Credit Suisse fined $80M in dark pool trading charges
Credit Suisse will have to pay $80-mn fine to US SEC in a settlement of charges against it in dark pool trading. Credit Suisse operates the US largest alternative trading platform, on which dark pool accounts are traded for high frequency investors.
Sep 15, 2015 10:14 AM EDT
UniCredit to slash 7% workforce in cost-cutting drive
Italian banking major UniCredit is downsizing its workforce as part of its cost cutting measures. The bank is expected to slash 7,000 jobs mostly in Italy, Germany and Austria. However, the total number of job cuts is likely to reach 10,000 level. Low interest regime is impactign the bank's performance.
Is Jeb Bush really anti-Wall Street?
Jeb Bush, the Republican contender for US President position, is for lower tax rates, while promising for eliminating 'carried interest' of the rich and influencial people in the US corporate sector. Economists and election analysts consider this is an effort get an image among blue-color voters. In reality, Bush's plans help the rich indirectly, analyse the economists.
China unveils details of state-firm reforms as growth sputters
New state firm reformed announced by Chinese authority on Sunday will see the firm being integrate in fewer firm. Through the reform, state-firm will also be given freedom to attract private investors into the firm.
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Oil Search Ltd rejects $8B takover offer by Woodside
Australian oil major Oil Search Ltd has rejected the $8B takeover bid from Woodside Petroleum. Oil Search's board viewed the takeover offer as low price translating into lower valuation of the company and it doesn't serve shareholders' interests.
Sep 14, 2015 9:43 AM EDT
Airbus says U.S. factory will be world's most efficient
AIrbus will officially opened its $600 million plant in Mobile, Alabama. The plant will be the most efficient that the company ever build in an effort to rival Beoing production and growing their presence in the United States.
Sep 14, 2015 2:17 AM EDT
Germany's Tele Columbus agreed to buy Pepcom for €608M
Germany's leading cable provider, Tele Columbus and Pepcom, had agreed to consolidate on Sunday for €608M. The acquisition is set to be completed in April of 2016.
Sep 14, 2015 2:05 AM EDT
Macquarie Group’s expected profits to surge 40% in H1
Macquarie Group's expected profit for the first half could surpass the analysts' projections. The drop in Australian dollar and rise in asset management revenues will help the Group to come out with encouraging results to be announced on 30 October.
Sep 14, 2015 2:05 AM EDT
Vista Equity Partners to buy Solera Holdings Inc. for $6.5 B
Vista Equity Partners together with Goldman Sachs and Koch Industries offers to buy Solera Holdings Inc for a total of $6.5 billion including net debt. The deal will also see Vista buying the company's share at $55.85 per share in cash making it as the biggest acquisition for the firm.
Sep 14, 2015 2:03 AM EDT
Next Plc beats profit forecast; raises wages
UK retailing major Next Plc recorded better than forecast profits for the first half of 2015. Stronger British pound and encouraging performance of its buying teams helped the company post a better results than its peers in the industry. The company has also announced wage rise falling in line with new UK's National Living Wage act.
Sep 14, 2015 2:00 AM EDT
Cage-free eggs for McDonald's in a decade
In about 10 years, consumers of McDonald's will eat eggs lain by free-roaming chickens. This is good news for hens and animal welfare groups but will costs more to egg suppliers.
Sep 14, 2015 1:56 AM EDT
Iran to sell crude oil to Asia on a huge discount in a bid to regain market share in the region
Iran provided good news by reducing the price of its crude oil being sold to Asia come October. Iran is trying to win back its market share in the oil industry competing with other OPEC members, specially Saudi Arabia.
Sep 14, 2015 1:53 AM EDT
Rose Gold iPhone makes its debut
The rose gold color has been revived by Apple with its iPhone 6s giving the efficient smartphone its simple but sophisticated color. Rose gold is the trending color from interior designs to jewelries.
Sep 14, 2015 1:49 AM EDT
Nestlé’s Nespresso provides bigger cups of coffee for Americans
Switzerland is welcoming another Nespresso plant to be situated in Rosmont to cater to America's preference for bigger cups of coffee. It will be the only Nespresso plant to produce pods for VertuoLine to boost more sales in the U.S.
Sep 14, 2015 1:48 AM EDT
Australian dollar recovers as unemployment figures went down
Australia is one of the countries being hit by the global economic turmoil. Now, it is beginning to recover as many businesses hire more employees resulting in the decrease of unemployment rate making the Australian dollar regains its strength.
Sep 14, 2015 1:47 AM EDT
German industrial output gains points, most intense in July
The German industry is beginning to cope up from the previous months of economic slowdown. More goods are now produced, creating more jobs and dropping the rate of unemployment.
Sep 14, 2015 1:43 AM EDT
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