US retailers have started flexing their muscles to meet the buying demand during the forthcoming holiday season. Retailers such as Amazon have started hiring in number running over thousands.
Industry
Visa working on Blockchain-based remittance project
For a quicker and consumer-friendly remittance service, Visa Inc is working on a proof of concept for Blockchain-based remittance system through its subsidiary Visa Europe.
Charles Smith’s Urban Winery launches in Seattle
Charles Smith has touched down the ground in Georgetown with the opening of Charles Smith Wines Jet City. The new Urban Winery is now considered as the largest urban winery on the west coast.
China to drop down its copper imports following weak domestic demand
China to face decline in copper imports for the next year as the response of its weak domestic demand on copper driven by slowing economy in the country. China released weaker than expected economic data that raised serious concerns over the country's future demand for industrial metal.
Amazon Kindle Fire is $20 Cheaper for Black Friday
Approaching Thanksgiving, Amazon offers a great price for its Fire gadget series. It cuts Kindle Fire price to $35 and Fire TV to $25. According to Time Magazine, starting Thanksgiving, Amazon will drop $15 of prices for Fire tablet, its number one best-selling product to $34.99.
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The Gap Inc (Gap Inc) share fell over five percent to $27.69 and later rebounded to $28.45 a share on funds buying support on New York Stock Exchange (NYSE).
German industrial production went down 1.1 percent month-on-month for the third quarter. According to Bloomberg Business, Berlin Economy Ministry reported the decline Friday, while economists expected a 0.5 percent increase. Germany has been struggling with the Chinese economic slowdown. The country is also grappling with the economic slowdown in other emerging countries where it exports most of its products.
Best Buy will hold a one day in-store-only pre-Black Friday event on Saturday, offering exciting brands including Samsung, Sony TVs, PlayStation 4, Xbox, and Apple products. Gotta Be Mobile has reported that the sale would be held in 400 locations and buyers can save $70 up to $1,200 on their favorite tech brands. The event will be in a four hour window from 1 p.m. to 5p.m. local time.
MetLife Inc suffered 43 percent drop in profit for the third quarter due to bleak investment results and tax costs associated with the UK subsidiary which impacted the financial performance of the largest life insurer in the US.
Amazon launched its Black Friday Deals store in the first day of November as start of a countdown to one of the biggest shopping days of the year.
Contrary to economists' expectations, the number of approvals in UK mortgages suddenly dropped in September for the first time in the past four months. The mortgages rose significantly in August indicating the highest level since early 2014.
Gold prices are at their lowest in three weeks after the Federal Open Market Committee announced that they won't push through with the interest rates hike.
The commodity slump caused by China is adversely affecting some of the biggest raw material markets in the world, and now it shades the sparkle that Canada's Arctic diamond industry once had.
Iron ore futures approached $50 a tonne Monday, the lowest it has been in three months, going down almost 10 percent in just two weeks. Reuters reported that the $50 a tonne price is a sign that losses will continue after Dalian futures slumped lower on Tuesday as Chinese steel producers cut output due to the decline in demand of iron ore.
