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Vacation Rental Dwellable Online Services will be Phase Out after HomeAway Acquisition

Vacation Rental Giant HomeAway acquires the top rated vacation rental, Dwellable. HomeAway is going to close down the first mobile vacation rental app services.

Oct 10, 2015 12:11 AM EDT

News

Fiat Chrysler and UAW contingent deal aborts strike

Fiat Chrysler and UAW had reached a tentative agreement preventing workers to strike and stop operation. Union members are requesting for higher wages since auto industry is on the rise again.

News

Sony to divest stake in Sony/ATV Music

Sony Corporation's subsidiary Sony Music owns 50% stake in Sony/ATV Music Publishing. Sony Corporation is planning to sell its stake in Sony/ATV. As per the joint venture agreement, one partner can buy out another. The valuation of Sony/ATV is estimated to be $2bn.

News

Major US banks account for 20% of debts in Glencore

The latest data is indicating exposure of four US banks to embattled Glencore to the tune of 4350mn apiec giving a 20 percent combined contribution to the total debt of the Swiss commodity giant. The four US banks will have tough time ahead of their quarterly results announcement as they receive enquiries about exposure during earnings calls. The slump in commodities market has taken a toll on Glencore.

Herbalife shares tumble on Nu Skin's lower forecast; Ackman continues his allegations

The steep 25 percent drop in Nu Skin share price led to further drop in Herbalife shares. Billionaire hedge fund trader William Ackman has continued his attack against Herbalife accusing it of running a pyramid scheme.

Oct 08, 2015 3:54 AM EDT

Monsanto to cut 2,600 jobs, buyback shares

The US agricultural biotechnology firm Monsanto has undertaken $3-bn share buyback programe,while slashing down 2,600 jobs as part of its restructuring plan. The slump in agricultural commodities market is impacting Monsanto.

Oct 08, 2015 3:49 AM EDT

Wall Street gains propel Asian indices up; China markets reopen on positive note

After a week-long holidays, Shanghai market opened on buying support as the trading volume rose significantly by 34 percent. Over 900 stocks were trading higher on Chinese markets. Barring Nikkei and Hang Seng, all the Asian indices were moving north.

Oct 08, 2015 2:39 AM EDT

UAW threatens Fiat Chrysler with a strike; $40M weekly profit at risk

Fiat Chrysler could lose millions per week if the workers strike will proceed. The pressure of putting the production on halt could also see the already ill company to face a worse issue.

Oct 07, 2015 2:53 AM EDT

Basel-III norms help Morgan Stanley, Goldman regain hedge fund trading business

The US banks including Goldman Sachs and Morgan Stanley are recapturing their lost trding business from hedge fund customers. Thanks to the rules of Basel-III, which sets high capital requirements for trading activity in stocks, bonds, derivatives, etc. European banks like Deutsche Bank are falling short of capital requirements and losing trading business to the US banks.

Oct 07, 2015 2:31 AM EDT

US firms stash $2.1T overseas to skip tax at home

Major US companies prefer to keep their overseas profits out of the country to avoid taxes. It's estimated that 500 large Amercian companies hold $2.1 trillion accumulated profits in safe havens. To repatriate this amount, the US companies need to pay $620 billion in taxes.

Oct 06, 2015 9:48 PM EDT

Samsung struggling to increase revenue

Samsung is expected to announce its quarter earning report on Wednesday. The company has been carrying out lots of different strategy in order to increase its revenue especially in the smartphone industry.

Oct 06, 2015 9:35 PM EDT

Samsung may tap $55B cash reserves for share buyback

South Korean electronics major Samsung may take up share buyback to boost the share price, which's suffering tis worst loss of streak since December 1983. The global electronics major may use its huge $55-billion cash reserves for share buyback.

Oct 06, 2015 5:05 AM EDT

Wal-Mart cuts 450 jobs at headquarters

Headquarters of Wal-Mart in Bentonville is laying off employees in keeping up with the pace of the customers' shopping behavior. The retail company's goal is to push its e-Commerce and be as quick to cater to customer needs and complaints to name a few.

Oct 06, 2015 3:32 AM EDT

Bill Gross sees further 10% drop in US stocks

Bill Gross, a bond manager and co-founder of Pimco, forecasts further 10% drop in the US markets as flat corporate profits, oil price drop, slump in commodities prices, uncertainty in global economy will continue to impact the markets in a negative way.

Oct 06, 2015 1:23 AM EDT

American Apparel filed for bankruptcy protection; restructures $300M debt

American Apparel will restructure its debts upon filing for bankruptcy protection. CEO Paula Schneider said they plan the restructure for the next six months.

Oct 06, 2015 1:21 AM EDT

Growth in U.S. employment could make Fed hike interest rate

It's been a while since the last job rate increased and now Federal Reserve is eyeing a raise on interest rate. September records more jobs and is a sign that the U.S. economy is improving.

Oct 06, 2015 1:20 AM EDT