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Markets

CItigroup will scale down its block trading business

Citigroup spokesperson said that the bank will scale down its block trading business in the next quarter. The decision came after the bank saw a huge risk in the trading business as the global economic goes into an uncertainty phase.

Oct 14, 2015 2:14 AM EDT

News

Ferrari needs better strategy to attract more investors

Ahead of Ferrari initial public offering, analysts are concern that the company will not be able to give a great return in the long run. However, the company's chairman is optimistic that the brand will be able to grow better after its IPO.

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Ex-JPMorgan banker may become Barclays' CEO

Barclays Plc may appoint Jes Staley as its new CEO. The UK's third largtest bank is expected to make announcement within two weeks. Staley is former banker at JPMorgan Chase. Antony Jenkins, previous CEO, was fired by the bank in July as he lost support from non-executive directors.

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New Hampshire Local Businesses Undergo a Program for Tourism Promotion

The state of New Hampshire will make another effort to boost up their state economy by promoting more French-Canadian tourism. The local businesses will be undergo a program called, "Bienvenue New Hampshire", that will teach them to create a "Quebec business friendly" environment in New Hampshire.

Nike seeks to enable shoppers to 3D print shoes at home

Nike is taking the manufacture of shoes to a whole new level. The company says it is now in the process of developing a technology that will enable customers to 3D print their footwear... at home.

Oct 12, 2015 11:35 PM EDT

Daraprim price hike could affect the pharmaceutical industry

The price hike for Daraprim drug which has been used as one of the drug for treatment of serious disease is causing a public protest and even politician disagree with the move. The news is affecting the image of the pharmaceutical industry and could spell problem for the industry.

Oct 12, 2015 8:49 PM EDT

Greece economy will rise by the middle of 2016

Greece economy is gradually growing after years of recession. This is a good sign that by the middle of next year, Greek has recovered from its economic issues.

Oct 12, 2015 8:19 AM EDT

IFC sees Panda bond market exceeding $50B by 2020

IMF forecasts that the Panda bond market in China is expected to surpass $50-billion mark in next five years. IMF executive board meeting is scheduled in November to discuss Chinese currency inclusion into IMF basket of reserve currencies.

Oct 12, 2015 3:29 AM EDT

273,000 retirees could face benefits cut

Around 273,00 retirees and members of Central State Pension Fund could face benefits cut if the proposal is approved by the Treasury Department. However, the fund's executive director said that he will try his best to provide the best solution.

Oct 11, 2015 9:08 PM EDT

Vacation Rental Dwellable Online Services will be Phase Out after HomeAway Acquisition

Vacation Rental Giant HomeAway acquires the top rated vacation rental, Dwellable. HomeAway is going to close down the first mobile vacation rental app services.

Oct 10, 2015 12:11 AM EDT

Fiat Chrysler and UAW contingent deal aborts strike

Fiat Chrysler and UAW had reached a tentative agreement preventing workers to strike and stop operation. Union members are requesting for higher wages since auto industry is on the rise again.

Oct 09, 2015 7:57 AM EDT

Sony to divest stake in Sony/ATV Music

Sony Corporation's subsidiary Sony Music owns 50% stake in Sony/ATV Music Publishing. Sony Corporation is planning to sell its stake in Sony/ATV. As per the joint venture agreement, one partner can buy out another. The valuation of Sony/ATV is estimated to be $2bn.

Oct 09, 2015 3:37 AM EDT

Major US banks account for 20% of debts in Glencore

The latest data is indicating exposure of four US banks to embattled Glencore to the tune of 4350mn apiec giving a 20 percent combined contribution to the total debt of the Swiss commodity giant. The four US banks will have tough time ahead of their quarterly results announcement as they receive enquiries about exposure during earnings calls. The slump in commodities market has taken a toll on Glencore.

Oct 08, 2015 9:21 PM EDT

Herbalife shares tumble on Nu Skin's lower forecast; Ackman continues his allegations

The steep 25 percent drop in Nu Skin share price led to further drop in Herbalife shares. Billionaire hedge fund trader William Ackman has continued his attack against Herbalife accusing it of running a pyramid scheme.

Oct 08, 2015 3:54 AM EDT

Monsanto to cut 2,600 jobs, buyback shares

The US agricultural biotechnology firm Monsanto has undertaken $3-bn share buyback programe,while slashing down 2,600 jobs as part of its restructuring plan. The slump in agricultural commodities market is impacting Monsanto.

Oct 08, 2015 3:49 AM EDT

Wall Street gains propel Asian indices up; China markets reopen on positive note

After a week-long holidays, Shanghai market opened on buying support as the trading volume rose significantly by 34 percent. Over 900 stocks were trading higher on Chinese markets. Barring Nikkei and Hang Seng, all the Asian indices were moving north.

Oct 08, 2015 2:39 AM EDT