China devalues yuan for third straight day taking fix to 4-year low
People's Bank of China's fresh devaluation by 1.1% raises fears of global currency war.
US market watchdog charges traders who made over $100m from stolen press releases
US SEC has charged traders who infiltrated servers of news agencies and stole more than 100,000 press releases.
Hong Kong police raid Uber offices and detain 3 employees
Uber is facing probe in Hong Kong over its drivers, who allegedly operate without proper licence and insurance.
Wells Fargo explores sale of US crop insurance business
US banks under pressure from regulators to strengthen balance sheets by reducing exposure to high-risk businesses.
Barclays and Credit Suisse face large US fines over alleged 'dark pool' malpractices
Banks are in talks with US regulators to settle claims of alleged unfair practices.
General Electric agrees to sell healthcare finance unit to Capital One for $9bn
Sale part of GE's move to divest $100bn worth of financial assets under GE Capital by end of 2015.
Alibaba invests $4.6bn to acquire 20% stake in electronics retailer Suning
In return, Suning would acquire a 1.1% stake in Alibaba as part of their strategic partnership agreement.
Shire seen having to raise offer price to get Baxalta to negotiating table
Baxalta's Ludwig Hantson reiterates proposal is 'wholly inadequate'.
Kraft and Heinz post lower sales in first post-merger earnings release
Sales at Heinz fell by 4.9% to $2.62bn in second quarter, while sales at Kraft fell by 4.1% to $4.52bn.
Food delivery apps pose stiff competition for KFC and McDonald's in China
App-based start-ups backed by internet firms such as Alibaba and Tencent aggregate local restaurants, deliver food and offer discounted dishes.
Japan to restart first nuclear reactor since Fukushima disaster
Kyushu Electric Power will open reactor at Sendai facility.
Apple supplier Foxconn to set up $5bn project in India
Foxconn will invest $5bn over next five years in new plant in Pune in Maharashtra.
Warren Buffett's Berkshire Hathaway nearing its biggest acquisition at about $30bn
Company close to signing agreement to buy Precision Castparts, which makes aircraft components and energy-production equipment.
BHP Billiton axes 380 mining jobs in South Australia
Company cites global challenges in resources sector among reasons for job cuts.
Dick Costolo may exit Twitter's board in possible shakeup
Current Twitter board consists of three former CEOs – Jack Dorsey, Ev Williams and Costolo – a rarity in corporate world.
China reports weaker trade figures in escalated worries for economy
China's exports in yuan terms declined 8.9% year over year in July, while imports fell 8.6%.
Warren Buffett's Berkshire Hathaway reports 37% decline in profit
Second-quarter results were impacted by lower investment gains and underwriting losses in insurance business.
Indian pension fund investing in equities for first time
The Employees Provident Fund Organisation (EPFO) will invest Rs 50bn in two exchange traded funds.
Saudi Arabia set to borrow heavily as low oil prices create budget deficits
Saudi used almost $62bn of its foreign currency reserves so far in 2015, and borrowed $4bn from local banks in July.
Citigroup's sale of OneMain Financial to be delayed on antitrust concerns
Springleaf Holdings, which is set to acquire unit, says deal would be delayed beyond third quarter.
Informatica taken private with Microsoft and Salesforce joining in as strategic investors
Informatica has been delisted from Nasdaq after it was taken private in a $5.3bn buyout.
William Ackman reveals $5.5bn stake in Cadbury owner Mondelez
Activist investor is expected to pressurise Mondelez board to boost earnings or sell itself.
Pfizer, Flynn Pharma accused of overpricing anti-epilepsy drug
UK's Competition and Markets Authority could fine the companies 10% of their global turnover, if found guilty.
Adidas acquires fitness app maker Runtastic for €220m
Runtastic will remain its own entity and continue to operate from its current offices.
Ryanair becomes first airline to fly 10 million monthly passengers
In July, airline's traffic increased 11% year over year to 10.14 million customers.
Hedge funds likely gained £10m by shorting RBS shares
George Osborne was criticised for allowing hedge funds to generate huge profits.
London City Airport up for sale at estimated £2bn
Global Infrastructure Partners is appointing advisers with target to complete sale of airport in 2015.
Uber is world's highest valued start-up at $50bn
Chinese smartphone maker Xiaomi is second-biggest at valuation of $46bn, followed by Airbnb at $25.5bn.
Foxconn plans major investment to set up plants in India
Company in talks with Indian firms Adani Enterprises, Micromax and Snapdeal to set up factories.
Robert Downey Jr named highest-paid actor at $80m
Jackie Chan is at number two, followed by Vin Diesel, Bradley Cooper and Adam Sandler.
