Industry
Tesco Sales Improved: Rise in Sales Attributed with Christmas 2015
The news came as a surprise because previously the grocer had faced significant drop in sales and shares. Tesco also reported its lowest-ever sales last year on April. Other grocers also reported better sales than predicted.
Sainsbury’s and Wesfarmers show keen interest to buy out Home Retail Group companies
Two big names, Wesfarmers and Sainsbury's, are vying for the Home Retail deal, despite warnings sent out by the seller itself regarding low profit expectations. While the deal seems to be in favor of Wesfarmers, Sainsbury's is not out of the picture yet.
Inflation in Argentina at historic high 21%; government targets 5% by 2019
Argentina is struggling from soaring inflation, which is hovering at 21 percent. The inflation rate is expected to reach 25 percent in 2016. The government is targeting to bring it down to five percent by 2019. The soaring prices are forcing consumers to pay everything in installments.
3 American banks earn $6 bln from overdraft fee, ATM
JPMorgan Chase, Bank of America (BoA) and Wells Fargo earned over $6 billion from ATM service and overdraft fees. For the first time, US government in 2015 allowed banks to disclose details from ATM and overdraft fee revenues. The US banking consumers pay in the range of $4 to $5 to withdraw money from an out-of-network ATM.