Caterpillar's part suppliers are feeling the economic slowdown too
J-TEC and Acme Industries are among Caterpillar's biggest parts supplier that have been following Caterpillar footstep and reducing their workforce. Ever since Caterpillar sales went down, the company has pushed back some of its future parts orders causing a lost for these suppliers.
Sep 28, 2015 9:41 PM EDT
Oil traders stockpile at sea amid rising glut
The ever increasing surplus in oil production is boosting more demand for storage facility. The Contango opportunity is driving traders to store more oil on shore storage capacities. Many global oil companies and traders as well are booking tankers for next one year.
Bank of America sees signs of recovery in Russian economy
Russian economy is poised for a marginal recovery, predicts Bank of America. The corporate firms posted 43 percent growth in profits for the first half of 2015. The rise in proficts will translate into capital investments in the near future, say economists.
New H&M stores to open in China
Despite China's market slowdown, still investors take the risks to open business such as H&M. The clothing company will spread its brand awareness among Chinese consumers with hopes that it will be successful.
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Coca-Cola disposes off nine U.S. bottling plants as new supply system arises
Coca-Cola Co. is planing to sell its nine US-based production facilities as part of the plan that could cut the costs and modernized operations.
Sep 28, 2015 4:33 AM EDT
IBM's Watson supercomputer is coming to Silicon Valley
IBM is building a new hub in Silicon Valley for its supercomputer Watson to lure start-ups and data scientists into using its cognitive computing platform. The innovation center is expected to open middle of next year.
Sep 28, 2015 1:37 AM EDT
Goldman Sachs leaves rivals far behind in M&A race
Goldman Sachs achieved a robust year of performance in mergers and aquisitions (M&As) space this year so far leaving its rivals far behind in terms of revenues and fees. Goldman Sachs earned a market share of 12.3 percent in M&A space globally, while JPMorgan and Morgan Stanley were left with market shares of 8.1 percent and 7.7 percent respectively.
Sep 27, 2015 8:44 PM EDT
US Fed Chair Janet Yellen hints at rate hike in 2015
The US Federal Reserve Chair Janet Yellen said she expects interest rate hike this year. The improvement in labor market is the prime reason that give much comforatble level for Fed to take a decision on raising rates. She also expressed her hope that inflation rate will reach to the government's target. the uncertainty over interest rates is causing weakness in the financial markets, she said.
Sep 25, 2015 7:36 AM EDT
Top Crowdfunding Sites For Entrepreneurs Looking to Make their Startups and Projects Come to Life
Crowdfunding is the next wave of raising money to make startups and projects come true for entrepreneurs and Forbes gives a list of the top crowdfunding sites out there.
Sep 24, 2015 8:54 PM EDT
Flat trading is not bad, stay invested
When the market is flat, investors need to bepatient until it gets momentum upwards, advise investment managers. Majority of investors turn panic when markets are nosediving and offload their stocks at worst price. Some investors tend to just be spectators of the market rise. They don't take any action missing the profit booking opportunity.
Sep 24, 2015 8:47 PM EDT
Indian market regulator slaps $1.1B fine on PACL Ltd
The Securities and Exchange Board of India (Sebi) has imposed a hefty penalty of $1.1B on real estate firm PACL Ltd for illegally raising money from the public- the highest fine on any company so far. The New Delhi-based real estate firm has to complete the payment of fine within 45 days.
Sep 24, 2015 8:03 AM EDT
Zscaler raises $25mn from Google Capital to close $110-mn round
California-based cloud security firm Zscaler has closed $110-mn round of financing. It recently secured $25mn from Google Capital. After the latest round of financing, the estimated value of the company is pegged at $1bn. Zscaler is planning to public soon.
Sep 24, 2015 7:48 AM EDT
Winterkorn resigns as Volkswagen CEO
Martin Winterkorn's contract as VW CEO extends until 2018 as agreed upon by the VW's supervisory board despite the controversial emissions scandal. This Friday was the scheduled formal approval.
Sep 24, 2015 7:41 AM EDT
Microsoft makes Office 2016 available worldwide
Microsoft has begun global release of its Office 2016 apps. The new suite, which includes Word, Excel, and PowerPoint, is available for download on the company's subscription service, Office 365. It is also available as one-time purchase for PC's, Macs, and mobile devices.
Sep 24, 2015 1:51 AM EDT
Indian rupee slips in 3 sessions
The rising demand for US dollars and renewed concerns about Chinese economy have impacted Indian currency Rupee in the forex market. The Rupee continued to skid against the US dollar for the three sessions in a row.
Sep 23, 2015 10:24 PM EDT
Rising home values boost American household wealth
American equity recovered from the slump of the 2009 recession. Adding to the sale of homes, couples working extend the family's purchasing power.
Sep 23, 2015 9:12 AM EDT
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