China's smartphone market has reached saturation, according to a new study by industry analyst IDC that carries potentially significant implications for the global handset industry led by giants like Apple Inc (AAPL.O) and Samsung Electronics Co Ltd (005930.KS).
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Volkswagen to break up MAN: Frankfurter Allgemeine Zeitung
Volkswagen (VOWG_p.DE) Group will break up MAN (MANG.DE) and transfer its truck and bus businesses, as well as MAN Latin America, into VW's new Truck & Bus Holding GmbH, German daily Frankfurter Allgemeine Zeitung said.
Picasso painting sells for $179.4 million, smashing art auction record
A Picasso oil painting from 1955 smashed the record for the most expensive artwork ever sold at auction when it soared to $179.4 million at Christie's on Monday.
Castleton joins oil trade titans with Morgan Stanley deal
Castleton Commodities International will buy Morgan Stanley's (MS.N) physical oil business, vaulting the Connecticut-based merchant into the big leagues of global crude and fuel traders.
Uber tests cash payments for cabs in India
Uber is testing cash payments in India as the online taxi-hailing company seeks a stronger foothold in a country where many fewer people have credit cards than internet connections.
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German Finance Minister Wolfgang Schaeuble and his Greek counterpart Yanis Varoufakis will meet in Brussels on Monday ahead of a Eurogroup meeting of euro zone finance ministers, a spokesman for the German finance ministry said.
China overtook the United States as the world's top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets.
Officials of the six-nation Gulf Cooperation Council agreed at the weekend to keep working toward the introduction of a value-added tax around the region, in a sign that low oil prices may be strengthening support for the idea.
Fiat Chrysler Chief Executive Sergio Marchionne said on Saturday that he had visited the heads of Tesla Motors Inc and Apple Inc during a recent trip to California.
When the Swiss central bank abandoned its cap on the franc back in January, corporate Switzerland warned of an economic "tsunami" that would hit exports, hammer jobs and plunge the Alpine nation into a deep recession.
Japan's economy was expected to post a second straight quarter of moderate growth in January-March, led by a pickup in exports and business investment, a Reuters poll found, pointing if realized to a steady recovery from recession after last year's sales tax hike.
It sounded so promising. Anyone, anywhere would be able to strap on a headset in their living room and be able to experience events anywhere in the world - or outside of it - as if they were really there.
China will increase its healthcare subsidies by 19 percent this year as part of efforts to deepen social reforms and strengthen safety nets, the government said on Saturday.
With optimism building that the United States is already recovering smartly from another horrible start to the year, focus will shift this week to reports that may show the euro zone is finally shaking off half a decade of torpor.
