Brazilian economy falls into recession with 1.9% contraction in second quarter

Earlier, the country revised down its first quarter GDP decline to 0.7% from 0.2%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KjgAoz August 29, 2015 at 03:31PM http://ift.tt/eA8V8J

UK software firm Innovation in talks with Carlyle over £500m takeover deal

Shares in Innovation closed up 9.93% at 38.75 pence following the news.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1hKpnDy August 29, 2015 at 12:25PM http://ift.tt/eA8V8J

HSBC processes '99%' of delayed salary payments

275,000 payments were held up by an IT glitch, leaving many without cash ahead of the bank holiday weekend.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1hmzPQU August 29, 2015 at 11:36AM http://ift.tt/eA8V8J

Rebekah Brooks returning to News Corp as head of UK operations

Brooks was earlier acquitted of all charges related to the phone-hacking sandal at the News of the World.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NF2mPf August 29, 2015 at 10:42AM http://ift.tt/eA8V8J

UberChina to get $1bn finance to compete with Didi Kuaidi

Investors have agreed to funding that would value UberChina at about $7.5bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UgPaPv August 28, 2015 at 12:38PM http://ift.tt/eA8V8J

UK millionaire population rises by 41% to 715,000 over 5 years

Nearly half of the new millionaires are living outside London and the South East.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MSfejt August 28, 2015 at 12:05PM http://ift.tt/eA8V8J

Oil prices recover on strong US economic growth figures

US gross domestic product (GDP) increased at a 3.7% annualised rate, above economists' estimates, in Q2.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LzryDn August 28, 2015 at 10:53AM http://ift.tt/eA8V8J

Google rejects EU's antitrust complaints citing benefits to consumers and advertisers

Google says its services provide more choice for European consumers.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1i6lzfA August 28, 2015 at 10:21AM http://ift.tt/eA8V8J

Barclays wins dismissal of US lawsuit inspired by best-selling book 'Flash Boys'

Lawsuit accused the bank and major US stock exchanges of preferential treatment to high-frequency traders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1VcO0qA August 27, 2015 at 02:11PM http://ift.tt/eA8V8J

Oil-field services firms Schlumberger and Cameron in $12.7bn deal

Deal values Cameron share at $66.36 apiece, representing 56.3% premium to its most recent closing price.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1VcEGCX August 27, 2015 at 12:49PM http://ift.tt/eA8V8J

Bosch buys advanced battery start-up Seeo, targeting high-growth electric car market

Founded in 2007, Seeo is known for its advancements in high-energy rechargeable lithium-ion batteries.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1VczEGF August 27, 2015 at 12:05PM http://ift.tt/eA8V8J

BlackRock buys digital wealth manager FutureAdvisor

FutureAdvisor manages clients' investments based on computer algorithms.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1i3AW8w August 27, 2015 at 10:53AM http://ift.tt/eA8V8J

Monsanto drops acquisition plan after Syngenta rejects sweetened deal

Monsanto said it will continue to focus on its growth opportunities built on its existing core business.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ElAywp August 27, 2015 at 10:12AM http://ift.tt/eA8V8J

German payment processor Wirecard bidding £6bn for British rival Worldpay

A number of private-equity bidders are looking to acquire Worldpay, which is also considering an IPO.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1V9lhD6 August 26, 2015 at 01:38PM http://ift.tt/eA8V8J

US regulators block $6.8bn merger between energy firms Exelon and Pepco

Pepco shares fell 15.4%, while Exelon shares lost about 4% after decision by D C Public Service Commission.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JZZg7N August 26, 2015 at 12:42PM http://ift.tt/eA8V8J

Airport retailers urged to pass on £2.5bn-a-year VAT savings to passengers

Kabbee, a minicab booking app, launched a Change.org petition to urge duty-free retailers to change their behaviour.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MSSr8y August 26, 2015 at 11:47AM http://ift.tt/eA8V8J

Ashley Madison hack: IBM and HP have largest number of cheaters among tech firms

IBM has 311 employees registered with Ashley Madison, while HP has 160 employees.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1V8WwHb August 26, 2015 at 10:39AM http://ift.tt/eA8V8J

Monsanto sweetens offer for Syngenta to $47bn

Syngenta earlier rejected a $45bn offer, saying it fundamentally undervalued its prospects.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Pw08iI August 25, 2015 at 12:57PM http://ift.tt/eA8V8J

Lloyds shares continue to fall as Osborne plans stake sale within a year

On 25 August, Lloyds shares are trading down 3.15% at 73.46 pence as at 6.24am GMT.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JT15U0 August 25, 2015 at 12:00PM http://ift.tt/eA8V8J

Korean chipmaker SK Hynix announces $38bn investment in 3 new plants

New plants would have updated production techniques to boost company's competitiveness in the ever-evolving semiconductor sector.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1WPeNen August 25, 2015 at 10:53AM http://ift.tt/eA8V8J

Ashley Madison hack: Infidelity site and parent company Avid Life Media faces lawsuit in US

Lawsuit brought by a man identified only as John Doe in California seeks class-action status.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ESuS7W August 25, 2015 at 10:00AM http://ift.tt/eA8V8J

Zurich Insurance seeks to extend deadline to announce RSA deal

The deadline for the Swiss insurer to table a formal offer for RSA is set to expire on 25 August.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MO1Vlv August 24, 2015 at 02:42PM http://ift.tt/eA8V8J

Swiss authorities 'probing' link between banking sector and Malaysian state fund

Investigation is focused on 1Malaysia Development Bhd fund (1MDB), whose advisory board is headed by PM Najib Razak.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1PLHzI5 August 24, 2015 at 01:04PM http://ift.tt/eA8V8J

BT accuses Verizon, AT&T of hurting competition with infrastructure monopolies

The two companies control about 80% of US's "special access network", the telephone and broadband lines used to carry data.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LuOEOm August 24, 2015 at 11:39AM http://ift.tt/eA8V8J

BHP-Billiton spin-off South32 to cut costs and capital expenditure

Company announces cost-cutting plans in its first financial results since its spin-off in May.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1EQ3xDl August 24, 2015 at 10:57AM http://ift.tt/eA8V8J

Oil prices at new 6.5-year lows; Brent and WTI fall below $45 and $40 respectively

Brent crude is down 2.38% at $44.38 per barrel as at 4.15am GMT, while WTI crude declined 2.92% at $39.47.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1hC4VVh August 24, 2015 at 10:03AM http://ift.tt/eA8V8J

Private equity firms team up for Tesco's $6bn South Korean unit

Sale is expected to be Asia's biggest ever private equity deal.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1E9nZ75 August 22, 2015 at 02:31PM http://ift.tt/eA8V8J

Alibaba shares plunge closer to $68 IPO level

Shares closed 3.04% down at $68.18, taking the stock to a new 52-week low, amid a rout in US stock markets.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1PFDB3G August 22, 2015 at 01:11PM http://ift.tt/eA8V8J

Ashley Madison hackers: 'Avid Life Media is like drug dealer abusing addicts'

Impact Team which hacked Ashley Madison explains its motivation behind the attack.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1fxzhGs August 22, 2015 at 12:43PM http://ift.tt/eA8V8J

Uber projects three-fold rise in 2015 bookings worth $10.84bn

Bookings reached $2.91bn in 2014 and $687.8m in 2013, according to the company.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1fuNDaA August 21, 2015 at 04:28PM http://ift.tt/eA8V8J

Yuan's inclusion in SDR basket no big deal for global economy say economists

Special drawing rights account for less than 3% of central bank reserve assets, economists say.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1E9qHd5 August 21, 2015 at 01:36PM http://ift.tt/eA8V8J

Former US banker Charles Antonucci gets 2.5 years for fraud

He sought money from the Troubled Asset Relief Program, established by the US during the 2008 crisis.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gZOd1a August 21, 2015 at 11:57AM http://ift.tt/eA8V8J

Chinese hackers used Microsoft Word documents to attack Indian institutions

Cybercriminals, probably from China, made use of vulnerability in Microsoft software to create backdoors on infected machines.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Pplf68 August 21, 2015 at 11:18AM http://ift.tt/eA8V8J

Kazakh tenge plunges to all-time low after country embraces free-float system

Tenge is trading down 21.57% at 252.60 per US dollar as at 10.20am GMT, after Kazakhstan freed currency.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HXzXvJ August 20, 2015 at 03:44PM http://ift.tt/eA8V8J

JPMorgan, Goldman Sachs and Morgan Stanley join hands for cost-saving data company

New company will accumulate and clean reams of data used to help determine pricing and transaction costs.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HXqGnp August 20, 2015 at 01:19PM http://ift.tt/eA8V8J

GVC Holdings to sweeten offer for Bwin to £1.1bn

GVC earlier revised its offer to £1.03bn from about £1bn, but Bwin favoured £900m deal with 888 Holdings.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NwCFzj August 20, 2015 at 12:33PM http://ift.tt/eA8V8J

IMF defers yuan's inclusion in SDR basket until October 2016

Move comes as IMF awaits further reforms to China's currency policies.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J6xssK August 20, 2015 at 11:35AM http://ift.tt/eA8V8J

Air Partner buys aviation safety consultant Baines Simmons for £6m

Baines Simmons is consultant and adviser to more than 750 aviation organisations.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1WG0WqB August 20, 2015 at 10:31AM http://ift.tt/eA8V8J

Rugby World Cup 2015: UK travel and tourism sector to get £1bn boost

Event expected to be biggest driver of tourism since 2012 London Olympics.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J35vUR August 19, 2015 at 03:11PM http://ift.tt/eA8V8J

Canadian chat app Kik valued at $1bn after $50m investment from Tencent

Popular among teenagers, Kik competes with Whatsapp, Facebook Messenger and Snapchat.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HViXWU August 19, 2015 at 01:09PM http://ift.tt/eA8V8J

Indian e-commerce start-up Snapdeal secures $500m from Alibaba, Foxconn, SoftBank and others

Latest funding round reportedly values online retailer at $5bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Nt8xF3 August 19, 2015 at 12:30PM http://ift.tt/eA8V8J

Vietnam devalues currency for third time to maintain export competitiveness

State Bank of Vietnam has raised its reference rate by 1% to 21,890 dong per US dollar.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Nt0aJA August 19, 2015 at 11:46AM http://ift.tt/eA8V8J

Bangkok bomb blasts: Thailand likely to ease rates as weak tourism receipts could hurt current account

Tourism accounts for around 20% of Thailand's gross domestic product (GDP), including indirect effects.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LiyJCS August 18, 2015 at 04:46PM http://ift.tt/eA8V8J

US IRS hackers accessed additional 220,000 taxpayer accounts

IRS initially estimated potentially affected accounts at 225,000, including 114,000 successful attempts and 110,000 failed attempts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K3n2hy August 18, 2015 at 03:18PM http://ift.tt/eA8V8J

Oil prices fall further as traders expect rates as low as $30

Brent crude is trading down 0.27% at $48.61 per barrel as at 5.48 am GMT, while WTI crude fell 0.14% at $41.81.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MviuRv August 18, 2015 at 11:46AM http://ift.tt/eA8V8J

Troubled Sahara Group not selling Grosvenor House hotel in London

In submission to India's Supreme Court, Sahara said it was not selling its hotel assets in London and New York.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DZISBL August 18, 2015 at 10:54AM http://ift.tt/eA8V8J

Airbus gets largest aircraft order from India's IndiGo

IndiGo's order for 250 A320neo aircraft from Airbus has extended the aeroplane maker's lead over rival Boeing in India.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IXD88g August 17, 2015 at 02:09PM http://ift.tt/eA8V8J

China Tianjin blasts: Toyota and John Deere halt operations in northern city

Toyota closes plant for a couple of days, while John Deere stops operations indefinitely.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K1hiVy August 17, 2015 at 12:19PM http://ift.tt/eA8V8J

FTSE CEOs get 183 times more pay than ordinary worker

Average FTSE 100 CEO pay jumped to £4.964m in 2014, compared to £27,195 median pay for full-time employee.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1PugZmE August 17, 2015 at 11:31AM http://ift.tt/eA8V8J

Japanese economy contracts in second quarter amid weak domestic and external demand

Growth declined at an annualised pace of 1.6% in the second quarter, compared to market forecast of a 1.9% fall.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UNfpiA August 17, 2015 at 08:46AM http://ift.tt/eA8V8J

US to swap oil with Mexico lifting export bans dating back to 1970s

US is working hard to address domestic oil glut caused by its shale boom.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DRZg7v August 15, 2015 at 11:21AM http://ift.tt/eA8V8J

Project Titan: Apple reportedly looking to test self-driving car in California's Bay area

Apple officials contacted GoMentum Station, former naval base near San Francisco that is being converted into testing ground for autonomous vehicles.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J6DLLY August 15, 2015 at 10:58AM http://ift.tt/eA8V8J

IMF: Chinese yuan may become free-floated in next 2-3 years

IMF praises China's recent steps allowing market forces to have greater role in determining exchange rate.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JY3knq August 15, 2015 at 10:08AM http://ift.tt/eA8V8J

Goldman Sachs to buy GE Capital Bank's $16bn online platform

GE Capital Bank's US online banking business has $16bn in savings accounts and other deposits.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JWL2mG August 14, 2015 at 12:50PM http://ift.tt/eA8V8J

Iran to showcase 45 projects at London conference in bid to double oil output

Iran will discuss its new oil contract models and 45 oil and gas projects including oil and gas exploration with international oil companies at December conference.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J7Eq3W August 14, 2015 at 11:29AM http://ift.tt/eA8V8J

Apple reports improved workforce diversity with more hiring of women and minorities

