Richest man in Asia acquires World Triathlon Brand for $650M
Wang Jianlin buys Ironman brand in a move to diversify its sports portfolio. Wang acquired World Triathlon Corporation from US fund Providence Equity partners. The acquisition totalled $900 million along with Triathlon's debt.
Aug 31, 2015 2:16 AM EDT
The Internet of Things is worth $7T market opportunity - IDC
Internet of Things (IoT) will be worth over $7-trillion market in next five years, but majority of global corporate companies are yet to make IoT-based business strategies. The latest study reveals that IoT will enhance efficiency significantly.
High market volatility forces investors turn to cash, gold
The high volatility in stock markes is driving investors towards gold and money market funds. The panic investors were pulling funds off equity markets and investing in gold and money market funds. The last week's beginning downfall on markets paricularly Chinese stock exchanges triggered funds outflow from equities.
Brazil is financially ruined, under recession
Brazil is now suffering from another recession caused by many factors including the sudden drop of its gross national product and the contribution of the much controversial Petrobras scandal.
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The reason Saudi Arabia won't hold off oil production
Oil industry has been suffering too much from the price crash and worse is some have gone bankrupt. Still Saudi Arabia won't lessen it's oil production eventhough they are already affected but more affected are its rivals. In the end, Saudi Arabia will have more to gain.
Aug 31, 2015 1:39 AM EDT
Oil price rebound relieved oil markets
Having a good jump from its almost six-and-a-half years low, oil market has every reasons to breath a sigh of relief. Oil price in the world market rebounded to $50.
Aug 31, 2015 1:22 AM EDT
Walgreens to house Providence clinics inside stores
The sale of medicine is no longer that profitable prompting pharmacies to look for other resources and one way that Walgreens had come up with is to partner with Providence that will provide clinic services within the store.
Aug 31, 2015 12:41 AM EDT
Schlumberger announces merger offer with oilfield maker Cameron
Cameron International had agreed to merge with Schlumberger under some conditions that still needs approval of its shareholders. The consolidaton of the industry is likely toenlarge by the first quarter of 2016.
Aug 31, 2015 12:32 AM EDT
Consumer Group calls for more transparency in product labels, more than what barcodes provide
Barcodes may soon be gone in store products as shoppers and owners look for more information on the products. Experts suggest that there should be new global standards when it comes to products and labels information.
Aug 31, 2015 12:20 AM EDT
China's shrinking demand for copper costs US jobs
China’s demand for copper is fizzling and U.S. mining workers are losing their jobs over it. Copper is used for electronic products, cars, wiring, building construction, and plumbing.
Aug 31, 2015 12:03 AM EDT
Wall Street clocks biggest 2-session surge since 2008 crisis
The rebound on Wall Street has wiped out half of the losses it suffered during the worst crash ever since 2008 crisis. The market recovery on Wednesday and Thursday helped Dow Jones, S&P 500 and Nasdaq post gains of over six percent.
Aug 30, 2015 11:55 PM EDT
Donald Trump favors higher tax rate on rich, hedge funds
Republican Presidential candidate Donald Trump favored high taxes on rich and hedge funds. While asuring lower tax for middle class and other working people, Trump said he would stop corporate inversion that's costing Amercia trillions of dollars.a
Aug 30, 2015 11:38 PM EDT
McDonald's terminated supplier's contract due to animal cruelty
A chicken farm supplier's contract with McDonald's was put to an end after accusations had been proven of the farm's cruelty treatment to the birds. Such animal abuse by the workers was recorded in a footage by a Mercy for Animals investigator.
Aug 28, 2015 8:05 AM EDT
Decline in revenues forces Caterpillar Inc to cut 475 jobs further
Caterpillar Inc has decided to further reduce its employess by 475 following decline in revenues. The sluggishness in global construction and mining sectors is impacting the heavy machinery manufacturer's performance.
Aug 28, 2015 8:02 AM EDT
Panasonic prioritizes electric car batteries over lithium-ion batteries
Panasonic stops its Beijing lithium-ion battery operation to give way to the manufacture of higher-margin products such as electric car batteries for Tesla Motors. The move is all about global trends and to increase sales.
Aug 28, 2015 7:58 AM EDT
McDonald's rejects Burger King's McWhopper peace deal
McDonald's had declined the proposal of Burger King to team up for a cause. Burger King is hoping to unite the country's two favorites and best-loved burgers producing a hybrid peace-loving McWhopper even for just a day.
Aug 28, 2015 5:17 AM EDT
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