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China retail sales surge in August

BEIJING: Chinese retail sales jumped last month, data showed on Friday, beating expectations and fueling hopes that the country’s army of consumers are returning to help kick-start the world’s No. 2 economy after an extended period of weakness. The data, which also revealed a better-than-expected lift in industrial output, is …

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Chip designer Arm’s shares soar 20%

NEW YORK CITY: British chip designer Arm saw its share price jump 20 percent on the first day of trading on the Nasdaq stock exchange in New York on Thursday. Arm, whose semiconductor design is used in most smartphones worldwide, announced earlier this week that it was targeting a valuation …

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Autoworkers at 3 major factories begin strike

The United Auto Workers union said on Thursday evening that workers at three factories are set to walk off the job at midnight, setting up the most ambitious U.S. industrial labour action in decades. Union deploying first simultaneous strikes against all three major automakers in 80 years. The United Auto …

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