Weather New York, NY +63°F

Regions

Puerto Rico Loses Bid For Restructuring Law as Crisis Mounts

Puerto Rico Central Bank Governor Restricts Withdrawal To Avert Default in $423M Debt Repayment

Alejandro Garcia Padilla, governor of the Puerto Rica’s central bank, Government Central Bank, has announced an executive order on Saturday. The order restricts withdrawal of funds except for the emergency services in a bid to avoid default in $423 debt repayment scheduled on May 1. Analysts have already warned that failure in debt repayment will definitely attract a default status for GDB.

Read Full Article
Janet Yellen Holds News Conference Following FOMC Meeting

Former Top Advisor Proposed Regional Fed Banks To Be Public

Dartmouth College Professor Andrew Levin, former advisor to Janet Yellen made a proposal to reform the Fed. He also suggest the Fed to be reviewed by GAO annually.

Read Full Article
Mexico Sugar Output Increases 7.9 Percent Over Last Year

U.S. Consumers Prefer Sweeteners Made From Sugarcane Over Sweeteners Made From GMO Beets

Mexico will ship up to 500,000 metric tons of sugar to U.S. without any modification on the agreement being signed by the two nations on December 14. U.S. consumers prefer sweeteners from sugarcane over sweeteners manufactured from genetically modified beets.

Read Full Article
Views Of China Petroleum & Chemical Corp. (Sinopec) And PetroChina Co. Gas Stations As China To Ease Market Barriers For Oil

PetroChina Reported $162 Billion Liability As Oil Price Continues to Plunge

China's oil giant reported a 67% drop in profit. PetroChina reported its worst profit in 15 years which brought liability to $162 billion.

Read Full Article
BRITAIN-BUSINESS-EARNINGS-LSE

European Stock Extended Last Week's Gain Led by Banking and Commodity Sectors

Stoxx Europe 600 Index continued last week's gain. The index sets a new course for the first back-to-back advance in two weeks.

Read Full Article
Google Begins Installing Ultrafast Broadband Network

Kansas City Says Farewell to Google Fiber's Free Internet Option

Google Fiber is now phasing out its free internet option in Kansas City. For existing customers, they may continue usign the service. For subscribers to take advantage of the free internet option, they have to pay an installation fee of $300.

Read Full Article
Picture shows: An Iceland store in Central London.

British Retailer Iceland Innovates to Take On German Competitors

In a battle with German's budget stores, Aldi and Lidl, Iceland introduces its food warehouse concept. The concept is an advancement of its old style format with cash-and-carry style.

Read Full Article
CHINA-MOBILE-INTERNET-TELECOMMUNICATION-TRANSPORT-MERGER

Venture Capital Investment in China Surged Amidst Global Slowdown

Investments in Chinese tech companies had a 50% surge in the first quarter of 2016. Nevertheless, many of the investments were spent in the big startups.

Read Full Article
This picture taken on November 25, 2011

Italian Banks Face a Bailout Following a Surmounting Bad Loans

Italy faces a €4.95 billion ($5.65 billion) bailout after bad loans in its banks accumulated to an alarming rate. The bank shares have lost close to half of its value in the last 12 months.

Read Full Article
African Farmers Struggle To Feed   Continent's Booming Population

African Farmers Now Supported With Mobile Drought Insurance

Due to extreme dry weather conditions, African farmers are seriously affected by their crops failure with little or no more money to replenish their lands or support their families. With the mobile drought insurance, farmers are protected from such harsh conditions by paying a small surcharge fee upon purchase of seeds and fertilizers registered with an insurance company.

Read Full Article
Inside A National Career Fairs Event Ahead Of Jobless Clams Figures

US court rejects $12.25-mln Lyft lawsuit settlement

A US Court has rejected $12.25-million legal case between Lyft and its drivers. Lyft and attorney of drivers need to sit back again on further discussions after the latest judgment.

Read Full Article
ICELAND-TAX-MEDIA-PANAMA

European banks under regulators' scanner amid Panama Papers issue

European banking regulators have begun probing links between banks and tax havens in the wake of leakage of Panama Papers. Switzerland's financial watchdog FINMA has cautioned banks to crack down on money laundering. Geneva has also commenced a criminal enquiry into banks dealing with tax havens in the wake of Panama Papers.

Read Full Article
http://www.gettyimages.in/license/503994462

Verizon to bid for Yahoo, Yahoo Japan stake

Verizon Communications Inc will bid for Yahoo's web business, while Alphabet Inc's Google unit is also exploring options on bidding for it. Additionally, Verizon may also make an offer for stake in Yahoo's Japan subsidiary.

Read Full Article
'Flaring Event' At Exxon Mobil's Torrance Refinery

Exxon Mobil to shell out $10.75mln to New York over oil spill cleanup costs

Exxon Mobil Corp will pay $10.75 million to New York State reimbursing costs on oil spill cleanup. The payment will cover New York Environmental Protection and Spill Compensation fund's costs.

Read Full Article
Wheat harvesting in full swing ahead of Baisakhi festival

South Africa's Wheat-Import Tariff Increase Could Worsen Inflation

South Africa is experiencing wheat shortages prompting grain importation. The increased tariff has been approved but Treasury requested the Trade and Industry sector to review it as it will affect the prices of staple food.

Read Full Article

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics