CHINA

More Trade, Still No Political Clout: An Expert's Take on the BRICS Summit

The BRICS nations met for a summit in New Delhi, where, among other subjects, they discussed the possible formation of a joint development bank, closer integration of their respective stock exchanges, energy security and ongoing tensions in the Middle East. But they still wield no power as a bloc, says an expert who has studied the BRICS phenomenon
A Best Buy store in Westminster, Colo.

Best Buy Closings: How Apple, Wal-Mart and Amazon Are Killing The Electronics Retail Giant

Best Buy has fallen on hard times in a sluggish economy, suffering a dismal drop in sales and an overall $1.2 billion loss over the last fiscal year. The electronics giant announced Thursday that it will close 50 stores and cut 400 jobs at its Richfield, Minn., corporate headquarters, hoping to save $800 million over the next three years in order to stay afloat.
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BHP iron ore chief quits amid expansion

BHP Billiton's veteran iron ore chief, Ian Ashby, is stepping down after 25 years with the world's biggest miner, it said on Friday, clearing the way for a new leader to complete the company's long-term $11 billion iron ore expansion.
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China's Alibaba tests social shopping with Pinterest clone

It is a marriage made in heaven for shopping addicts. Social shopping, the merger of social networking and e-commerce which has hooked millions of users in the United States, has now captured the attention of China's Internet giant.
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Apple, Foxconn to revamp China work conditions

Apple Inc and its China manufacturing partner, Foxconn, agreed to improve wages and working conditions at factories accused of being sweatshops, a move that could set a new higher-cost benchmark for other Western users of Chinese labor.
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Apple, Foxconn revamp China work conditions

In a landmark development for the way Western companies do business in China, Apple Inc said on Thursday it had agreed to work with partner Foxconn to tackle wage and working condition violations at the factories that produce its popular products.
Handout photo shows Apple CEO Cook talking to employees as he visits the iPhone production line at the new Foxconn Zhengzhou Technology Park in Henan

Apple Tim Cook China Visit Seen as Ending Foxconn Controversy?

Apple is facing increasingly more criticism regarding poor working conditions at its supplier Foxconn's Chinese factories. In an effort to improve working conditions, Apple CEO Tim Cook visited Foxconn Technology Group's new manufacturing facility for the iPhone in Zhengzhou, China.
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U.S. steps up its push to keep top World Bank role

The United States stepped up lobbying on Thursday for its pick to retain the top job at the World Bank as emerging markets pushed their view that the time has come for rich nations to share leadership of key institutions.
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Menswear Fuels Global Luxury Boom, Executives Say

Whether it's a desire to be as dapper as Don Draper on television's Mad Men, a need to look good for a job interview or just a hankering for new duds, men have increased their spending on fancy clothes, and executives expect the boom to continue.

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