china

Luxury brands suing Alibaba say mediation looks futile after Ma comments

SHANGHAI/NEW YORK (Reuters) – Luxury brands suing Chinese e-commerce behemoth Alibaba Group Holding Ltd have asked a U.S. judge to be relieved of the obligation to mediate, which they say looks futile after Alibaba founder Jack Ma was quoted in a magazine as saying he would rather lose the case than settle. Gucci, Yves Saint Laurent and other brands…

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Luxury brands suing Alibaba say mediation looks futile after Ma comments

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Italy court says no proof of wrongdoing in UniCredit mafia probe

An Italian court said on Saturday there was no proof to back up allegations that three executives at Italian lender UniCredit had helped a businessman who prosecutors claimed had links to the Sicilian mafia, according to a court document. Fabrizio Palenzona, Unicredit…

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Italy court says no proof of wrongdoing in UniCredit mafia probe

china

ECB reveals capital hole in Greek banks as unpaid loans soar

By John O'Donnell and Francesco Canepa FRANKFURT (Reuters) – Greece's banks need to raise more than 14 billion euros (10 billion pounds) of extra capital to cover mounting unpaid loans, the European Central Bank said on Saturday as it announced …

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ECB reveals capital hole in Greek banks as unpaid loans soar

china

China’s October factory, services surveys show economy still wobbly

Activity in China's manufacturing sector unexpectedly contracted in October for a third straight month, an official survey showed on Sunday, fuelling fears the economy may still be losing momentum in the fourth quarter despite a raft of stimulus measures. Adding to those concerns, China's services sector, which has been one of the few bright spots in the economy, also showed signs of cooling last month, expanding at its slowest pace in nearly seven years. As the first major indicators …

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China’s October factory, services surveys show economy still wobbly

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