Investors withdraw from US Oil Fund amid rising volatility
The high volatility in the global oil market has led to huge offloading in 'The US Oil Fund.' 19.3 mn shares were sold off making it a record weekly redemption since the ETF inception in 2006. global economy slowdown particularly adverse conditions in China market are adding to the volatility in oil price.
Sep 10, 2015 7:01 AM EDT
Uber Plans Expansion to 100 Cities in China and Take on Biggest Chinese Rival
Uber plans to expand to 100 more cities in China when it raised $1.2 billion to contest China’s number one taxi-hailing company Didi Kuaidi.
After 3 attempts, ICE to launch Singaporean Futures Exchange in November
After withdrawing from launching plans of Singapore Futures exchange for three times, ICE has set a date for launching it on 17 November. It'll offer five five futures contracts in Brent, gasoil, gold and two contracts in Yuan currency.
UK Stocks Rises for the Third Day Since Turn of the Week, Glencore Leads Miners Higher
UK stocks rises for the third day closing at 6,2229.01, up 1.35 percent yesterday marking this week as the best week since April
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Facebook Business Page gets a Mobile Friendly Update
Facebook announced on Tuesday that the new update will allow businesses to make full use of the platform to engage with their customers.
Sep 10, 2015 5:16 AM EDT
Chinese leaders concern over state of economy
For the first time ever since Chinese economy started slowing down, the country's leaders expressed concerns over the current situation in the domestic market. China President Xi Jinping called the economy slowdown as 'The New Normal.
Sep 10, 2015 4:53 AM EDT
Surfwear Chain Quiksilver Inc. files for bankruptcy, Plans to Give control to Lender Oaktree Capital Management LP
Surfwear chain Quicksilver Inc. filed for bankruptcy and plans to hand control over to Oaktree Capital Management LP.
Sep 10, 2015 3:32 AM EDT
Glencore scraps dividend, to sell equity, assets to bring down debt to $10bn
Switzerland-based commodities giant Glencore has taken up several measures to reduct its debt burden to $10bn level. The company has decided to scrap final and interim dividends in addition to selling a part of equity and other assets to raise funds.
Sep 10, 2015 3:01 AM EDT
Japan's Abe may focus on regulatory reforms
Shinzo Abe's coming back to power as Prime Minister of Japan for a second term raising many questions about the reforms in the world's third largest economy. Economists predict that Abe would focus on more regulatory reforms in labor market.
Sep 10, 2015 2:49 AM EDT
Macy's To Close 40 Underperforming Stores To Focus on Ecommerce
Macy’s Inc plans to close 40 physical stores and focus on eCommerce operations. Macy's Inc recently announced its plans of closing 35 to 40 underperforming stores to focus its operation on online shopping.
Sep 10, 2015 1:49 AM EDT
IRS Rejects Yahoo's Tax-Free Alibaba Spin-off Request, Sending Stocks Down 4%
IRS rejects Yahoo’s plan for a tax-free Alibaba spin-off, which Yahoo hopes would have been a move to give back money to shareholders. Yahoo shares dropped 4% after the news.
Sep 09, 2015 10:59 AM EDT
Paddy Power, Betfair £5B merge deal expects to complete process by 2016
Two of the Britain's online betting site, Paddy Power and Betfair, confirms the merging deal worth £5B. It is expected to be completed next year, which will make them the largest online gambling company in the whole world.
Sep 09, 2015 9:59 AM EDT
500 Startups Slowly Conquering the World with Six New Investment Partners
500 Startups looks to find its new unicorn by hiring six new partners to play specific important roles all over the world.
Sep 09, 2015 9:55 AM EDT
Merger of Four Major Insurance Companies May Harm Healthcare Industry
Doctors, Hospitals, and Healthcare groups fear that the Anthem-Cigna and Aetna-Humana mergers may bring harm to the healthcare industry.
Sep 09, 2015 8:39 AM EDT
One Third Of US Workers Say They're "Free Agents," Not Tied To Just One Boss
A total of 31% of US workers consider themselves free agents. They don’t want to work for the “Man” anymore and be tied up to just one boss.
Sep 09, 2015 6:48 AM EDT
Facebook Waits To Hit A Billion Users For Messenger Before Turning It Into A Meaningful Business
Mark Zuckerberg said they will wait for Messenger to have a billion users and create organic interactions before monetizing it for more income.
Sep 09, 2015 6:41 AM EDT
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