Fashion Website Gilt To Be Sold for $250 Million: Hudson’s Bay is the Prospective Buyer
Gilt is into talks with Hudson’s Bay to sell off its business at $250 million. The value of Gilt group is surely slashed from where it was a couple of years ago. The deal is however yet to be finalized early in the coming year.
Dec 15, 2015 7:54 PM EST
Hotels are turning to AirBNB for renting rooms
People globally use AirBNB to rent out spare rooms or an entire house, but now hotels are also using AirBNB to find customers. AirBNB is preferable over Expedia and Priceline as it charge just 3% fee per reservation. Hotels and hostels situated in Los Angeles, Denver, Chicago, Honolulu are also using AirBNB platform.
Apple Inc Acquired the San Jose Chip Making Plant for $18.2 Million
The San Jose chip manufacturing facility plant is purchased by Apple Inc. for $18.2 million. The purpose of buying the plot is still not known. Samsung semiconductor is the new neighbor for Apple after this recent purchase.
Despite BG takeover, Shell to slash jobs
Royal Dutch Shell is keen on slashing jobs by 2,800 as part of its cost reduction exercise. Shell is acquiring BG Group Plc in a £40-billion takeover, for which it has received all the required regulatory approvals. However, considering the lower oil price, shareholders raise questions that offer is overpriced for BG Group plc. The acquisition deal is poised to be over by early 2016.
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Airbus owners reach out future operators for Singapore Airlines’ planes
The owners of five Airbus' A380s leased to Singapore Airlines seek for potential future operators for the planes as the Airlins is still mulling whether to extend the leases.
Dec 15, 2015 3:36 AM EST
Asian stocks trade lower on thin volumes; Oil below $36/ bbl
Asian stocks were trading lower ahead of US Federal Reserve meeting, which will be held during 15-16 December 2015. Barring Shanghai index, all Asian indices ended lower on thin volumes. Oil price slipped below $36 a barrel. Japanese Nikkei index dropped to 10-week low. The Wall Street ended withlosses last week.
Dec 15, 2015 2:08 AM EST
Cotton piles up at warehouses globally
The increasing volumes of global inventories are giving lesser chances for price rise on cotton. However, the cotton output in the US, China and India is expected to be lower this season. Hedge funds are bullish on cotton prices. Cotton has been doing well this year among other commodities. India is expected to be world's largest cotton producer during 2015-16 replacing China.
Dec 15, 2015 2:02 AM EST
The Plan to File a Lawsuit Against Amazon by the NJ Mayor has been Abandoned
People from all over the world were contemplating if filing a lawsuit against Amazon is justified by NJ Mayor over traffic issues. Surprisingly, within a couple of weeks, NJ Mayor has withdrawn his decision to sue Amazon and clarifies the reason behind his sudden decision change.
Dec 14, 2015 8:50 PM EST
Jia Yueting's Faraday Future to Build $1 Billion Electric Car Factory in Nevada
Faraday Futures, Tesla strongest competitor will establish its $1 billion plant in Las Vegas. Backed by Chinese media mogul Jia Yueting, the company will reveal its car in CES electronic trade show in January.
Dec 14, 2015 7:06 AM EST
Alibaba Ventures into the Print Media Business Buying The South China Morning Post For Around $262 million
Alibaba buys The South China Morning Post for approximately US$262 million. It is being said that that the business skill of Jack Ma, the founder of the internet giant Alibaba can surely help SCMP grow.
Dec 14, 2015 6:47 AM EST
Chemical titans DuPont and Dow Chemical agree $130bn merger
Chemical titans DuPont and Dow Chemical Co agreed to merge in a deal that would value the two companies at $130 billion, leading to more savings and more consolidations.
Dec 14, 2015 5:10 AM EST
Wealthy Chinese men are getting rid of their yuan despite IMF's endorsement
Despite the International Monetary Fund endorsement, Rich Chinese men are selling their yuan or Renminbi for other currencies, because they know that the country's economy continues to slow down.
Dec 14, 2015 4:59 AM EST
Blackberry Backs to Tracks: Forefronts Secured Androids
Blackberry possesses 1% chunk of global smartphone market, but still manages to generate $192 million revenue or 41% of global sales from selling 8,00,000 units in Q2 of FY 2016. Blackberry eyes hefty profits by Q4 of FY16 through its unique security features and those include seeking information on developer’s certificate from the apps to be run in the device, which has recognized Blackberry as the forefront in ensuring secured phones that over rides price competitiveness.
Dec 14, 2015 4:14 AM EST
Debt fund blocks investors from withdrawing assets, emphasizing junk-bond plunge
Avenue Focused Credit Fund is blocking its investors from withdrawing their money, which emphasizes the junk-bond decline.
Dec 14, 2015 4:05 AM EST
Talks about U.S. confiscated property in Cuba begins
Faced with sorting out nearly six decades of financial claims and counterclaims against one another that run into the hundreds of billions of dollars, diplomats from the United States and Cuba resorted on Tuesday over one of the most contentious issues remaining between the two countries. The two sides are sitting down for the first time to discuss the American properties Cuba confiscated decades ago.
Dec 14, 2015 4:00 AM EST
Paris Talks: All is well for India in deal, except coal line
India’s coal plans came under repeated attack from developed nations and western media during the two-week climate change conference in Paris. India mostly agrees with the Paris agreement to make a transition to renewable energy. But the inclusion of one line in the article dealing with the deal’s purpose might prove to be a big irritant in its plans to build coal-fired power plants
Dec 14, 2015 3:54 AM EST
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