India recruits private sector executives to head state bank reforms
The Indian government recruited executives from the private sector to lead two of the biggest state-owned banks, making it the first such appointments in a wide-range reform strategy to challenge the dominant but often inefficient lenders backed by the government.
Aug 17, 2015 11:32 PM EDT
Financial Struggle: Fidel Castro shares his biggest regrets
Former Cuban president and revolutionary Fidel Castro made startling admissions to Citigroup executive Bill Rhodes, who said that the Latin American leader regretted kicking out the IMF from the country and assigning Che Guevara as the chief of the Cuban central bank.
Forensic science group LGC up for sale at £700m, owner Bridgepoint expects huge returns
LGC, the forensic science service provider that has been helping police solve crime is now up for grabs at £700 million by its private equity firm owner, Bridgepoint.
Air pollution in China kills 4,400 people a day: study
China death toll increases to more than a million due to inhalation of harmful substances that linger in the air which comes from burning fuels. Studies showed that a large percentage of the population is experiencing 120 hours or more of unhealthy air.
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Japan's 0.4% deflated economy, assault to 'Abenomics'
Even with Japanese Prime Minister Shinzo Abe's Abenomics, the country's declining economy cannot be uplift by his three-pronged approach. Unless he did something to make the economy rise once again, he will fail to get support rates from the upcoming Upper House election.
Aug 17, 2015 4:55 AM EDT
Eurozone finance ministers approve the third bailout package for Greece
After heated debate and lengthy explanations, Greece finally gets approval of billions of new loans to reconstruct the country's devastated economy. The said loan will recapitalize Greece banks and will come in installment. Total rescue package reaches 89 billion euros or $93 billion.
Aug 17, 2015 4:32 AM EDT
Leaked documents shows NSA and AT&T worked together in online surveillance
AT&T and NASA had an agreement to spy people's networks, accumulating information such as email and contacts for over 10 years. As of now, it's unsure if there are still transactions going on between the two.
Aug 17, 2015 2:57 AM EDT
China requires bold structural reforms for new sources of growth: IMF
Despite slow down in growth, China can sustain the progress and manage the risk, says IMF in its latest assessment report on the world's second largest economy.
Aug 17, 2015 2:18 AM EDT
Fiat Chrysler recalls 85,816 2015 Chrysler 200 sedans due to faulty connections
Fiat Chrysler Automobiles is recalling 85,816 Chrysler 200 released in 2015. A post-production evaluation founds out that the unit has faulty connections.
Aug 16, 2015 6:26 AM EDT
Bill Gates’ Poop Machine can solve a sanitation problem with a clean water and biofuel solution
The Jackini Omniprocessor, better known as poop machine, undergoes testing at Dakar, Senegal. Gates wrote on his blog that he was impressed with what Jackini has built and he is thrilled with the business model.
Aug 14, 2015 3:24 AM EDT
US banks lead the equity trading revenues in Q2
Morgan Stanely, JPMorgan Chase and Goldman Sachs account for 40% market share in equities trading. Many US banks registered encouraging growth in trading revenues.
Aug 13, 2015 4:10 AM EDT
Continued oil price crash reached lowest level
U.S. crude oil price falls down to its level in more than six years. Over-supply of crude seen as one of the reasons for the oil's low price including the China's yuan devaluation. While most crude oil consumers enjoy the benefits of getting lower fuel, oil industries suffer from low profits forcing them to cut on expenditures and employment.
Aug 13, 2015 4:06 AM EDT
European banks lead other foreign banks' excess reserves at Fed, valued at $1 trillion
Foreign banks prefer to park their excess funds with the US Fed. The unprecedented rise of excess reserves at US Fed has become a cause of concern for the government.
Aug 13, 2015 2:54 AM EDT
China devalues Yuan, Sends Shockwave to Global Market, and Bringing stocks down
China devalued Yuan for the second time in a row, shocking the world market, bringing stocks, commodities, and currencies down.
Aug 13, 2015 2:47 AM EDT
Ford Motor Company moves production of F-650 and F-750 truck from Mexico to Ohio
Ford is moving its production of F-650 and F-750 commercial truck from Mexico to Ohio to save expenses.
Aug 12, 2015 10:54 PM EDT
Food prices at its lowest in 6 years: Here are the reasons why
Food prices dropped due to abundant supplies of dairy products, soybean, and palm oil, the UN Food and Agriculture Organization reports.
Aug 10, 2015 10:32 PM EDT
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