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American Apparel paints rosy picture after bankruptcy
American Apparel company forecasts robust demand after the bankruptcy turnaround. The US-based fashion chain is predicting more profitable years to come. American Apparel is known for its controversial sexual advertisements.
Alibaba offers to privatized another Chinese company listed on the NYSE
The Chinese biggest e-commerce company, Alibaba announced that it will buy the remaining 82 percent of China's YouTube-like service provider, Youku Tudou. According to a source, the company is offering Youku Tudou $26.60 per share totalling up to $3.6 billion.
Match Group Inc. will go public
Match Group Inc. is planning to capitalize the current booming market for online dating and is seeking to go public. The company had sought legal advice and documents on Friday for an IPO and is expected to be listed on the Nasdaq Global Select Market.
Bank of America posts profit for 4 quarters in a row
Distancing from the impact of financial crisis, Bank of America (BoA) has posted positive numbers for the third quarter making its fourth consecutive quarter with profits. The Charlotte-based bank posted a net profit of $4.07bn for the third quarter. Despite its pedestrian performance in the third quarter ending September 2015, the bank has been able to post profits for the last four quarters. This is considered to be encouraging for the shareholders of $2.2trillion bank. The North America's second largest bank by assets suffered a drop of 2.5 percent in revenues owing lower interest rates. This resulted in 6.9 percent drop in net interest income.