Tag "3"

United Airlines' U.S. takeoffs halted on ‘automation issues'

United Airlines is resuming flights after a computer fault halted all U.S. departures for about two hours, disrupting travel for thousands of passengers in the second such setback since early June. The U.S. Federal Aviation Administration disclosed the end of the grounding in a statement Wednesday after saying “automation issues” had forced a temporary suspension of U.S. takeoffs.

China bans stock sales by major shareholders for six months

China’s securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, its latest effort to stop the nation’s $3.5 trillion stock-market rout. Investors with stakes exceeding 5 percent must maintain their positions, the China Securities Regulatory Commission said in a statement. While China has already ordered government-owned institutions to maintain or boost their stock holdings, the CSRC’s directive expands the ban on

Alibaba to invest over $100 million in China's Mei.com: source

Chinese e-commerce company Alibaba Group Holding Ltd is investing more than $100 million in Mei.com, a “flash sales” platform for luxury and fashion goods, according to a source with knowledge of the deal. Alibaba had said earlier on Wednesday it would form a team within its Tmall business-to-consumer platform to help Mei.com expand its user base, product offerings, logistics and IT infrastructure, but did not disclose the size of its