World
Yahoo shuts China operations
 Internet giant Yahoo Inc. is withdrawing its remaining operations in China, laying off over 200 employees and shutting down its Beijing research centre, a media report said.
 
The company said it informed employees of the job cuts on Wednesday, The Wall Street Journal reported. 
 
The Beijing office, Yahoo’s only physical presence in mainland China, was mostly made up of engineers and functioned as a research and development centre. 
 
“We will be consolidating certain functions into fewer offices, including to our headquarters in Sunnyvale, California,” Yahoo said.
 
The layoffs are the latest in a series of cost-cutting measures by chief executive Marissa Mayer. 
 
Including the latest round, Yahoo has laid off nearly 900 employees since October 2014, mostly in offices outside the US.
 
The layoffs in China represent about two percent of Yahoo’s global staff of 12,500. 
 
Job cuts in recent months have also affected workers in Bengaluru, India, and the company’s Canadian offices.
 
Yahoo stopped offering services to users in China in 2013. That year, it told email users to transfer their accounts to Alimail, an email service offered by Yahoo’s close partner in the region, Alibaba Holding Group Ltd.
 
The Chinese address for its home page, Yahoo.cn, redirects visitors to its Singapore site.

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Former senior Chinese party official prosecuted for bribery
Former Communist Party of China (CPC) vice chief of southwest China's Sichuan province, Li Chuncheng, was prosecuted on Thursday for accepting bribes and abuse of power, the Supreme People's Procuratorate (SPP) said in a statement.
 
The SPP has concluded its investigation and transferred the case to Xianning People's Procuratorate in the central province of Hubei, state-run Xinhua news agency reported. Charges were filed with Xianning Intermediate People's Court on Thursday, according to the statement.
 
Prosecutors believe Li took advantage of his position to seek profit for others, accepted huge amounts of money and abused his power, resulting in substantial state losses.
 
Li was put under disciplinary investigation in October 2012 and the SPP started its investigation in April 2014.
 
Also in April 2014, he was removed from his public post and stripped of his membership of the CPC.
 

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Former top Chinese official indicted for corruption
Jiang Jiemin, former head of the state-owned Assets Supervision and Administration Commission, has been indicted on suspicion of corruption, the Supreme People's Procuratorate (SPP) announced on Thursday.
 
The SPP has completed its investigation into Jiang and transferred his case to the Hanjiang branch of the Hubei People's Procuratorate, state-run Xinhua news agency reported. 
 
The latter filed the charges with the Hanjiang Intermediate People's Court on Thursday, according to an SPP statement.
 
Prosecutors accuse Jiang of taking bribes, abuse of power and owning property that he could not possibly have afforded on his legitimate earnings. They believe he took advantage of his posts to seek profit for others, taking a huge amount in bribes, when he worked with the China National Petroleum Corporation and PetroChina Company Limited.
 
Jiang's actions caused major losses to state assets, the statement added.
 
It did not provide any details on how the prosecution would progress.
 
Jiang was placed under investigation and removed from public office in September 2013 and stripped of his membership of the Communist Party of China in June 2014. 

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