Dismayed by the millions of unsold homes in China's troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing. Like a white knight riding to the rescue of distressed developers, a handful of local governments are snapping up thousands of empty homes at hefty discounts and re-selling them to the country's poorest households.
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Apple Pay lands in UK this July; Boasts of a solid lineup of participating brands and bank partners
We've seen the teaser at the Worldwide Developers Conference (WWDC) a few weeks back and now Apple Pay is set to launch in the UK on July 14. Apple Pay has confirmed 22 local partners, including Marks and Spencer, Starbucks, Dune London, Waitrose, the Post Office, and Transport for London (TfL). The partnership with TfL is especially anticipated to provide utmost convenience as it covers the Tube and an array of bus, trains, and tram lines. It also works with over 20 apps, including British Airways, Hotels.com, Domino's, and Zara.
Chipmaker AMD cuts revenue estimate, citing weak PC sales
Chipmaker Advanced Micro Devices Inc lowered its revenue estimate for the second quarter, below analysts' average estimate, saying the demand for personal computers was weaker-than-expected.
Oil crashes 8 percent as Greek vote, Iran talks set off exodus
Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece's rejection of debt bailout terms and China's stock market woes set off a deepening spiral of losses.
New Honda CEO says no plans to help air bag firm Takata fund global recalls
Honda Motor Co's (7267.T) new chief executive said the Japanese automaker has no plans for now to provide financial aid to Takata Corp (7312.T), the air bag supplier at the center of a costly global safety recall that has dented Honda's public image as well as its earnings.
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Four great crises around Europe's fringes threaten to engulf the European Union, potentially setting the ambitious post-war unification project back by decades.
Bundesbank chief Jens Weidmann has warned Angela Merkel's cabinet that a Greek exit from the euro zone would rip billions of euros out of the German budget, German business daily Handelsblatt reported on Sunday, citing government sources.
Factory worker Satomi Iwata has new co-workers, a troupe of humanoid automata that are helping to address two of Japan's most pressing concerns - a shortage of labor and a need for growth.
Japan said on Saturday it would extend around $6 billion in development aid to Mekong region countries, as China prepares to launch a new institutional lender seen as encroaching on the regional clout of Tokyo and ally Washington.
China's response to wild swings in its stock markets risks an embarrassing setback to the country's push to internationalize its financial system, according to investors.
Oil prices dropped on Friday as a rising U.S. rig count stoked more concerns about global oversupply while an investigation by Chinese regulators into suspected stock market manipulation further unsettled the market.
JetBlue Airways Corp said it began direct charter flights between New York and Havana on Friday, the first major U.S. carrier to fly the route following U.S. President Barack Obama's decision in December to normalize relations with the Communist-ruled island.
Russian President Vladimir Putin must be finding it hard to contain a wry smile as the European Union struggles with Greece's debt problems.
India's dominant services industry contracted for a second month in June as new business again declined, suggesting Asia's third-largest economy is struggling to maintain growth, a survey showed on Friday.
