Alibaba fosters local brands to fight fakes Criticized and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding has been quietly piloting a plan to try to curb fakes at source.
Asian stocks seen mixed on poor US lead Asian stocks appear set to kick off a brand new trading week with a mixed performance following a dismal finish on Wall Street last week.
| By: See Kit Tang
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
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
Automakers to reveal models covered by wider air bag recall DETROIT- Eleven automakers are expected next week to reveal which models are being added to a massive recall of air bags made by Takata Corp.. On Tuesday, the U.S. National Highway Traffic Safety Administration announced a deal with Takata to declare millions of its air bag inflators defective and expand the recall from 17 million to 33.8 million.
Source: The Associated Press
| By: By TOM KRISHER, AP Auto Writer
China's Hanergy undone in a few minutes of frantic trading HONG KONG, May 23- Not long after Hanergy Thin Film Power Group began its annual shareholder meeting at a plush Hong Kong hotel this week, the Chinese solar company's shares went into free fall. Once the meeting was under way, several massive sell orders involving millions of shares overwhelmed the market, according to an analysis of Thomson Reuters trade log data.
| By: Elzio Barreto and Saikat Chatterjee
Japan pledges climate change aid to Pacific island nations TOKYO- Japan pledged Saturday 55 billion yen in aid to Pacific island nations that are battling rising sea levels and natural calamities as a result of global warming. Prime Minister Shinzo Abe made the pledge at a two-day meeting with the island nations' leaders in Iwaki in northern Japan. Japan will also help with expert exchanges and training.
Source: The Associated Press
BlackBerry cuts jobs worldwide as it consolidates businesses May 22- Canadian smartphone maker BlackBerry Ltd is cutting jobs across the world, the company said on Friday, as it consolidates its software, hardware and applications business. The Waterloo, Ontario- based company last month said it was considering closing its offices in Sweden, a move that would result in the loss of up to 100 jobs. Up to Friday's close, the...