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Bill Gross sees further 10% drop in US stocks

Bill Gross, a bond manager and co-founder of Pimco, forecasts further 10% drop in the US markets as flat corporate profits, oil price drop, slump in commodities prices, uncertainty in global economy will continue to impact the markets in a negative way.

Oct 06, 2015 1:23 AM EDT

News

American Apparel filed for bankruptcy protection; restructures $300M debt

American Apparel will restructure its debts upon filing for bankruptcy protection. CEO Paula Schneider said they plan the restructure for the next six months.

Markets

Growth in U.S. employment could make Fed hike interest rate

It's been a while since the last job rate increased and now Federal Reserve is eyeing a raise on interest rate. September records more jobs and is a sign that the U.S. economy is improving.

News

Shell assures investors: Dividends will be protected

Shell's CEO announce that the company will not cut its dividend payment this year even though the oil price continues to go low. The announcement was made in an email statement by Ben Van Beurden himself.

World Bank sees global poverty to slip below 10% for first time

The poverty percentage in the world population is poised to drop below 10 percent in 2015 for the first time, forecasts World Bank, which has raised the benchmark of international poverty line to $1.90per day from $1.25 a day in 2005 after taking Purchasing Power Parity (PPP) into consideration.

Oct 05, 2015 9:41 PM EDT

Volkswagen calls for an extraordinary board meeting over emission tests issue; will appoint Poetsch as the new head

Volkswagen board will have an extraordinary meeting on Wednesday. Along with that, Hans Dieter Poetsch will be appointed as the new head of the supervisory board.

Oct 05, 2015 9:34 PM EDT

Breakthrough in Trans Pacific trade talks

12 countries including the US, Australia, Japan, New Zealand seem to have reached an agreement on Trans Pacific Partnership (TPP) after the prolonged negotiations over five years. It's learnt that agreeing on monopoly on new heathcare drugs is a major breakthrough in arriving the deal. Australis inistited on five year protection on new healthcare drugs, while the US is keen on longer term of monopoly. Sources say that they arrived on a balancing act by adopting a two-way track in drug pricing mechanism.

Oct 05, 2015 9:29 PM EDT

Will China impose a punitive tax on forex trades?

A senior Chinese official in an official magazine China Finance suggest the Chinese government to impose punitive leve or Tobin tax on forex transactions in Yuan. This suggestion has been made to reduce trading in the Chinese currency thus arresting the fall in forex reserves. Chinese government is offloading huge amounts of US dollars to supprt the falling Yuan ever since its devaluation on 11 August.

Oct 05, 2015 7:10 PM EDT

Global regulators hike capital requirement for big insurers by 10%

The International Association of Insurance Supervisors had agreed to introduce new regulation for insurance company. The regulation will see major insurance companies need to increase their average capital to almost 10 percent.

Oct 05, 2015 8:38 AM EDT

What is wrong with Peeple: New app faces strong resistance

The people-rating app, Peeple, is about to be launched in November 1. But a lot of people wanted to halt its launching because they found it damaging to people's privacy.

Oct 05, 2015 4:36 AM EDT

Apple's price target of $200 is overstated by 25%, says analyst

Brian White, an analyst at Drexel Hamilton, has set a price target of $200 for Apple stock in his latest initiation report. This is considered to be more aggressive when compared with market projections.

Oct 05, 2015 4:33 AM EDT

Users can now use a video as profile photo on Facebook

The newest in Facebook is already here and is taking UK and California by storm. If you are already bored with your old profile picture, just delete it and replace it with a profile video.

Oct 05, 2015 4:29 AM EDT

Falling shares will close Dunkin’ Donuts 100 U.S. stores

Who would not love a steaming hot coffee partnered with donuts in the morning? Surely everyone knows and loves Dunkin’ Donuts. Unfortunately, it has to close 100 of its U.S. stores due to collapsing shares.

Oct 05, 2015 2:37 AM EDT

Boeing 777 propels Emirates Airlines' growth

Dubai-based Emirates Airlines is banking on wide-body aircraft for long-haul flight operations enabling it to become a global hub in the Middle East Region. Emirates is the world's biggest operator of Boeing 777 and Airbus A380 aircraft. The total aircraft fleet of Emirates includes 50 Airbus A380s and 100 Boeing 777 aircraft, which are playing a vital role in the success of the Dubai-based airline.

Oct 05, 2015 2:27 AM EDT

Rolls-Royce is planning to cut more jobs in the Marine Division

Rolls-Royce is expected to cut around 400 jobs in its Scandinavian marine division. The company is expected to cut jobs in the management sector only.

Oct 05, 2015 2:12 AM EDT