Gap Inc reported its sales results for the month of March. The retailer saw a decline in March sales, which pushed the shares down around 10%.
Industry
Asian shares, oil, bonds move up ending bruising week
Oil price, Asian stocks and bond yields were trading marginally higher on Friday ending the week on positive mode. Japanese currency Yen continued to rise against US dollar and this also further aided Asian stocks.
Argentina to push $12.5bln bond offer in US, UK
Argentina government will market its $12.5-billion bond offer in North America by organizing road shows in New York, Washington and Los Angeles. The $12.5-bln bond offer will be marketed in the US and the UK.
Major Oil Companies Fund Nigeria's $200 Million Fuel Imports
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Regulators Aim To Govern Fintech To Protect Billion Dollar Market Opportunity
Financial tech and its $147 billion potential market opportunity required financial regulators to supervise the industry. In 2015, investments in the fintech sector doubled, reaching $14 billion.
Latest News
Google will provide seed funding in Asia's renewable energy that will start off in Taiwan. Through the Center for Resource Solutions, the funds will be used to set up renewable energy certification programs.
Sprint has announced on Wednesday raising $2.2 billion fund through selling and leasing back of network assets. The complex transaction structure has been facilitated by the internet carrier’s parent company SoftBank Group. Sprint chooses this deal out of other available options to remain solvent for more than 2 years.
Three Volkswagen dealerships operating in Illinois and Florida has sued the German automaker for being deceived through the diesel-gate scam. The dealerships also accuse VW for illegally favoring some dealers and forcing retailers into financing arrangements with a company-lending affiliate. The plaintiffs have sought class status for the suit and appropriate compensation from the accused.
Pfizer and Allergan will have to scrap the merger deal following the new regulation from Treasury Department to stop the U.S. company moving overseas.
Philips is seeking to invest in healthcare technology start-ups in India, following other Fortune 500 firms in the world in empowering India's steadily growing start-up economy.
One of India's largest highway and road developers prepared to recover after a massive loss in Wednesday. The company's stock slumped following the raid of tax officials.
Apple Inc released an update for its OS X simultaneously. The iOS 9.3.2 for iPhone, iPad, and iPod was released for developers, along with watchOS, tvOS and Mac OS X 10.11.5.
Plunge of indexes brings the market to negative territory. Financial sectors led the plunge over fear of global financial slowdown.
The Korean electronic giant predicted a high increase of profit in its earning guidance. Successful sales of Galaxy 7 flagship product is the main contributor for the profit growth.
