Oshkosh wins $6.75B defense contract to build Humvee replacement
Oshkosh wins bid to manufacture JLTVs for $6.75B. The US Department of Defense has been looking for a replacement of the Humvee a short time after the war in Iraq became deadly in 2004.
Aug 28, 2015 4:30 AM EDT
Floyd Mayweather’s latest car costs only $4.8M
Floyd Mayweather, one of the flashiest athletes in the world, shows off his latest addition to his car collection.
Despite slowdown, US services sector beats forecast
The drop in new businesses in the US services sector in early August caused slowdown in growth as PMI indicates in its latest analysis.
Asian growth plans at risk due to China meltdown
The latest devaluation of Chinese currency Yuan has triggered severe volatility in the foreign exchange (forex) markets. This has led many Asian nations into a dilema and forcing them to not take any major decision on growth plans.
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Liquidity vacuum: GE suffers most since 1987 Black Monday
Global manufacturing giant GE's stock plummeted on Monday and Tuesday on Wall Street in the absence of any major news affecting the company's performance. The plunge of over 20% eroded the stock value by $53billion. Chinese factor after the central bank slashed interest rate, again created fresh bout of fears that dampened that market sentiment and reversing the rebound on Tuesday.
Aug 26, 2015 9:56 AM EDT
A Survivor's Guide to the Market Crash: Don't panic
Analysts advise investors not to worry about ongoing market crash as it's only a correction after recording continuous growth of over 200 percent since economic crisis in 2009. The stock markets fell about 10 percent in the latest market downfall.
Aug 26, 2015 1:40 AM EDT
China plans to boost lending to support slowing economy - report
After devaluing its currency, China takes another step to support its slowing economy. The world's second biggest economy is reportedly planning to free up funds for lending by cutting banks' reserve requirements.
Aug 25, 2015 3:47 AM EDT
Drama in Greece continues with Tsipras calling the vote
Just when Greece was about to get a new 86 billion bailout package, its prime minister, Alexis Tsipras resigned calling for a snap election on September.
Aug 24, 2015 10:15 PM EDT
China GDP slows down, dents mining companies' profits in Q2; raw materials at 6-year low
With prices of raw materials going down, mining companies are reeling under pressure. The slowdown in China economy is impacting their margins. Many mining companies are poised to slash costs.
Aug 24, 2015 4:40 AM EDT
Drop in consumption, exports squeeze Japan’s export basket
Japane suffered drop in exports during the second quarter this year. This coupled with fall in personal conumption put pressure the world's third largest economy slowing down the growth rate to 1.6% as against the forecast of 1.9%.
Aug 24, 2015 2:53 AM EDT
China devaluation: Is it a serious concern for US economy?
The Chinese currency Yuan devaluation is not only impacting Asian economy alone, but also creating tremors in the world's largest economy. The US market is feeling the heat of devaluation of Yuan as it's indirect impact is more on consumer durable products, industry and stock markets as well.
Aug 24, 2015 2:52 AM EDT
These Cuban Guys are Corporate America's bridge to business in Cuba
It has been a half century since Cuba since the Bay of Pigs and now and they are looking for a better future with the diplomacy with America. The raising of the American flag is symbolizes the warming ties between the said countries.
Aug 24, 2015 2:50 AM EDT
Unicorn status for $1.8B ZocDoc
ZocDoc, digital healthcare scheduling company has rounded $1.8 billion giving it the unicorn status for the first time. Expansion will be used for developing products and beyond its scheduling capability.
Aug 24, 2015 2:03 AM EDT
Biomass answers Britain's energy trilemma
UK is almost running out of energy and the government is trying to find which is the best option. They are eyeing biomass which according to them is cost effective and is readily available when and where needed.
Aug 24, 2015 1:53 AM EDT
Oil price crash-hit Kazakhstan's currency tumbles over 23% in free-float trading
Suffering from oil price crash, Kazakhstan has allowed free-float trading in its currency Tenge, which fell steeply 23% creating tremors in the central Asian economy.
Aug 23, 2015 11:17 PM EDT
Iran's huge potential now open for global investments as crisis-hit nation comes out of sanctions
With the five nations led by the US lifting the sanctions on Iran, the underdeveloped oil and gas sector in the fourth largest oil reserves country offers huge investment and growth potential for global companies.
Aug 21, 2015 3:39 AM EDT
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