A fire at a shoe factory in eastern China on Tuesday killed at least 16 people, state media reported. The blaze broke out at the Dadong factory in the city of Wenling in Zhejiang province, state broadcaster CCTV said. Firefighters put it out about three hours later and rescued more than 20 people, it said.
The Federal Cartel Office said Monday that the companies involved fixed price increases for draft and bottled beer between 2006 and 2008. Five firms were fined — Bitburger, Krombacher, Veltins, Warsteiner and Barre — along with seven people deemed to be "personally responsible."
After tallying a record number of airplane orders and deliveries last year, Airbus is admittedly facing a high bar in 2014. The European aerospace conglomerate said Monday it delivered 626 planes last year, a company record but still 22 fewer than U.S. rival Boeing Co.
China's biggest drug distributor says two former executives are the target of a corruption investigation, widening a graft probe that has focused on foreign pharmaceutical makers. A former vice president of state-owned Sinopharm Group Ltd., Shi Jinming, was detained last week by Shanghai prosecutors for "an investigation in relation to an allegation of corruption against him," a company statement said.
China's export growth slowed in December while imports accelerated, possibly helping to temper fears of a slowdown in the world's second-largest economy. Exports rose 4.3 percent to $207.7 billion, slowing from November's 12.7 percent expansion, trade data showed Friday.
The $13 billion Odisha steel plant would be the largest-ever foreign investment in India. The country has been embroiled in fierce debates over how to protect its environment while lifting hundreds of millions of people out of poverty through investment and infrastructure development.
Overseas Marlboro maker Philip Morris International Inc. says it's investing up to 500 million euros (about $680 million) for a manufacturing facility and pilot plant in Italy to make new tobacco products.The company said Friday the facilities near Bologna will produce its so-called "reduced-risk" tobacco products.
German luxury car makers Mercedes-Benz and Audi enjoyed record sales last year, boosted by rising demand in the United States and China. Mercedes-Benz, which is based in Stuttgart and owned by Daimler AG, said Friday that it sold 1.462 million cars last year worldwide, an increase of 10.7 percent.
A November pipeline explosion in northern China that killed 62 people was caused by sparks from a jackhammer igniting oil that had leaked into the sewage system, revealing major vulnerabilities in China's aging pipeline network, government safety officials said Thursday.
The chiefs of Samsung Electronics Co. and Apple Inc. will meet to discuss settling a bitter two year legal battle over designs and technologies of smartphones and tablets. A filing with the U.S. District court in San Jose showed Thursday that senior legal executives from Apple and Samsung agreed earlier this week that the CEOs will meet by or before Feb. 19.
A subsidiary of Alcoa Inc. has pleaded guilty and the company will pay $384 million for paying bribes to the Middle Eastern Kingdom of Bahrain through a London-based middleman. The corporate secretary for Alcoa World Alumina LLC pleaded guilty on behalf of the company on Thursday in federal court in Pittsburgh.
The French drug safety agency has approved commercial sales of a medicine derived from cannabis for the first time in France. France's Health Ministry said in a statement Wednesday that sales of Sativex, produced by Britain's GW Pharmaceuticals, will be allowed for the treatment of muscle spasms associated with multiple sclerosis.
An explosion at a chemical factory in central Japan on Thursday killed at least five workers and injured 17 others, authorities said. Investigators suspect chemical reaction involving hydrogen caused the blast at metal and chemical company Mitsubishi Materials Corp.'s Yokkaichi plant, about 350 kilometers (220 miles) west of Tokyo.
Motorbikes and containers housing security guards were set alight, sending thick smoke over the complex. Footage showed people throwing rocks at police in riot gear who huddled together. Local official Duong Ngoc Long said police restored order after three hours. Four people were injured, he said.
Japan Ford President Toshio Morita, unveiling the 2.29 million yen ($22,900) model Thursday, declined comment on trade barrier and currency manipulation allegations being voiced by Ford Motor Co. headquarters in Dearborn, Michigan, and other U.S. automakers.
Goodyear Dunlop Tires France — a subsidiary of Goodyear Tire and Rubber Co. of Akron, Ohio — said in a statement the lawsuit was filed Wednesday with the prosecutor in Amiens, France, because it can't accept "actions that endanger people and goods."
The European Union says it is beefing up its carbon trading system to make it more expensive for utilities and other businesses to burn fossil fuels. EU officials on Wednesday voted for a proposal that ended a year of bickering over how to amend what is Europe's prime tool in the fight against climate change.
Chrysler has technically been “foreign-owned” since July 2011, but the recent deal makes it all the more real: might be an American-headquartered company, but it’s also a fully-owned subsidiary of an Italian company. That’s an important distinction, one that means Chrysler simply isn’t in the same playing field as Ford and GM, no matter each of their origins.
Czech state-owned brewery Budejovicky Budvar, which has been fighting a long legal battle with U.S. beer giant Anheuser-Busch over the use of the "Budweiser" brand, says its overall output and exports reached record highs in 2013. Budejovicky Budvar NP says exports rose by 16.1 percent to reach 20.15 million gallons of beer, the best result in 118 years.
Some large manufacturers that use natural gas say the department is moving too quickly to approve gas exports, pushing the United States into a "danger zone" that could raise prices and harm the economy. Environmental groups worry that tentative approval of several large export projects may accelerate a fracking boom they say could harm public health and the environment.
The World Trade Organization says the dispute is the first to be initiated by Russia since it became a full member of the Geneva-based WTO in August 2012. In a statement Monday, the WTO said Russia is seeking consultations with the EU over its anti-dumping duties on Russian steel products and ammonium nitrate, which is mainly used in fertilizer.
The industrial park is anchored by a South Korean textile firm and is the U.S. government's biggest investment in Haiti since a 2010 earthquake destroyed thousands of homes and displaced 1.5 million people. The U.S. has invested more than $124 million in the project, which has been championed by former U.S. President Bill Clinton and his wife, former Secretary of State Hillary Rodham Clinton.
The fund, estimated at $40 million, would compensate injured workers and dependents of those of who died, according to a statement by the organizers of the fund. Spanish retailer El Corte Ingles, UK's Bonmarche, Canada's Loblaw and the Dublin-based Primark have pledged to contribute to the fund.
The iPhone, while popular around the world, has faced tough competition in recent years from cheaper smartphones running Google's Android software. Collectively, Android phones far outsell Apple's iPhone. Analysts speculate that Apple could sell another 10 million to 40 million more phones if it reached a deal with China Mobile.
Over the past decade, I’ve watched as globalization, competition and digitalization have forever changed the business landscape. Throw in the fact that current, and potential, customers now have higher expectations, and more buying power, than ever before and you have very little room left for error when it comes to supply chain planning, process management and execution.