Fidelity International opened its first fund for wealthy investors in mainland China. This is a key event for foreign fund managers who want to expand their presence in the complex Chinese market, reports Reuters. Fidelity International’s first private fund in China, which primarily invests in the...

One of the leaders in the European frozen food market, German company Frosta, is buying Nestle’s Italian business for the production of frozen food. The business includes such brands as La Valle degli Orti, Mare Fresco and Surgela. The cost of the deal has not yet been disclosed. The agreement is...

With the aim of grabbing a bigger share of the fast-growing mid-tier millionaire segment in Asia-Pacific, UBS Group AG plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in the region.   While some global banks including...

JPMorgan Chase & Co. plans to transfer hundreds of London bankers to expanded offices in Dublin, Frankfurt and Luxembourg. The bank prepares for a possibility that the United Kingdom might lose access to the single EU market after Brexit, Bloomberg reports. "We are going to use the three banks...

In an indication that customers may have held back purchases in anticipation of the 10th-anniversary edition of the company's most important product later this year, Apple Inc reported a surprise fall in iPhone sales for its second quarter on Tuesday.   Apple boosted its capital return...

After a passenger was hauled down the aisle of a flight last month, legislation aimed at improving customer service was threatened to be passed by U.S. lawmakers against United Airlines and other carriers on Tuesday.   Top airline executives promised to address customer service failures at...

Shares of Facebook and Apple “hit record highs” this week. Facebook and Apple, both own an “outsized share of U.S. technology revenue”. At a time, when investors are looking for “evidence” for justifying the current year’s “stock market rally” of the U.S., the duo could expand their revenue in the...

Four new technology and innovation hubs across the U.S. that will train American workers in areas like cloud, artificial intelligence and big data is being opened up by Infosys, India's iconic outsourcing firm. Creating about 2,000 U.S. jobs by 2021 alone the first hub will launch in August 2017...

Management of the largest Italian airline Alitalia decided to commence the bankruptcy procedure for the company, after the airline employees refused to approve the restructuring plan. President and CEO of Etihad Airways (owns 49% of Alitalia) James Hogan expressed "deep disappointment" with the...