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Tullow Oil Plc Expects a Revenue of $1.6 Bln for 2015, 28% lower than 2014

Oil explorer Tullow expects to report revenue of $1.6 billion for the year 2015. The company also anticipates its impairment charges to be $0.9 billion for the full year.

Jan 18, 2016 09:57 PM EST

Woolworths considers pulling out of Masters, following a Lowe’s buyout

The supermarket giant, Woolworths has finally announced its decision to wrap up its home improvement project, Masters. After incurring heavy losses for almost four years, chairman Gordon Cairns has decided on selling or shutting down the operations. For this, the company his approached its joint venture partner, Lowe's, to buy out its 33.3% stake in Masters., but it may take several months to sort out the exit options.

Jan 18, 2016 09:39 PM EST

South African House Prices to Decline in 2016, According to Retail Bank

South African retail bank said the country's house price will decline in this year. Fitch Ratings also remarked South African residential property and mortgage markets outlook to weaken further facing microeconomic challenge.

Jan 18, 2016 09:33 PM EST

Martin Shkreli's $5 Million Bail Was Secured With His E-Trade Account

Last December, Martin Shkreli, who was arrested for securities fraud in pharmaceutical company was released on bail. Court document shows his $5 million security bond was secured with $45 million E-Trade account.

Jan 11, 2016 06:58 AM EST

Scientists found that century-old Alexander Keith's found at Halifax Harbour is in fact beer

The 125-year-old bottle of Alexander Keith's found at the bottom of the Halifax Harbour last year is confirmed by scientists as drinkable beer.

Jan 11, 2016 06:33 AM EST

Oracle billionaire sold controlling interest in his Hawaiian Island Air

Oracle billionaire Larry Ellison's Ohana Airline Holdings LLC will sell a controlling interest of Island Air to venture capital investment company PacifiCap.

Jan 11, 2016 06:14 AM EST

McDonald’s gets a multi-color makeover as CEO pushes the company to be a modern, progressive burger company

McDonald’s launched a new makeover for its packaging using bold, bright colors on cups, boxes, and bags that will become more appealing to customers.

Jan 10, 2016 10:05 PM EST

Philippine Peso, this week’s least loser among emerging Asian market

The Philippine peso is the least loser among emerging-market in Asia this week, thanks to the remittance from its overseas workers and outsourcing industry, which shielded it from the Chinese economic slowdown and increase in US interest rates.

Jan 10, 2016 10:02 PM EST

Tax refund to take longer due to IRS tighter security against fraud

Taxpayers who would file their tax return beginning January 19 will have to wait until March 1 to get their tax refund due to the tighter security the IRS will implement to prevent tax frauds.

Jan 10, 2016 09:58 PM EST

IRS Fines 8 Million Americans, 0.3 Million of Them From Low Income Group

IRS has fined some 8 million people and 1.4 million households are forecast to fall prey of fines due to ignorance on new healthcare law. Commonly criticized as the Obama Care Law, the new law instructs all Americans to go through insurance net. But mainly due to ignorance about mandatory submission of tax returns and moreover legally remain exempted from tax net, have fall victim to count fine for $210 each.

Jan 10, 2016 09:50 PM EST

HSBC and JPMorgan Well Ahead In ARAMCO IPO Race

State owned Saudi Arabian Oil Co. (ARAMCO) is possibly going for an IPO aiming to raise funds for $1 trillion to $10 trillion. Some shares of the IPO may be awarded among the local banks and investors following ARAMCO’s action plan. However, experience in banking operations in the kingdom is believed to play the key role for selection which put HSBC and JPMorgan well ahead in the IPO grabbing race.

Jan 10, 2016 09:45 PM EST

North Korean Nuke Testing and Oil Price Fall Plunges Dow Jones in First Week of 2016

Rising global concerns in first week 2016 including North Korean nuke testing, fall in oil prices, sluggishness of Chinese economy, middle east tension, reservation by Federal Reserve to raise interest rates plunged Dow Jones. Markets in Europe and Asia fell as well.

Jan 12, 2016 07:00 AM EST

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