Li, 89, will retire after the annual general meeting on May 10, the ports-to-telecoms conglomerate and his eldest son Victor Li will take over the reigns of his business empire.
Millions of dollars due in payments to the suppliers are at risk as the iconic toy maker speeds toward US liquidation. The retailer's difficult financial position has also put more than 3000 jobs at risk in the UK.
Istanbul's taxi drivers have been accused of attacking Uber drivers as frustration rises over the growing popularity of ride-hailing platform.
The closure of Toys "R" Us after 70 years of dominating the US market leaves a void for toy lovers and makers alike.
US President Donald Trump has recently reintroduced restrictions for Americans travelling to Cuba. The move hits Cuba's already shrinking state-run economy.
Under the new policy, the company will ban advertisements for unregulated or speculative financial products like binary options, cryptocurrencies and digital financial spread betting among others.
Court filings made public this week reveal that women working at the company in US-based technical jobs filed 238 internal complaints about gender discrimination or sexual harassment between 2010 and 2016.
Credit rating agency will most likely be established by Turkey's lenders, says Mehmet Ali Akben, head of the banking watchdog.
Chinese Commerce Minister Zhong Shan says any trade war with the United States will only bring disaster to the world economy.
A meeting with US President Donald Trump's trade envoy appeared to yield no immediate results for the EU and Japan in the ongoing debate over steal and aluminium tariffs.
The two nations also signed a key security accord for the Indian Ocean to counter China's growing influence in the region during French president Emmanuel Macron's visit to New Delhi.
Manufacturers have presented their latest offerings and concept vehicles at the 88th Geneva International Motor Show in Geneva, Switzerland. Ferrari, MacLaren, Lamborghini, Corbelatti and electric cars are gaining the most attention at the show.
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