Vodafone confirms talks with Verizon over US stake sale

Vodafone has confirmed it is in talks with US company Verizon Communications over the sale of its 45% stake in their joint venture, Verizon Wireless.

China's Xiaomi poaches top Google exec

Chinese internet and smartphone company Xiaomi has poached Google executive Hugo Barra to help fulfill its ambition to become a global player.

Will Financial Regulation Trash Global Economic Security?

Alexander Mirtchev, Contributor

 Under the auspices of the Financial Stability Board, more than 30 recommendations have been set out as part of a massive and far-reaching G-20 financial regulatory reform package to ostensibly minimize risk in the financial system and maximize consumer protection.

Nissan plans to begin selling self-driving cars by 2020

IRVINE: Nissan Motor Co Ltd said it will be ready to bring fully self-driving vehicles to market by 2020.

Wal-Mart to cover benefits for domestic partners

Wal-Mart will offer health insurance benefits to same-sex couples and domestic partners starting in 2014.

Sinopec Beats PetroChina as Refining Profit Boosts Net

China Petroleum & Chemical Corp. (386), Asia’s biggest refiner, posted a 24 percent increase in first-half net income after its refining business returned to profit, outperforming PetroChina Co.

Microsoft eyes new course as Steve Ballmer sets retirement

Microsoft chief executive Steve Ballmer announced Friday he would retire within 12 months, opening a new chapter for a company struggling to keep pace with the fast-changing tech sector.

UPS cuts insurance to 15,000 spouses, blames Obamacare

United Parcel Service is planning to drop 15,000 workers' spouses from its health insurance plan, citing higher costs due to Obamacare.

Microsoft chief Steve Ballmer to retire within 12 months

Microsoft chief executive Steve Ballmer is to retire from the technology giant within the next 12 months.

Panasonic to expand its business in lithium-ion batteries

OSAKA: Panasonic Corp will expand its lithium-ion battery business, which last year added to a near-record net loss but is now contributing to a turnaround strategy targeting the auto sector, people familiar with the plans said on Wednesday.

Eastman Kodak gains approval to come out of bankruptcy

Eastman Kodak has gained court approval to come out of bankruptcy as a much smaller digital imaging company.

Nissan seeks to extend Sunderland car plant

LONDON: Japan's Nissan Motor Co has applied for permission to extend its factory at Sunderland in north-east England, already Britain's largest car making plant, where it plans to produce its premium brand Infiniti from 2015.

UK has lost '40%' of its banks and building societies

Communities across the UK have lost more than 40% of their bank and building society branches since 1989, according to a new report.

Suzuki Motor Corp recalls 365, 506 cars in China over oil leakage issue

SHANGHAI: The Chinese venture of Japanese automaker Suzuki Motor Corp will recall 365,506 vehicles in China over possible oil leakage problems, China's quality watchdog said on Friday.

Swiss bank UBS repays its bailout loan

Switzerland's central bank has said a loan it granted to bail out troubled bank UBS five years ago has been repaid.

Glencore Xstrata posts jump in first-half copper output

ZURICH: Switzerland-based mining giant Glencore Xstrata said on Wednesday its copper production in the first half of the year jumped by 20 percent, thanks to ramped-up projects in Peru, Africa and Australia.

Cisco to cut 4,000 jobs despite strong profits

Network equipment giant Cisco Systems has announced plans to cut 4,000 jobs, about 5% of its workforce.

Domino's Pizza takes 75% stake in Japan business

SYDNEY: Australia's Domino's Pizza Enterprises said on Tuesday it is expanding into Asia, taking a 75 per cent stake in the fast-food brand's Japanese business for 12 billion yen (US $123.4 million).

Blackberry forms committee to explore possible sale

Smartphone maker Blackberry is exploring options for its business, which could see the company sold off. Timothy Dattels, a Blackberry board member, will head a new committee that will consider different business models, including partnerships.

Nestle sees slowing sales growth in price-conscious Europe

Nestle, the world's biggest consumer food group, says sales and profits are being held back by weak demand in Europe.

Tesco in talks with China Resources Enterprise

China Resources Enterprise (CRE) is in talks with the UK retailer Tesco about merging their hypermarkets and supermarkets in China.

Samsung Group units to wholly-own Germany's Novaled AG

SEOUL: Samsung Electronics Co Ltd and affiliate Cheil Industries Inc will acquire a 90 percent stake in Germany's Novaled AG for 311 billion won ($279.42 million), Cheil said on Friday.

Toyota just keeps roaring back

General Motors (GM, Fortune 500), Ford (F, Fortune 500), and Chrysler have been gaining ground from competitors, posting solid profits, and winning historic praise for the quality and drivability of their products.

McDonald's ties nine out of 10 workers to zero-hours contracts

McDonald's has emerged as potentially the biggest zero-hours employer in the private sector after admitting that it employs 90% of its entire workforce in Britain, or 82,800 staff, on the controversial terms.

Revlon to buy hair dye maker Colomer for $660 million

NEW YORK: Revlon is buying Colomer Group, which sells hair dye and other products to beauty salons, for about $660 million, saying the deal will help it reach new salon customers and could cut costs.

BMW to recall over 143,000 vehicles in China

SHANGHAI: BMW's China joint venture will recall 143,215 vehicles due to a problem related to their electric power steering system, the country's quality watchdog said on Monday.

EasyGroup to launch budget supermarket in Britain

EasyGroup Chairman Stelios Haji-Ioannou said on Sunday he planned to open a low-cost food retail business in Britain, easyFoodstore, aimed at undercutting prices at German discount grocers Aldi and Lidl.

Dell battle nears end after $350m cash increase

Personal computer tycoon Michael Dell is nearing victory in his battle to take private the company he founded three decades ago, after increasing his cash offer by at least $350m (£229m).

Phone company ordered to pay Calif. $24.4M in fees

LOS ANGELES (AP) -- A phone company owned by the world's richest man, Mexican billionaire Carlos Slim, has been ordered by the state's public utility regulator to pay California $24.4 million in unpaid fees and interest.

Energy companies to be at September oil conference in Libya

TRIPOLI, Libya, Aug. 2 (UPI) -- Delegates from national and multinational energy companies will address Libyan oil production at a September energy forum in Tripoli, the event organizer said.

Facebook shares soar 40% in a week on mobile ad revenue increase

Wall Street likes Facebook again. Shares in the social network todayreturned to their flotation price briefly for the first time since its disastrous initial public offering last year.