Bloomberg Baidu Inc. sold control of its unprofitable food delivery business to a startup backed by Alibaba Group Holding Ltd. as the search engine cuts back on cash-burning ventures to focus on artificial intelligence Baidu will become a shareholder in Ele.me after the Alibaba-backed firm completes its purchase of the Waimai business, the companies said. No price was released and ...

Bloomberg HTC Corp., the beleaguered manufacturer that once ranked among the world’s top smartphone makers, is exploring options that could range from separating its virtual-reality business to a full sale of the company, according to people familiar with the matter. The Taiwanese firm is working with an adviser as it considers bringing in a strategic investor, selling its Vive virtual ...

Bloomberg Chinese industrial firms maintained a profit surge, underscoring the economy’s resilience even amid slowing factory output and investment. Industrial profits increased 16.5 percent in July from a year earlier, versus the 19.1 percent pace a month earlier, the nation’s statistics bureau said on Sunday. The robust earnings are giving policy makers room to combat excessive industrial capacity and curb ...