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Poundsterling Took a Hit Over Possible "Brexit"

British currency suffered the biggest drop in one day, triggered by speculation Britain to leave. While Prime Minister Cameron stressed the importance of United Kingdom to stay in the EU.

Feb 23, 2016 09:44 AM EST

Victoria's Secret CEO Announced Resignation, Parent Company's CEO to Assume Leadership

Victoria’s Secret CEO Sharen Turney announced her resignation on Friday, concerning investors and briefly crash the parent company’s shares after the news. However, the company had assured investors that the company will retain its success with the parent company’s founder and CEO Les Wexner assuming the role and Turney remaining as the lingerie brand’s advisor.

Feb 23, 2016 09:33 AM EST

Chinese job market dries up with a slowing economy

The Chinese job market has hit a dry spell, with job postings dropping across all sectors at an alarming rate. These findings, put together by the data restructuring company Quanton Data, throw up a pretty grim scenario, specially for the freshers who are about to step into the job market this summer.

Feb 23, 2016 09:26 AM EST

Feelgood Leicester boosting hopes on rebalancing UK economy

The renewed activity of football Premier League is bringing cheer to Leicester city. The flourishing economic activity in the far neglected city is reviving the hopes on rebalancing the UK economy. Economists suggest for enhanced economic activity in East Midlands for rebalancing Britain's economy.

Feb 19, 2016 10:14 AM EST

Rise of micro VC funding in India as investors focus on early-stage investment

The micro venture capital (VC) funding space in India is witnessing a robust activity. A rising new breed of venture capital investors is keen on early-stage investment in startups. About 12 micro venture capital funds are operational in India.

Feb 19, 2016 09:52 AM EST

Puerto Rico in troubled waters, stalls debt payments to provide essential services

Puerto Rico has run into deep economic crisis, with its fiscal agent, the Government Development Bank, running out of reserves to cover even essential services. The government is tilting towards holding on to its debt repayments to sustain the island as a going concern, but their plea to creditors and the Congress to bail them out of the crisis is met with resistance on both fronts.

Feb 19, 2016 09:45 AM EST

Deflation in steel, other commodities dent Japan's export basket

Japan's exports were badly hit by the steep drop in steel prices and other commodities. The world's third largest economy's exports fell 12.9 percent on the year in January to Yen 5.35 trillion ($47.12 billion), while the imports also fell 18 percent.

Feb 19, 2016 09:37 AM EST

Chancellor George Osborne misses approval rating as faith in UK economy slides

Britain is losing its faith in the chancellor George Osborne as he is readying for the annual budget in the midst of global challenges facing the nation's economy. Poor economic conditions prevented the chancellor from achieving his election targets.

Feb 19, 2016 09:13 AM EST

Marijuana Sales Hits Nearly $1 Billion Mark In Colorado

Marijuana sales in Colorado has hit the massive $1 billion mark. After legalization of the cannabis for medicinal and recreational purposes in 2012 the sales has increased by 42 percent over the last year. The state would reportedly use about $35 million of the tax profit for construction of schools.

Feb 16, 2016 07:19 AM EST

Palantir Technologies Acquire Kimono Labs to Strengthen Its Data Extraction Capacity

Data analysis company Palantir Technologies Inc acquired Kimono Labs to increase its data collection capacity. Following the acquisition, Kimono Labs will shut its service on February 29, 2016.

Feb 16, 2016 07:12 AM EST

South Korean Central Bank Keeps Interest Rates Unchanged, Observes Impact of New Stimulus Package

BoK has decided to keep hold benchmark interest rates in place on Tuesday. To tackle the ongoing sluggish economic growth, South Korean government has unveiled a stimulus package on February 3. BoK is predicted to analyze the impact of the stimulus package and hence opts for keeping rates unchanged.

Feb 16, 2016 06:59 AM EST

Orange SA Needs More Weeks For Bouygues Deal

Along with reporting its fourth quarter performance, France telecommunication company Orange SA also report the acquisition plan. The company needs more weeks to have approval from antitrust authorities.

Feb 16, 2016 06:56 AM EST

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