Consumer spending pumps up US economy to 2% in Q3
Led by consumer spending, the US economy grew two percent in third quarter as against 3.9 percent in the second quarter. Government outlay and business investment supported the US economy during the quarter while household buying kept up the demand during the third quarter.
Dec 23, 2015 9:33 AM EST
Lower oil price forces Shell to abort Arctic oil project
Anglo-Dutch oil major Shell has finally abandoned its drilling operations in Alaska Arctic region citing reason of oil price drop. Shell has been facing several regulatory and climatic challenges in addition to protests from environmentalists. The oil price has been hovering at $40 a barrel throughout 2015.
Kazakhstan ups gold buying spree with Russia
Kazakhstan, Russia and Turkey have been expanding their gold reserves. Kazakhstan continued to buy gold for 38 months in a row. Bullion analysts said that as part of their long-term strategic need, emerging economies are buying gold.
Kinder Morgan, Andersons set sights on ethanol projects
Anderson Inc and Kinder Morgan Inc have drawn up separate plans for ethanol projects. The demand for ethanol is rising as gasoline consumption is increasing on cheaper prices. It's expected that ethanol blend may surpass the 10 percent blend wall limit in 2016.
Latest News
Top iron ore shipper forecasts 19% drop in 2016
Australia's Department of Industry & Science has lowered price forecast on iron ore for 2016 to $41.30 a metric ton from $51.20. Iron ore is the largest export earner for Australia, The export revenues fell 43 percent in 2015. The oversupply and slump in Chinese commodities market are keeping more pressure on iron ore prices.
Dec 22, 2015 9:37 PM EST
Cyberbullying Insurance is now available - to those who can afford it
Global insurance giant Chubb (CB) launched a new cyberbullying insurance that will cover as much as $74,600 for wealthy clients across the U.K. and the Republic of Ireland.
Dec 22, 2015 9:34 PM EST
Ericsson gets patent income from Apple’s iPhone sales profit
Ericsson has signed patent agreement with Apple over the wireless technology used in iPhones and iPads. The deal meant Apple would make one time payment and ongoing patent royalties payment to Ericsson.
Dec 22, 2015 9:28 PM EST
Turing CEO Martin Shkreli Arrested for Securities Fraud
Martin Shkreli, now a former CEO of Turing Pharmaceuticals was arrested last week for security fraud. Shkreli was known for his notorious hedge fund activities in phamaceutical industry.
Dec 22, 2015 9:16 PM EST
Alibaba Hired Top Counterfeit Investigator
Alibaba Holding hired Matthew Bassiur to remove counterfeit product off its site and maintain Alibaba reputation as a global marketplace.
Dec 22, 2015 9:13 PM EST
Qihoo Joins Other Chinese Company To Go Private
Qihoo 360 will delist from New York Stock Exchange after a consortium of buyers agreed to pay its American depository share.
Dec 22, 2015 9:09 PM EST
Hillary's tough financial measures shrugged off by Wall Street
Wall Street is not worried about Hillary Clinton's proposal of stringent measures. The Democrat Presidential candidate is facing criticism over the contributions received from the Wall Street. Hillary said the donations from securities and investment segment are less than three percent of the total contributions she received.
Dec 22, 2015 8:23 PM EST
Panasonic to acquire US refrigeration firm Hussmann for $1.5 billion
Japanese electronics maker Panasonic announced it has agreed to buy the U.S. refrigeration firm Hussmann in a $1.54 billion deal. The deal is expected to close in April 2016.
Dec 22, 2015 10:00 AM EST
McDonald's Japan Shares Plunge After Report That US Parent Company May Sell Stake
McDonald fell the most in almost five years after a report that says the American fast food chain was looking for investors to offload its stake in the Japanese that's struggling to recover from a series of food scandals. McDonald's Corp., the U.S. parent company, is reportedly looking to gain about 100 billion yen ($825 million) and has asked potential buyers to respond by mid-January.
Dec 22, 2015 7:50 AM EST
Gillette is suing the Dolar Shave Club
Gillette filed a patent lawsuit Thursday against Dollar Shave Club Inc. The company is seeking both damages and an injunction to stop the club from selling razors that violated its copyright.
Dec 22, 2015 7:38 AM EST
Puerto Rico Electric Power gets a breather on debt payment
Puerto Rico Electric Power Authority (Prepa) has got more time to work on the restructuring of debt and interest payment. This is for the fourth time Prepa received deadline extension. Prepa is holding discussions with insurance companies to guarantee its debt payment.
Dec 21, 2015 9:10 AM EST
Toshiba in overhaul mode, may post $4 billion net loss
Toshiba is considering a restructuring plan to overhaul it loss-making businesses. The Japanese electronics major is said to have overstated profits for seven years and now forecast to report $4billion net loss. The company is struggling from the impact of an accounting scandal and may sell some units and stakes in some business.
Dec 21, 2015 9:02 AM EST
Most Popular
Newsletters
Stay ahead in finance. Subscribe for expert insights, market updates, and investment strategies. Join our newsletter to secure your financial future.
Latest News
