Netflix blames 'involuntary churns' for dive in profits
Netflix said that the dropped in its subscriber for this quarter is mainly due to the "Involuntary Churns" when banks roll out new credit card for its customers. The company said in a letter to its shareholders after the company recorded a lower than expected revenue for its third quarter earnings.
Oct 15, 2015 8:41 AM EDT
Wal-Mart shares tumble as profit forecast to drop
Wal-Mart's stock tumbled on the Wall Street following the forecast of earnings drop in the range of 6-12 percent hammered down the market sentiment. Wal-Mart shares fell 10.04 percent or $6.70 to $60.03 indicating biggest fall in a day during the past three decades. The stock was already trading 22 percent lower before the latest drop.
Intel profit down as data center business stagnates
Intel Corporation reported the decreasement of its revenue on quarterly profit. The profit falls regarding to the weak demand for intel's chips used in personal computers. Intel said the business reduce is due to the low growth of data center business area in 2015.
Diageo sells US, UK wine biz for $552m to Aussie firm
UK alcoholic beverage giant Diageo Plc is selling its wine operations in the US and the UK for $552mn (euro483mn) to Treasury Wine Estate, an Australia-based company. Treasury Wine Estate is also in the process of acquiring Blossom Hill, Britain's second largest wine brand. The acquisition deal for Diageo is subject to the approval of UK regulator and also the US anti-trust review. The acquisition deal is expected to be completed in next three months.
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South Korea's bonds volatile amid uncertainty over rates
Korean bond market has been volatile as they rose on account of US interest rate and fell owing to domestic rate of interest factor. The Korean bond market is witnessing upward and downward movement owing to varied hopes on interest rate changes. .
Oct 14, 2015 9:06 PM EDT
Asia stocks follow US shares amid China rout
Taking cues from the US markets, Asian stocks further moved lower for the second session. moderating inflation and slump in factory-gate prices in China's economy have impacted the bourses in negative way. Almost all the major Asian indices turned weaker.
Oct 14, 2015 9:01 PM EDT
It's tough time for Goldman Sachs to sell Concordia debt amid pharma disruption
The Canada-based Concordia Healthcare Corp is in the process of buying Amdipharm Mercury, a drug maker, for $1.9bn. Goldman Sachs is the underwriter and sees a bleak situation for Concordia's debt selling including $1.1 billion term loan and $762mn (GBP500mn) loan for marketing to support the takeover.
Oct 14, 2015 8:57 PM EDT
Volkswagen emissions scandal alarms China quality watchdog
Volkswagen scandal has not spared China from the software that creates false results for emission tests. This cause AQSIQ and the Chinese government to conduct a separate investigation regarding the issue. VW will be hurt most if China takes its toll on the automaker since the country comprises a third of its total global sales.
Oct 14, 2015 8:55 PM EDT
Optimistic OPEC secretary-general expects balanced oil market in 2016
The OPC secterary-general is very positive that by 2016, the oil market will regain its strength and recover from the deep plunge from the previous years. The output remains the same to control the supply and price as well. Non-OPEC countries will soon join depending on the discussion in the meeting that will be held this month in Vienna.
Oct 14, 2015 7:45 AM EDT
Facebook is testing new features for mobile shopping
Facebook wants you not only to connect with friends and family but also with brands. The social network has announced that it is testing features that will enable consumers to buy products using its app.
Oct 14, 2015 7:43 AM EDT
Former Merck & Co analyst enters guilty plea for insider trading
A former Merck and Co Inc analyst was sentenced to more than three years in prison and fined almost $700,00 due to his involvement in insider trading. He was accused of having tips his school friend regarding the information leading to his friend obtaining profit from the information.
Oct 14, 2015 7:41 AM EDT
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
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.
Oct 13, 2015 9:07 PM EDT
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.
Oct 13, 2015 8:54 PM EDT
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.
Oct 13, 2015 8:36 AM EDT
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
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