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Markets

US rate hike concerns push Rupee to 26-month lower

The Indian currency Rupee fell against the US dollar to 26-month low following increased concerns about interest rate hike by US Fed. FIIs may sell heavily in Indian markets if US interest rate is increased. Rupee fell 5.5 percent against US dollar this year so far.

Nov 30, 2015 3:02 AM EST

News

Metals bounce, Asian stock futures gain as equities ease

Asian markets recorded diverge trends in global markets. Metals prices started rebounding along with rising Asian stock futures while stocks slipped into pressure on Friday. The US index futures also rallied. The Chinese government's probe into short selling is weakening the investors' confidence.

News

Iran is changing its oil and gas contract to attract $30 billion in new investment

Iran has revealed a new model of oil and gas contracts during a conference in its capital city in an attempt to lure back international oil companies to invest in the country. According to the announcement, Iran will change its buyback system and allow foreign investors to hold more stake in the long run.

News

T-Mobile gifts customers with unlimited LTE promo

T-Mobile started its first "un-carrier unwrapped" promotion with a promotion meant to rewards its existing customers. The company announced today that all existing Simple Choice customers will get 3 months of unlimited LTE data.

LG Display to build new OLED plant with $8.7 billion investment

South Korea's LG Display will invest more than 10 trillion won ($8.71 billion) to build OLED production plant in Paju, South Korea. The production plant will start its production in the end of 2017 as anticipating move of Apple adopting OLED displays for the next iPhones in 2018.

Nov 28, 2015 4:12 AM EST

China Fishery bonds drop as HSBC winds up its operation

China Fishery Group's bonds fell 34% as its banker HSBC has asked Hong Kong High Court to appoint liquidators for winding it up. HSBC filed an application for winding up of two companies -- China Fishery Group and China Fisheries International with an outstanding loan of $680million.

Nov 28, 2015 3:09 AM EST

Inflation Continues as Household Spending Declines in Japan

Japanese government need to issue a monetary stimulus to jumpstart economy. As inflation continue and CPI fell for the third consecutive month.

Nov 27, 2015 7:36 PM EST

OLA Hires the Infosys Veteran Rajiv Bansal As The Chief Financial Officer Of The Company

Ola appoints Rajiv Bansal as the Chief Financial Officer. This Infosys veteran is all set to join Ola at the beginning of the new year 2016.

Nov 27, 2015 8:19 AM EST

Investors Are Betting Massively On The Shining Future Of Recreational Cannabis

The future of legal cannabis industry is full of predictions. Even if the industry might experience a sudden drop in the sale due to new testing rule, the wholesalers will gear up immediately to pass the microbial testing standard. Now, undoubtedly, legal cannabis industry is a lucrative place for investors to put their bets.

Nov 27, 2015 8:10 AM EST

Uber Recruits Three More Bankers to Join The Tech Company

Three bankers are leaving Goldman Sachs to join Uber tech company. They are the latest of Wall Street bankers departed to Silicon Valley.

Nov 27, 2015 12:56 AM EST

Oil prices marginally slip on glut, bleak outlook

The concerns about the geopolitical tensions in the Middle East faded out as oil price marginally eased after gaining for six sessions. Brent and the US crude oil futures were flat ahead of the US Thanksgiving holiday.

Nov 27, 2015 12:49 AM EST

Nickel makers explore ways to weather lower prices

Suffering from 12-year low price levels, nickel makers are planning to slash production and supply levels to boost the prices. The slowdown in China's economy is impacting the most nickel consumption and its price. Nickel manufacturers are considering several options on how to propel the price and sustain the current adverse conditions.

Nov 26, 2015 10:36 PM EST

Herbalife Comes Out Clean Against the “Pyramid Scheme” Lawsuit By Oklahoma Funds

The CEO of Herbalife wins the lawsuit filed against him by the Oklahoma Funds. This lawsuit is not related to the Ackman case filed.

Nov 26, 2015 9:02 AM EST

Lufthansa cabin crew union calls off strike

The main cabin crew union (UFO) at Lufthansa airline has called off a labor strike which lasted until 13 November, registered as the longest strike in the history of the German airline. The management has agreed to extend basic retirement and pension benefits to staff. The next meeting is scheduled on 2 December. In addition to UFO, two other unions will also take part in discussions with the management.

Nov 26, 2015 4:01 AM EST

Sluggish PC, printer sales push HP profit forecast lower

The sluggish sales in PCs and printers is impacting Hewlett-Packard Co's financial performance. The company on 1 November 2015 split into two entities-- HP Inc and Hewlett Packard Enterprise Co (HPE). HP Inc lowered profit forecast for the first quarter as it recorded profits below the market expectations during the third quarter.

Nov 26, 2015 3:00 AM EST

The Polaris Slingshot Is A Thrilling Three-wheeled Roller-Coaster Track Ride

The European and Canadian companies were having fun until American companies decided to join the three-wheeler ring by unveiling Polaris Slingshot three-wheeler, a thriller roller-coaster track ride. Now, with Slingshot, being stable yet adventurous is possible at a time.

Nov 26, 2015 2:28 AM EST