Secretary Steven Mnuchin extended the invitation to c...

14 Sep 1:11 AM 0 Read More...