South Korea has indicted the chief executive officer and local subsidiary of Uber Technologies Inc for violating a law governing public transport, becoming the latest jurisdiction to challenge the U.S. taxi service provider.
Regions
Bosnia's Bobar bank shut, big depositors face losses
Bosnian lender Bobar Banka has been shut after its shareholders failed to come up with a recovery plan, the regional banking agency said, leaving its clients, including major state firms, at risk of losing some of their 250 million Bosnian marka ($156 million) in deposits.
Tizen TV no substitute for Samsung's long-awaited answer to Android
Global smartphone leader Samsung Electronics Co Ltd is planning a new product launch next year based on its own Tizen operating system, the South Korean giant's strategic push to free itself from Android and blaze its own software path.
Ukraine's parliament backs import tax rises amid budget crisis
Ukraine's parliament gave preliminary approval on Thursday to a law that would simplify tax legislation and impose additional duties on imports, in an effort to raise revenue amid economic crisis.
China offers fresh support for outbound investment
China will simplify currency rules and step up credit support for firms investing overseas, the cabinet said on Wednesday. It was the government's latest move to encourage use of excess factory capacity at home and help local firms grow globally.
Latest News
Russia's rouble strengthened on Thursday as exporters sold foreign currency in response to government pressure and to meet tax payments, but trading volumes were thin as many Western markets were closed for the Christmas Day holidays.
China's economy is creating more than 13 million new jobs this year, the Xinhua news agency cited the labor ministry as saying on Thursday, outstripping the official target despite slower economic growth.
Fuji Heavy Industries (7270.T), the maker of Subaru brand cars and SUVs, has scrapped a plan to shift production of the new XV Crosstrek to its U.S. plant and will instead make the SUV in Japan, a source familiar with the company's production plans said.
A fund managed by JPMorgan Chase (JPM.N) is in advanced talks to partner with Indian carrier SpiceJet Ltd's (SPJT.BO) co-founder for a planned $200 million investment into the cash-strapped airline, the Economic Times reported on Thursday, citing unnamed sources with knowledge of the discussions.
Google Inc's decision to screen Sony Pictures' film "The Interview" may help legitimize its YouTube platform as a serious rival to paid video streaming services, Netflix and Amazon.com Inc.
The head of Sears Holdings Corp's online operations and a key member of Chief Executive Eddie Lampert's management team has resigned and will leave the company in February to pursue a new opportunity, the retailer said.
The European Central Bank has told Austria's Volksbanken group to strengthen its balance sheet by next July as it rushes to wind down its flagship unit and plug a capital hole exposed by this year's health checks on euro zone banks.
Chinese investment banks have awarded pay rises to their staff for the first time since the 2008 global financial crisis, buoyed by a surge in China-related deals, but salaries and bonuses still trail far behind those paid by Western banks.
Italy's government on Wednesday began drawing up the details of a reform that Prime Minister Matteo Renzi said will "revolutionize" the country's labor market when it takes effect some time next year.
