Gold at its lowest level, dollar at multi-month high for expectations of fed rate hike
Gold is at a six year low hitting its biggest monthly drop in two and a half years, while the dollar is at a multi-month high, as investors and analysts expect the possibility of a U.S. interest rate hike.
Nov 30, 2015 8:31 PM EST
Drought, the Reason of Weakening Rand And The Cause of Food Inflation
The drought in South Africa has started to push food prices higher. The effect of it on inflation is a matter of concern for monetary policy committee of RBI as the value of rand is weakening against dollars. SA will face a serious fiscal crisis if rains do not start falling soon.
US rate hike concerns push Rupee to 26-month lower
The Indian currency Rupee fell against the US dollar to 26-month low following increased concerns about interest rate hike by US Fed. FIIs may sell heavily in Indian markets if US interest rate is increased. Rupee fell 5.5 percent against US dollar this year so far.
Metals bounce, Asian stock futures gain as equities ease
Asian markets recorded diverge trends in global markets. Metals prices started rebounding along with rising Asian stock futures while stocks slipped into pressure on Friday. The US index futures also rallied. The Chinese government's probe into short selling is weakening the investors' confidence.
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Iran is changing its oil and gas contract to attract $30 billion in new investment
Iran has revealed a new model of oil and gas contracts during a conference in its capital city in an attempt to lure back international oil companies to invest in the country. According to the announcement, Iran will change its buyback system and allow foreign investors to hold more stake in the long run.
Nov 29, 2015 11:29 PM EST
T-Mobile gifts customers with unlimited LTE promo
T-Mobile started its first "un-carrier unwrapped" promotion with a promotion meant to rewards its existing customers. The company announced today that all existing Simple Choice customers will get 3 months of unlimited LTE data.
Nov 29, 2015 9:55 PM EST
LG Display to build new OLED plant with $8.7 billion investment
South Korea's LG Display will invest more than 10 trillion won ($8.71 billion) to build OLED production plant in Paju, South Korea. The production plant will start its production in the end of 2017 as anticipating move of Apple adopting OLED displays for the next iPhones in 2018.
Nov 28, 2015 4:12 AM EST
China Fishery bonds drop as HSBC winds up its operation
China Fishery Group's bonds fell 34% as its banker HSBC has asked Hong Kong High Court to appoint liquidators for winding it up. HSBC filed an application for winding up of two companies -- China Fishery Group and China Fisheries International with an outstanding loan of $680million.
Nov 28, 2015 3:09 AM EST
Inflation Continues as Household Spending Declines in Japan
Japanese government need to issue a monetary stimulus to jumpstart economy. As inflation continue and CPI fell for the third consecutive month.
Nov 27, 2015 7:36 PM EST
OLA Hires the Infosys Veteran Rajiv Bansal As The Chief Financial Officer Of The Company
Ola appoints Rajiv Bansal as the Chief Financial Officer. This Infosys veteran is all set to join Ola at the beginning of the new year 2016.
Nov 27, 2015 8:19 AM EST
Investors Are Betting Massively On The Shining Future Of Recreational Cannabis
The future of legal cannabis industry is full of predictions. Even if the industry might experience a sudden drop in the sale due to new testing rule, the wholesalers will gear up immediately to pass the microbial testing standard. Now, undoubtedly, legal cannabis industry is a lucrative place for investors to put their bets.
Nov 27, 2015 8:10 AM EST
Uber Recruits Three More Bankers to Join The Tech Company
Three bankers are leaving Goldman Sachs to join Uber tech company. They are the latest of Wall Street bankers departed to Silicon Valley.
Nov 27, 2015 12:56 AM EST
Oil prices marginally slip on glut, bleak outlook
The concerns about the geopolitical tensions in the Middle East faded out as oil price marginally eased after gaining for six sessions. Brent and the US crude oil futures were flat ahead of the US Thanksgiving holiday.
Nov 27, 2015 12:49 AM EST
Nickel makers explore ways to weather lower prices
Suffering from 12-year low price levels, nickel makers are planning to slash production and supply levels to boost the prices. The slowdown in China's economy is impacting the most nickel consumption and its price. Nickel manufacturers are considering several options on how to propel the price and sustain the current adverse conditions.
Nov 26, 2015 10:36 PM EST
Herbalife Comes Out Clean Against the “Pyramid Scheme” Lawsuit By Oklahoma Funds
The CEO of Herbalife wins the lawsuit filed against him by the Oklahoma Funds. This lawsuit is not related to the Ackman case filed.
Nov 26, 2015 9:02 AM EST
Lufthansa cabin crew union calls off strike
The main cabin crew union (UFO) at Lufthansa airline has called off a labor strike which lasted until 13 November, registered as the longest strike in the history of the German airline. The management has agreed to extend basic retirement and pension benefits to staff. The next meeting is scheduled on 2 December. In addition to UFO, two other unions will also take part in discussions with the management.
Nov 26, 2015 4:01 AM EST
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