China warns WTO on its cheaper exports hard to resist
Ruling out dumping practice, China has served a notice on complaints with WTO stating that such claims need to meet high standards. As part of WTO rules, importing countries can impose anti-dumping duties on China products.
Nov 12, 2015 3:30 AM EST
Alibaba to acquire China's version of YouTube
Alibaba is set to acquire China's version of Youtube, Youku Tudou. The deal, which is worth $3.7 billion, gives the e-commerce giant access to a digital media market that is larger than the entire population of the United States.
Asian stocks turn mixed, European stocks edged up
The latest economic data from China was mixed and Asian stocks also reacted in a similar way. Nikkei rose for the sixth consecutive session, while Hang Senge, SET index, and others dropped. Shanghai, Jakarta, Kospi, and Sensex were up.
Colombia oil production slips below target
Colombia's oil production is slumping steeply in the wake of reduction in drilling activity, ageing oil wells and continuous drop in oil price. The Colombian government is planning to offer tax incentives to the oil industry to keep up the production.
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China Announces No Tough Rules For Foreign Bank Card Firms
China will not impose tough licensing restrictions on overseas bank card providers. China will not impose tough licensing restrictions on overseas bank card providers looking to enter the country's $7 Trillion card payment market, a senior central bank official claimed on Tuesday.
Nov 12, 2015 2:32 AM EST
Goldman Sachs sells 1.3 million Valeant Asset instead of allowing CEO to add collateral
Instead of adding more collateral, Goldman Sachs sold 1.3 million worth of shares from Valeant CEO Michael Pearson's share of the company on Thursday in line with his $100 loan.
Nov 12, 2015 2:18 AM EST
Dollar rally is back on support of interest-swap rates
The US dollar turned bullish now. The greenback is trading at six-month high against Euro. The two-year dollar interest rate swaps surpassed shared currency area. Higher US interest rate swaps over European rates indicate strongest possibility of interest rate hike by US Federal Reserve.
Nov 12, 2015 1:45 AM EST
Molson Coors to buy SABMiller's stake in Miller Coors
Molson Coors Brewing Co is nearing the closure of buying shares of SABMiller in Miller Coors for $12 billion. The stake sale is very much needed for getting regulatory approval for $106-billion SABMiller and Anheuser-Busch InBev NV merger plan.
Nov 11, 2015 10:38 PM EST
HSBC and JPMorgan Chase Must Increase Their Cash Reserve According to New Rule
After seven years of Lehman Brothers collapse, global economy learns to prevent the same incident occurs. Top 30 world's most important banks must raise trillions to meet new rules of total loss-absorbing capacity, on top of the lists are HSBC and JPMorgan Chase.
Nov 11, 2015 7:43 PM EST
Maersk Buys $845 million of Africa Oil Corp. assets
Maersk Oil will buy $845 million worth of Africa Oil Corp.'s onshore exploration licenses in Kenya and two more in Ethiopia.
Nov 11, 2015 2:54 AM EST
Japan, US rule out re-opening of trade pact
The US and Japan administrations have ruled out any possibility of re-negotiating the just-concluded TPP pact among 12 nations. It took over five years to make the TPP deal and at this stage it's not possible to re-open the trade negotiations.
Nov 11, 2015 2:03 AM EST
EIA cuts 2016 production forecast for US
The US Energy Information Administration (EIA) has cut crude production outlook by one percent for 2016. The oil price fall has also reduced shale drilling activity by over 50 percent in the US. The rise in wages and drop in unemployment rate and gasoline price are creating more demand in the US economy.
Nov 11, 2015 1:48 AM EST
GE and Alstom get $5.6 billion deals to build India railways
General Electric and French firm Alstom get the huge deals for India railways worth as much as $5.6 billion. The companies won the contracts against Bombardier and Siemens.
Nov 10, 2015 10:54 PM EST
Volkswagen pacifying angry US customers with gifts
After the emission scandal, Volkswagen has taken up damage control measures to impress upon angry US customers by offering $1,000 gift in addition to a roadside assistance service at no additional cost for three years.
Nov 10, 2015 10:35 PM EST
Nestlé's Maggi Noodle Makes A Happy Return To Indian Shelves This Diwali After Successful Testing
Nestlé Maggi Noodle which was a top favourite in India was recalled by virtue of a court order in early 2015 for detecting high levels of lead beyond the permitted levels. Nestle recovered ground by having their products tested by an independent laboratory and petitioned to the court for a judicial review.
Nov 10, 2015 4:26 AM EST
Retailers bracing up for big holiday season; hiring in full swing
The US retailers are upbeat about the forthcoming big holiday season and have started hiring people on a part-time basis. The world's largest retailer Amazon is planning to recruit almost 100,000 staff.
Nov 10, 2015 3:39 AM EST
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