Marc Andreessen sold $160 million worth of his Facebook Shares
Marc Andreessen has sold almost 75 percent of his Facebook stock in the last two weeks based on SEC filings. According to the same filings, 1.5 millions of shares has been sold by Andreessen.
Nov 16, 2015 5:35 AM EST
US Fed may hike interest rate in December
The top officials at US Federal Reserve are indicating a possible rise in interest rate in next December meeting if economic data is supportive. On the other hand, the rising dollar and weak global economy are impacting US exports, while easing pressure on imports.
Alibaba Group may acquire SCMP group
Alibaba Group, a China-based e-commerce major, is said to be in negotiations to acquire SCMP Group, which runs China Daily. Alibaba is investing in media companies.
Amazon offers great deals through 'Amazon Pantry'
American online retailer Amazon, announced to launch its subscribers based prime scheme. Now the members would be offered the choice of 4000 daily essentials and out of which they can fill up their Pantry box as much as 20 kg for one-day delivery.
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Russian GDP shrinks 4.1% in Q3; fall rate eases
Russian GDP fell 4.1% during the third quarter, but it slowed down when compared with the second quarter's drop of 4.6%. The Western sanctions, oil price drop and lower investment activity are taking a toll on the Russian economy. The oil and gas sector is a major contributor to the Russian economy.
Nov 16, 2015 1:16 AM EST
UK Sold Northern Rock Mortgages To US Worth £13bn
The treasury has sold worth £13bn of Rock Mortgages to a US private investment firm in what is being thought to be the biggest ever financial asset sold by the European government.
Nov 15, 2015 6:36 AM EST
McDonald's drops realty, focuses on turnaround plan
McDonald's has dropped the plan of spinning off its real estate assets to Real Estate Investment Trust (REIT) and instead it'll focus on turnaround plan. The hamburger chain is also expanding its restarant network on franchise basis. McDonald's is also changing its menu list and process of products to alure more number of diners. It has also increased dividend payout to shareholders.
Nov 15, 2015 6:18 AM EST
Major oil firms have biggest war chests for takeovers
The top six oil companies have combined warchest of $0.5 trillion to support takeovers. The world's top six oil companies are ExxonMobil, Chevron, BP Plc, Shell, ConocoPhillips and Total. With lions' share of $320 billion funds, ExxonMobil Corp is leading the list ot top oil comanies with huge liqudity in cash and stock.
Nov 15, 2015 6:04 AM EST
Paris-Based Fashion Brands Wants lawsuit to continue against Alibaba
Kaering SA, parent company of brands such as Yves Saint Laurent and Gucci suing Alibaba Group Holding Ltd have asked a U.S. judge to be relieved of the obligation to mediate.
Nov 15, 2015 5:51 AM EST
Bargain buying creates robust US demand for gold
The August market crash and other adverse conditions in the global economy had created robust demand for the yellow metal in the US. Amercians concerned over market mayhem started buying gold bards and coins boosting the demand growth by a whopping 207 percent. during the third quarter. Equity analysts term it as bargain buying of US investors that pushed god demand spriraling up.
Nov 15, 2015 5:28 AM EST
US Lifts Economic Sanctions Against Liberia After Decades
The United States lifted economic sanctions against Liberia on Thursday as Prresident Barack Obama cited the country's tremendous progress and committment to democracy.
Nov 15, 2015 3:38 AM EST
Drop in agriculture brings down Hungary economic growth in Q3 below forecast
The Eastern European nation Hungary's economy registered 2.3 percent growth rate during the third quarter and this was less than the forecast of 2.5 percent. The drop in agricultureal output impacted the economy, otherwise it would have been at 3%, according to the Ministry of National Economy.
Nov 14, 2015 10:19 PM EST
Fossil Acquire wearable tracker fitness startup Misfit
The wristwatch maker Fossil Group as agreed to buy the fitness wearables company Misfit for $260 million. Fossil Group has its Fossil and Skagen brands, and it licenses a host of others, including Michael Kors, Diesel and DKNY are planning to enter into the fitness market.
Nov 14, 2015 9:55 PM EST
Amazon Kindle Fire is $20 Cheaper for Black Friday
Amazon slashed the price of its Kindle Fire and Fire TV for Black Friday shopping spree. Approaching Thanksgiving, Amazon offers a great price for its Fire gadget series.
Nov 14, 2015 1:25 AM EST
Berkshire Hathaway Doubles Profit in Third Quarter
Berkshire Hathaway doubled its profit in the third quarter to $14 billion mainly due to a $4.4 billion gain from the merger between H.J. Heinz Co and Kraft Group Inc.
Nov 13, 2015 9:34 AM EST
Alibaba breaks own record for most sales in China's Singles' Day sales with 91.2 billion Yuan
Alibaba broke its own record in the China's Single’s Day shopping event with 91.2 billion Yuan sales.
Nov 13, 2015 8:41 AM EST
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