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Wal-Mart employs more people in China than every Chinese company combined employs in the US

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May 26, 2015

Iraqi forces set out to beat back ISIL.

  More than a week after the Islamic State captured Ramadi, capital of Anbar province, Iraq’s military and Shi’ite militias have launched a push to reclaim Anbar and neighboring Salaheddin. The Shi’ites say they are in charge of the campaign—a risky, and worrying, development in the primarily Sunni area.
7 hours ago

A recipe for a “healthier” Pizza Hut and Taco Bell.

  The two Yum Brands restaurant chains announced they would eliminate artificial coloring and flavors from their products. The decision comes as more fast food restaurants and processed food makers try to appeal to people looking to eat healthier.
May 26, 2015

Charter is buying a very expensive Time Warner Cable.

  Charter, the US’s fourth-largest cable company, has announced it is merging with TWC in a deal that values it at $79 billion, including debt, and creates the country’s second-biggest cable provider. Charter is paying around $195.71 per TWC share. Here’s why this deal is happening.
May 26, 2015

China’s military looks to the ocean.

  The People’s Liberation Army is shifting its focus to “open seas protection,” citing a growing number of neighboring countries with an “illegal presence” on China’s reefs and islands. The shift comes after Chinese media said this week war with the US is “inevitable” unless the US backs down on criticism of Chinese building in the South China Sea.
May 26, 2015

Amazon had a tiny German tax bill.

  The online retailer paid Germany $16 million in taxes while making $11.9 billion in sales in 2014, because it routed most of its revenue through Luxembourg. Under pressure from EU authorities, Amazon said last week it has now started reporting income on a country-by-country basis.  
May 26, 2015

India’s heatwave continues claiming lives.

  At least 800 people have died in the past few days in temperatures of up to 122°F (50°C). Andhra Pradesh is the worst-hit state, but the heat has engulfed large parts of the country, including New Delhi where the roads were melting. Meteorologists don’t predict a reprieve soon.
May 26, 2015
Chart of the Moment

PayPal is finally becoming a mobile payments company

May 26, 2015

The first of those accused of rigging Libor appears in court.

  Tom Hayes, a former trader at UBS and Citigroup, faces trial by jury in the UK. He is one of 21 individuals to be charged with manipulation of the interbank lending rate, which has cost banks and brokerages $9 billion in settlements so far.
May 26, 2015

Au revoir, long French holidays.

  State-owned Électricité de France is offering its workers a cash bonus if they agree to cut their annual leave from 50 to 36 days a year. The government has been trying to roll back France’s legally mandated 35-hour working week—though in fact, French workers are far from being Europe’s most coddled.

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