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