By Gerry Shih BEIJING (Reuters) – China’s Lenovo Group Ltd will lay off 10 percent of white-collar staff after sales of Motorola handsets fell by a third, raising doubts over the personal computer giant’s bet that a money-losing brand it bought for nearly $3 billion will help it become a global smartphone leader. Lenovo, which uses the U.S. dollar in operations rather than the recently devalued Chinese yuan, said it
When it comes to political bragging rights about job creation, a CNBC analysis of state level jobs data shows a slight advantage for this party.
Tesla Motors Inc CEO Elon Musk will invest $20 million as part of the company’s $500 million stock offering in a show of confidence at a time when the electric car maker is burning through cash. Tesla …
A Harvard University student says he lost his internship at Facebook after he launched a browser application that exploited privacy flaws on its mobile messenger. Aran Khanna’s app showed that users of …
Coca-Cola said Thursday it named company veteran James Quincey as president and chief operating officer, creating a new No. 2 position in its chain of command. The world’s largest beverage company says …
Analysts have cut their price targets for Alibaba Group Holding Ltd shares after the stock fell to a post-flotation low on Wednesday on weak earnings and concerns over China’s economy. Alibaba’s shares are now at $73.38, hovering just above their initial public offering price of $68. The average target price fell from $106.82 on Tuesday to $99.09 on Thursday, according to a Thomson Reuters survey of 46 analysts.
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The $60 billion of oil-industry spending cuts this year won’t be enough as crude languishes near a six-year low. The world’s biggest producers will need to trim investments by a further $26 billion to meet sacrosanct dividend payments.
China tried Thursday to ease fears of more big declines for the yuan as companies from global automakers to Chinese clothing exporters faced a new era of uncertain exchange rates. There is “no basis …
Americans bought more cars, restaurant meals and building supplies in July, as the spending points to steady economic growth anchored by the improving job market. The Commerce Department said Thursday …
