Anbang Insurance is acquiring Allianz’s operations in South Korea after dropping its offer to buy Starwood hotels. The deal is waiting for approval from South Korea’s financial regulator.
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Capital outflows to push emerging markets into crisis, cautions IMF
International Monetary Fund (IMF) has warned that slower growth rates among emerging markets are causing cash outflows and could cause another bout of crisis. Narrowing differential in growth prospects between advanced and emerging economies may add to the crisis situation again.
Valeant Stocks Continue to Rally in Two Days After Comment from Bill Ackman
Bill Ackman made nearly nearly $170 million in one day in a Valeant two-day rally. His comment on Valeant Pharmaceutical showed his capability as a remarkable hedge fund manager.
3D Printing Pen, BioPen, Will Enable Surgeons Draw Stem Cells Onto Patients' Bones and Joints Directly
BioPen uses 3D bioprinting technology to enable surgeons draw viable human stem cells in order to reconstruct bones of damaged joints. The product is still at the R&D stage and is still being actively tested and improved.
Clothing and Accessories Emerged as The Biggest Category in E-Commerce, Outpacing Computer Hardware Sector
Clothing and accessories sector is outpacing other sectors in e-commerce sales. Some factors, including better shipping and return policies and changes in mobile uses, are encouraging more people to make more small purchases online.
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Alibaba Group has completed acquisition of South China Morning Post. To put a footstep with revealing the acquisition, readers have got free access to the once subscribed online newspaper. The move allows the 113-year-old newspaper to approach towards becoming a global leader in news arena.
Hennes & Mauritz's quarterly sales including VAT rose by 9% in domestic currencies. The company's quarterly profit declined 30% as dollar increased over local currencies.
Glencore is possibly nearer to a deal with Canda’s largest pension fund to sell 40% stake in its agriculture business. CPPIB has agreed to pay $2.5 billion against a total valuation of $6 billion. However, there is no guarantee that the deal will surely take place.
Pfizer, a US-based drug company, is said to dismiss its merger deal with Allergan. The US drugmaker wants to quit from the $160 billion merger deal since Washington authorities set new rules, making corporate inversions harder.
Stock prices in the Asian markets gained on Wednesday following a steep decline in the past session. Asia-Pacific shares excluding Japan in MSCI increased 0.1% during the early trading session after a 1.6% fall in the previous day.
Societe Generale said that it stood by all the rules of its operating nations. The bank confirmed that it no longer detained any establishments in the process in the Non-Cooperative Countries and Territories.
Lumber Liquidators won a civil case, which had alleged the company for violating a state law in California that urges companies to report warnings regarding the possible harmful substances in their products.
Wal-Mart pledged not to sell eggs from caged hens by the year 2015. It supports the advocacy of the well treatment of the fowls assuring it has enough food and space to roam around and free from mental distress that result in more egg production.
US oil prices gained 5.18 percent owing to an unexpected drop in domestic crude stockpiles. US crude stocks eased by 4.9 million barrels last week as imported declined.
