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.
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.
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.
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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
Greek stock market plunges sharply after re-opening
Greece's stock market plummeted when it re-opened Monday. The biggest casualties were banks which shed 30%.
Aug 04, 2015 11:56 PM EDT
Trouble in the North: Canada's economy continues to shrink
The slowdown in most of Canada's industries and the weakening value of its currency added to the shrinkage of its economy by 0.2% in May. For five consecutive months, Canada has been experiencing a "complex and significant adjustment", as Bank of Canada governor Stephen Poloz calls it.
Aug 04, 2015 10:41 PM EDT
Stock markets expected to be under 4% annual growth
The slowdown in major economies is impacting the corporate performance and putting pressure on sales growth. Analysts forecast that the annual growth rate of stock markets is under 3.5% when adjusted with inflation.
Aug 03, 2015 10:30 PM EDT
Iran plans to buy 90 jets per year: old fleet to be renovated
Iran plans to rebuild its aged fleet by purchasing 90 planes per year from Boeing and Airbus, as soon as Western economic sanctions are lifted.
Aug 03, 2015 9:00 AM EDT
University of Phoenix under FTC scrutiny for possible unfair business practices
After 4 years of GI Bill, the Federal Trade Commission is investigating University of Phoenix for possible deceptive and unfair business practices involving military veteran students.
Aug 03, 2015 1:53 AM EDT
Mexican government hikes dollar auction by almost 4 folds; holds rates
The second largest economy in Latin America is making all the possible efforts to prevent the arrest of its falling peso. It increased dollar auction to support the Mexican peso and waiting for US decision on interest rates.
Aug 03, 2015 1:42 AM EDT
Falling world oil prices result in job cuts
Energy giants take a hit as oil prices collapse. A number of companies, including Shell and Centrica in Britain, are cutting thousands of jobs to cope with losses.
Jul 31, 2015 8:21 AM EDT
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