The stock markets last week witnessed shifting of priorities to gold and money markets funds as high volatility make equity markets uncertain following the steep fall of over nine percent on Chinese market on opening day of the week Monday. This has led to record outflows from equity funds during the week.
Regions
Oil price up 27% in just 3 sessions; OPEC agrees on a fair price deal
The oil price surged to one-month high at $47.31 a barrel on New York Mercantile Exchange (NYME). Oil futures reached $48.09 indicating its highest since 31 July. The rebound in oil prices was mainly due to two factors.
Two Harvard graduates make it easier to choose the right health plan thru data analysis
Two Harvard graduates, through their website, solve the challenge of choosing the right health plan in a labyrinth of health insurance coverage, rules, and companies.
Pentagon taps Boeing, Apple, Harvard to develop wearable tech for soldiers
US Defense Secretary Ash Carter on August 8 gave $75 million to FlexTech Alliance, a consortium of giant tech and research firms, to develop an electronic device small enough for soldiers to carry.
Naver Corp waits for better market conditions before deciding on IPO
Giant South Korean web portal operator Naver Corp is yet to decide on when put its messenger app unit Line Corp on Initial Public Offering (IPO) due to the present volatility of the market.
Latest News
Internet of Things (IoT) is poised to become a $7-trillion market over next five years on the most conservative basis and 50 billion new connections during the same period. Some other project the mobile wallet industry will be worth $14.4-trillion market in the near future.
Wang Jianlin, head of Dalian Wanda Group, agreed to buy the Ironman Triathlon races organizer in a deal amounting to $650 milion. The deal was announced Thursday in a move for Asia's richest man to diversify his sports fortfolio. The developer also mentioned the possibility of another sports related purchase before the year ends.
Russia's Mobile TeleSystems (MTS) partnered with Google to improve its mobile internet service. The deal will highlight Google Now voice search, advertising and promoting it on MTS outlets. The voice command app would be pre-installed on Android devices available on MTS retail chains.
Uber Technologies China is drawing near their $1 billion goal of raising funds to help support their fight against wealthier Chinese rival Didi Kuaidi Joint Co.
Apple recently announced its iPhone launch, which will be on September 9 at San Francisco's Bill Graham Civic Auditorium. There are reports that Apple will unveil an enhanced Apple TV and iPhone 6s.
An Oakland lawyer claims that companies in the Bay Area will soon be facing overtime-related lawsuits. These lawsuits will hit firms in the sharing economy, like Lyft and Uber.
Shoppers are demanding more transparency with what they buy, which could mean the end of that black and white stripes on the products, more familiarly known as barcodes.
Schlumberger had announced conclusive merger agreement with Cameron in which both companies shall combine in a stock and cash transaction. The agreement was unanimously confirmed by the boards of directors of both companies on Thursday.
Business groups criticized the decision of the National Labor Relations Board on Thursday for companies and subcontractors to unionize low-wage service sector employees.
