Foxconn Technology Group, the world’s largest custom manufacturer of electronics, resumed hiring at a Chinese factory as it prepares to make a new Apple Inc. iPhone, said a person familiar with the plans. Workers have been recruited at Foxconn’s plant in Zhengzhou, eastern China, for the past month, ending a hiring freeze imposed in February, said the person, who asked not to be named because the plans haven’t been made public. The extra workers will assemble the new device as well as existing m

Gold had its biggest one-day drop since 1983 on Monday as a selling frenzy that began last week picked up speed.The price of gold plunged $140.30 to $1,361.10 an ounce, a decline of 9 percent. The metal has dropped $200 an ounce, or nearly 13 percent, in the last two trading days. It's the lowest price since February 2011.The sell-off started Friday when the government reported a drop in inflation. Investors often buy gold when they're fearful of rising prices and sell it when they see inflation

Google Inc.’s offer to settle an antitrust probe with the European Union by labeling its own services more clearly in Web search results is a “non-starter” for competitors such as Microsoft Corp. Microsoft, French legal search engine Foundem and at least 10 other companies that filed complaints against Google with the EU will be able to give feedback on the remedies submitted by the Mountain View, California-based company to settle the almost three-year-old investigation. Google, operator of the

Korea’s Couronne is helping change perceptions of made-in-Asia luxury with its colorful, logo-light designs

ATHENS (AFP) ― Greece and its troika of international creditors have reached agreement on its economic recovery efforts, opening the way for the disbursement of 8.8 billion euros ($11.5 billion) in bailout loans, officials said Monday.The talks under way since March “have wrapped up, we have an agreement,” said Finance Minister Yannis Stournaras at a conference organized by The Economist.“We are waiting for the unblocking of loans” worth 8.8 billion euros which were suspended by the troika of th

Nissan Motor Co., with U.S. sales lagging the industry’s rebound this year, said it hired a former Chrysler Group LLC executive to run its namesake brand in the country after the departure of a long-time sales official. Fred Diaz, 47, formerly president and chief executive officer of Auburn Hills, Michigan-based Chrysler’s Ram brand and Mexican unit, will be vice president of U.S. sales and marketing for the Nissan brand, according to an e-mailed statement Friday. Diaz, who spent 24 years at Chr

WASHINGTON (AFP) ― Countries will face risks of financial instability if central banks do not manage well the winding down of their easy-money monetary policies, the IMF said Thursday.Risks do not necessarily come from the extremely low interest rates and high liquidity measures many major central banks have taken since the 2008 financial crisis, the International Monetary Fund said in its newest Global Financial Stability Report.The challenge is more in managing the resumption of conventional m