At the end of the month, Chinese stocks rallied and closed higher on Friday. Despite this, Shanghai Composite Index suffered its biggest monthly fall in the past seven years. The Chinese benchmark index Shanghai Composite tumbled 22.6 percent in January and this is the biggest monthly fall since October 2008. Chinese currency Yuan was marginally moved up against the US dollar on support extended by People's Bank of China (PBOC).
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There's No Stopping Facebook's Growth, Thanks To Mobile Users And Video Ad
Facebook's growth is just unstoppable. The number of the active users keeps increasing, as well as the revenue it gains. Most of the revenue is said to come from the Facebook Lite, which is usually used by users with less sophisticated mobiles. Besides that, video ad also gives many contributions as well.
Facebook Inc Posted a Strong Profit of More Than $1 Billion in Q4 2015
The social network giant posted a strong profit. On Wednesday, Facebook reported a $1.56 billion quarterly net income in fourth quarter of 2015.
SARB Increases Benchmark Rates, Commercial Banks Follow Trait, Job Cutting Feared
South African Reserve Bank (SARB) has announced increasing key interest rates by fifty basis points to 6.75% on Thursday. It has also slashed down growth forecast to 0.9%. SARB has increased the interest rates for the second time with an interval of weeks. However, the rate hike will influence the Banks’ expenses and banking industry may witness job cutting as cost minimization effort.
Tesla Denies to Launch Two New Cars in March
Tesla denies rumor that the electric car maker will launch two new models in March. However, the company will build a third generation platform for its vehicle to support its sedan and SUV model.
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As an investment bank, a problem in investment-banking operation will damage the overall performance. Deutsche Bank suffered its first annual loss since 2008, followed by drastic drop of its shares.
Amazon has become inspired by Prime’s offers for free delivery within two days against online purchases for more than $100. Instead of spending more for shipping, Amazon is slowly approaching towards own delivery system through purchasing trucks and building own warehouses. These efforts have engaged current assets and narrow down fourth quarter profit. But 26% rise in yearly sales indicates a very different outlook.
The house prices in UK grows slower than expected due to the mortgage approvals dip in the previous month. However, the number is still higher compared to the one in 2014. With some factors related to wages raise and unchanged interest rates, there is likely an increase in the housing demand shortly.
Federal Reserve Bank will issue a much tougher annual stress test this year. The test aims to prevent recurrence of 2008 crisis, analyzing resilience of 33 large U.S. banks against the worse-case hypothetical scenario..
BugSec and Cynet, two computer security companies have identified a security loophole in LG’s G3 smart phones. A built in app in G3 smart phones, naming Smart Notice, has enabled hackers to use the loophole to steal data. Upon information and following demonstrations from the researchers, LG has released a new version of Smart Notice containing a patch and urges users to run the new app ASAP.
Microsoft incomes have increased thanks to the rising Surface sales, as well as the cloud and server growth. They are the main contributors to the higher overall revenue. However, Microsoft Windows and phones are not in the same luck as their performances are still declining.
Microsoft Corp said its quarterly profit beat analysts' view, propelled by mounting demand for its cloud products. Quarterly net income, on an adjusted basis, amounted to $6.3 billion, up from $5.8 billion in the same period last year.
California becomes the pioneer state with new LED standards in place. The new regulation replaces the old traditional directional bulbs with the more expensive but energy-efficient LED ones. While more expensive, California Energy Commission promises huge benefits in terms of a bulb's longevity and, more importantly, electric bills.
The economy of Japan struggled last month according to a wave of data released by the Bank of Japan. The industrial production was down 1.4% over the prior month.
