Alibaba group said to raise $21.8 billion in record U.S. IPO

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Alibaba group said to raise $21.8 billion in record U.S. IPO

(Bloomberg) – Alibaba Group Holding Ltd., the e-commerce company started in 1999 with $60,000 cobbled together by Jack Ma, cemented its status as a symbol of China’s economic emergence by raising $21.8 billion in a U.S. initial public offering. The company and shareholders including Yaho...

Updated : 2014.09.19 20:55

Apple to unveil new iPads, operating system on Oct. 21: report

A pedestrian carries a shopping bag as she passes a giant Apple Inc. logo outside a new Apple store on Princess Street in Edinburgh. (Bloomberg)Apple Inc. is set to launch two new iPads and release th...

Updated : 2014.09.18 21:20

Apple iOS 8 software bug affects health apps

NEW YORK (AP) ― A bug in Apple’s new iOS 8 software for mobile devices is prompting the company to withhold apps that use a highly touted feature for keeping track of fitness and health data.Apple says it hopes to have HealthKit apps restored to its app store by the end of the month. Aff...

Updated : 2014.09.18 21:19

India, China leaders to discuss trade, investment

NEW DELHI (AP) ― Chinese President Xi Jinping vowed to bring prosperity to Asia and create opportunities for the world as he and India’s Prime Minister Narendra Modi began talks Thursday to deepen c...

Updated : 2014.09.18 21:19

Asia’s billionaires see fastest wealth growth

SINGAPORE (AFP) ― Asia’s billionaires led by Chinese tycoons enjoyed the fastest increase in their wealth this year compared to their peers in the rest of the world, a report said Wednesday.The comb...

Updated : 2014.09.18 21:19

Fed keeps rates low, for now

WASHINGTON (AP) ― Record-low interest rates will be around for at least a few more months, the Federal Reserve made clear Wednesday.Enjoy the easy money while it lasts.By mid-2015, economists expect ...

Updated : 2014.09.18 21:18

Diamonds aren’t forever

HONG KONG (AFP) ― The De Beers diamond cartel warned Wednesday that global production will decline from 2020, a trend that could spell pricier bling for consumers.A dearth of major new diamond finds means that production might not keep up with ever-increasing demand from the United States...

Updated : 2014.09.18 21:18

UPS raises peak hiring 73%

NEW YORK (Bloomberg) ― United Parcel Service Inc. will boost seasonal hiring by as much as 73 percent from its peak plan in 2013, when a surge in late e-commerce orders left the company unable to meet holiday deadlines.The temporary workforce will number as many as 95,000 people to handle...

Updated : 2014.09.17 20:51

U.S. CEOs less optimistic about hiring, spending

WASHINGTON (AP) ― Optimism among chief executives at the largest U.S. companies fell in the July-September quarter after reaching a two-year high in the previous quarter. The Business Roundtable said Tuesday that its CEO outlook index fell to 86.4 in the third quarter, down from 95.4 in t...

Updated : 2014.09.17 20:50

Apple sees record orders for iPhones

SAN FRANCISCO (AFP) ― Apple on Monday said it had received record preorders for its new iPhone models, and that some customers will have to wait for the larger-screen versions of the smartphones.The ...

Updated : 2014.09.16 21:36

GM expert says 19 deaths eligible for compensation

General Motors’ headquarters in Detroit, Michigan. (Bloomberg)DETROIT (AP) ― The death toll tied to faulty ignition switches in General Motors small cars has risen to 19, according to a compensation...

Updated : 2014.09.16 21:18

Microsoft powers up game platform with ‘Minecraft’

NEW YORK (AFP) ― Microsoft agreed Monday to buy the Swedish group behind the hugely popular video game “Minecraft” for $2.5 billion, bolstering the increasingly important gaming division of the U.S...

Updated : 2014.09.16 21:18

Alibaba boosts IPO price

NEW YORK (AFP) ― Chinese online giant Alibaba on Monday boosted the price range for what was already expected to be the biggest stock offering on record, to as much as $25.03 billion.Documents filed ...

Updated : 2014.09.16 21:17

U.S. said to complain to China over antimonopoly crackdown

U.S. expressions of concern that China is selectively applying antimonopoly laws to discriminate against foreign companies escalated, with the Treasury chief sending a letter on the matter to his coun...

Updated : 2014.09.16 21:16

Ukraine outrage over delay on EU trade deal

KIEV (AFP) ― Ukrainian President Petro Poroshenko is facing a backlash from his staunchest supporters for bowing to Russian pressure and postponing the implementation of an EU trade deal the two side...

Updated : 2014.09.16 21:16