Posts From King World News

Alibaba to launch Netflix-like video streaming service in two months

Alibaba Group Holding Ltd will launch an online video streaming service in China in about two months, hoping to emulate the U.S.’s Netflix Inc and HBO, the firm’s head of digital entertainment said on Sunday. The service will be called ‘TBO’, or Tmall Box Office, with content bought from China and other countries, as well as in-house productions, Alibaba’s Patrick Liu told reporters in Shanghai.

All ears tuned to Fed language, Greek debt talks

With the U.S. Federal Reserve expected to leave interest rates on hold this week, the market will be focusing on policymakers for clear signals on when the central bank will make its first interest rate hike in nearly a decade. World shares ended last week on a muted note as Greece’s situation took a turn for the worse when the International Monetary Fund’s delegation walked out of negotiations in Brussels

Greeks seek debt relief as EU steps up warnings

BRUSSELS/ATHENS (Reuters) – Greek negotiators were expected to press the country’s international creditors for debt relief on Sunday as Europe stepped up pressure on Athens to offer major concessions on austerity and reform or face dire consequences. Neither side doubts the urgency of reaching a deal as Greece must repay 1.6 billion euros ($1.8 billion) to the International Monetary Fund by the end of this month or default, putting its

Exclusive: China to extend economic diplomacy to EU infrastructure fund

China will pledge a multi-billion dollar investment in Europe’s new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters – Beijing’s latest round of chequebook diplomacy to win greater influence. While the exact amount is still to be decided, the pledge will mark the latest step in China’s efforts to shape global economic governance at the expense of the United States,