Bloomberg Alibaba Group Holding Ltd. has agreed to buy the shares of food delivery startup Ele.me it doesn’t already own to boost its last mile delivery network, a person familiar with the matter said. The e-commerce giant, which owned 23 percent of Ele.me as of May, plans to buy the stock from investors including Baidu Inc., the person said, requesting ...

Bloomberg The car industry is witnessing one of its biggest disruptions since Karl Benz assembled the first automobile more than a century ago, and Li Shufu wants to play an active part in the revolution. The founder and chairman of Zhejiang Geely Holding Group Co. has become the top shareholder in Daimler AG, the German company that traces its roots ...

Bloomberg Go East, expatriates looking to make the big bucks. Mumbai, India’s financial, commercial and entertainment capital, tops global rankings for expat salaries, according to a survey conducted by HSBC Bank International Ltd. Foreigners moving to the subcontinent’s most populous city reported average annual earnings of $217,165. That’s more than double the global expat average of $99,903, the HSBC Expat ...