CEO Tim Cook says 50% of US recruitment comprises women, Black, Hispanic, or Native American.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IMDvoe August 14, 2015 at 10:59AM http://ift.tt/eA8V8J

Apple TV launch put off due to stalled talks with CBS, Fox and NBC

Planned announcement at upcoming Apple event in San Francisco dropped.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UGAZ8o August 14, 2015 at 10:18AM http://ift.tt/eA8V8J

Indian court lifts ban on Nestle's Maggi noodles

Bombay High Court says ban on Maggi was violation of principle of natural justice.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1L7okHh August 13, 2015 at 12:41PM http://ift.tt/eA8V8J

Gold demand declines in second quarter as India and China lose appetite for jewellery

WGC says gold demand dropped 12% to a six-year low of 914.9 tonnes in Q2, while supply fell by 5%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1h4MOHh August 13, 2015 at 11:18AM http://ift.tt/eA8V8J

Japan core machinery orders decline adding to fears of second-quarter contraction

Core machinery orders fell 7.9% in June on a monthly basis, down for first time in four months.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JV5Bjl August 13, 2015 at 10:27AM http://ift.tt/eA8V8J

China devalues yuan for third straight day taking fix to 4-year low

People's Bank of China's fresh devaluation by 1.1% raises fears of global currency war.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1P8dSzP August 13, 2015 at 09:48AM http://ift.tt/eA8V8J

US market watchdog charges traders who made over $100m from stolen press releases

US SEC has charged traders who infiltrated servers of news agencies and stole more than 100,000 press releases.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IYlpNc August 12, 2015 at 02:53PM http://ift.tt/eA8V8J

Hong Kong police raid Uber offices and detain 3 employees

Uber is facing probe in Hong Kong over its drivers, who allegedly operate without proper licence and insurance.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JbZatv August 12, 2015 at 12:23PM http://ift.tt/eA8V8J

Wells Fargo explores sale of US crop insurance business

US banks under pressure from regulators to strengthen balance sheets by reducing exposure to high-risk businesses.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1To5FOH August 12, 2015 at 10:59AM http://ift.tt/eA8V8J

Barclays and Credit Suisse face large US fines over alleged 'dark pool' malpractices

Banks are in talks with US regulators to settle claims of alleged unfair practices.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UC4EiU August 12, 2015 at 10:20AM http://ift.tt/eA8V8J

General Electric agrees to sell healthcare finance unit to Capital One for $9bn

Sale comes as part of GE's move to divest $100bn worth of financial assets under GE Capital by end of 2015.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1P5DWvw August 12, 2015 at 09:50AM http://ift.tt/eA8V8J

Alibaba invests $4.6bn to acquire 20% stake in electronics retailer Suning

In return, Suning would acquire a 1.1% stake in Alibaba as part of their strategic partnership agreement.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NmUbUj August 11, 2015 at 11:26AM http://ift.tt/eA8V8J

Shire seen having to raise offer price to get Baxalta to negotiating table

Baxalta's Ludwig Hantson reiterates proposal is 'wholly inadequate'.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1WepRl0 August 11, 2015 at 10:35AM http://ift.tt/eA8V8J

Kraft and Heinz post lower sales in first post-merger earnings release

Sales at Heinz fell by 4.9% to $2.62bn in second quarter, while sales at Kraft fell by 4.1% to $4.52bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J842j5 August 11, 2015 at 09:47AM http://ift.tt/eA8V8J

Food delivery apps pose stiff competition for KFC and McDonald's in China

App-based start-ups backed by internet firms such as Alibaba and Tencent aggregate local restaurants, deliver food and offer discounted dishes.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KdePDe August 10, 2015 at 02:34PM http://ift.tt/eA8V8J

Japan to restart first nuclear reactor since Fukushima disaster

Kyushu Electric Power will open reactor at Sendai facility.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1P0qpW9 August 10, 2015 at 12:30PM http://ift.tt/eA8V8J

Apple supplier Foxconn to set up $5bn project in India

Foxconn will invest $5bn over next five years in new plant in Pune in Maharashtra.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Mfd8cR August 10, 2015 at 11:21AM http://ift.tt/eA8V8J

Warren Buffett's Berkshire Hathaway nearing its biggest acquisition at about $30bn

Company close to signing agreement to buy Precision Castparts, which makes aircraft components and energy-production equipment.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HAL9y2 August 10, 2015 at 10:54AM http://ift.tt/eA8V8J

BHP Billiton axes 380 mining jobs in South Australia

Company cites global challenges in resources sector among reasons for job cuts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1L0E4yl August 10, 2015 at 10:18AM http://ift.tt/eA8V8J

Dick Costolo may exit Twitter's board in possible shakeup

Current Twitter board consists of three former CEOs – Jack Dorsey, Ev Williams and Costolo – a rarity in corporate world.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1W7A0zR August 08, 2015 at 01:01PM http://ift.tt/eA8V8J

China reports weaker trade figures in escalated worries for economy

China's exports in yuan terms declined 8.9% year over year in July, while imports fell 8.6%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K8XuLT August 08, 2015 at 10:29AM http://ift.tt/eA8V8J

Warren Buffett's Berkshire Hathaway reports 37% decline in profit

Second-quarter results were impacted by lower investment gains and underwriting losses in insurance business.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ITZr25 August 08, 2015 at 10:08AM http://ift.tt/eA8V8J

Indian pension fund investing in equities for first time

The Employees Provident Fund Organisation (EPFO) will invest Rs 50bn in two exchange traded funds.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KUdWSU August 07, 2015 at 03:39PM http://ift.tt/eA8V8J

Saudi Arabia set to borrow heavily as low oil prices create budget deficits

Saudi used almost $62bn of its foreign currency reserves so far in 2015, and borrowed $4bn from local banks in July.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M9NaYo August 07, 2015 at 01:07PM http://ift.tt/eA8V8J

Citigroup's sale of OneMain Financial to be delayed on antitrust concerns

Springleaf Holdings, which is set to acquire unit, says deal would be delayed beyond third quarter.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Us2Fhi August 07, 2015 at 11:32AM http://ift.tt/eA8V8J

Informatica taken private with Microsoft and Salesforce joining in as strategic investors

Informatica has been delisted from Nasdaq after it was taken private in a $5.3bn buyout.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IpYIEl August 07, 2015 at 10:53AM http://ift.tt/eA8V8J

William Ackman reveals $5.5bn stake in Cadbury owner Mondelez

Activist investor is expected to pressurise Mondelez board to boost earnings or sell itself.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M9xSD4 August 07, 2015 at 10:13AM http://ift.tt/eA8V8J

Pfizer, Flynn Pharma accused of overpricing anti-epilepsy drug

UK's Competition and Markets Authority could fine the companies 10% of their global turnover, if found guilty.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MOLEfK August 06, 2015 at 03:10PM http://ift.tt/eA8V8J

Adidas acquires fitness app maker Runtastic for €220m

Runtastic will remain its own entity and continue to operate from its current offices.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IJmqsh August 06, 2015 at 01:12PM http://ift.tt/eA8V8J

Ryanair becomes first airline to fly 10 million monthly passengers

In July, airline's traffic increased 11% year over year to 10.14 million customers.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SRKCnb August 06, 2015 at 11:25AM http://ift.tt/eA8V8J

Hedge funds likely gained £10m by shorting RBS shares

George Osborne was criticised for allowing hedge funds to generate huge profits.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1P7Diyc August 06, 2015 at 10:50AM http://ift.tt/eA8V8J

London City Airport up for sale at estimated £2bn

Global Infrastructure Partners is appointing advisers with target to complete sale of airport in 2015.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gLB6RN August 06, 2015 at 10:17AM http://ift.tt/eA8V8J

Uber is world's highest valued start-up at $50bn

Chinese smartphone maker Xiaomi is second-biggest at valuation of $46bn, followed by Airbnb at $25.5bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DtjfZE August 05, 2015 at 03:18PM http://ift.tt/eA8V8J

Foxconn plans major investment to set up plants in India

Company in talks with Indian firms Adani Enterprises, Micromax and Snapdeal to set up factories.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1hiTPEb August 05, 2015 at 12:50PM http://ift.tt/eA8V8J

Robert Downey Jr named highest-paid actor at $80m

Jackie Chan is at number two, followed by Vin Diesel, Bradley Cooper and Adam Sandler.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KPzu3c August 05, 2015 at 11:27AM http://ift.tt/eA8V8J

Baxalta rejects Shire's $30bn all-stock offer

Baxalta says proposal significantly undervalues company and its prospects for growth and value creation.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Dp1ZVH August 05, 2015 at 10:29AM http://ift.tt/eA8V8J

Pfizer gets European approval for $16bn Hospira acquisition

Pfizer is to sell assets including Infliximab biosimilar drug to sustain competition in the European market.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DoXB93 August 05, 2015 at 09:52AM http://ift.tt/eA8V8J

China loses title as world's most liquid stock market after curbs on trading

Daily turnover on mainland exchanges averaged the equivalent of $202bn over past 30 days, $72bn lower than US.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1VYyP5J August 04, 2015 at 02:35PM http://ift.tt/eA8V8J

Malaysia Airlines CEO says social media hype over missing Flight MH370 hurting ticket sales

Airline intends to restart under new legal identity and aims to cut expenses to compete with low-cost rivals.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JJzYJl August 04, 2015 at 01:19PM http://ift.tt/eA8V8J

Gary Klesch scraps plan to buy Tata Steel's Scunthorpe plant, blames government

He said UK government has failed to tackle energy costs and Chinese imports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Igggmd August 04, 2015 at 10:57AM http://ift.tt/eA8V8J

Oil prices recover but stay below $50 mark

Brent oil was at its lowest since January as Opec output hit a recent high in July

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MJ40ip August 04, 2015 at 09:55AM http://ift.tt/eA8V8J

Nokia confirms Here Maps acquisition by German automakers at €2.8bn

Nokia selling maps unit to consortium comprising Audi, BMW and Daimler.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OZc9O2 August 03, 2015 at 12:57PM http://ift.tt/eA8V8J

China's manufacturing activity plunges to lowest level in 3 years

Caixin/Markit final purchasing managers' index (PMI) declined to 47.8 in July from 49.4 in June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gDlf7O August 03, 2015 at 12:18PM http://ift.tt/eA8V8J

European Commission seeks additional information from Halliburton over $35bn merger with Baker Hughes

Halliburton says it will work closely and cooperatively with commission to provide additional information.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LZVN7O August 03, 2015 at 11:07AM http://ift.tt/eA8V8J

Daimler, BMW and Audi consortium reaches deal to buy Nokia Here

German firms to invite Fiat, Renault, Ford and Toyota to invest in Nokia Here.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DmbXqs August 03, 2015 at 10:39AM http://ift.tt/eA8V8J

FX rigging: HSBC to announce increased provisions in interim results

HSBC expected to announce overall charge of over $1bn to cover conduct issues such as FX probes.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K0lOzo August 03, 2015 at 10:17AM http://ift.tt/eA8V8J

Trans-Pacific Partnership talks in Hawaii conclude without agreement

Concerns around automotives, data protection of biologics, dairy and sugar remain as roadblocks.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JCQjj5 August 01, 2015 at 02:50PM http://ift.tt/eA8V8J

Goldman Sachs agrees $270m settlement with mortgage bond investors

Bank will pay around $270m to settle a lawsuit brought by pension funds, who invested in residential MBS underwritten by it.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IAsJ5E August 01, 2015 at 12:18PM http://ift.tt/eA8V8J

Yahoo to buy social shopping site Polyvore

Polyvore is expected to accelerate Yahoo's Mavens growth strategy through its offerings in social, native and mobile.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Hd1Yip August 01, 2015 at 11:32AM http://ift.tt/eA8V8J

Bitcoin exchange MtGox's boss Mark Karpeles arrested in Japan

Karpeles is suspected to have accessed MtGox's computer system and changed data to inflate the exchange's assets.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OGjmBD August 01, 2015 at 10:59AM http://ift.tt/eA8V8J

Malaysia Airlines CEO says social media hype over missing Flight MH370 hurting ticket sales

Airline intends to restart under new legal identity and aims to cut expenses to compete with low-cost rivals.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JJzYJl August 04, 2015 at 01:19PM http://ift.tt/eA8V8J

Gary Klesch scraps plan to buy Tata Steel's Scunthorpe plant, blames government

He said UK government has failed to tackle energy costs and Chinese imports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Igggmd August 04, 2015 at 10:57AM http://ift.tt/eA8V8J

Oil prices recover but stay below $50 mark

Brent oil was at its lowest since January as Opec output hit a recent high in July

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MJ40ip August 04, 2015 at 09:55AM http://ift.tt/eA8V8J

Nokia confirms Here Maps acquisition by German automakers at 2.8bn

Nokia selling maps unit to consortium comprising Audi, BMW and Daimler.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OZc9O2 August 03, 2015 at 12:57PM http://ift.tt/eA8V8J

China's manufacturing activity plunges to lowest level in 3 years

Caixin/Markit final purchasing managers' index (PMI) declined to 47.8 in July from 49.4 in June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gDlf7O August 03, 2015 at 12:18PM http://ift.tt/eA8V8J

European Commission seeks additional information from Halliburton over $35bn merger with Baker Hughes

Halliburton says it will work closely and cooperatively with commission to provide additional information.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LZVN7O August 03, 2015 at 11:07AM http://ift.tt/eA8V8J

Daimler, BMW and Audi consortium reaches deal to buy Nokia Here

German firms to invite Fiat, Renault, Ford and Toyota to invest in Nokia Here.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DmbXqs August 03, 2015 at 10:39AM http://ift.tt/eA8V8J

