China to Ease Limits on Overseas Investments
Beijing is set to announce changes that will allow individuals
and businesses to directly purchase stocks, bonds and real estate
in foreign markets-part of a long-stated goal of making the yuan a
global currency.
China's Ctrip Outage Due to Staff Error, Not Hack
Agence France-Presse/Getty Images
Ctrip.com International on Friday blamed staff error rather than
a hack for an outage on Thursday.
Daum Kakao to Buy Path's Social Media Services
The purchase marks Daum Kakao's boldest move to expand beyond a
home market where it dominates.
NTSB Blames Shell for Alaska Ship Accident
Federal investigators have blamed Royal Dutch Shell Plc and its
contractors for the December 2012 shipwreck of a drill ship off the
coast of Alaska.
Moody's Upgrades Four Top U.S. Banks
Moody's Investors Service said that it was upgrading the ratings
of four of the largest U.S. banks after the company determined that
some creditors would suffer fewer losses if those banks were to
fail.
J.P. Morgan Aims to Cut 5,000 Jobs
J.P. Morgan has begun layoffs that are expected to total more
than 5,000 by next year, eliminating at least 2% of the bank's
workforce.
Judge Presses Both Sides in Battle Over Sysco Merger
A federal judge heard lively closing arguments Thursday in the
FTC's challenge to the planned merger of rival food distributors
Sysco and US Foods, pressing both sides on potential weaknesses in
their positions.
Amazon to Add Its Own Line of Food
Amazon.com is preparing to broadly expand its fledgling lineup
of private-label brands to include grocery items such as milk,
cereal, and baby food, as well as household cleaners.
U.S. Bancorp CEO Warns of Job Cuts If Rates Don't Rise
U.S. Bancorp's chairman and chief executive said the bank may
have to cut jobs if interest rates don't rise as expected, a move
the lender has resisted so far.
Merck Files New Drug Application for Hepatitis Combination
Merck & Co. has submitted a New Drug Application to the U.S.
Food and Drug Administration for an experimental drug combination
for treating certain chronic hepatitis C patients.
Canadian Banks Display Surprising Strength
Canada's big banks defied expectations of a hit to earnings from
lower oil prices