Oscar de la Renta, the legendary fashion designer who dressedfirst ladies and Hollywood stars during a career that spanned fivedecades, was remembered on Tuesday for his exquisite style,generous heart and tireless philanthropy. Tributes poured in for the tall, Dominican-born designer who diedlate on Monday at the age of 82, surrounded by family at hisConnecticut home after a battle with cancer.
Updated 6 Years ago

A joint venture between Chinese automakerChery and UK-based Jaguar Land Rover commencedproduction on Tuesday, churning out the first China-madeLand Rover vehicle. The launch of Chery Jaguar Land Rover Automotive Co Ltdin Changshu city in east China's Jiangsu province markedthe localization of the two UK brands Jaguar and LandRover.
Updated 6 Years ago

Rent increases in recent years have complicated largetenants'efforts to control costs andthey are increasinglyexploring investment opportunities in Beijing, a report frominternational real estate consultancy JLL showed onTuesday. Occupiers, including foreign corporations, have shown stronginterest in acquiring self-use space within Beijing's coreCBD expansion area, where a number of high profile high-rise projects are currently taking shape, according to the JLLreport.
Updated 6 Years ago

Austrian Vice Chancellor and Economy Minister Reinhold Mitterlehner said China and Austriaare to promote cooperation in renewable energy and environmental protection. The sides reached multi-billion euro deals at an economic forum in Beijing which celebrated the50-year partnership between the economic chambers of the countries.
Updated 6 Years ago

Gold prices edged higher on Tuesday on the back of physical demand and global economic growth concerns. The yellow metal gained US$5.75 to close at US$1,250.25/oz in London, its first move above US$1,250/oz in nearly six weeks.
Updated 6 Years ago

Mexico has created the bio-energy innovation center (Cemie-Bio) to bolster the research and development of bio-fuels as an alternative energy source. The center aims to unite the efforts of the academic and industrial sectors to foment the use of renewable energy in Mexico, according to the energy ministry (Sener).
Updated 6 Years ago

Peruvian precious metals miner Hochschild Mining reduced its outstanding debt, after redeeming all convertible bonds due 2014. Hochschild used its cash reserves to pay off in full the amount of US$115mn in 5.75% notes due October 20, 2014, the Lima-based company said in a statement.
Updated 6 Years ago

Every week it seems, another major U.S. retailer says it's been hacked. Today, Staples said it was investigating a potential credit-card breach. Two weeks earlier it was Kmart. Three weeks earlier it was Supervalu and Albertsons. A month ago it was Home Depot. The list is longer than the checkout line at Target, which was breached late last year. What may not be apparent amid the deluge of bad news is who's not on the list. While scores of household names have fallen victim to hackers, some pillars of U.S. retail have managed to stay out of the headlines. So far
Updated 6 Years ago

Traders are betting a recovery in technology stocks will fizzle on concern global economic growth fails to justify valuations. While the Nasdaq 100 Index climbed 2.8 percent in two days, after reaching a four-month low, the rebound followed six weeks in which investors pulled $8.26 billion from an exchange-traded fund tracking companies from Google Inc. to EBay Inc. Bearish options on the ETF cost the most in more than two years relative to bullish bets, data compiled by Bloomberg show.
Updated 6 Years ago

Japan’s three biggest banks may need to raise as much as about $100 billion of capital that can be written down in a crisis to meet proposed global rules for lenders deemed too big to fail. Mitsubishi UFJ Financial Group Inc. (8306), Sumitomo Mitsui Financial Group Inc. (8316)and Mizuho Financial Group Inc. (8411) face an aggregate shortfall of 3.2 trillion yen to 10.5 trillion yen ($30 billion to $98 billion) that they would need to plug by selling debt, according to estimates by analysts.
Updated 6 Years ago