FX rigging: HSBC to announce increased provisions in interim results

HSBC expected to announce overall charge of over $1bn to cover conduct issues such as FX probes.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K0lOzo August 03, 2015 at 10:17AM http://ift.tt/eA8V8J

Trans-Pacific Partnership talks in Hawaii conclude without agreement

Concerns around automotives, data protection of biologics, dairy and sugar remain as roadblocks.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JCQjj5 August 01, 2015 at 02:50PM http://ift.tt/eA8V8J

Goldman Sachs agrees $270m settlement with mortgage bond investors

Bank will pay around $270m to settle a lawsuit brought by pension funds, who invested in residential MBS underwritten by it.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IAsJ5E August 01, 2015 at 12:18PM http://ift.tt/eA8V8J

Yahoo to buy social shopping site Polyvore

Polyvore is expected to accelerate Yahoo's Mavens growth strategy through its offerings in social, native and mobile.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Hd1Yip August 01, 2015 at 11:32AM http://ift.tt/eA8V8J

Bitcoin exchange MtGox's boss Mark Karpeles arrested in Japan

Karpeles is suspected to have accessed MtGox's computer system and changed data to inflate the exchange's assets.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OGjmBD August 01, 2015 at 10:59AM http://ift.tt/eA8V8J

LinkedIn shares fall despite impressive quarterly results

LinkedIn reported second quarter revenues of $712m, an increase of 33% compared to same quarter in 2014.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KDcCqr July 31, 2015 at 12:25PM http://ift.tt/eA8V8J

Uber to invest $1bn to expand Indian operations

Uber looks to India and China for growth amid competition from Ola and Didi Kuaidi.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ItFkDn July 31, 2015 at 11:09AM http://ift.tt/eA8V8J

Hackers demand huge ransom from banks to avoid DDoS attacks

Hackers warn 100 companies of cyber-attacks, FBI official cited as saying.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1H8Zf9H July 31, 2015 at 10:31AM http://ift.tt/eA8V8J

Peta buys tiny stake in Herms to force ban on exotic animal skin accessories

Herms uses exotic animal skins in its iconic products such as the luxurious Birkin bags.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MxAQBz July 31, 2015 at 09:35AM http://ift.tt/eA8V8J

World Gold Council: Indian jewellery still suffers from 10-15% under-caratage

Council wants India to have rigorous hallmarking system to boost consumer trust in India-made jewellery.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DRdVKy July 30, 2015 at 02:37PM http://ift.tt/eA8V8J

Wembley Arena owner Quintain acquired for 700m by Lone Star

The US private equity fund will pay 131p per share, representing a 22% premium over Quintain's market price.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eCfGEK July 30, 2015 at 12:52PM http://ift.tt/eA8V8J

Sainsbury's sells 281-store pharmacy business to Celesio for 125m

Celesio is owner of LloydsPharmacy, Britain's second biggest retail pharmacy operator with more than 1,500 stores.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MuVwKK July 30, 2015 at 11:15AM http://ift.tt/eA8V8J

UK business leaders want government to act swiftly on Heathrow expansion

Business leaders urge government to approve Airports Commission's recommendation to expand Heathrow.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SiYQgz July 30, 2015 at 10:27AM http://ift.tt/eA8V8J

Facebook claims half of world's online population

Nearly 1.5 billion of the estimated 3 billion users of the internet access Facebook at least once a month.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MuQcXx July 30, 2015 at 09:49AM http://ift.tt/eA8V8J

GM investing $1bn in India to make country new export hub

Company also looks to double its market share in India by 2020.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OOarip July 29, 2015 at 04:18PM http://ift.tt/eA8V8J

India's SpiceJet in talks with Boeing and Airbus for $11b aircraft order

India's budget carrier earlier reported second straight quarter of profitability, rebounding from 2014 losses.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OO1UMj July 29, 2015 at 02:26PM http://ift.tt/eA8V8J

Honeywell to buy Elster from Melrose for 3.3bn

Germany-based Elster is present in more than 130 countries with its devices measuring flow of natural gas, electricity and water.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Irj9St July 29, 2015 at 12:11PM http://ift.tt/eA8V8J

RBS to cut Citizens stake to below 25% after $2.2bn share sale

RBS to sell 75 million shares in US bank through a public offer.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SePBhC July 29, 2015 at 11:20AM http://ift.tt/eA8V8J

UN moves closer to creating global bankruptcy system for indebted countries

UN Ad Hoc Committee on Sovereign Debt Restructuring adopts nine principles in this regard.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1D7Qkul July 29, 2015 at 10:24AM http://ift.tt/eA8V8J

BP cuts capex outlook and warns of longer period of sluggish oil prices

Sluggish China growth and US shale boom to add to supply glut, says oil giant.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SM4hzB July 29, 2015 at 09:39AM http://ift.tt/eA8V8J

Procter & Gamble to name veteran David Taylor as new CEO

The 35-year insider will replace A.G. Lafley, who will remain as chairman to help with leadership transition.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JN8A8Z July 28, 2015 at 10:36AM http://ift.tt/eA8V8J

Teva to acquire Allergan's generic drugs unit for $40.5bn

Teva will pay $33.75bn in cash and offer $6.75bn of its stock for Allergan.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gZ764I July 27, 2015 at 04:08PM http://ift.tt/eA8V8J

Fiat Chrysler gets record $105m US fine over lapses in safety recalls

Carmaker would also have to buy back more than 500,000 Ram pickup trucks and other vehicles under agreement with NHTSA.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JJQB3l July 27, 2015 at 01:35PM http://ift.tt/eA8V8J

Apple, Microsoft, Google and other US firms to commit $140bn to address climate change

Bank of America, General Motors, Cargill, Wal-Mart Stores, Coca-Cola and PepsiCo will also contribute.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OJPDIN July 27, 2015 at 12:37PM http://ift.tt/eA8V8J

AirAsia blasts Malaysia airport operator for 'sinking' new terminal in Kuala Lumpur

AirAsia boss Tony Fernandes highlights risks of cracks in taxiway.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HTZQzO July 27, 2015 at 11:56AM http://ift.tt/eA8V8J

Great Scotland Yard sold to Indian billionaire Yusuffali Kader for 110m

Kader's Lulu Group and Steigenberger to turn property into luxury hotel with suites costing up to 10,000 a night.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IA7D9B July 27, 2015 at 10:48AM http://ift.tt/eA8V8J

UK house prices inflated by foreign criminals by laundering billions via luxury properties

Donald Toon, director of economic crime at NCA, says property market skewed by laundered money.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Io2cZk July 25, 2015 at 11:48AM http://ift.tt/eA8V8J

Gold prices plunge to new 5.5-year low on strong dollar, silver hits 6-year low

Gold prices closed at $1,085.50 per ounce on 24 July, down 0.79% or $8.60, on Comex.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MsQEXi July 25, 2015 at 11:02AM http://ift.tt/eA8V8J

Nokia's 15.6bn acquisition of Alcatel-Lucent gets European Commission approval

Regulator says deal will not hamper competition as Ericsson and Huawei are already there.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MsNnqY July 25, 2015 at 09:58AM http://ift.tt/eA8V8J

US Fed data leak shows staff expect interest rate to increase

As per staff projections, Fed will increase benchmark rates to 0.35% by end of 2015 from 0.13%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LJadsM July 25, 2015 at 09:28AM http://ift.tt/eA8V8J

LinkedIn shares fall despite impressive quarterly results

LinkedIn reported second quarter revenues of $712m, an increase of 33% compared to same quarter in 2014.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KDcCqr July 31, 2015 at 12:25PM http://ift.tt/eA8V8J

Uber to invest $1bn to expand Indian operations

Uber looks to India and China for growth amid competition from Ola and Didi Kuaidi.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ItFkDn July 31, 2015 at 11:09AM http://ift.tt/eA8V8J

Hackers demand huge ransom from banks to avoid DDoS attacks

Hackers warn 100 companies of cyber-attacks, FBI official cited as saying.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1H8Zf9H July 31, 2015 at 10:31AM http://ift.tt/eA8V8J

Peta buys tiny stake in Hermès to force ban on exotic animal skin accessories

Hermès uses exotic animal skins in its iconic products such as the luxurious Birkin bags.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MxAQBz July 31, 2015 at 09:35AM http://ift.tt/eA8V8J

World Gold Council: Indian jewellery still suffers from 10-15% under-caratage

Council wants India to have rigorous hallmarking system to boost consumer trust in India-made jewellery.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DRdVKy July 30, 2015 at 02:37PM http://ift.tt/eA8V8J

Wembley Arena owner Quintain acquired for £700m by Lone Star

The US private equity fund will pay 131p per share, representing a 22% premium over Quintain's market price.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eCfGEK July 30, 2015 at 12:52PM http://ift.tt/eA8V8J

Sainsbury's sells 281-store pharmacy business to Celesio for £125m

Celesio is owner of LloydsPharmacy, Britain's second biggest retail pharmacy operator with more than 1,500 stores.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MuVwKK July 30, 2015 at 11:15AM http://ift.tt/eA8V8J

UK business leaders want government to act swiftly on Heathrow expansion

Business leaders urge government to approve Airports Commission's recommendation to expand Heathrow.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SiYQgz July 30, 2015 at 10:27AM http://ift.tt/eA8V8J

Facebook claims half of world's online population

Nearly 1.5 billion of the estimated 3 billion users of the internet access Facebook at least once a month.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MuQcXx July 30, 2015 at 09:49AM http://ift.tt/eA8V8J

GM investing $1bn in India to make country new export hub

Company also looks to double its market share in India by 2020.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OOarip July 29, 2015 at 04:18PM http://ift.tt/eA8V8J

India's SpiceJet in talks with Boeing and Airbus for $11b aircraft order

India's budget carrier earlier reported second straight quarter of profitability, rebounding from 2014 losses.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OO1UMj July 29, 2015 at 02:26PM http://ift.tt/eA8V8J

Honeywell to buy Elster from Melrose for £3.3bn

Germany-based Elster is present in more than 130 countries with its devices measuring flow of natural gas, electricity and water.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Irj9St July 29, 2015 at 12:11PM http://ift.tt/eA8V8J

RBS to cut Citizens stake to below 25% after $2.2bn share sale

RBS to sell 75 million shares in US bank through a public offer.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SePBhC July 29, 2015 at 11:20AM http://ift.tt/eA8V8J

UN moves closer to creating global bankruptcy system for indebted countries

UN Ad Hoc Committee on Sovereign Debt Restructuring adopts nine principles in this regard.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1D7Qkul July 29, 2015 at 10:24AM http://ift.tt/eA8V8J

BP cuts capex outlook and warns of longer period of sluggish oil prices

Sluggish China growth and US shale boom to add to supply glut, says oil giant.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SM4hzB July 29, 2015 at 09:39AM http://ift.tt/eA8V8J

Procter & Gamble to name veteran David Taylor as new CEO

The 35-year insider will replace A.G. Lafley, who will remain as chairman to help with leadership transition.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JN8A8Z July 28, 2015 at 10:36AM http://ift.tt/eA8V8J

Teva to acquire Allergan's generic drugs unit for $40.5bn

Teva will pay $33.75bn in cash and offer $6.75bn of its stock for Allergan.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gZ764I July 27, 2015 at 04:08PM http://ift.tt/eA8V8J

Fiat Chrysler gets record $105m US fine over lapses in safety recalls

Carmaker would also have to buy back more than 500,000 Ram pickup trucks and other vehicles under agreement with NHTSA.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JJQB3l July 27, 2015 at 01:35PM http://ift.tt/eA8V8J

Apple, Microsoft, Google and other US firms to commit $140bn to address climate change

Bank of America, General Motors, Cargill, Wal-Mart Stores, Coca-Cola and PepsiCo will also contribute.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OJPDIN July 27, 2015 at 12:37PM http://ift.tt/eA8V8J

AirAsia blasts Malaysia airport operator for 'sinking' new terminal in Kuala Lumpur

AirAsia boss Tony Fernandes highlights risks of cracks in taxiway.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HTZQzO July 27, 2015 at 11:56AM http://ift.tt/eA8V8J

Great Scotland Yard sold to Indian billionaire Yusuffali Kader for £110m

Kader's Lulu Group and Steigenberger to turn property into luxury hotel with suites costing up to £10,000 a night.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IA7D9B July 27, 2015 at 10:48AM http://ift.tt/eA8V8J

UK house prices inflated by foreign criminals by laundering billions via luxury properties

Donald Toon, director of economic crime at NCA, says property market skewed by laundered money.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Io2cZk July 25, 2015 at 11:48AM http://ift.tt/eA8V8J

Gold prices plunge to new 5.5-year low on strong dollar, silver hits 6-year low

Gold prices closed at $1,085.50 per ounce on 24 July, down 0.79% or $8.60, on Comex.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MsQEXi July 25, 2015 at 11:02AM http://ift.tt/eA8V8J

Nokia's €15.6bn acquisition of Alcatel-Lucent gets European Commission approval

Regulator says deal will not hamper competition as Ericsson and Huawei are already there.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MsNnqY July 25, 2015 at 09:58AM http://ift.tt/eA8V8J

US Fed data leak shows staff expect interest rate to increase

As per staff projections, Fed will increase benchmark rates to 0.35% by end of 2015 from 0.13%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LJadsM July 25, 2015 at 09:28AM http://ift.tt/eA8V8J

Anglo American to cut 6,000 jobs to counter low commodity prices

Company looks to save $500m via various cost cutting measures, as it posted a huge loss for the first half.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1frbRD4 July 24, 2015 at 02:38PM http://ift.tt/eA8V8J

