Apple's Tim Cook arrives in China for a charm offensive and other top stories.

• Apple's Tim Cook arrives in China for a charm offensive

  

  Although the visit had not been officially confirmed by Apple, Cook was expected to visit China to woo government officials after suffering a series of setbacks in its biggest overseas markets. Reuters broke the news of his impending visit on May 6. At its second-quarter results announcement in April, Apple revealed its first quarterly revenue drop in 13 years, on the back of a 26 percent year-on-year fall in smartphone sales in Greater China. In the same month, Chinese regulators apparent..

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• Oil prices jump as Goldman Sachs says market flips into deficit

  

  SINGAPORE Oil prices jumped over 1 percent on Monday after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit following global oil disruptions.Brent crude futures were trading at $48.47 per barrel at 0703 GMT, up 64 cents, or 1.3 percent, from their last settlement.U.S. crude futures were up 62 cents, or 1.3 percent, at $46.83 a barrel.Supply disruptions around the world of as much as 3.75 million barrels per day (bpd) have wiped out ..

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• Google to ban payday lending ads, calling industry 'harmful'

  

  NEW YORK | Internet giant Google says it will ban all ads from payday lenders, calling the industry "deceptive" and "harmful."Google's decision could have as much or even more impact on curtailing the industry than any move by politicians, as many payday loans start with a desperate person searching online for ways to make ends meet or cover an emergency.Effective July 13, Google will no longer allow ads for loans due within 60 days and will also ban ads for loans where the interest rate is 36 ..

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• Day After Selling City's Old Main Post Office, Bill Davies Dies

  

  CHICAGO (STMW) — British real estate mogul William “Bill” Davies died Friday, a day after closing a deal to sell Chicago’s historic old Main Post Office building. Davies, 82, had been ill for several weeks before the sale of the long-closed building that straddles Congress Parkway in the West Loop, according to Vicky Flores, who ran the Chicago office of Davies’ International Property Developers. Davies was hospitalized in Barbados more than a month ago after suffering “some sort of stroke,” Fl..

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• Alibaba Group Holding Ltd Picks Cloud Computing as New Champ

  

  Alibaba Group Holding Ltd (NYSE:BABA) and SoftBank Corporation announced yesterday that they will be working in a joint venture to provide cloud computing in Japan. Business Finance News believes this move will prove profitable for the company and provide further boost to Alibaba’s growing cloud computing division. Both the companies haven’t disclosed the numbers but SoftBank mentioned in its release that it will fund 60% of the deal. The new venture will be known as SB Cloud Corp. The entity w..

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