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.
The US president will inspect prototypes for his proposed Mexican border wall in San Diego and attend a fund-raiser in Beverly Hills during his first visit to California after taking office.
The US president says he is replacing Secretary of State Rex Tillerson with CIA Director Mike Pompeo, and has tapped Gina Haspel to head the intelligence agency, the first woman to head the US spy service.
"This case has already been won in arbitration," says White House, a day after adult-film actress Stormy Daniels sued US President Donald Trump for the right to speak about the "intimate relationship" she claims they had.
President Donald Trump says the US would impose tariffs of 25 percent on steel imports and 10 percent on imported aluminium next week, as global leaders mulled taking punitive measures.
Comcast Corp, the biggest cable operator in the United States, offered on Tuesday to pay $31 billion to buy Sky, challenging Rupert Murdoch's Fox and Bob Iger's Walt Disney for the European pay-TV jewel.
Turkey and the Economic Community of West African States (ECOWAS) have signed a trade and investment cooperation agreement in an economic and business forum in Istanbul.
A female entrepreneur in Cameroon ventures into cleaning and cooking snails and ends up making a fortune out of it.
Two collections from Rihanna and a line fronted by singer and actress Selena Gomez reaped dividends for the leaping-cat brand's bottom line.
Monday got off to a calm start but while some managed to stay in positive territory, the afternoon saw gains eroded.
The U.S. International Trade Commission voted 4-0 to reject Boeing's claims that it suffered injury by Bombardier underpricing the CSeries in the U.S. market.
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