China's oil giant reported a 67% drop in profit. PetroChina reported its worst profit in 15 years which brought liability to $162 billion.
Industry
StanChart To Dispose Assets Worth $4.4 Billion in Asia Including $1.4 Billion in India
StanChart has reportedly been considering for disposing of risk weighted assets worth $4.4 billion in India, China, Indonesia and Malaysia. To be liquidated assets in India will worth around $1.4 billion following an internal classification of businesses with risk for default. The move is going to take place since the lender pares its balance sheet after booking record impairments.
Charter Communication CEO Met FCC Regarding Acquisition of Time Warner Cable
Tom Rutledge has met FCC chairman Tom Wheeler last week to talk the acquisition. As the merger has already been past its late March informal deadline for approval.
Facebook shares raised to $154 by Pivotal analysts
Pivotal raised its objective price on Facebook's shares from $136 to $154 and restated a buy rating for the company, suggesting 51% upside to Tuesday's ending price.
Chinese stocks show positive movement as Japan's Nikkei Stock drops
Chinese stocks rose on Monday over the belief that lenient inflation data would promote policymakers to elevate the economic condition by additional financial easing. The benchmark Shanghai composite Index in China ended the trading session at 30333.96.
Latest News
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.
Japanese yen surged against dollar on Monday. Speculation from non-Japanese short-term currency players pushed the currency to the highest point against dollar.
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.
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.
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.
LNG supporters are worried about the continuous fall in the industry amid oil price recovery. Liquefied natural gas prices continue its downhill slide despite a 50% surge in Brent oil prices.
India is using its wide biometric ID system, the Aadhar database, to bring banking services access to more of its people. An Indian bank already introduced an ATM where people can use their Aadhar ID number or ID card to make transactions instead of a PIN.
The steel industry of China is expected to shrink rapidly, stopping global price fall. The steel industry across the world is fighting the problem of over production as demand weakens in China.
Las Vegas Sands will pay a settlement charge of $9 million in order to clear the corruption case over operations in China.
