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US firm in China meat scandal lays off 340 staff

shanghai husi food co.

A U.S. meat supplier said Monday it is laying off most of the workforce of a Chinese subsidiary accused of selling expired beef and chicken to McDonald’s, KFC and other major restaurant chains.

Posted: September 22nd, 2014 in Latest Business Stories | Read More »

Alibaba stock soars in jubilant trading debut

Jack Ma, center, founder of Alibaba, raises a ceremonial mallet before striking a bell during the company's IPO at the New York Stock Exchange, Friday, Sept. 19, 2014 in New York. The stock is to start trading Friday under the ticker "BABA." AP

Alibaba debuted as a publicly traded company Friday and swiftly climbed nearly 40 percent in a mammoth IPO that offered eager investors seemingly unlimited growth potential and a way to tap into the burgeoning Chinese middle class.

Posted: September 20th, 2014 in Latest Business Stories | Read More »

India, China leaders to discuss trade, investment

Indian Prime Minister Narendra Modi shakes hand with visiting Chinese President Xi Jinping in New Delhi, India, Thursday, Sept. 18, 2014. Jinping and Modi will hold talks aimed at boosting trade and Chinese investment even as their troops face-off along their disputed border in the Himalayas. AP

Chinese President Xi Jinping vowed to bring prosperity to Asia and create opportunities for the world as he and India’s Prime Minister Narendra Modi began talks Thursday to deepen cooperation through investment and trade.

Posted: September 18th, 2014 in Latest Business Stories | Read More »

Hyundai Motor to pay $9.6 billion for Gangnam land

AFP FILE PHOTO

A consortium led by Hyundai Motor Co. has offered 10 trillion won ($9.6 billion) for land in Seoul’s tony Gangnam district where it will build a new headquarters.

Posted: September 18th, 2014 in Latest Business Stories | Read More »

Asian stocks mostly down after Fed meeting

A money trader of a foreign exchange dealing company works under an electric screen indicating the U.S. dollar against the Japanese yen in Tokyo Thursday, Sept. 18, 2014. The U.S. dollar hit its highest level against yen in six years. AP

Asian stock markets mostly fell Thursday after the US Federal Reserve increased its estimate for the level of the central bank’s benchmark interest rate by the end of 2015, surprising investors who expected a slower pace of rate hikes.

Posted: September 18th, 2014 in Latest Business Stories | Read More »

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