Underlining the erupting problem of liquidity crunch in its financial system, the world's second largest economy's central bank the 'People's Bank of China' has released GBP14 billion emergency funds into the domestic banking system to support the cash supply mechanism.
As the onslaught of the stock market tumult continues to wreak havoc on some of Britain's banks, Lloyds and Royal Bank of Scotland lost almost £3 billion from their value.
Former U.S. Treasury Secretary Larry Summers claims that the aggressive sell-off on the global markets can lead to "a very serious situation" and raising interest rates could be a big mistake.
Many home health workers and other direct care workers will have the best day of their lives because they are going to have a raise. What drives this wage increase include union assertive campaigns, bountiful state minimum wage laws, an authoritative court decision on Friday and most significant is demand growth for paid home care by consumers.
China is reportedly planning to cut deposits that banks are required to hold in reserve to counter the effects of a weaker currency.
A few sentences from Donald Trump's previous speech are, he wants the system simplified to the minimum and he wants to see a reduction in all taxes, especially for the corporate and middle class.
Greece's Prime Minister, Alexis Tsipras, resigned recently, triggering a snap election on September. This is just in time as the country is about to tap it new 86 billion bailout package.
With Reserve Bank of India (RBI) licensing 11 companies to commence banking operations as 'Payment Banks,' Indian banking system is poised for a major revolution in the days to come.
The reduction in consumer spending and drop in exports are squeezing the world's third largest economy. During April-June quarter, exports from Japan eased putting further pressure on the Japanese economy, which slowed down at 1.6 percent annual growth rate as against the forecast of 1.9 percent.
With sanction being waived off, Iran's underdeveloped oil and gas sector is now open to global investors. Six global powers- the US, the UK, Germany, Russia, France, and China- have agreed on a deal to lift sanctions on Iran with conditions.
The world's second largest economy China has to wait for one more year to make its currency 'Yuan' a part of International Monetary Fund's (IMF) currency basket. Dashing the dragon country's hopes, IMF's board favored a decision to keep renminbi as it is until 30 September 2016 year.
The first tranche of the bailout package for Greece has been released. The European Stability Mechanism board approved the release of €26 billion ($29 billion) Wednesday after assemblies of creditor nations, including Germany, endorsed the package.
The Chinese stock market is registering a volatile trading pattern as investors became nervous about the future course of the market. The slowdown in the dragon country's economy growth has become a cause of concern for the investors.
The value of Venezuela's currency, the Bolivar, has nose-dived too fast and has now reached a point where it's worth less than a penny on the US dollar.
Greek is heading towards a third round of bailout package when the crisis-hit nation is about to make repayment of euro 3.2billion to the European Central Bank. The third bailout plan for ailing Greece economy is creating tremors in the European Union (EU). German's decision is crucial on Wednesday.
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