The Japanese telecom giant, SoftBank, has announced buyback of shares amounting to $4.4 billion, its biggest repurchase ever. This move is a desperate attempt by the company to regain its footing after its shares plunged to an all-time low following the company's overseas investment in US mobile operator, Sprint.
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Anglo American Plc Announced to Sell Its Share in Kumba Iron Ore
One of the world's biggest mining company Anglo American Plc announced to sell its share in Kumba Iron Ore on Tuesday. The South African multinational company has suffered loss in its full-year performance.
Marijuana Sales Hits Nearly $1 Billion Mark In Colorado
Marijuana sales in Colorado has hit the massive $1 billion mark. After legalization of the cannabis for medicinal and recreational purposes in 2012 the sales has increased by 42 percent over the last year. The state would reportedly use about $35 million of the tax profit for construction of schools.
Smartphones: Samsung Galaxy S7 and LG G5 Information Leaked Ahead of February 21 Schedule
Samsung Galaxy S7 and LG G5 were set to be introduced on February 21. However, both the device’s details have been leaked on the internet, revealing most of the phone’s highlighted features. Both the 2016 flagship device will have a fingerprint scanner, along with other innovations.
India's Startup World Is Like That of China, Gaining More Investment When China Is Slowing Down
There are similarities between the India's startup world with China's startup. It can be seen from the kinds of startups that are developing right now, and also the fund size raised from the investors.
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BoK has decided to keep hold benchmark interest rates in place on Tuesday. To tackle the ongoing sluggish economic growth, South Korean government has unveiled a stimulus package on February 3. BoK is predicted to analyze the impact of the stimulus package and hence opts for keeping rates unchanged.
Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais SA, a Brazilian steel producer, is in the process of offloading its manufacturing unit. Usiminas has already hired Credit Suisse SA as its financial advisor for the unit sale. The sluggish global economy and China's economy slowdown are impacting the Brazilian steel industry in more negative way.
North Korea has been using giant statues as propaganda tool for more than 50 years. Now, it has exported locally crafted giant statues to increase the country's income.
Iluka Resources said it will cease production in zircon operation at Jacinth-Ambrosia project in South Australia following fall in zircon prices. The company's decision will positively impact the global market.
National Australia Bank posted an 8% increase in its quarterly cash profit helped by robust results in wealth sector and rise in lending volumes.
The 27th largest diamond in the world was just discovered in Angola. The spectacular diamond has been estimated to worth $20 million Australia or $14.3 million USD. The diamond was found under an Australian company in partnership with some Angola's companies.
The Wikimedia Foundation received a $250,000 grant to support its early stages of search engine project, The Knowledge Engine. The project will develop a search engine that goes across Wikipedia and other Wikimedia’s services, allowing users to obtain relevant information more easily.
David Tepper, the pioneer in distressed debt, buys millions of shares in Energy Transfer Partners and Kinder Morgan in the face of plaguing oil slump and toxic energy market. He has tapped these pipeline companies after strengthening his US equity holdings by 56% last quarter.
The market volatility, rising dollar and sluggish global economy are forcing foreign investors towards the US small business credit market for growth opportunities. Foreign investors generally prefer to invest in US treasury bonds. But the prevailing global conditions are propelling them to park their funds in small business credit market.