China's manufacturing sector contracts for 5th straight month in July

Flash Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) declined to 48.2, the lowest reading since April 2014.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Kog08k July 24, 2015 at 12:10PM http://ift.tt/eA8V8J

Forbes Asia Fabulous 50: China's Tencent and India's HDFC Bank bag top honours

Baidu, Lenovo, TCS and Tata Motors also on prestigious list.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CTHosp July 24, 2015 at 11:34AM http://ift.tt/eA8V8J

Japan's Meiji Yasuda acquiring StanCorp of US for $5bn

Move comes as Japanese insurers look abroad for growth amid domestic slowdown.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IpZLY6 July 24, 2015 at 10:14AM http://ift.tt/eA8V8J

AT&T secures FCC nod to complete $48.5bn deal with DirecTV

At least three of five FCC commissioners voted in favour of deal with conditions.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JBTdA8 July 24, 2015 at 08:15AM http://ift.tt/eA8V8J

Qualcomm to cut 15% of workforce and consider break-up

Qualcomm's third quarter revenues fell 14.3% to $5.83bn — the first quarterly fall in five years.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OyYltj July 23, 2015 at 01:09PM http://ift.tt/eA8V8J

Bank of America CFO Bruce Thompson steps down

Thompson will be replaced by Paul Donofrio with effect from 1 August.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MpmZy7 July 23, 2015 at 11:53AM http://ift.tt/eA8V8J

US Senator calls on regulators to probe Apple for antitrust violations in music streaming market

Senator Al Franken said regulators need to ensure meaningful competition in ever-evolving digital music industry.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gPvEwM July 23, 2015 at 11:24AM http://ift.tt/eA8V8J

Versace-designed Aykon Tower flats in Nine Elms to cost £711,000 and more

The 57-storey skyscraper will have 360 apartments and be completed in 2020.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LvSbvE July 23, 2015 at 10:52AM http://ift.tt/eA8V8J

Roger Federer is world's most marketable sports star despite Wimbledon loss

Tennis stars dominates latest top 20 power list prepared by London School of Marketing.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CPyjkh July 22, 2015 at 03:25PM http://ift.tt/eA8V8J

Toshiba sells stake in elevator maker Kone for €864.7m to bolster books

Toshiba Elevator and Building Systems sells Kone shares to institutional investors.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1g49Opj July 22, 2015 at 02:39PM http://ift.tt/eA8V8J

Gold prices remain under pressure after hitting 5-year low

Bullion is trading down 1.11% at 1,091.20 per ounce on Comex as at 6.51am GMT.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LCowPG July 22, 2015 at 12:11PM http://ift.tt/eA8V8J

Toyota delays plan to build Lexus vehicles in China

Slow growth in China's auto market and lower manufacturing costs in Japan delay Toyota's new assembly line in China.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Ii3gxV July 22, 2015 at 11:05AM http://ift.tt/eA8V8J

US telecom and antitrust regulators signal approval for $48.5bn AT&T-DirecTV deal

US Federal Communications Commission and Justice Department expected to announce their approval soon.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IjJ5Bm July 22, 2015 at 10:21AM http://ift.tt/eA8V8J

Audi, BMW and Daimler near deal to buy Nokia Here Maps for over €2.5bn

The German auto makers outbid Silicon Valley rivals and plan to create an open platform, according to WSJ.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KjTeLV July 22, 2015 at 09:49AM http://ift.tt/eA8V8J

Qualcomm likely to announce thousands of job cuts and company break-up

The company is preparing to lay off thousands of employees due to challenges in the high-end smartphone business.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JtYMAz July 21, 2015 at 03:02PM http://ift.tt/eA8V8J

Pearson said to be exploring sale of Financial Times for £1bn

Germany's Axel Springer SE as well as investors in Europe, the Middle East and Asia are expected to be potential bidders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CMDSjy July 21, 2015 at 12:02PM http://ift.tt/eA8V8J

Rolls-Royce secures £1.4bn worth of Trent 700 engine contracts

New contracts are a relief for Rolls Royce, after it cut profit outlook for third time in just over a year.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gLjFjU July 21, 2015 at 10:46AM http://ift.tt/eA8V8J

Brics-promoted New Development Bank opens in Shanghai

Bank was officially launched at last BRICS summit in Russian city of Ufa earlier in July.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HN1CAx July 21, 2015 at 10:08AM http://ift.tt/eA8V8J

Turkey targets international partners to boost defence exports to $25bn by 2023

Turkey is looking for co-production and technology transfer agreements at a conference to be held in Ankara on 10-12 November.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KfPBtc July 20, 2015 at 04:17PM http://ift.tt/eA8V8J

Gold prices plunge to 5-year low on Chinese sell-off and US rate hike hopes

Gold prices fall to as low as $1,088.05 an ounce, the weakest level since March 2010.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CRCQ5p July 20, 2015 at 03:04PM http://ift.tt/eA8V8J

Standard Chartered rejigs organisation structure to cut down regions to 4

Greater China and North Asia, ASEAN and South Asia, Africa and Middle East, and Europe and Americas are the new regions.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Ie25RY July 20, 2015 at 01:18PM http://ift.tt/eA8V8J

Shell to cut capital expenditure to adjust books for plunge in oil prices

Company expects more savings from its proposed merger with BG Group than previously disclosed.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Mf85cQ July 20, 2015 at 12:21PM http://ift.tt/eA8V8J

Online furniture retailer Made.com raises $60m for European expansion

Funding round was led by Partech Ventures and Fidelity Growth Partners.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KftG2H July 20, 2015 at 11:34AM http://ift.tt/eA8V8J

Google now valued at over $450bn after recent share rally

Google class A shares closed up 16.05% or $93.08 at $672.93, representing market capitalisation of $459.2bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Lh5fow July 18, 2015 at 01:25PM http://ift.tt/eA8V8J

Toshiba accounting scandal: Japan regulators plan to fine conglomerate

Nikkei reported that the SESC is planning to probe the company after a third-party review on the company's accounting practices.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1VdjMEG July 18, 2015 at 12:43PM http://ift.tt/eA8V8J

JPMorgan reaches $388m settlement with investors in mortgage-backed securities lawsuit

Investors claimed bank misled them into buying $10bn worth of substandard residential mortgage-backed securities.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1VdbdKa July 18, 2015 at 11:49AM http://ift.tt/eA8V8J

China state-run margin lender equipped with $483bn firepower to arrest stock market rout

China Securities Finance Corp will be financially supported by People's Bank of China and 17 big lenders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1I9IQHf July 18, 2015 at 11:02AM http://ift.tt/eA8V8J

CVS, Costco and Walmart Canada shut down online photo services due to suspected hacking attack

Companies are investigating data breach and urged customers to monitor their credit card accounts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LgHxbO July 18, 2015 at 10:16AM http://ift.tt/eA8V8J

South Korea's Posco stalls $12bn steel project in India

Project in eastern India's Odisha state hit by regulatory delays.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HUcs74 July 17, 2015 at 01:31PM http://ift.tt/eA8V8J

Google posts better-than-expected profit on ad revenue growth

Google reports profits of $3.93bn , or $6.43 per share, up 17% from the same quarter in 2014.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1I7Lduc July 17, 2015 at 12:16PM http://ift.tt/eA8V8J

Mark Carney hints possible interest rate rise 'at turn of this year'

Rate increases are expected to be gradual, and limited to a level below past averages.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1OazU4F July 17, 2015 at 12:00PM http://ift.tt/eA8V8J

Samsung C&T shareholders approve $8bn merger with Cheil Industries

Development comes as major blow to US hedge fund Elliott Associates.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M9165i July 17, 2015 at 10:52AM http://ift.tt/eA8V8J

Apple faces trademark lawsuit in Europe over iWatch term

Probendi, which owns iWatch trademark in Europe, moves Milan court.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JlUYBm July 17, 2015 at 10:35AM http://ift.tt/eA8V8J

Tata Steel axes 720 UK jobs blaming high energy costs and strong pound

Most job cuts will be at the company's steel bar-making plant in Rotherham.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1f6LYIC July 16, 2015 at 04:31PM http://ift.tt/eA8V8J

Facebook testing small e-commerce stores within social network

Company is building out shops within Facebook pages, providing businesses a chance to directly sell their products.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HzVdZt July 16, 2015 at 03:10PM http://ift.tt/eA8V8J

ADB cuts Asia growth forecast on China and US woes

ADB has cut its 2015 growth forecast for Developing Asia to 6.1% from 6.3%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1DivDGr July 16, 2015 at 01:45PM http://ift.tt/eA8V8J

Toshiba accounting scandal: Conglomerate faces over $3bn in fines

Company's improper book-keeping practices allegedly led to an overstatement in profits by more than ¥170bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LkVPXr July 16, 2015 at 12:25PM http://ift.tt/eA8V8J

IPA Bellwether report: UK firms to spend more on ads despite being less optimistic

Latest IPA Bellwether report reveals that a net balance of 12.2% of companies increased their advertising budgets in second quarter.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MbPLCt July 16, 2015 at 11:47AM http://ift.tt/eA8V8J

Singapore's Oxley buys 20% stake in London homebuilder Galliard for £50m

Galliard is London's largest privately owned residential developer and second largest house builder in the UK capital.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1I4Dlvh July 16, 2015 at 11:22AM http://ift.tt/eA8V8J

Mining giant BHP Billiton in $2.8bn US shale writedown

Most of impairment charge is related to shale gas-focused Hawkville field in South Texas.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MtsbxR July 15, 2015 at 03:29PM http://ift.tt/eA8V8J

Toshiba CEO Hisao Tanaka expected to resign over accounting scandal

More than half the board is expected to resign at company's next shareholders' meeting.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1f2o8xt July 15, 2015 at 12:38PM http://ift.tt/eA8V8J

Twitter shares surge after fake $31bn buyout offer report

US SEC is probing possible market manipulation over fake news article.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Lhr5GJ July 15, 2015 at 11:49AM http://ift.tt/eA8V8J

Yum Brands sales dip for another quarter due to persistent China woes

The company recorded total sales of $3.11bn for second quarter, down 3% from 2014.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dZYYPa July 15, 2015 at 10:45AM http://ift.tt/eA8V8J

Morgan Stanley: China slowdown raises fears of global recession

Ruchir Sharma says China is likely to be the biggest source of vulnerability for the global economy.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RxYbaE July 15, 2015 at 09:55AM http://ift.tt/eA8V8J

China records 7% growth in second quarter beating forecasts

China's NBS warns of difficult local and global economic conditions.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M4T4dy July 15, 2015 at 09:26AM http://ift.tt/eA8V8J

IBM to help breastfeeding employees ship milk back to babies

New IBM perk will allow working mothers to ship expressed breast milk to their babies while travelling for work.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CBmb6t July 14, 2015 at 01:10PM http://ift.tt/eA8V8J

China's Tsinghua Unigroup seeking to buy US chipmaker Micron Technology for $23bn

WSJ reports that Tsinghua is willing to pay $21 per share for Micron in what could be the biggest foreign deal by a Chinese company.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1O8YJys July 14, 2015 at 11:20AM http://ift.tt/eA8V8J

Facebook reaches $250bn market cap at record pace

Social network giant takes just over three years to reach at $250bn mark, beating previous record holder Google.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gyl2T4 July 14, 2015 at 10:23AM http://ift.tt/eA8V8J

Reddit: Ex CEO says co-founder Alexis Ohanian to be blamed instead of Ellen Pao for chaos

Yishan Wong alleges Ohanian had different ideas for AMA forum handled by Victoria Taylor.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HZ3hbC July 14, 2015 at 09:43AM http://ift.tt/eA8V8J

Starbucks joins hands with Microsoft, Walmart and others to create 100,000 jobs for US youth

Companies in 100,000 Opportunities Initiative include JPMorgan Chase and Taco Bell.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RtryuO July 13, 2015 at 02:27PM http://ift.tt/eA8V8J

US consumer goods major Jarden close to acquiring Waddington Group in $1.35bn deal

Jarden has agreed on terms with Olympus Partners, private equity owner of Waddington.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1gwwzSV July 13, 2015 at 11:26AM http://ift.tt/eA8V8J

Over 200 apartments in Canary Wharf residential tower sold in less than 5 hours

Flats attracted record price per square foot of £1,200, generating £140m for developers.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K33SGL July 13, 2015 at 10:49AM http://ift.tt/eA8V8J

Greece tour becomes cheap as holidaymakers grow wary of crisis-hit country

Hotels and airlines slash rates as debt crisis hits Greek tourism.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NZzpKo July 13, 2015 at 10:16AM http://ift.tt/eA8V8J

170,000 birds culled in Lancaster poultry farm on avian flu suspicion

Defra imposes 'temporary control zone' within farm in Goosnargh, Preston, as precautionary measure.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K05c07 July 13, 2015 at 09:05AM http://ift.tt/eA8V8J

Business Secretary wants foreign students to leave UK once they complete studies

Ministers plan to tighten rules for non-EU students who may be forced to leave after studies and apply for a separate visa to work in the UK.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M1lAO5 July 11, 2015 at 12:46PM http://ift.tt/eA8V8J

Libor rigging scandal: US probing former Deutsche Bank traders

US Justice Department is preparing cases against them and could bring charges before end of 2015.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HlHurj July 11, 2015 at 11:58AM http://ift.tt/eA8V8J

Bottom of oil market 'may still be ahead', says IEA

Demand would decline in 2016 while supply from Opec producers projected to remain at high levels.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CuWPag July 11, 2015 at 11:02AM http://ift.tt/eA8V8J

Alibaba top executive Patrick Liu Chunning arrested on graft charges during tenure at Tencent

Alibaba confirms Liu Chunning's arrest on its Weibo account.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LZCLzD July 10, 2015 at 04:04PM http://ift.tt/eA8V8J

