Alibaba to buy minority stake in Focus Media to tap digital marketing
Chinese e-commerce giant Alibaba Group Holding Ltd on Wednesday said it has agreed to acquire a minority stake in China’s Focus Media Information Technology Co Ltd to tap into the digital marketing sector.
EU’s Juncker ‘upbeat and relaxed’ ahead of Trump trade meeting
European Commission President Jean-Claude Juncker said he was “upbeat and relaxed” ahead of his trip to Washington next week to discuss strained trade relations between the European Union and the United States.
Wall Street at five-month highs, Amazon hits $900 billion market cap
The S&P 500 hovered at five-month highs on Wednesday, with gains in financial and industrial stocks due to strong earnings from marquee companies offsetting losses in the technology and energy sectors.
UBS appoints new head of Luxembourg wealth management unit
Swiss bank UBS will swap out leadership at its Luxembourg wealth management (WM) unit in October amid changes in the region, including the Swiss bank’s move in January to acquire Nordea’s private banking business there.
White House’s Kudlow blames China’s Xi for blocking U.S. trade deal
U.S. President Donald Trump’s top economic adviser said on Wednesday that Chinese President Xi Jinping was holding up a deal to resolve a significant trade dispute between the United States and China.
Google, hit with record $5 billion EU antitrust fine, to appeal
EU antitrust regulators hit Google with a record 4.34 billion euro ($5 billion) fine on Wednesday and ordered it to stop using its Android mobile operating system to block rivals, a ruling which the U.S. tech company said it would appeal.
Greece prepares to fly solo on bond markets
Once the outcast of European bond markets, Greece appears firmly on the road to redemption.
Amazon sells more than 100 million products on Prime Day event
Amazon.com Inc said online shoppers purchased more than 100 million products worldwide during its Prime Day sale, despite glitches on its mobile app and websites that prevented customers from placing orders.
Wall Street opens higher led by industrial, financial stocks
U.S. stocks opened higher on Wednesday, led by gains in industrials after robust quarterly profit from United Airlines and CSX Corp and as Morgan Stanley’s strong results lifted financial stocks.
U.S. housing starts hit nine-month low; permits fall
U.S. homebuilding fell to a nine-month low in June and permits declined for a third straight month, dealing a blow to the housing market as it struggles with a dearth of properties available for sale.
