American Apparel will restructure its debts upon filing for bankruptcy protection. CEO Paula Schneider said they plan the restructure for the next six months.

Oct 06, 2015 01:21 AM EDT

Shell's CEO announce that the company will not cut its dividend payment this year even though the oil price continues to go low. The announcement was made in an email statement by Ben Van Beurden himself.

Oct 05, 2015 11:52 PM EDT

The poverty percentage in the world population is poised to drop below 10 percent in 2015 for the first time, forecasts World Bank, which has raised the benchmark of international poverty line to $1.90per day from $1.25 a day in 2005 after taking Purchasing Power Parity (PPP) into consideration.

Oct 05, 2015 09:41 PM EDT

12 countries including the US, Australia, Japan, New Zealand seem to have reached an agreement on Trans Pacific Partnership (TPP) after the prolonged negotiations over five years. It's learnt that agreeing on monopoly on new heathcare drugs is a major breakthrough in arriving the deal. Australis inistited on five year protection on new healthcare drugs, while the US is keen on longer term of monopoly. Sources say that they arrived on a balancing act by adopting a two-way track in drug pricing mechanism.

Oct 05, 2015 09:29 PM EDT

Volkswagen board will have an extraordinary meeting on Wednesday. Along with that, Hans Dieter Poetsch will be appointed as the new head of the supervisory board.

Oct 05, 2015 09:34 PM EDT

A senior Chinese official in an official magazine China Finance suggest the Chinese government to impose punitive leve or Tobin tax on forex transactions in Yuan. This suggestion has been made to reduce trading in the Chinese currency thus arresting the fall in forex reserves. Chinese government is offloading huge amounts of US dollars to supprt the falling Yuan ever since its devaluation on 11 August.

Oct 05, 2015 07:10 PM EDT

The International Association of Insurance Supervisors had agreed to introduce new regulation for insurance company. The regulation will see major insurance companies need to increase their average capital to almost 10 percent.

Oct 05, 2015 08:38 AM EDT

The people-rating app, Peeple, is about to be launched in November 1. But a lot of people wanted to halt its launching because they found it damaging to people's privacy.

Oct 05, 2015 04:36 AM EDT

Who would not love a steaming hot coffee partnered with donuts in the morning? Surely everyone knows and loves Dunkin’ Donuts. Unfortunately, it has to close 100 of its U.S. stores due to collapsing shares.

Oct 05, 2015 02:37 AM EDT

Dubai-based Emirates Airlines is banking on wide-body aircraft for long-haul flight operations enabling it to become a global hub in the Middle East Region. Emirates is the world's biggest operator of Boeing 777 and Airbus A380 aircraft. The total aircraft fleet of Emirates includes 50 Airbus A380s and 100 Boeing 777 aircraft, which are playing a vital role in the success of the Dubai-based airline.

Oct 05, 2015 02:27 AM EDT

Rolls-Royce is expected to cut around 400 jobs in its Scandinavian marine division. The company is expected to cut jobs in the management sector only.

Oct 05, 2015 02:12 AM EDT

HP will be separated into two firms, the Hewlet Packard Enterprise and HP Inc. Prior to the reorganization, the company is set to cut 30, 000 jobs.

Oct 04, 2015 10:12 PM EDT