News
GE undergoes massive shakeup in top management
Industrial conglomerate General Electric Company (NYSE: GE), which faces heavy headwinds in several business segments, reported a 48% y-o-y decline in non-GAA earnings to $2.418 billion, or $0.28 per share, on revenues of $29.558 billion in Q2 2017. The company
Read MorePoor retail sales, Catalan referendum turns Euro weak
A strong Q2 employment growth in the Eurozone enabled the Euro dollar to rise against the Yen in early September. On the other hand, a downward revision of second-quarter GDP growth to 2.5%, from the first estimate of 4%, weakened
Read MoreIndian PM Under Pressure After Demonetization & GST Failures
Prime Minister Narendra Modi sent 1.2 billion people into shock on November 8, 2016 when his BJP Government announced a demonetization drive that was launched to eliminate black money and clean up corruption in the country. The finance ministry blacklisted
Read MoreVolkswagen’s ‘dieselgate’ scandal costs pile up to $30 bln
It is more than two years after the German automobile manufacturer Volkswagen AG (OTC: VLKAF) was caught using a software to fool pollution tests. Since then, the company had set aside about €22.60 billion ($26.7 billion) to buy back or
Read MoreBoC’s deputy governor talks down the Canadian dollar
The UK Office for National Statistics reported a better-than-anticipated inflation rate in August. That sparked hopes of a rate hike in November. Furthermore, Mark Carney, the Bank of England’s governor, had hinted about the possibility of a rate hike soon.
Read MoreFed Report Shows Huge Gap Between Minority & White Households
The Federal Reserve commissions the Survey of Consumer Finances to be carried out once in every three years to get real time data from American households on a number of categories including home ownership, stock portfolios, car ownership assets, debt
Read MoreTesla’s SolarCity fined $30 Million by US Justice Dept.
The successful launch of the Model 3 car, aimed at the mass market, by electric vehicle manufacturer Tesla Inc (NASDAQ: TSLA) kept its stock bullish until mid-September. However, the stock has been on a decline, after recording a new 12-month
Read MoreAussie turns weak on RBA governor’s dovish stance
Strong employment data enabled the Aussie to reverse the downward trend against the Yen in the second week of September. A decline in the Japanese industrial production in July also supported the reversal. Since September 14, the AUD/JPY pair has
Read MoreKiwi dollar up on strong rise in dairy products’ price
In the past one month, the GBP/NZD pair had rallied by about 1100 pips. A sharp fall in the average price of dairy products, during the August auction, weakened the Kiwi dollar considerably against the British Pound. Likewise, a strong
Read MoreUK Govt Launches Investigation Into Pension Freedoms Scheme
The UK Government introduced the Pensions Schemes Act in 2015 to give its citizens the freedom and choice in using their retirement funds. When the act was passed, a number of parties voiced their concern as there were quite a
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