US investment industry continued to resolve the problems on ethics and costs amidst controversies. An average of US$8 million would be spent by Wall Street's brokerages.
Sectors
South African oil giant BP invests in youth
BP of South Africa made a huge investment on youth education. "We need more of these types on investments so as to grow the pool of young people who could be university ready," said Dipuo Peters, talking about a recent investment made by South Africa's largest oil company, BP.
Chinese firms defend unpopular mega projects
Representatives from several Chinese firms defended their unpopular mega projects in Myanmar. In a press conference held in Rangoon, Myanmar yesterday, the Embassy of China and several representatives of Chinese state-owned companies issued a statement regarding the mega projects being developed in the country.
US Municipal Bond Fund Drop, Says Lipper
US municipal bond fund drop according to Lipper. According to Thomson Reuters' Lipper, the four-week moving average of US municipal bond funds remained negative at US$2.
Surging demand for gadgets rewards Asian chipmakers
Asian chipmakers were expected to earn more due to the increasing demand for gadgets. Asian chipmakers were set to take advantage on a major change in the unstable industry.
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The Investment Company Institute recorded US$28.1 billion withdrawals from bond reserves. Investors in mutual funds headquartered in the United States withdrew US$28.
Valeant Pharmaceuticals and energy sector boost TSX The Toronto Stock Exchange's S&P/TSX composite index, Canada's main stock index, hit 12,217.
Bank of Japan bought US$9.5 billion Japanese government bonds. The Bank of Japan offered to buy Japanase government bonds worth of US$9. 5 billion. The government bonds had residual maturities from 1 to 10 years.
The US$2.25 trillion hedge fund industry continued to be hit by June sell-off because of Fed Chairman's remarks.
Asian stocks were swept up by Europe's rally while Euro continued to sulk. On Friday, Asian stocks increased as Euro tended its losses. This transpired after Europe's two most influential banks assured venture capitalists.
China's current slow growth put pressure on Singapore's Temasek. Temasek Holdings Pte Ltd. came under pressure to force the review of its exposure to Chinese banks in the wake of China's current financial and economic conditions.
Brazil's benchmark Bovespa stock index increased by 2% after investors picked up Vale and OGX. On Thursday, Brazil's benchmark Bovespa stock index increased by 2%.
Lululemon was sued for fraud over sheer yoga pants and its CEO sudden resigned. The CEO of Lululemon Athletica Inc. suddenly decided to resign from her position.
Telediffusion de France SAS was selling its French tower for US$5.1 billion. Telediffusion de France SAS' private equity owners were seeking higher than Eur4 billion, which is equivalent to US$5.
