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Macy’s partners with Chinese online retailer

By AP News Thu, May 24, 2012 1:51PM UTC

NEW YORK (AP) — Macy’s Inc. said Wednesday that it acquired a stake in the operator of a Chinese online retailer, which will start selling some of the department store chain’s private label merchandise next spring. Macy’s said it had invested $15 million in VIPStore Co., which operates omei.com, a

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India: Rupee falls, petrol rises; will diesel follow?

By Sriram Vadlamani Thu, May 24, 2012 11:44AM UTC

The Indian rupee is now the worst performing Asian currency. It has slid more than 5% against the dollar this year and as per experts the slide will continue. Yesterday the rupee has touched 56 ($1 = Rs. 56), which is a first. Reasons being cited for the rupee’s fall

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Rocketing prices put tuna beyond ordinary Filipinos’ reach

By Edwin Espejo Tue, May 22, 2012 7:34AM UTC

With the price of a sashimi grade tuna at the General Santos City fishing port complex rising above Php420 (US$10) per kilo, more and more Filipinos are becoming strangers to the succulent and mouth-watering yellowfin tuna that their country is famous for. When these tunas eventually end up in posh Japanese

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Chinese company to buy USA’s AMC to become world’s largest cinema owner

By AP News Mon, May 21, 2012 5:40PM UTC

Patrons watch a 3D IMAX movie at a theater of Wanda cinema run by Dalian Wanda Group Co. in Beijing, China, Monday. Pic: AP.

BEIJING (AP) — A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China’s biggest takeover of an American company to date. Dalian Wanda Group Co.’s purchase reflects the global ambitions of a wave of cash-rich Chinese companies that are

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Yahoo to sell half of its Alibaba stake for $7.1bn

By AP News Mon, May 21, 2012 12:41PM UTC

HONG KONG (AP) — Yahoo Inc. has agreed to sell half of its 40 percent stake in Chinese e-commerce group Alibaba for about $7.1 billion, securing a financial lifeline for the struggling U.S. Internet company. The deal, announced Sunday in the U.S., will see Alibaba Group buying back the stake

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