Split in hedge funds group over Puerto Rico's restructuring plan
The group of hedge funds seems to be slitiing off over the restructuring plan for the ailing Puerto Rico economy. Recently the Islan's governor Alejandro Garcia Padilla said that debts were unsustainable. Since then difference of opinion has started widening further among the members. On the other hand, there's increasing voice against the participation of Antonio Weiss in the restructuring talks as it leads to conflict of interest.
Sep 27, 2015 8:57 PM EDT
US home sales rise in August, Q3 forecasts in tact
New home sales were up in August, while business investment eased in August. The latest data for August indicates that US economy is not disturbed much with ongoing slugishness in the global economy. It's estimated that earlier forecast on US GDP growth rate of 1.4 percent is possible for the third quarter.
Sprint is offering iPhone 6S at $1 per Month
Sprint mobile carrier is now offering the lowest price for the new iPhone 6 at $1 per month. The new offer comes few days after T-Mobile started the price war when it is offering the new iPhone 6S at $5 per month.
Goldman Sachs leaves rivals far behind in M&A race
Goldman Sachs achieved a robust year of performance in mergers and aquisitions (M&As) space this year so far leaving its rivals far behind in terms of revenues and fees. Goldman Sachs earned a market share of 12.3 percent in M&A space globally, while JPMorgan and Morgan Stanley were left with market shares of 8.1 percent and 7.7 percent respectively.
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Second Interest Rate cut for Norway
Norway's Central Bank, the Norges Bank announced that it is cutting the country's interest rate to o.75 percent today. This is the second rate cut for this year and the third in 10 months. The rate cut signals a weakening economy in the country's key sector.
Sep 27, 2015 8:39 PM EDT
Final meeting for Trans-Pacific Partnership (TPP) will be held next week
Washington is planning to wrap up the TPP agreement in a meeting in Atlanta next week. Few issues will be resolved during the meeting such as for automotive industry, dairy products, and biological drugs.
Sep 25, 2015 8:05 AM EDT
US Fed Chair Janet Yellen hints at rate hike in 2015
The US Federal Reserve Chair Janet Yellen said she expects interest rate hike this year. The improvement in labor market is the prime reason that give much comforatble level for Fed to take a decision on raising rates. She also expressed her hope that inflation rate will reach to the government's target. the uncertainty over interest rates is causing weakness in the financial markets, she said.
Sep 25, 2015 7:36 AM EDT
Motorola Solutions pruning costs to enhance profit
US-based telecom equipment provider Motorola Solutions is keen on cost cutting drive to enhance profitability of the company. The pressure on sales and market competition are impacting the company's performance. The continuous drop in gross margins is worrying the comapny.
Sep 24, 2015 9:25 PM EDT
Apple just released iOS 9.0.1 to fix the "Slide to Upgrade" bug
Apple just released a major update for its latest iOS 9 today, a week after around half of its users failed to update their devices due to a major bug problem. The update will fix not only "Slide to Upgrade" issue but also other problems reported by users that have been using the latest iOS.
Sep 24, 2015 9:18 PM EDT
Alexis Tsipras retains economic government to battle crisis
Greek Prime Minister Alexis Tsipras appoints the same people for his new economic team that would handle the biggest modern world crisis.
Sep 24, 2015 9:08 PM EDT
20 Active Job Listings with as much as 10 Percent Pay Raises Over the Year
Job and career website Glassdoor reported 20 active job listings that have undergone 3 to 10 percent salary increase from 2014 to 2015.
Sep 24, 2015 8:37 PM EDT
Facebook to Make Money from Messenger
Facebook may monetize how customers connect with businesses through its new Messenger app. Facebook's new Messenger app has made it easier for businesses to have an organic connection with their customers, which could yet be another way for the giant social media platform to earn money.
Sep 24, 2015 8:42 AM EDT
Instagram reached 400 million users with 80 million photos shared every day
Instagram had reached 400 million users with 80 million shared photos a day. The Facebook-owned company announced it on Tuesday.
Sep 24, 2015 8:21 AM EDT
5.6 Million U.S Federal Officers' Fingerprints were Stolen
OPM changes its statement saying that some 5.6 million fingerprints were stolen by hackers when they attack the agency last spring instead of 1.1 million. The stolen data involved U.S government officials including from Defense Department.
Sep 24, 2015 8:12 AM EDT
Indian market regulator slaps $1.1B fine on PACL Ltd
The Securities and Exchange Board of India (Sebi) has imposed a hefty penalty of $1.1B on real estate firm PACL Ltd for illegally raising money from the public- the highest fine on any company so far. The New Delhi-based real estate firm has to complete the payment of fine within 45 days.
Sep 24, 2015 8:03 AM EDT
Zscaler raises $25mn from Google Capital to close $110-mn round
California-based cloud security firm Zscaler has closed $110-mn round of financing. It recently secured $25mn from Google Capital. After the latest round of financing, the estimated value of the company is pegged at $1bn. Zscaler is planning to public soon.
Sep 24, 2015 7:48 AM EDT
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