Lower fuel costs propel airline profits high
The year-long price weakness in oil is helping airlines post record level profits. During the last nine months of 2015, the US aviation industry recorded over 60 percent growth in profits. Fuel account for 30 percent of operating expenses of airlines. The drop in oil price is boosting operating profits. Airlines are also passing the oil price drop benefit to passengers as they slashed airfares.
Dec 17, 2015 1:41 AM EST
China, Belgium lead foreigners' offloading in US Treasuries
Foreigners offloading in US Treasuries reached its peak in October. China has been selling US debt after devaluing the Yuan. China also offloads through its Belgium third party account. Many other countries are also selling US Treasuries ahead of US Federal Reserve meeting.
Ping An's Lufax Close to Complete Fundraising valued at $18 Billion
Lufax, a Chinese peer-to-peer lender and broker, is close to completing a round of fundraising valuing the company at about US$18 billion, according to people with knowledge of the matter. The company, which recently changed its name to Lu.com, is raising almost US$1 billion from the sale of a roughly 5 per cent stake, said one of the people, asking not to be identified as the information is private.
Crude oil falls below $35 per barrel in NY for first time since 2009
Crude Oil fell below $35 a barrel in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. Futures fell 1.8 percent to $34.99 a barrel in New York, the lowest since Feb. 19, 2009.
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Asian stocks rise on Wall Street gains
Tracking overnight gains on the US markets, Asian stocks rose on Wednesday. The market is looking to the decision of US Federal Reserve on interest rate. The recovery in oil prices and short covering were the major reasons for the rebound on Asian markets.
Dec 16, 2015 4:00 AM EST
Hong Kong stocks rebound from longest losing streak since 1984
Hong Kong stocks recovered from nine-session losses, the worst phase since July 1984. The market is eagerly waiting for the outcome of the US Fed meeting. The Chinese government has postponed the reduction proposal in retail petrol prices. The fresh rally in energy stocks boosted Hong Kong and China indices.
Dec 16, 2015 3:56 AM EST
Ford’s driverless Fusion Hybrid sedans will hit California roads by 2016
Ford will begin testing its fully autonomous vehicles in California roadways in 2016. The company has received a permit from DMV in California to test its Fusion Hybrid and plans to add more models to the autonomous vehicles road tests.
Dec 16, 2015 3:42 AM EST
Bosnia catching up for Arab investments
Bosnia, a southeast European nation, is attracting not only tourists from the Middle East region but also investors. Arabs are investing heavily in Bosnia's capital city Sarajevo. Bosnia is facing unemployment problem, which is at 40 percent. The country is still suffering from the impact of war. With Arab projects coming up in Bosnia, the tourism sector is set to emerge as an alternative to glamorous Swiss resorts.
Dec 16, 2015 3:40 AM EST
Indian indices rose ahead of Fed decision
Indian equities slipped into pressure as foreign investors pulled off heavily ahead of US Fed meeting. However, the benchmark indices recovered from six-year lows to end the trading on a positive note on Tuesday. The US Fed rate hike is discounted by India amid lower oil prices. Indian imports oil for its 80 percent of energy requirements. Fund managers are bullish on Indian markets for 2016. The surge in consumer prices is positing a tough task for RBI Governor Raghuram Rajan.
Dec 16, 2015 3:37 AM EST
Yuan at 4-year low against the US dollar
After being added to IMF's basket of currencies, Chinese Yuan fell for eight out of 10 sessions, recording its longest run of losses since June. The Chinese currency against the US dollar dropped to four-year low. However, it rose against 11 of 16 major currencies. Chinese central bank in a statement said that Yuan shouldn't be measured by its fluctuations only against the US dollar, but also against other major currencies.
Dec 16, 2015 3:01 AM EST
What does Fed rate hike mean to auto loans, mortgages & credit cards?
The US Federal Reserve is expected to make a decision on the interest rate on Wednesday. Most probably, the Fed will opt for a rate hike. If it raises the interest rate, then it will impact all types of borrowing costs for consumers.
Dec 16, 2015 2:58 AM EST
Pepsi to uncork new Gatorade in 2016
PepsiCo will launch Gatorade sports drink in 2016 as the global soft drink major is looking beyong carbonated drinks. The company sees growth potential in organic drinks market. PepsiCo CEO Indra Nooyi recently said focusing on carbonated soft drinks was a thing of the past.
Dec 15, 2015 10:33 PM EST
Mercedes-AMG unveils the new convertible S65 Cabriolet with powerful V-12 engine
The new Mercedes-AMG S65 Cabriolet will be unveiled on public at the Detroit Motor Show next month. The new convertible S-Class Cabriolet based is powered by powerful V-12 engine that can deliver speed at up to 186 mph.
Dec 15, 2015 10:18 PM EST
Deeper recession, faster CPI, higher rate squeezing Brazil
Latin American nation Brazil is suffering from rising inflation, unemployment and drop in economy growth. The Brazil's central bank is expected to raise interest rate in 2016 and this will further enhance borrowing costs putting more pressure on business and industry.
Dec 15, 2015 9:49 PM EST
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.
Dec 15, 2015 7:46 PM EST
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