In fear of Brexit, economists predicted British central bank will keep its interest rate low. While Bank of England Governor Mark Carney warned that Brexit will damage British financial stability.
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Moody's cuts Houston's $3-bln debt to Aa3 after oil price drop
Citing drop in revenues, Moody's Investors Service has lowered Houston's $3 billion of general obligation debt by one level to Aa4. Lower oil prices and restrictions on raising taxes are keeping further pressure on Houston's economy.
Plunge of Valeant Shares Made Bill Ackman to Lose $1 Billion
A huge slump in Valeant Pharmaceutical stocks on Tuesday made Pershing Capital to lose more than $1 billion in one day. Meanwhile Bill Ackman planned to take more active role in the drugmaker.
FedEx Said Amazon Needs Tens of Billions of Dollars and Years to Compete With The Company's Network
FedEx said in a statement that “a new entity competing” with the company will have to spend tens of billions of dollars to replicate its current extensive network. The statement, referring to Amazon’s new plan to get into the logistic business, also assured that FedEx’s relationship with Amazon remain strong.
McKesson dismisses 1,600 staffs from US office to preserve its cash level
McKesson is terminating 1,600 staffs from its US division in an effort to trim expenses after some important customers left the company.
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Ctrip reported a 50% increase in its net revenues for the fourth quarter ended December 31, 2015, as demand for online ticketing increases.
Celator Pharmaceuticals shares jumped more than 400% in Tuesday trading. Meanwhile, hedge fund manager Steve Cohen unvelied his 8.3% shares of the company.
Sources believe that Apple is trying to enhance its security for iCloud amid the legal dispute with the FBI. However, the tech giant will have its challenges to ensure security while retaining users convenience. Reports also said that the company has moved some of its iCloud services to Google servers.
Two of the most prominent European stock exchange, Frankfurt and London has agreed to merge on Wednesday. The merger between them will create a new European trading powerhouse.
Crytek’s new VR-enabled game development engine, the CryEngine V, will be available for a price that “feels comfortable” in the company’s new “Pay What You Want” business model. Users can buy resources from the engine’s new Marketplace system and also choose to contribute to the company’s new program to help indie projects around the world.
The self-lacing shoe technology finally arrives, as Nike announced its newest adaptive lacing technology. The HyperAdapt 1.0 will be available for Nike+ members later this year.
Chipotle is considering to improve certain food safety measures, which the company recently introduced after outbreaks of E.Coli pushed Chipotle's balance sheet into a gloomy condition. Chipotle recently changed its cooking methodology by precooking the beef outside its own restaurants.
Federally backed $2.2 billion solar plant in California may be forced to close. The solar plant failed to supply electricity to Pacific Gas and Electric Co as promised.
The strengthening of Yen is eroding the value of Japan's exports to the US. Its overall exports volume was flat, while the value declined over four percent owing to rising Yen.