South Korean pension fund's vote crucial to decide Samsung merger

South Korea's National Pension Service is largest shareholder in Samsung C&T with 11.2% stake.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1D4MqMZ July 10, 2015 at 01:27PM http://ift.tt/eA8V8J

Cisco to invest $1bn in UK technology sector

Cisco CEO John Chambers makes announcement at meeting with PM David Cameron.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J7L9Hj July 10, 2015 at 12:07PM http://ift.tt/eA8V8J

Former Kremlin banker Sergei Pugachev flees UK for France claiming murder attempts

Pugachev has been accused of stealing more than £655m from Russia's Mezhprombank.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1grpUJw July 10, 2015 at 11:27AM http://ift.tt/eA8V8J

Apple shares plummet on China slowdown fears

Analysts say iPhone sales could take a hit in China.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UHERqx July 10, 2015 at 09:27AM http://ift.tt/eA8V8J

Facebook reportedly preparing to launch music-streaming service

Company's plans to monetise music videos emerged as important stepping stone towards on-demand audio service, reports Music Ally.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1TnvYRF July 09, 2015 at 04:17PM http://ift.tt/eA8V8J

Email about ExxonMobil reveals how energy companies disregard climate change in pursuit of profits

ExxonMobil knew about impact of oil and gas exploration on climate as early as 1981, but paid no attention to the fact, says email.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UDiLW9 July 09, 2015 at 12:31PM http://ift.tt/eA8V8J

Russia's Rosneft to buy 49% of Essar's refinery in India

Rosneft also signed a deal to supply 10 million tonnes of oil per year to the Indian refinery over 10 years.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KVPkdt July 09, 2015 at 11:07AM http://ift.tt/eA8V8J

Reddit moderators shut down website in anger

Brian Lynch and Courtnie Swearingen say they were angered by abrupt termination of their coordinator, Victoria Taylor.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1TmWY3y July 09, 2015 at 10:22AM http://ift.tt/eA8V8J

Apple to produce record number of next iPhones despite minimal change in specs

Company has ordered as many as 90 million units to be manufactured, WSJ reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NPPoKZ July 09, 2015 at 09:21AM http://ift.tt/eA8V8J

Heineken now owns controlling stake in Vijay Mallya's United Breweries

Heineken has acquired a 3.21% stake in UB from United Spirits, which has exited the group, for Rs 8.72bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CZS570 July 08, 2015 at 12:09PM http://ift.tt/eA8V8J

Symantec in talks to sell Veritas data storage business to Carlyle Group

Symantec trying to sell Veritas, which it bought in 2005 for more than $13bn, due to low revenue growth.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UyXZap July 08, 2015 at 10:48AM http://ift.tt/eA8V8J

Facebook's Sheryl Sandberg joins SurveyMonkey board

Sandberg's late husband David Goldberg had been serving as SurveyMonkey CEO.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KMuUFc July 08, 2015 at 10:12AM http://ift.tt/eA8V8J

Viagra, erectile dysfunction prescriptions rise in UK as generic versions slash prices

In 2014, there were 1.7 million prescriptions for sildenafil as prices plunged 86%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MdhwHE July 08, 2015 at 09:47AM http://ift.tt/eA8V8J

UK online spending more than triples over last 5 years

More than one pound in every four spent on Visa card is now spent online, says Visa Europe.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NObmyH July 07, 2015 at 03:53PM http://ift.tt/eA8V8J

More than 200 Chinese companies halt trading as market sell-off continues

Securities Times reports that 760 major companies on Shanghai and Shenzhen Stock Exchanges had suspended trading in past week.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CjRqm4 July 07, 2015 at 02:54PM http://ift.tt/eA8V8J

Samsung C&T wins another court ruling to proceed with $8bn Cheil Industries deal

US hedge fund Elliott Associates fails to block Samsung C&T from selling treasury shares to KCC.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1UuT36n July 07, 2015 at 01:01PM http://ift.tt/eA8V8J

Apple and Google vying for car connectivity revenues projected at €180bn by 2020

Technology companies and automotive giants are working on transforming cars into full-service mobile devices.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NNFkTr July 07, 2015 at 11:46AM http://ift.tt/eA8V8J

German media majors ProSiebenSat.1 and Axel Springer in merger talks

Combined entity is expected to have market capitalisation of about €14.4bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M9IUX2 July 07, 2015 at 10:19AM http://ift.tt/eA8V8J

Shares plunge after Rolls-Royce cuts profit forecast again

Engineering major blamed deterioration in the offshore marine business for its revised outlook.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dGXtp9 July 06, 2015 at 01:56PM http://ift.tt/eA8V8J

Thousands of holidaymakers in misery as easyJet braces for first strike action in airline's history

EasyJet is facing strike by its cabin crew as negotiations over pay fall apart.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1H9An53 July 06, 2015 at 11:35AM http://ift.tt/eA8V8J

Osborne to slash benefit cap and remove housing subsidies as part of £12bn welfare cuts

Welfare cuts are part of Chancellor's strategy to balance budget.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M5UVgb July 06, 2015 at 10:29AM http://ift.tt/eA8V8J

China bucks trend as other Asian markets fall on Grexit fears after 'No' vote to austerity

Australia's S&P/ASX, Japan's Nikkei and Hong Kong's Hang Seng all decline.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ffxo29 July 06, 2015 at 09:10AM http://ift.tt/eA8V8J

UBS signs whistleblower deal with Brazil to avoid punishments in Forex rigging case

British banks RBS, Barclays, Standard Chartered and HSBC have been named in investigation.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GVWbyW July 04, 2015 at 01:46PM http://ift.tt/eA8V8J

Greeks buy more bitcoins fearing Grexit and conversion into devalued drachmas

New customers depositing with bitcoin exchange BTCGreece rose by 400% between May and June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GVM9xz July 04, 2015 at 12:22PM http://ift.tt/eA8V8J

US Independence Day 2015: Retail industry to get $6.6bn boost

US households are expected to spend an average of $72.23 on food items.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LNMTeJ July 04, 2015 at 11:38AM http://ift.tt/eA8V8J

Protein World's 'Are you beach body ready' advertising campaign faces backlash in New York

The campaign was widely criticised in the UK for "objectifying women".

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ND7S1g July 04, 2015 at 10:59AM http://ift.tt/eA8V8J

US hedge fund Elliott to appeal Korean court ruling on merger of Samsung affiliates

Elliott said it would continue its efforts to prevent a takeover of Samsung C&T by Cheil Industries.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NB19VH July 03, 2015 at 01:05PM http://ift.tt/eA8V8J

Mers outbreak: South Korea to inject $20bn into economy to sustain growth

The country earlier cut its economic growth forecast for 2015 to 3.1% primarily due to Mers outbreak.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JBBCh8 July 03, 2015 at 12:11PM http://ift.tt/eA8V8J

US health insurer Aetna and Humana reportedly near $34bn merger deal

Deal will give Aetna a bigger slice of the growing Medicare market.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ge5K5I July 03, 2015 at 11:13AM http://ift.tt/eA8V8J

Lloyds share sale: Treasury cuts down stake in bank, has raised £12.5bn so far

Government had acquired 41% stake in Lloyd's business in 2008 shelling out some £20bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1NBvRyC July 03, 2015 at 10:01AM http://ift.tt/eA8V8J

RBS could take $13bn hit in US mortgage-backed securities case

The case arose from the bank's sale of residential mortgage-backed securities worth $32b from 2005 to 2007.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eobbxC July 03, 2015 at 09:44AM http://ift.tt/eA8V8J

General Electric will vigorously defend Electrolux's acquisition of GE Appliances

US Justice Department had earlier filed a lawsuit to block the acquisition, citing antitrust matters.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HyViBQ July 02, 2015 at 01:40PM http://ift.tt/eA8V8J

Walton family are richest in the US with $149bn net worth – Forbes

Fortune of the six heirs of Wal-Mart founders Sam Walton and James "Bud" Walton declined from $152bn in 2014.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1f3VKM5 July 02, 2015 at 12:27PM http://ift.tt/eA8V8J

FSA gives clearance to Nestle Maggi noodles banned in India

Nestle India exports Maggi noodles to countries including UK, US, Canada and Singapore.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GPBtj0 July 02, 2015 at 10:51AM http://ift.tt/eA8V8J

Hewlett-Packard on track to complete split in fiscal year 2015

Corporate hardware and services will operate as a separate company to be called Hewlett Packard Enterprise.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dzrTcN July 02, 2015 at 10:19AM http://ift.tt/eA8V8J

Swiss insurer ACE to acquire US peer Chubb for $28.3bn

The combined company will have assets of over $150bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IPM4Mc July 02, 2015 at 09:43AM http://ift.tt/eA8V8J

Korean court rules in favour of Samsung affiliate in legal battle with US hedge fund Elliott Associates

Court clears shareholder meeting over Samsung C&T and Cheil Industries merger.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1R3qg9A July 01, 2015 at 10:38AM http://ift.tt/eA8V8J

BBC likely to cut hundreds of jobs in latest round

BBC is facing £150m-a-year shortfall in funding due to unpaid licence fees.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FPWlGb July 01, 2015 at 09:57AM http://ift.tt/eA8V8J

Nike chairman and co-founder Phil Knight to step down from sportswear firm in 2016

Knight wants Mark Parker, who has been serving as company's CEO since 2006, to succeed him.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LBV5xx July 01, 2015 at 09:08AM http://ift.tt/eA8V8J

Oil prices fall after Greece defaults on IMF loan

WTI crude for delivery in August fell 1.19% at $58.76 per barrel, while Brent crude was trading down 0.83% at $63.06.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eZqvlc July 01, 2015 at 08:18AM http://ift.tt/eA8V8J

Indian court allows Nestle to export controversial Maggi noodles

The company said in a court statement that it had recalled 110 billion packets of Maggi and destroyed 117 billion packets.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Ipy3ZO June 30, 2015 at 02:33PM http://ift.tt/eA8V8J

'The devil made me gamble,' says Swiss tycoon who lost £2m at London casino

Ritz Club in Mayfair is suing Safa Abdulla Al-Geabury for his £2m bounced cheque.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eXfHnO June 30, 2015 at 01:29PM http://ift.tt/eA8V8J

Libor rigging scandal: Germany launches new probe into Deutsche Bank after BaFin report

Prosecutors are examining the role played by individuals connected to Deutsche Bank in the scandal.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eX3gZd June 30, 2015 at 11:51AM http://ift.tt/eA8V8J

Geneva hotels rated most expensive to dine in; London ranks fifth costliest for full-day meal

Geneva has emerged as the priciest city to eat in hotels, with a club sandwich costing $30.59 and a full-day meal $86.71.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1du0w3N June 30, 2015 at 11:27AM http://ift.tt/eA8V8J

UK consumer confidence rises to levels not seen since 'late nineties or early noughties'

GfK/KPMG consumer confidence index rises 6 points to 7 in June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KqfAxU June 30, 2015 at 10:01AM http://ift.tt/eA8V8J

Heathrow named best airport in Europe as Terminal 1 shuts after 47 years of service

The London airport was also handed the Eco-Innovation Award, taking into account its pro-environment measures.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Kk0KHL June 29, 2015 at 04:33PM http://ift.tt/eA8V8J

AIIB: China takes 30% stake as 50 members sign articles of agreement

China will contribute $29.78bn of the bank's $100bn capital base, becoming the largest shareholder with a 30.34% stake.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1g0W8v9 June 29, 2015 at 11:51AM http://ift.tt/eA8V8J

Greek debt crisis: Asian markets rattled as Greece closes banks ahead of referendum

Nikkei, Hang Seng, Shanghai Composite, S&P/ASX and BSE Sensex all plunge.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1C0stvW June 29, 2015 at 10:55AM http://ift.tt/eA8V8J

Chinese banks grab top ranks as HSBC goes out of Banker magazine's top 5 list

ICBC, Wells Fargo, JPMorgan and Bank of America on list.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1g0FWtM June 29, 2015 at 10:01AM http://ift.tt/eA8V8J

New York Fed chief: September rate hike highly likely amid better data

William Dudley cites wage gains, improving incomes, and growing household spending among reasons for rate hike.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1drEE92 June 29, 2015 at 09:13AM http://ift.tt/eA8V8J

Raghuram Rajan: Global economy may be heading towards another Great Depression

Rajan, known for his prediction of the 2008 financial crisis, has been against unconventional monetary policies of US Fed and ECB.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GzR1bA June 27, 2015 at 01:07PM http://ift.tt/eA8V8J

Libor rigging scandal: German regulator alleges negligence by Deutsche executives

Bank's outgoing co-CEO Anshu Jain may have "knowingly made inaccurate statements" to Germany's Bundesbank during 2012 interview, says regulator BaFin.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HlQa1T June 27, 2015 at 10:36AM http://ift.tt/eA8V8J

GE's $200bn asset sales: Canada's Element Financial to buy bulk of $9bn vehicle fleet-management business

GE's vehicle fleet-management business helps finance and manage vehicles of companies.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LM5xk5 June 27, 2015 at 09:58AM http://ift.tt/eA8V8J

Nepal earthquake: No IMF aid under catastrophe containment fund

Earthquake did not cause enough economic damage for Nepal to be eligible for funding, says IMF.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1eLk7Ox June 26, 2015 at 02:35PM http://ift.tt/eA8V8J

Facebook diversity data: Social media adds just 1% more women as total headcount rises by 40%

US jobs are dominated by whites and Asians, according to latest diversity report.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Kf2W35 June 26, 2015 at 12:47PM http://ift.tt/eA8V8J

Nestle plans alternative snack in India in place of banned Maggi noodles

New product is expected to be in the form of ready-to-eat or ready-to-cook food, the Economic Times reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FE3k4Y June 26, 2015 at 11:21AM http://ift.tt/eA8V8J

Government has not decided to replace BBC Trust with Ofcom - Report

Forthcoming green paper on BBC is likely to call for abolition of BBC Trust without backing alternative regulator, Guardian reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Jn4rOl June 26, 2015 at 10:47AM http://ift.tt/eA8V8J

Canada's Valeant looks to buy world's largest animal health firm Zoetis

Valeant has made a preliminary approach for the US-based company, WSJ reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GBaaca June 26, 2015 at 10:00AM http://ift.tt/eA8V8J

GE's health-care finance unit likely to fetch more than $11bn as Capital One and Apollo Global submit bids

GE is looking to sell most of its GE Capital assets over the next 18 months.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CxKdJY June 26, 2015 at 09:14AM http://ift.tt/eA8V8J

Ikea plans high-street presence with smaller stores

Company will test small-format stores, dubbed 'order and collection points', starting in Norwich in autumn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GscH9z June 25, 2015 at 01:25PM http://ift.tt/eA8V8J

Nepal earthquake: Monetary assistance pouring in as Nepal seeks $6.6bn for reconstruction

World leaders offer billions of dollars for Nepal's rebuilding as International Conference on Nepal's Reconstruction is being held in Kathmandu.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GsaD19 June 25, 2015 at 01:08PM http://ift.tt/eA8V8J

Digital-only challenger bank Atom secures licence from Bank of England

Bank intends to offer a range of personal and business banking products and services via mobile apps initially.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J71Bdo June 25, 2015 at 11:15AM http://ift.tt/eA8V8J

MERS outbreak: South Korea cuts growth forecast to 3.1% and announces fiscal stimulus package

Viral illness is expected to severely affect key tourism sector and consumer spending.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IzXpju June 25, 2015 at 10:15AM http://ift.tt/eA8V8J

Kweku Adoboli, rogue trader behind UBS' £1.5bn loss, released early from prison

He spent almost nine months in jail before his conviction and seven-year jail sentence in November 2012.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Jkdi3d June 25, 2015 at 09:40AM http://ift.tt/eA8V8J

China to recall infant formula made by three Shaanxi firms

Excessive nitrate and selenium levels found in tested samples.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J4hPE2 June 24, 2015 at 01:22PM http://ift.tt/eA8V8J

Spanish billionaire Amancio Ortega enjoys $2.3bn single-day boost to net worth

Ortega's single-day gain was $500m more than the combined increase recorded by the world's 10 richest people.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CrZHiq June 24, 2015 at 12:38PM http://ift.tt/eA8V8J

Australia to contribute A$930m to China-led AIIB to become 6th largest shareholder

Australian businesses will be able to take advantage of the growth in infrastructure in Asia via AIIB membership.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Idikgy June 24, 2015 at 12:12PM http://ift.tt/eA8V8J

Ramadan: Sundown meals boosting UK supermarket sales by £100m

Meat, rice and fruit have emerged as big sellers during Ramadan season.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KbNk24 June 24, 2015 at 11:14AM http://ift.tt/eA8V8J

Wal-Mart to charge vendors for using US stores and warehouses

Changes in company's supplier agreements are expected to affect 10,000 suppliers to US stores.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1TN3G3Y June 24, 2015 at 10:25AM http://ift.tt/eA8V8J

American Apparel discloses details of former CEO Dov Charney's 'sexual misconduct'

In court papers, company also accused Charney of exchanging pornographic emails and texts at work.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QP6fUm June 24, 2015 at 09:58AM http://ift.tt/eA8V8J

Western sanctions encouraging Russia to build 'independent financial structure'

European Union extends economic sanctions on Russia for the "destabilising role" it played in Ukraine, for another six months.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HaULnM June 23, 2015 at 05:19PM http://ift.tt/eA8V8J

Treasury reduces Lloyds stake to below 17%

So far, the government has recovered £11.5bn from sale of Lloyds shares in various phases.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K7T8bd June 23, 2015 at 01:25PM http://ift.tt/eA8V8J

Japan and China factory activity contracts shows PMI

HSBC flash China manufacturing PMI improved to 49.6 in June from 49.2 in May, while flash Japan PMI plunged to 49.9 from 50.9.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1H9AhvA June 23, 2015 at 11:45AM http://ift.tt/eA8V8J

Ladbrokes and Coral in merger talks to create mega entity

Ladbrokes plans merger of Ladbrokes and Coral Retail, Eurobet Retail and Gala Coral's Online businesses.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J1pvXJ June 23, 2015 at 10:51AM http://ift.tt/eA8V8J

WhatsApp and AT&T do least to protect users' privacy - Study

Adobe, Apple, CREDO, Dropbox, Sonic, Wickr, Wikimedia, Wordpress and Yahoo get five stars.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CpRMCb June 23, 2015 at 10:12AM http://ift.tt/eA8V8J

Russia's Gazprom looks to benefit from Shell's BG Group acquisition

Gazprom would be able to penetrate newer markets under its global strategic alliance with Royal Dutch Shell.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1J7Afql June 19, 2015 at 03:35PM http://ift.tt/eA8V8J

Google confirms 2014 acquisition of app streaming start-up Agawi

Agawi has developed a technology that allows people to access apps on their smartphones without downloading them first.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CgzDGT June 19, 2015 at 01:11PM http://ift.tt/eA8V8J

India's Supreme Court orders release of Sahara boss Subrata Roy subject to $1.6bn payment

Roy will not be released until Sahara pays Rs 100bn in cash and bank guarantee.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GlxTgo June 19, 2015 at 12:46PM http://ift.tt/eA8V8J

US diplomats to abandon Chinese-owned Waldorf Astoria hotel due to alleged snooping concerns

Hotel is now under ownership of Beijing-based Anbang Insurance Group, and US is suspicious about its planned renovation.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CgsHcT June 19, 2015 at 11:50AM http://ift.tt/eA8V8J

JPMorgan vice chairman Jimmy Lee passes away

Lee was one of JPMorgan's most important dealmakers, and he led its investment banking arm.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Fo9dD4 June 18, 2015 at 02:44PM http://ift.tt/eA8V8J

UK has most number of $1bn-plus tech start-ups in Europe

UK currently has 17 tech start-ups, known as 'unicorns', while Europe has a total of 40 start-ups, a research by GP Bullhound says.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RbENLb June 18, 2015 at 01:20PM http://ift.tt/eA8V8J

Angola's Luanda costliest city for expatriates; London ranked No. 12

Hong Kong is number two, followed by Zurich, Singapore and Geneva, according to Mercer's latest Cost of Living survey.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FnTdkv June 18, 2015 at 12:03PM http://ift.tt/eA8V8J

Elliott Associates: Samsung Group must pay fair value to Samsung C&T shareholders

Elliott continues to view terms of proposed takeover as unfair, unlawful and significantly damaging to interests of Samsung C&T's shareholders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1CeAKqN June 18, 2015 at 09:27AM http://ift.tt/eA8V8J

China and Australia ink landmark Free Trade Agreement

The deal now has to be approved by parliaments of both nations for it to come into effect.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1R8Aj80 June 17, 2015 at 05:36PM http://ift.tt/eA8V8J

US clears £47bn mega merger between Shell and BG Group

The proposed merger has cleared its first antitrust hurdle by receiving early termination of the US antitrust waiting period.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1GN9Jjw June 17, 2015 at 12:39PM http://ift.tt/eA8V8J

Asia to overtake North America in private financial wealth by 2016

Asia's private wealth soared 29% to $47tn in 2014, according to a Boston Consulting Group report.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QDfgQ4 June 17, 2015 at 12:27PM http://ift.tt/eA8V8J

Nestle to cut 15% workforce in Africa amid disappointing middle-class growth

Company says it overestimated rise of the middle class in Africa.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Lg9ptj June 17, 2015 at 11:18AM http://ift.tt/eA8V8J

MERS outbreak: South Korea to boost spending by up to $22bn as death toll rises to 19

Economists say the Korean government may announce a supplementary budget due to a "more worrisome" economic situation.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FYXvk3 June 16, 2015 at 01:05PM http://ift.tt/eA8V8J

China and Australia to formalise FTA on 17 June

Australia's Trade Minister Andrew Robb and China's Commerce Minister Gao Hucheng will formalise the China-Australia Free Trade Agreement in Canberra on 17 June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Lcppj1 June 16, 2015 at 12:36PM http://ift.tt/eA8V8J

Jamaica among governments vying for HSBC's possible new headquarters

Jamaica has contacted HSBC to lure the bank into shifting its headquarters to the island state, Sky News reported.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FYTKLj June 16, 2015 at 12:32PM http://ift.tt/eA8V8J

Calvin Klein owner Coty to buy 3 Procter & Gamble businesses for $12bn

The company has won auctions to purchase P&G's hair-care, fragrance and cosmetics businesses, expanding its product portfolio.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KUAbJI June 16, 2015 at 10:35AM http://ift.tt/eA8V8J

Former PetroChina vice-chairman Liao Yongyuan faces prosecution after graft investigation by Communist Party

Liao has been accused of taking "enormous" bribes and abusing his position to help with job promotions.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JSRnyo June 15, 2015 at 02:37PM http://ift.tt/eA8V8J

Dragon Oil shares up 8% after board agrees to sweetened takeover offer from UAE's Enoc

Dragon Oil shareholders will receive £7.50 per share in cash, valuing the company at £3.7bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QZJXdd June 15, 2015 at 02:11PM http://ift.tt/eA8V8J

Alibaba to enter China's high-growth video streaming market with TBO

The company is planning to launch video streaming services in China in the next two months, as it looks to emulate Netflix and HBO in US.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1MVCLOF June 15, 2015 at 01:07PM http://ift.tt/eA8V8J

Prince Alwaleed bin Talal does not want Jack Dorsey to remain Twitter boss

Saudi billionaire Prince Alwaleed is one of Twitter's earliest and biggest shareholders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1fbJucf June 15, 2015 at 12:18PM http://ift.tt/eA8V8J

Local investors in Korea back Elliott Associates move to block merger of Samsung affiliates

Investors' backing of Elliott comes in contrast to Koreans' hostility towards foreign investors, whom they portray as "money-hungry opportunists".

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SgKZ76 June 15, 2015 at 11:20AM http://ift.tt/eA8V8J

Nestle Maggi noodles: Indian court refuses to lift ban

India's food regulators asked to submit written explanation for ban.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1G0zUi0 June 13, 2015 at 02:20PM http://ift.tt/eA8V8J

US probes Nike's 1996 sponsorship of Brazilian football team for possible corruption

Probe is part of US Justice Department's wide-ranging investigation into corruption in global football business.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QUrIGa June 13, 2015 at 12:21PM http://ift.tt/eA8V8J

Research: 30% of US shoppers already using mobile wallets, forcing retailers to adopt new technology

Around 64% of consumers surveyed say that they would rather shop at retailers that provide mobile payment option.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FO8XPt June 12, 2015 at 04:08PM http://ift.tt/eA8V8J

Zimbabwe to give $1 for Z$35 quadrillion in exchange rate as nation phases out local currency

Country has already been using US dollars and South African rand, as local currency suffered due to hyperinflation that hit the economy six years ago.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QsZ3gq June 12, 2015 at 01:57PM http://ift.tt/eA8V8J

Zimbabwe to give $1 for Z$35 quadrillion in exchange rate as nation phases out local currency

Country has already been using US dollars and South African rand, as local currency suffered due to hyperinflation that hit the economy six years ago.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QsZ3gq June 12, 2015 at 01:57PM http://ift.tt/eA8V8J

Oil industry has become hackers' favourite because of potential to create blackouts or spills

Misuse of physical equipment by hackers could emerge as major threat for oil industry worldwide.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1L1PU7C June 12, 2015 at 12:25PM http://ift.tt/eA8V8J

MERS outbreak expected to hit South Korea's tourism and banking sectors

Tourism could be affected as Hong Kong, Macau and Taiwan issue alerts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1I8eeBI June 12, 2015 at 11:51AM http://ift.tt/eA8V8J

World Bank slashes global economic growth forecast over woes in emerging markets

Developing countries are now projected to grow by 4.4% in 2015, down from the previous projection of 4.8%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1e4Tjby June 11, 2015 at 01:54PM http://ift.tt/eA8V8J

Nike signs $1bn deal with NBA to provide uniforms

Nike will become first NBA apparel partner to have its logo appear on NBA uniforms.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FTRnbS June 11, 2015 at 08:03AM http://ift.tt/eA8V8J

Fx fixing scandal: Citigroup paid $2.5bn in fines for rigging currency rates as bank made just $1m from misconduct

Bank's fine was 2,500 times more than what it made from FX rigging.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1B45UGi June 11, 2015 at 07:17AM http://ift.tt/eA8V8J

US hedge fund Elliott seeks to block Samsung C&T's treasury share sale to Cheil Industries affiliate

Merger seen as Samsung family bid to ensure control of group.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dy8PvO June 11, 2015 at 05:55AM http://ift.tt/eA8V8J

26 African nations to sign continent's largest free-trade agreement

Treaty, known as Tripartite Free Trade Area (TFTA), will be officially unveiled at upcoming summit of African Union this weekend in South Africa.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1QLnel5 June 10, 2015 at 04:40PM http://ift.tt/eA8V8J

Norway most expensive nation to buy petrol as UK ranks 7th

In Norway, petrol prices are 26% higher than that in the UK, where price per litre is £1.21.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1cL8QMg June 10, 2015 at 01:25PM http://ift.tt/eA8V8J

