Regions

Gold industry

Gold price meltdown continues; poised for further drop

The gold price drop last week showed its lowest since 2010 and the yellow metal is poised for further fall likely to record biggest monthly drop in the past two years.

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European and Greek flag

All eyes on talks over bailout plan for Greece

The delayed talks over a third 85 billion euro bailout plan is set to take place on Tuesday. Syriza government led by Prime Minister Alexis Tsipras will hold negotiations with European troika, the tripartite committee led by the European Commission (Eurogroup), European Central Bank (ECB) and International Monetary Fund (IMF).

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European Space Agency

Europe invests $384M in search for alien life on Jupiter's moons

With recent milestones in space exploration, including this month's flyby of the New Horizons spacecraft of Pluto, one may wonder whether man has reached the end of planetary exploration.

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Baker Hughes Inc.

Major oil companies layoff more employees due to U.S. crude oil price drop

As the price of crude oil continues to slip down, the oil companies are cutting jobs to survive the business. In the first quarter of this year, blue collar jobs were deterred, this point, engineers and scientists will be affected.

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Citibank

CFPB fines Citibank for illegal credit card practices

Citigroup's consumer bank has been fined to pay $700milion for its illegal credit card practices. The US Consumer Financial Protection Bureau (CFPB) has observed that Citibank's seven million customer accounts have been charged with misrepresenting costs fees. The consumer finance watchdog has also said that customers were charged for services not rendered to them. CFPB further notes that customers were affected by Citibank's deceptive marketing practices.

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Uber

Disruptive Legislation: France re-examines taxi law amid Uber's rise

France is rethinking its taxi laws with the rising demand for Uber and other online ride-hailing services. France's Economy Minister Emmanuel Macron says key players are meeting next month to re-examine the industry's economic model.

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Cheeseburger

Google offered $200 to $300M to Impossible Foods for plant-based cheeseburgers

Google offered $200 to $300 million to acquire Impossible Foods, a startup business, developing plant-based meat and dairy products. The company that wanted to beat the meat industry didn't agree on the price.

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UK Telco BT

BT launches Ultra HD subscription package

UK telecommunications provider BT has launched an all-new premium entertainment package using the telco's new set-top box.

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Oil drilling rig

Running out of steam: Energy sector is underperformer among all 10 sectors in S&P 500

Energy sector was the prime culprit among other stocks including materials and biotech, that pulled S&P 500 and Dow Jones lower recently. S&P 500 fell 2.2% and Dow eased 2.9% during the week ended 24 July. S&P 500 suffered biggest weekly decline since March.

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Apple

Mutual funds and ETFs are dancing to the tune of Apple's stock

What happens when a single stock is influencing the performance of several mutual funds (MFs) and exchange-traded funds (ETFs) alike?

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Tetsuro Aikawa

Mitsubishi Motors plans Japan, SE Asia, Russia output focus after U.S. pullout

The president of Mitsubishi Motors Corp (7211.T) said Japan, SouthEast Asia and Russia will become the automaker's principal production hubs after it calls time on making cars in the United States later this year because of dwindling output there.

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London Stock exchange

China slides again, Europe follows

Concerns over China dominated financial markets on Monday, with the biggest fall in Shanghai shares in eight years driving stock markets and prices of major commodities lower across the board.

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Brokerage house

China state-owned margin lender returns market-steadying funds early

The China Securities Financial Corporation (CSFC) has returned ahead of schedule some of the funds it borrowed from commercial banks to stabilize the stock market, three people in the banking industry with direct knowledge told Reuters.

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Teva Pharmaceutical Industries

Teva to buy Allergan generic drug business for $40.5 billion, drops Mylan bid

Teva Pharmaceutical Industries has agreed to buy Allergan Plc's generic drugs business for $40.5 billion in a cash and stock deal that will turn the Israeli company into one of the world's largest pharmaceutical firms.

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Nike FuelBand SE

Apple and Nike to pay back customers $15 cash or $25 gift card as settlement in Nike+ FuelBand class action suit

Apple and Nike will reportedly settle the claim filed two years ago over a misleading ad about the exact capability of Nike+ FuelBand, offering either $15 cash or $25 gift cards on its stores in the U.S. and Puerto Rico.

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