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Alibaba spent $161 million fighting fakes since 2013

China's Alibaba Group Holding Ltd, the world's largest e-commerce company, spent over 1 billion yuan ($160.7 million) combating fake goods and for improving customer protection from the beginning of 2013 to the end of November, the firm said Tuesday.


Arab OPEC sources see oil back above $70 by end-2015

Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to ‎stabilize in the medium term.

U.S. airlines confront cheap oil's flip side: costly hedges

Some major U.S. airlines including Delta and Southwest are rushing to finance losing bets on oil and revamp fuel hedges as tumbling crude prices leave them with billions of dollars in losses, according to people familiar with the hedging schemes.

P&G to sell soap brands Camay and Zest to Unilever

Procter & Gamble Co said it would sell its soap brands Camay and Zest to Unilever Plc for an undisclosed amount to focus on its faster-growing brands.


Latest News

China's Xiaomi [XTC.UL] is raising over $1 billion from investors including Singapore sovereign wealth fund GIC that would value the smartphone maker at over $45 billion, a person familiar with the deal said.
Apple Inc has pushed out its first-ever automated security update to Macintosh computers to help defend against newly identified bugs that security researchers have warned could enable hackers to gain remote control of machines.
North Korea, at the center of a confrontation with the United States over the hacking of Sony Pictures, experienced a complete Internet outage for hours before links were restored on Tuesday, a U.S. company that monitors Internet infrastructure said.
U.S. stocks rose for a fourth straight session on Monday, with both the Dow and S&P 500 ending at records as large-cap technology shares gained and offset continued weakness in energy names.
Britain's accounting watchdog has launched an inquiry into the preparation, approval and audit of Tesco's accounts over the last four years, including the role of external auditor PwC [PWC.UL].
World share markets extended their 'Santa rally' into a fourth day on Monday, as a recovery in beaten-down oil prices and the ruble and more calls for quantitative easing from the ECB helped lift sentiment.
Uber Technologies Inc is under fire in Taiwan and the Chinese mainland mega city Chongqing over concerns that it and its drivers are not appropriately licensed, adding to a string of official complaints aimed at the fast-growing U.S. start-up.
Chief executives got their deal-making confidence back in 2014, emboldened by a clearer outlook for their businesses to take the global value for mergers and acquisitions (M&A) to their highest annual level since 2007.
China opposes all forms of cyberattacks and cyber "terrorism", the country's foreign minister told U.S. Secretary of State John Kerry on Sunday.Foreign Minister Wang Yi made the remarks in a telephone call with Kerry on Sunday night, according to a statement posted on the foreign ministry's website on Monday.
Malicious software likely linked to China was used to infect visitors to a wide range of official Afghan government websites, U.S. cybersecurity researchers say.
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