Facebook generates more than half of ad revenues overseas

Overseas markets accounted for 51% of company's global ad sales in the first quarter.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KoCowS June 10, 2015 at 12:24PM http://ift.tt/eA8V8J

GE to sell private-equity-lending unit to Canadian pension fund for $12bn

GE Capital has so far announced sales of more than $55bn and is moving towards disposition of $100bn by end of 2015.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JEjgvG June 10, 2015 at 11:49AM http://ift.tt/eA8V8J

Oil prices up 2% after lower production estimates from US

Shale oil boom in US is expected to come to halt amid oil price cartel Opec's unchanged production target.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1S13Oeh June 09, 2015 at 05:29PM http://ift.tt/eA8V8J

HSBC set to announce thousands of job cuts in Stuart Gulliver's strategic plan

Revamp plan includes sale of businesses in Brazil and Turkey.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ds5e2g June 09, 2015 at 10:13AM http://ift.tt/eA8V8J

Samsung: US hedge fund Elliott launches legal action to block merger of affiliates

Merger pertains to construction company Samsung C&T and Cheil Industries.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JAQA6P June 09, 2015 at 09:49AM http://ift.tt/eA8V8J

Britain's Reuben Brothers reaches $900m deal with Subrata Roy to save embattled Sahara Group

Reuben Brothers agreed to refinance the $900m loan taken by Indian conglomerate Sahara Group from Bank of China.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JCtgE1 June 08, 2015 at 03:38PM http://ift.tt/eA8V8J

Spain's Amancio Ortega overtakes Warren Buffett as world's second richest

Spanish billionaire has net worth of $69.8bn as of 5 June, slightly higher than Buffett's $69.2bn fortune.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BTKPZZ June 08, 2015 at 02:02PM http://ift.tt/eA8V8J

China begins big week of economic data with weak trade results

China is due to release its inflation figures on 9 June, while data on retail sales, industrial production and fixed asset investment are slated to come on 11 June.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BTHnyA June 08, 2015 at 01:14PM http://ift.tt/eA8V8J

Oil prices down amid oversupply fears from Iran, as Opec decides to maintain production goal

WTI crude fell 0.83% to $58.64 per barrel, while Brent crude for July fell 0.68% to $62.88 as at 1.10am ET.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1G5QjVw June 08, 2015 at 11:56AM http://ift.tt/eA8V8J

John Cryan to be sole head of Deutsche Bank as co-CEOs resign following Libor scandal

Anshu Jain and Juergen Fitschen quit following investors' protest.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1AW3zgB June 08, 2015 at 11:11AM http://ift.tt/eA8V8J

CBI cuts UK growth forecast amid uncertainty over EU referendum and Greek crisis

CBI expects economy to grow at 2.4% in 2015 and 2.5% in 2016, compared to 2.7% and 2.6% forecast earlier.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IoB9LG June 08, 2015 at 10:09AM http://ift.tt/eA8V8J

Forex market: 6 factors that influence exchange rates

Change in currency value mainly depends on demand and supply, as in case of anything else.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IjTQ37 June 06, 2015 at 04:37PM http://ift.tt/eA8V8J

Apple App Store growing by over 1,000 apps per day

In May, there were 40,037 app submissions on App Store, while applications for games totalled 13,905.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ARb20i June 06, 2015 at 03:47PM http://ift.tt/eA8V8J

Nestle hires US public relations specialist APCO Worldwide to handle Maggi crisis

APCO's clients in India include Dow Corning, Walt Disney, Mastercard, Cairn, Welspun and Facebook.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Jy0Gnb June 06, 2015 at 01:05PM http://ift.tt/eA8V8J

China accounted for 25% of global industrial robot purchases in 2014

Sales of industrial robots in China hit 57,000 in 2014, marking year-on-year increase of 55% and quarter of global sales.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KT4XDC June 06, 2015 at 12:03PM http://ift.tt/eA8V8J

IMF agrees $833m loan for Iraq amid Isis conflict and lower oil prices

Agreement expected to be submitted to IMF executive board for consideration.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1cDiVKY June 06, 2015 at 11:26AM http://ift.tt/eA8V8J

Nestle continues to defend Maggi noodles amid pullout from India market

Nestle's global CEO Paul Bulcke says company wants recalled Maggi noodles back on shelves as soon as possible.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JvMmMc June 05, 2015 at 04:11PM http://ift.tt/eA8V8J

India asks for oil price concessions from Opec

With its ever-increasing oil demand, India is expected to become prime customer for Opec members.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FYKZDi June 05, 2015 at 01:22PM http://ift.tt/eA8V8J

Apple Pay: Two-thirds of top US retailers not to accept mobile payment service in 2015

Insufficient customer demand, lack of access to data generated in Apple Pay transactions and cost of technology are discouraging retailers.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RO9atx June 05, 2015 at 12:05PM http://ift.tt/eA8V8J

Fifa in Crisis: Corruption scandal highlights 'complicity' of global banking system

Financial reform organisation Jubilee USA Network says corruption is aided by US banks.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ARe6cv June 05, 2015 at 11:29AM http://ift.tt/eA8V8J

US SEC probes activist investors for possible secret collaboration to target firms

SEC's enforcement division has recently opened multiple investigations and sent requests for information to number of hedge funds.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1RO1nfg June 05, 2015 at 10:37AM http://ift.tt/eA8V8J

US hedge fund Elliott Associates criticises $8bn merger of Samsung affiliates

Samsung C&T's proposed merger with Cheil Industries is widely seen as owning family's attempt to consolidate conglomerate's control.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BLvvhP June 04, 2015 at 01:15PM http://ift.tt/eA8V8J

Yahoo wins exclusive rights to stream live 25 October NFL game in London

Game between Buffalo Bills and Jacksonville Jaguars will be available in Web browser, within Yahoo app on mobile phone, or on television equipped for streaming video.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KbfyZo June 04, 2015 at 11:59AM http://ift.tt/eA8V8J

Japan's Rakuten to raise $1.5bn via share sale aiming to become 'world's No. 1 internet services company'

Rakuten shares plunged more than 6% after news of shareholding dilution.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HLu8St June 04, 2015 at 11:17AM http://ift.tt/eA8V8J

Dish Network and T-Mobile US in multi-billion-dollar merger talks

Parties are yet to agree on purchase price and mix of cash and stock that would be used to pay for deal.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KFD5zM June 04, 2015 at 10:40AM http://ift.tt/eA8V8J

Nestle India shares plunge 10% amid food safety woes over Maggi noodles

Maggi noodles contribute more than 20% of Nestle's revenues in India, according to analysts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K8Q6DL June 03, 2015 at 12:35PM http://ift.tt/eA8V8J

US think tank: More than half of Britons want to stay in EU

Pew Research Center survey shows 55% of Britons want to remain in the EU, while 36% want to leave.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dL1HNd June 03, 2015 at 11:55AM http://ift.tt/eA8V8J

HSBC Swiss leaks: Belgium to recover €540m in unpaid tax from account holders under probe

Affected people include diamond merchants, lawyers, aristocrats, company heads and sports personalities.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JjIKOO June 03, 2015 at 11:00AM http://ift.tt/eA8V8J

Teva to further increase stake in Mylan ahead of possible tender offer

Teva's acquisition of more stake in Mylan could pose legal challenge to generics drugmaker, Reuters reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JoUoq6 June 03, 2015 at 10:46AM http://ift.tt/eA8V8J

China's Alibaba opens office in Russia

Alibaba is already present in Russia via its online store AliExpress.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M08X2x June 02, 2015 at 04:40PM http://ift.tt/eA8V8J

Chinese travel site Qunar raises $500m from investors led by Silver Lake

Silver Lake invests $330m in Qunar's convertible bonds and another undisclosed investor puts in $170m.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HI6dDx June 02, 2015 at 03:25PM http://ift.tt/eA8V8J

HSBC expected to announce 10,000-20,000 job cuts next week

Stuart Gulliver, HSBC's chief executive, will set out revised target for headcount reductions.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BFx3tZ June 02, 2015 at 10:33AM http://ift.tt/eA8V8J

IMF: Oil price decline has limited effect on Saudi Arabian economy

Increase in oil production and continued government spending will help support country, says IMF.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1M65vE4 June 02, 2015 at 09:46AM http://ift.tt/eA8V8J

China and South Korea sign FTA allowing preferential tariffs for products from Kaesong industrial park

FTA allows preferential tariffs for 310 products manufactured in industrial park located in North Korea's border town of Kaesong.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ct9uOk June 01, 2015 at 03:44PM http://ift.tt/eA8V8J

Citigroup likely to shut down Banamex USA over weak money laundering controls

Banamex USA has been accused of its weak money laundering controls and is facing number of probes.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ENjqbS June 01, 2015 at 02:50PM http://ift.tt/eA8V8J

Nestle India faces criminal complaint over high lead levels in Maggi two-minute noodles

Food-safety officials registered complaint against Nestle India, while Uttarakhand Food Safety Department initiated probe.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1dG2wai June 01, 2015 at 12:57PM http://ift.tt/eA8V8J

China manufacturing sector contracts on weak output, but Japan expands on improved operating conditions

HSBC China manufacturing PMI rose to 49.2 in May from 48.9 in April, while Japan PMI surged to 50.9 in May from 49.9.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FkM7xE June 01, 2015 at 11:57AM http://ift.tt/eA8V8J

Intel to announce $17bn offer for Altera as semiconductor sector consolidates

Intel is offering $54 per Altera share, representing 56% premium to stock price before deal was reported.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1PYp5HX June 01, 2015 at 11:27AM http://ift.tt/eA8V8J

Morrisons board to be grilled by shareholders over £1m bonus to sacked CEO Dalton Philips

Sources told Sky News that they expected around 20% of votes to be cast against company's pay report.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1K0nug8 May 30, 2015 at 01:28PM http://ift.tt/eA8V8J

Stifel Financial in advanced talks to buy Barclays' US wealth management unit

Deal could come as early as next week if parties agree on terms.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HYLLRh May 30, 2015 at 12:28PM http://ift.tt/eA8V8J

Snapchat raises $537.6m via common stock sale at $16bn valuation

Investors in latest funding round include Chinese e-commerce company Alibaba Group Holding and US hedge funds.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LTxplU May 30, 2015 at 11:37AM http://ift.tt/eA8V8J

Brics' New Development Bank to be launched at summit in Russia

Group's summit at Russia's Ufa in July would launch bank along with currency reserve pool, according to Vladimir Putin.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BtwOC3 May 29, 2015 at 02:58PM http://ift.tt/eA8V8J

Watch construction of One World Trade Center over 11 years [Video]

One World Trade Center, the tallest skyscraper in the Western Hemisphere at 1,776 feet, is opening a new observatory to the public on 29 May.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SFWTJ0 May 29, 2015 at 12:54PM http://ift.tt/eA8V8J

Intel not bidding for Broadcom and close to buying smaller rival Altera for $15bn

Chipmaker Avago Technologies earlier agreed to buy rival Broadcom in cash-and-stock deal valued at $37bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LPEjZs May 29, 2015 at 12:22PM http://ift.tt/eA8V8J

Austria to repatriate £3.5bn of gold reserves in Britain

Austrian National Bank also plans to move some gold to Switzerland.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KsL9Uj May 29, 2015 at 11:51AM http://ift.tt/eA8V8J

India business sentiment falls back to pre-Modi level

MNI India Business Sentiment Indicator, gauge of current sentiment among BSE listed companies, fell by 2.5% to 62.3 in May from 63.9 in April.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BqK2PW May 28, 2015 at 03:42PM http://ift.tt/eA8V8J

Fifa corruption probe: A look at federation's booming revenues in recent years

Buoyed by success of 2014 World Cup, Fifa generated record $2bn in revenue in 2014.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JWvEG6 May 28, 2015 at 02:51PM http://ift.tt/eA8V8J

Apple reclaims world's most valuable brand title from Google

Driven by success of iPhone 6 and 6 Plus, Apple's brand value soars 67% to $247bn in 2015.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1d0UyaE May 28, 2015 at 12:59PM http://ift.tt/eA8V8J

Yahoo to face class action lawsuit over alleged email snooping

Yahoo is accused of scanning mails from non-Yahoo users to create targeted advertising scheme.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ckuk27 May 28, 2015 at 12:38PM http://ift.tt/eA8V8J

Charter Communications to pay $78.7bn for Time Warner Cable in mammoth US cable deal

Charter is also acquiring Bright House Networks for $10.4bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1ArfFxQ May 26, 2015 at 05:42PM http://ift.tt/eA8V8J

IMF: Chinese yuan is no longer undervalued

IMF says appreciation over past year has normalised exchange rate of yuan.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1duuV2I May 26, 2015 at 04:18PM http://ift.tt/eA8V8J

Twitter consider buying Flipboard for $1bn

Discussions seem to be currently stalled, tech blog Re/Code reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LEqJsn May 26, 2015 at 02:17PM http://ift.tt/eA8V8J

Malaysia Airlines expected to axe up to 8,000 jobs in painful restructuring

MAS will be rebranded and restructured into new company, which CEO Christoph Mueller says will be like a 'start-up'

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FcIACt May 26, 2015 at 12:51PM http://ift.tt/eA8V8J

Charter Communications and Time Warner Cable nearing $55bn deal to create 2nd biggest US cable operator

Charter is also expected to announce its acquisition of Bright House Networks for $10.4bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HHVfQY May 26, 2015 at 11:48AM http://ift.tt/eA8V8J

Hydrogen explosion threat at Japan's Fukushima nuclear plant due to leaking containers

Tepco said out of 278 radioactive-water storing containers examined so far, 26 had some sort of leaks.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KgYsqW May 25, 2015 at 03:13PM http://ift.tt/eA8V8J

