It appears that a supergiant gas field was recently discovered in an Egyptian coast by an Italian oil group called 'Eni'. According to a recent report by Telegraph, "a supergiant gas field holding the equivalent of 5.5 billion barrels of oil has been discovered off the coast of Egypt, the largest ever find in the Mediterranean."
Tags: Europe
Irish fashion brand Primark to launch eight retail stores in the U.S.
The leading Irish clothing brand, Primark, tries to break through in the U.S. market this year. On September 10, it will open its first store in Boston, which will followed by seven other locations across the country.
Citigroup says it's time to rebuild its equities unit
Citigroup announced that they are planning to rebuild its equity unit soon. The move is seen as a bold action by the bank considering current economic situation and the "Volcker rule" regulation which limits banks investment in such funds.
Reebok rebrands as a fitness center in the U.S. and Europe
Reebok, the sportswear from Germany, is heading to fitness business, with its major marketing campaign "Be More Human" in Berlin, Germany with partnership from CrossFit, Les Mills and Spartan Race.
Trading apps make the way for influx of young investors
Many young investors are buying stocks and opening accounts regardless of market volatility. Moreover, stock trading apps such as Robinhood have already become popular among young investors and are enabling them to double up as investors as well.
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Amazon announced Wednesday that it will offer its Prime Instant Video service in Japan next month, going toe-to-toe with rival Netflix in the video streaming industry.
Selling on Wall Street was so drastic Monday that the stocks and exchange-traded funds went through unprecedented emergency halts 1,200 times.
Samsung decided to postpone the release of Galaxy Note 5 until 2016. Petitioners express themselves online hoping to change the company's decision for an earlier date launch.
One can cite several reasons for the ongoing crash of equity values across the global markets. The major reason that no one can afford to avoid is Chinese factor. The slowdown in the world's second-largest economy, China's latest devaluation of its currency Yuan, drop in manufacturing output, mining companies reporting worst performance, etc, all these developments are impacting the global markets in fact all the countries including developed and emerging economies as well.
When oil prices went below $42 per barrel, there were analysts that predicted it might even go as low as $15. It seems like this may soon happen as oil price continues to down, presently at $39.
The first tranche of the bailout package for Greece has been released. The European Stability Mechanism board approved the release of €26 billion ($29 billion) Wednesday after assemblies of creditor nations, including Germany, endorsed the package.
A steep plunge in both new orders and shipments sent manufacturing activity in New York state tumbling down to its lowest level since 2009. This was the revelation showed by a survey conducted by the New York Federal Reserve.
It seems like yard work is headed to a greener pasture with the new free-wheeling automated lawn mower made by iRobot Corp Inc, which recently got regulatory approval Wednesday to manufacture and sell their new product.
Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world's second-largest economy.
