In China, P2P lenders offer some relief to small entrepreneurs SHANGHAI/ HONG KONG, May 25- When Chinese flight booking operator Baitour needed cash to grow its business last year, it opted against using Industrial and Commercial Bank of China, its long-term lender and the world's largest bank, turning instead to Internet finance startup Jimu Box. For Baitour, getting funds via Jimu Box, a peer-to-peer online platform that...
| By: Engen Tham and Deena YAO
Amazon changes tax practices in Europe as investigations continue - WSJ NEW YORK, May 24- Amazon.com Inc has started booking revenue from retail sales in individual European countries, instead of channeling all sales through low-tax Luxembourg, the Wall Street Journal reported Sunday. European Union antitrust regulators opened an investigation into Amazon's tax-minimizing arrangements with Luxembourg in October.
Alibaba's latest gambit in fighting fakes: foster local brands *Alibaba to expand scheme to toys, electronics, others. *Critics say Alibaba should focus on taking down fake listings. PUTIAN, China, May 25- Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source.
| By: John Ruwitch
RPT-Fall-off in Indian weddings bodes ill for jewellers, gold MUMBAI, May 24- Fewer auspicious days later this year compelled Ramesh Phalke, an auto company employee in India's Maharashtra state, to hold his daughter's wedding in May. Gold is an essential part of the bride's dowry in India and also a popular gift from family and guests at weddings. "Jewellery demand could drop by 30 percent in the second half due to fewer...
| By: Rajendra Jadhav
UPDATE 3-Polish president concedes election defeat to conservative challenger *Exit poll shows Andrzej Duda to be new president. WARSAW, May 24- Polish President Bronislaw Komorowski conceded defeat to conservative challenger Andrzej Duda in Sunday's presidential election, a result reflecting voters' frustration that Poland's new-found prosperity was not being more evenly shared. The result will send a stark message to the...
| By: Wiktor Szary and Agnieszka Barteczko
UPDATE 2-Poland awaits outcome of tight presidential election, exit poll delayed WARSAW, May 24- Poles voted for a president on Sunday in a run-off that is too close to call but has already sounded a warning for the ruling Civic Platform as it looks to re-election later in the year. Originally seen as a shoo-in for a second five-year term, incumbent Bronislaw Komorowski finds himself neck and neck with his conservative challenger, Andrzej Duda,...
| By: Wiktor Szary and Anna Wlodarczak
John Nash: A life of great struggle and even greater success TRENTON, N.J.- Born to an electrical engineer, and later a precocious and dashing young man who attained an Ivy League education, John Nash seemed destined for a life of stunning success. He planned to follow in his father's footsteps and studied for three years at the Carnegie Institute of Technology in Pittsburgh- now Carnegie Mellon University- but instead...
Source: The Associated Press
| By: By BRUCE SHIPKOWSKI, Associated Press
Protester leaves Shell ship north of Seattle; 1 remains SEATTLE- One of two protesters who affixed themselves to an Arctic oil-drilling support ship parked north of Seattle left the vessel Sunday, but the other remained suspended from its anchor chain in an effort to draw attention to climate change and the risks an oil spill could pose in the remote waters off northwestern Alaska. Protester Matt Fuller requested...
Source: The Associated Press
Iran set to overhaul fuel pricing and set a single rate -official DUBAI, May 24- Iran will abolish a motorists' allowance for heavily subsidized fuel and set a price, the deputy oil minister said on Sunday, as the government moves cautiously to cut back costly handouts. President Hassan Rouhani, elected in 2013 on a platform of better economic management, has championed efforts to rationalize pricing and pushed through a modest...