Amazon starts booking revenues in individual European countries

As of now, company has rolled out accounting changes in UK, Germany, Italy and Spain, The Wall Street Journal reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LwQjyM May 25, 2015 at 12:16PM http://ift.tt/eA8V8J

Counterfeit products: Alibaba 'highly unlikely' to take proactive steps to end grey/black market

Reuters separately reported that Alibaba is working with 17 shoe manufacturers in Fujian province to cultivate home-grown brands online.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FKyXOX May 25, 2015 at 12:02PM http://ift.tt/eA8V8J

Audi unveils self-driving car R8 e-tron in China enabling web browsing while in transit

Audi's introduction of connected car in China comes as demand for luxury cars deteriorates in China.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HFwjte May 25, 2015 at 11:12AM http://ift.tt/eA8V8J

US Senate rejects bill to end NSA bulk collection of phone records

Bill was voted 57-42, three votes short of 60-threshold required.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LofbZv May 23, 2015 at 01:49PM http://ift.tt/eA8V8J

Microsoft's deal talks with Salesforce failed over $15bn price gap

While Microsoft was willing to offer about $55bn, Salesforce was expecting as high as $70bn, CNBC reports.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LnU49I May 23, 2015 at 12:12PM http://ift.tt/eA8V8J

Target's $19m settlement with MasterCard over data breach falls through

Fewer than 90% of affected financial institutions accepted proposal.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Al5RFE May 23, 2015 at 11:37AM http://ift.tt/eA8V8J

GM likely to face over $1.2bn fine as US finds criminal wrongdoing in ignition switch defect

US Justice Department has identified criminal wrongdoing in General Motors' failure to disclose defect, and is negotiating hefty penalty.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Hob6Bm May 23, 2015 at 11:07AM http://ift.tt/eA8V8J

Traditional energy firms to go extinct with solar power becoming as cheap as coal

Technological advancements in production of solar panels would make solar power as cheap as coal, says John Straw, author of iDisrupted.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LjwU4o May 22, 2015 at 03:08PM http://ift.tt/eA8V8J

China-led AIIB finalises articles of agreement and expects to begin operations by end-2015

China will be largest shareholder in Asian Infrastructure Investment Bank, followed by India.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1BfwlTL May 22, 2015 at 01:06PM http://ift.tt/eA8V8J

HP enters $4.5bn tech partnership with China's Tsinghua University

HP will sell 51% stake in new business called H3C for about $2.3bn to Tsinghua subsidiary Unisplendour.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Hy1uXl May 22, 2015 at 12:05PM http://ift.tt/eA8V8J

Time Warner Cable likely to fetch over $170 per share amid better regulatory climate for US cable deals

Charter Communications and Altice are in talks to acquire Time Warner Cable, indicating bidding war for US cable operator.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SlNAOc May 22, 2015 at 11:28AM http://ift.tt/eA8V8J

OECD income inequality reaches highest level in 30 years

Richest 10% of OECD population earn 9.6 times the income of the poorest 10%.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Pytd1d May 21, 2015 at 04:09PM http://ift.tt/eA8V8J

Halliburton and Transocean reach agreements with BP to settle Gulf of Mexico oil spill claims

BP's legal woes over Deepwater Horizon disaster recede with new settlements.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1AmOxzL May 21, 2015 at 01:25PM http://ift.tt/eA8V8J

Japan manufacturing sector expands in May as China remains in contraction

Markit flash Japan manufacturing PMI rose to 50.9 in May from 49.9 in April, while China PMI rose to 49.1 from 48.9 in April.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FDt9IR May 21, 2015 at 12:34PM http://ift.tt/eA8V8J

Wal-Mart heirs suffer combined $14bn loss to net worth in 2015 as retailer struggles

Alice Walton, Jim Walton, Rob Walton and Christy Walton lost a combined $5.7bn in a single day after Wal-Mart's latest quarterly results.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1AmFfDV May 21, 2015 at 11:33AM http://ift.tt/eA8V8J

Renault targets India's small-car sector with £3,000 Kwid hatchback

Renault has become first European firm to debut international model in India, as it unveiled Kwid there.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1R2XBhx May 20, 2015 at 04:57PM http://ift.tt/eA8V8J

Altice to buy 70% stake in US cable operator Suddenlink for $9.1bn

BC Partners and CPP Investment Board will retain a 30% stake in Suddenlink.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FzXFU1 May 20, 2015 at 03:21PM http://ift.tt/eA8V8J

FX fixing scandal: UBS to pay $545m in combined fines and pleads guilty over Libor

Bank will pay penalty of $342m over FX fixing and another $203m over Libor matter.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HtTZ6F May 20, 2015 at 01:26PM http://ift.tt/eA8V8J

Goldman Sachs predicts US crude price at $45 by October after 'self-defeating' rally

Recent rally in oil prices would force producers to drill, adding to existing glut, says Goldman Sachs analysts.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1SaYTbT May 20, 2015 at 12:38PM http://ift.tt/eA8V8J

Altice works on mega deals with Time Warner and Suddenlink to enter lucrative US cable market

Altice is close to buying smaller peer Suddenlink in deal valued at about $10bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1djj9IB May 20, 2015 at 11:52AM http://ift.tt/eA8V8J

DCC shares surge 10% after €464m offer for Shell's LPG business in France

DCC Energy has made a binding offer to acquire Royal Dutch Shell's Butagaz Liquefied Petroleum Gas business in France for €464m.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1PuJFzA May 19, 2015 at 03:01PM http://ift.tt/eA8V8J

Facebook likely to let businesses contact customers via Whatsapp

Facebook seeks options to generate revenue out of popular messaging app, which it acquired for $22bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1L4sPB9 May 19, 2015 at 01:01PM http://ift.tt/eA8V8J

Samsung's $930m compensation to Apple to be downsized as appeals court rejects trademark claims

Samsung secured partial win on its appeal of patent litigation against Apple.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1PSLnFH May 19, 2015 at 12:21PM http://ift.tt/eA8V8J

Argentine court suspends US judge-backed agreement between Citibank and vulture funds

Court has also imposed injunction barring Citibank from leaving its role as custodian of Argentina's restructured bonds.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1c1VJWx May 19, 2015 at 11:01AM http://ift.tt/eA8V8J

Alibaba seeks cooperation of global brands to fight counterfeits

Brands had a better chance of succeeding in clamping down on counterfeit trade if they talked to Alibaba instead of suing it, says company top executive.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FjAsSM May 18, 2015 at 05:57PM http://ift.tt/eA8V8J

China new-home price data: Worst is over for country's property sector

Data from National Bureau of Statistics showed that new-home prices in country's major 70 cities remained same in April on monthly basis.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1LcMM9y May 18, 2015 at 12:04PM http://ift.tt/eA8V8J

Shares in BHP-Billiton spin off South32 decline on trading debut

Shares opened at A$2.13, valuing the company at A$11.3bn.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JSpB3l May 18, 2015 at 10:56AM http://ift.tt/eA8V8J

Nepal Earthquake: Nepal repays almost $600,000 per day towards foreign loans

Nepal owes $3.8bn (£2.4bn, €3.3bn) in foreign debt, according to World Bank figures

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Geo2xv May 16, 2015 at 03:23PM http://ift.tt/eA8V8J

US judge slaps RBS, Nomura with $806m fine in subprime mortgage case

US District Judge Denise Cote ruled banks must pay full amount requested by Federal Housing Finance Agency.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Jn5Kev May 16, 2015 at 01:58PM http://ift.tt/eA8V8J

France-based Kering luxury brands sue Alibaba over sale of counterfeit products

Lawsuit alleges that Alibaba had been aware of sale of counterfeit products on its websites.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HjgDvq May 16, 2015 at 12:32PM http://ift.tt/eA8V8J

FBI and UK officials probe suspicious takeover offer for cosmetics firm Avon

Probe by FBI means that apparent fake takeover bid has violated criminal statutes.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1A8RZxQ May 16, 2015 at 12:09PM http://ift.tt/eA8V8J

Most hated internet innovations of all time: Pop-ups, spams, captchas, cookies and more

An infographic produced by NeoMam studios takes a look at seven most hated internet innovations of all time.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1L6iC7N May 15, 2015 at 03:00PM http://ift.tt/eA8V8J

Shares in US cosmetics firm Avon surge 20% after $3bn fake takeover offer

Company says it has not received any offer or other communication from acquirer, and has not sure whether such an entity exists.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IEETtC May 15, 2015 at 01:30PM http://ift.tt/eA8V8J

Netflix in search of local partner to enter China's massive online video market

Netflix is in talks with companies including the Jack Ma-backed Wasu Media Holding to form a partnership.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1A5uLIW May 15, 2015 at 12:43PM http://ift.tt/eA8V8J

FX fixing scandal: UBS faces $200m fine as US voids non-prosecution deal over Libor rigging

Justice Department's decision comes against bank's hope that regulators would look past alleged violations.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JjBPUs May 15, 2015 at 11:52AM http://ift.tt/eA8V8J

Apple Pay China launch: 'A smart move, though not one without risk'

While partnership with Alibaba would be a great advantage, strong rivals such as Tencent could make venture riskier.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JK5Wm6 May 14, 2015 at 04:45PM http://ift.tt/eA8V8J

Sharp announces ¥200bn bailout and thousands of job cuts amid steep losses

Company reported net loss for year to March of ¥222.3bn, compared to a net income of ¥11.6bn in previous year.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1HiHXwH May 14, 2015 at 01:36PM http://ift.tt/eA8V8J

A123 Systems and Apple agree to settle employee-poaching case

A123 Systems earlier sued Apple for allegedly poaching its engineers to develop "large scale battery division".

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1PHW5ih May 14, 2015 at 12:08PM http://ift.tt/eA8V8J

Wal-Mart to take on Amazon with $50-per-year fast delivery service

Service, codenamed 'Tahoe', will be similar to Amazon Prime, and is intended to boost Wal-Mart online business.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1H4EaxN May 14, 2015 at 11:34AM http://ift.tt/eA8V8J

Real estate accounted for 90% of South Korea's national wealth in 2013

As of end-2013, country had net wealth of 11,039tn won, up 3.5% from 2012, according to data released by Bank of Korea and Statistics Korea.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Ixp7SO May 13, 2015 at 04:42PM http://ift.tt/eA8V8J

Ethiopia capital Addis Ababa to host summit on global poverty

IMF chief Christine Lagarde and anti-poverty group representatives to attend summit.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1zYNR3y May 13, 2015 at 01:26PM http://ift.tt/eA8V8J

GM recalls more than 500,000 vehicles over seat and safety belt issues

Affected models are Chevrolet Malibu sedans, and Chevrolet Colorado and GMC Canyon midsized pickup trucks.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1Pi5hPA May 13, 2015 at 12:18PM http://ift.tt/eA8V8J

FX fixing scandal: US considers scrapping non-prosecution deal with UBS over Libor rigging

UBS and four other global banks are set to reach settlements with US regulators.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1zZsDCJ May 13, 2015 at 12:00PM http://ift.tt/eA8V8J

Russia invites Greece to join Brics' New Development Bank

Invitation extended by Russian Deputy Finance Minister Sergey Storchak during telephone conversation with Greek PM Alexis Tsipras.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1KEf1gc May 12, 2015 at 04:49PM http://ift.tt/eA8V8J

Apple in talks with Alibaba to launch Apple Pay in China

Apple has become the number one smartphone vendor in China, overtaking Xiaomi.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FhNl2S May 12, 2015 at 04:16PM http://ift.tt/eA8V8J

Henkel to buy Colgate-Palmolive's Australian laundry brands for €220m

Brands to be acquired generated total sales of about €110m in the 2014 financial year.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1JEa4DX May 12, 2015 at 02:35PM http://ift.tt/eA8V8J

Deloitte replaces PwC as Tesco auditors, following accounting scandal

PwC has been auditing Tesco's accounts for the last 32 years.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1G20WdA May 12, 2015 at 12:08PM http://ift.tt/eA8V8J

US defends MetLife's SIFI designation and asks court to dismiss insurer's lawsuit

Companies with SIFI designation in US would be subjected to stricter regulatory oversight and tighter capital and liquidity requirements.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1EvFHME May 12, 2015 at 11:35AM http://ift.tt/eA8V8J

India nominates banker KV Kamath as first chief of Brics' New Development Bank

Kamath headed country's private banking giant ICICI Bank until April 2009.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1zVtGUe May 11, 2015 at 03:00PM http://ift.tt/eA8V8J

Nasdaq tests bitcoin to make use of blockchain technology

Company intends to test blockchain in Nasdaq Private Market – the marketplace to handle pre-IPO trading among private companies.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1coEsqZ May 11, 2015 at 01:22PM http://ift.tt/eA8V8J

George Osborne likely to sell RBS shares at loss following Conservatives' win

Government looks at accelerating disposal of its shares in banks rescued during the 2007-2009 financial crisis.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1IsZuTb May 11, 2015 at 11:43AM http://ift.tt/eA8V8J

Sharp shares plunge 30% as firm restructures itself as medium-sized

Sharp is expected cut its capital by more than 99% to ¥100m and issue preferred stock, diluting stake of common shareholders.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1E1qyRI May 11, 2015 at 10:55AM http://ift.tt/eA8V8J

China faces gigantic debt pile amounting to 282% of GDP

China's total debt has quadrupled since 2007 to reach $28tn by mid-2014, says research from McKinsey Global Institute.

via IBTimes.co.uk : Articles by Jerin Mathew http://ift.tt/1FbsCgY May 09, 2015 at 03:18PM http://ift.tt/eA8V8J