Petra and Ekapa Acquire De Beers Oldest Diamond Mine
Petra Diamond Ltd and Ekapa Minerals Pty have acquired De Beers oldest diamond mine in Kimberley. UK's Petra Diamond Ltd partners with South African's Ekapa Minerals Pty to buy the oldest mines of De Beers in South Africa.
Dec 03, 2015 3:01 AM EST
Japan state-fund mulls picking stake in Sharp Corp
Japan state-backed fund is keen on acquiring stakes in Sharp Corporation for Yen 200 billion ($1.63 billion). Sharp Corp recorded Yen 50 billion operating loss for the first half of 2015. The LCD business unit of Sharp Corp is a major contributor to the losses. Sharp is planning to spin off LCD business unit and later it may consider stake selling, according to media reports.
The ‘Dawn of Justice’ - The Extraordinary Epic Duel Of Batman v Superman
Are you a die-hard follower of superhero movies? The New Year will be charged up with the back to back superhero movie releases. ‘Batman v Superman: Dawn of Justice’ is one of the heavy-weight mega-budget among them that people are waiting eagerly for.
Spain, Italy, Germany beat expectations in November PMI
The PMI in November for the Eurozone was at 52.8 indicating encouraging growth in the industrial output. Spain, Italy and Germany beat forecasts, while France was lagging. All the European nations except Greece recorded growth on the support from new orders and surge in domestic demand.
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Macau's GDP sinks 24% in Q3
Macau's GDP fell over 24 percent in the third quarter. The continuous drop in gambling revenues, which account for two-thirds of its economy, has been taking a toll on Macau for the past 17 months. Chinese government's campaign against corruption and drop in VIP visitors are major reasons from dwindling gambling volume at casinos.
Dec 02, 2015 12:46 AM EST
Chinese buyers step back from US housing market
After witnessing peak level this year, the Chinese investments in the US property markets have suddenly changed the direction. The Chinese government's restrictions on capital outflows and devaluation of Yuan have become major hurdles for the dragon country's investments in the US housing sector. The economy slowdown and sluggish financial markets were prime reasons tha propelled Chinese investors to invest heavily in overseas markets mainly the US, London and Canada.
Dec 02, 2015 12:38 AM EST
Japan's GPIF, the world's biggest pension fund, reported a $64B quarterly loss
Japan’s Government Pension Investment Fund (GPIF), the world’s largest, reported a record loss of $64.34 billion due to China’s economic slowdown.
Dec 01, 2015 10:23 PM EST
Iron ore below $40 in Singapore on surge in supply
The slowdown in China is pulling down the demand and putting more pressure on iron ore prices. The iron ore futures contracts in Singapore fell below $40 a ton for the first time. The market players are concerned over continuous supplies of iron ore. Many steel mills have decided to cut down production level from 2016 onwards.
Dec 01, 2015 10:23 PM EST
JPMorgan leaves bonus pool unchanged since 2014
The change in regulations is keeping a pressure on investment banks. Owing to weaker revenues, several investment banks are slashing down on bonus payout. JPMorgan Chase & Co is keeping its bonus pool unchanged from 2014. However, this decision is subject to the trading performance in December.
Dec 01, 2015 9:53 PM EST
Alberta regulator extends bid time for Canadian Oil Sands
Alberta Securities regulator has given one more month for Canadian Oil Sands to accept or reject the takeover offer from Suncor Energy. The Canadian Oil Sands' board is examining alternatives to continue as an independent company or look at rival offers.
Dec 01, 2015 9:44 PM EST
Chemical firm Chemours cuts 5 percent of its global workforce
Chemours Co announces that the company will layoff some 400 of its workforce globally including 50 in its own headquarters in Wilmington. The company announces that the layoff is part of its ongoing effort to reduce its operating cost.
Dec 01, 2015 9:14 PM EST
U.S.Gas Price Hit The Lowest in Seven Years
Gas price all across U.S is reaching its lowest since 2008, with Michigan as the lowest in all states.
Dec 01, 2015 5:41 AM EST
Oil prices strife ahead of OPEC meeting
All eyes on the forthcoming OPEC meeting as oil prices are reeling under pressure amid the global glut in oil supplies and surging US dollar are impacting severely. The US inventories rose to highest in the past eight decades.
Dec 01, 2015 4:24 AM EST
Tokyo stocks fell amid concerns over Japan’s weaker industrial production
Japanese stock fell after data showed that Japan's industrial production fell short of expectations in October. All but three of 33 industry groups of the Topix index took a dive.
Dec 01, 2015 4:11 AM EST
Amazon unveiled its new drone prototype
Amazon showed off a new drone prototype for its planned 30-minute unmanned delivery service. The prototype shows that the drone used by the company will be able to deliver a package at a speed of 55 mph.
Dec 01, 2015 4:09 AM EST
Ford new union deal will cost the company $600 million in Q4
Ford reaches a new agreement with the UAW and it will cost the company up to $600 million. Based on the new agreement, Ford will also systematically removed its two-tier wage system and give more benefit to its worker.
Dec 01, 2015 2:22 AM EST
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