Author Archives
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Brexit looms large over Fed’s June interest rates hike
The U.S. Federal Reserve will most likely take a call on hiking interest rates after Britain’s historic vote on EU. So as to factor in the economic fallout of Britain leaving the European Union, the U.S Federal Reserve may be… Read More ›
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BP settles class-action lawsuit with $175,000
This settles only the class-action lawsuit brought on by shareholders accusing the company of understating the severity of the 2010 oil spill in the Gulf of Mexico. Other legal actions related to securities concerning the oil spill is still on…. Read More ›
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With its new round of funding, Uber gains further traction in the Middle East
Saudi Arabia’s Public Investment Fund has valued the company at $62.5 billion. In this latest round of funding, Uber mopped up $3.5 billion at a time when funding for tech startups are contracting. Uber has gained further traction in the… Read More ›
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Singaporean wealth funds invest $1 billion in Alibaba
The U.S. SEC is investigating Alibaba’s sales data of its annual Single’s Day event. Softbank has since reduced its exposure but has maintained its dominant profile in Alibaba. With Softbank selling some of its shares, Singaporean wealth funds have now… Read More ›
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Chinese vice finance minister supports increased US China coordination
Zhu Guangyao has warmed up to the impending hike in U.S. interest rates, saying it is good for China and for global economies. The Chinese vice finance minister, Zhu Guangyao, has welcomed the U.S. Federal Reserve’s decision to hike interest… Read More ›
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Dell loses appraisal case
It will now have to pay up millions of dollars to investors who opposed the merger, including Carl Icahn. In a ruling that could have a significant impact on Dell, a Delaware judge has ruled that Silver Lake Partners and… Read More ›
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Are investors starting to leave Alibaba Group Holding Ltd?
Significantly this comes in the wake of the U.S. SEC investigating the sales data of its annual Singles’ Day sale. Softbank Group Corp has said it will sell at least $7.9 billion shares of the Alibaba Group Holding Ltd so… Read More ›
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Kellogg and General Mills recall flour over possible E Colli outbreak
Despite no evidence of E. coli in its plants or kitchens, General Mills has recalled its flours out of abundant precautions. Citing an outbreak of E. coli that has already sickened 38 people in the U.S., General Mills has issued… Read More ›
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Boeing could win Apache contract from UK’s MoD
As per The Telegraph Boeing is likely to be awarded a contract worth $2.9 billion for supply 50 Apache attack helicopters to the UK. As per a report appearing in the Telegraph, Britain’s Ministry of Defence is all set to… Read More ›
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Hackers got a helping hand from an insider
An investigative committee set up by the Bangladesh government has come to the conclusion that it cannot rule out the possibility of an insider leaking out the bank’s internal working to hackers. According to the head of the panel that… Read More ›
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