Result Page 143 for Archives

Ping An's Lufax Close to Complete Fundraising valued at $18 Billion

Lufax, a Chinese peer-to-peer lender and broker, is close to completing a round of fundraising valuing the company at about US$18 billion, according to people with knowledge of the matter. The company, which recently changed its name to Lu.com, is raising almost US$1 billion from the sale of a roughly 5 per cent stake, said one of the people, asking not to be identified as the information is private.

Dec 16, 2015 5:45 AM EST

Lesser-known facts about Facebook, Apple and Google

Did you know that if you look at the iPhone photographs in Apple adverts the time is always set to 9:41 A.M. This is the time Steve Jobs unveiled the iPhone. This article will introduce you to such more interesting facts about technology giants, including Facebook, Apple, and Google.

Markets

Crude oil falls below $35 per barrel in NY for first time since 2009

Crude Oil fell below $35 a barrel in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation OPEC members will exacerbate the global oversupply. Futures fell 1.8 percent to $34.99 a barrel in New York, the lowest since Feb. 19, 2009.

News

Canada to Legalize Marijuana

Canadian Prime Minister Justin Trudeau is going to devise and implement a system to effectively legalize and regulate marijuana. In a step towards this Trudeau's administration repeated its pledge to legalize marijuana in a speech outlining its agenda as parliament resumes after the 19 October election. The government however will restrict the access to it to prevent misuse.

Tesla announced to place limits on its Autopilot feature

Tesla feature of semi-autonomous driving in all of its Hong Kong vehicles was disabled in the past. Now, it is also considering limiting its car's Autosteer feature, its automatic lane-keeping technology. However, information regarding the update of the feature will be revealed in upcoming months.

Dec 16, 2015 4:29 AM EST

Asian stocks rise on Wall Street gains

Tracking overnight gains on the US markets, Asian stocks rose on Wednesday. The market is looking to the decision of US Federal Reserve on interest rate. The recovery in oil prices and short covering were the major reasons for the rebound on Asian markets.

Dec 16, 2015 4:00 AM EST

Hong Kong stocks rebound from longest losing streak since 1984

Hong Kong stocks recovered from nine-session losses, the worst phase since July 1984. The market is eagerly waiting for the outcome of the US Fed meeting. The Chinese government has postponed the reduction proposal in retail petrol prices. The fresh rally in energy stocks boosted Hong Kong and China indices.

Dec 16, 2015 3:56 AM EST

Ford’s driverless Fusion Hybrid sedans will hit California roads by 2016

Ford will begin testing its fully autonomous vehicles in California roadways in 2016. The company has received a permit from DMV in California to test its Fusion Hybrid and plans to add more models to the autonomous vehicles road tests.

Dec 16, 2015 3:42 AM EST

Bosnia catching up for Arab investments

Bosnia, a southeast European nation, is attracting not only tourists from the Middle East region but also investors. Arabs are investing heavily in Bosnia's capital city Sarajevo. Bosnia is facing unemployment problem, which is at 40 percent. The country is still suffering from the impact of war. With Arab projects coming up in Bosnia, the tourism sector is set to emerge as an alternative to glamorous Swiss resorts.

Dec 16, 2015 3:40 AM EST

Indian indices rose ahead of Fed decision

Indian equities slipped into pressure as foreign investors pulled off heavily ahead of US Fed meeting. However, the benchmark indices recovered from six-year lows to end the trading on a positive note on Tuesday. The US Fed rate hike is discounted by India amid lower oil prices. Indian imports oil for its 80 percent of energy requirements. Fund managers are bullish on Indian markets for 2016. The surge in consumer prices is positing a tough task for RBI Governor Raghuram Rajan.

Dec 16, 2015 3:37 AM EST

Yuan at 4-year low against the US dollar

After being added to IMF's basket of currencies, Chinese Yuan fell for eight out of 10 sessions, recording its longest run of losses since June. The Chinese currency against the US dollar dropped to four-year low. However, it rose against 11 of 16 major currencies. Chinese central bank in a statement said that Yuan shouldn't be measured by its fluctuations only against the US dollar, but also against other major currencies.

Dec 16, 2015 3:01 AM EST

What does Fed rate hike mean to auto loans, mortgages & credit cards?

The US Federal Reserve is expected to make a decision on the interest rate on Wednesday. Most probably, the Fed will opt for a rate hike. If it raises the interest rate, then it will impact all types of borrowing costs for consumers.

Dec 16, 2015 2:58 AM EST

China restaurant charges diners for breathing unpolluted air

An eatery in Jiangsu Province, China, has charged customers an air cleaning fee on their food bills. The local government said that the fee is illegal and ordered the restaurant owners to fix their pricing system.

Dec 15, 2015 10:37 PM EST

Pepsi to uncork new Gatorade in 2016

PepsiCo will launch Gatorade sports drink in 2016 as the global soft drink major is looking beyong carbonated drinks. The company sees growth potential in organic drinks market. PepsiCo CEO Indra Nooyi recently said focusing on carbonated soft drinks was a thing of the past.

Dec 15, 2015 10:33 PM EST

AEP reaches settlement on coal-fired power plants in Ohio

AEP Ohio said that it has reached a settlement with Ohio state regulators and other parties for long-term contracts with its coal-fired generators. The agreement is expected to be ruled in early 2016.

Dec 15, 2015 10:31 PM EST

Mercedes-AMG unveils the new convertible S65 Cabriolet with powerful V-12 engine

The new Mercedes-AMG S65 Cabriolet will be unveiled on public at the Detroit Motor Show next month. The new convertible S-Class Cabriolet based is powered by powerful V-12 engine that can deliver speed at up to 186 mph.

Dec 15, 2015 10:18 PM EST