Being faced with several odds in Russia, Deutsche Bank has decided to withdraw some of its services from Russia. The alleged share trading by Russian unit of Deutsche Bank has become subject to investigation in the US. The German bank may stop 90 percent of its banking services in Russia soon.
Country
China growth rate may slip below 7% in Q3
The global markets witnessed major crash in August following the China's economy slow down, Yuan devaluation, discouraging manufacturing numbers, etc, Now, the markets are recovering. But, economists, fund managers caution that the party is not over. China may slip in recession in next quarter or six quarters later.
Oil price further skids on renewed global concerns
Oil prices dropped further on Friday trading following the alert from the US Central Bank that global economy is weakening. Adding to this, indications that Organization of Oil Exporting Countries (OPEC) would keep up oil production, in order to maintain its market share, also further dampened the market confidence. Equities on the US and European stock markets opened lower. The fundamentals seem to have turned bearish, fell the analysts. Oil price is expected to be $80 per barrel by 2020.
Cuba renews drive for UN to condemn US embargo
Cuba renews its annual campaign urging the United Nations to condemn the US economic embargo. Foreign Minister Bruno Rodriguez told media the Cold War-era embargo had cost Cuba some $833.7 billion over five decades. "Seventy-seven percent of the Cuban population was born and has lived under the cruel effects of the blockade, the humanitarian impact and damage is extreme and cannot be measured (only) in numbers," he said.
American Airlines halted U.S. flights after a technical problem
American Airlines halted flights due to technical issues on Thursday, 12 noon. Chicago, Miami and Dallas airports have been affected. The operation was resumed around 2 pm. The Federal Aviation Authority tweeted that American Airlines flights to and from Chicago O'Hare, Dallas-Fort Worth and Miami were halted temporarily, "@AmericanAir requested a ground stop for all of their traffic in and out of DFW/ORD/MIA due to their computer issue," The Independent reported.
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Disney veteran animator Glen Keane shows how he creates virtual characters in a video sponsored by "The Future Of Storytelling" event in New York.
The latest data for August shows that Russia's economy is showing signs of slowing down. But the rate of decline is moderating, the real sector data is giving a sigh of relief as the worst conditions in the economy are softening, if not improving.
It's a never-ending issue for McDonald's and other restaurants until they cease using antibiotics with their meat products. McDonald's received a "C" score for antibiotics overuse.
Fiat Chrysler Automobiles and the United Auto Workers union reached a new agreement regarding the company's health care and salary system including the 2-tier pay. The new term was discussed after some 40, 000 of the company's worker threaten to go for a strike that could potentially put the production on halt.
Avon stock price has declined because it refused to go with the flow of the modern day industry where a lot of businesses make use of social media and other means to promote their products to drawing customers and generate larger revenue.
Global cable group Altice is acquiring New York-based Cablevision for $17.7bn including debt. This makes Altice as the fourth largest cable provider in the US. Cablevision's CEO James Dolan will hand over the control to a group of Europeans after the Altice deal. Altice will pay $34.90 a share in cash taking the valuation of Cablevision equity to $9.6bn.
American technology giant in global database industry Oracle Corporation is shifting its focus on cloud offerings. Of late the database major has been facing stiff competition from new technology companies which offer cost-effective solutions via the internet. The shift to cloud could affect Oracle's revenues coming from business fee from existing customers running Oracle software at their data centers, analyses technology experts.
A tame inflation complicates the Federal Reserve's decision whether to raise interest rates this week. Data show that despite many signs of economic improvement, the pace of growth of US consumer prices last month was well below the central bank's target.
The recent survey from Reuters shows that U.S. universities are the home of the most innovative projects. Though Asian universities have been fairly competent with universities from Korea, Japan, Singapore, and China.
