Amazon launched its Black Friday Deals store in the first day of November as start of a countdown to one of the biggest shopping days of the year.
Industry
HSBC and JPMorgan Chase Must Increase Their Cash Reserve According to New Rule
When Lehman Brothers collapse in 2008, it created a global economy setback. Global financial authorities work hard to prevent it from recurring. Now, they introduced new rules for the world's biggest banks to increase their cash reserve and avoid taxpayers bailouts.
Retailers bracing up for big holiday season; hiring in full swing
US retailers have started flexing their muscles to meet the buying demand during the forthcoming holiday season. Retailers such as Amazon have started hiring in number running over thousands.
Banana Republic sales drop hits Gap Inc's stock on Wall Street
The Gap Inc (Gap Inc) share fell over five percent to $27.69 and later rebounded to $28.45 a share on funds buying support on New York Stock Exchange (NYSE).
German Industrial Production down 1.1%
German industrial production went down 1.1 percent month-on-month for the third quarter. According to Bloomberg Business, Berlin Economy Ministry reported the decline Friday, while economists expected a 0.5 percent increase. Germany has been struggling with the Chinese economic slowdown. The country is also grappling with the economic slowdown in other emerging countries where it exports most of its products.
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Contrary to economists' expectations, the number of approvals in UK mortgages suddenly dropped in September for the first time in the past four months. The mortgages rose significantly in August indicating the highest level since early 2014.
Gold prices are at their lowest in three weeks after the Federal Open Market Committee announced that they won't push through with the interest rates hike.
The commodity slump caused by China is adversely affecting some of the biggest raw material markets in the world, and now it shades the sparkle that Canada's Arctic diamond industry once had.
Iron ore futures approached $50 a tonne Monday, the lowest it has been in three months, going down almost 10 percent in just two weeks. Reuters reported that the $50 a tonne price is a sign that losses will continue after Dalian futures slumped lower on Tuesday as Chinese steel producers cut output due to the decline in demand of iron ore.
Usage of marijuana has been doubled over the past years as laws and attitudes toward the drug dramatically transformed. Entrepreneurs of marijuana will choose their ambassadors to be users to relate the benefits of their products to customers.
For over two years, Chipotle has the worst quarterly sales growth of 12%. Chipotle used to have an outstanding speed when comes to sales growth, but now for four consecutive quarters, its sales growth has been plunging.
The strengthening of the US dollar has been hitting Procter & Gamble hard as the company reported its biggest sales drop in seven quarters. The company also cited weak demand especially in the overseas market as the reason behind the low sales performance.
Report on Coca-Cola profit and revenue this quarter shows a drop of nearly 5%. A strong dollar has resulted to a less value in Coca-Cola revenue from outside North America. The global economic slowdown also affected Coca-Cola revenues resulting a revenue cutback.
India, the world's largest democracy and home to highest number of movies, is struggling to perform at box office collections. There's no correlation between the number of movies released every year and revenues they generate for the film industry. The India's film industry is just grossing mere $2billion every year at the box office while it registers about 2,000 movies annually. Considering the number of movies it makes every year, India should have been leading the world in terms of revenues as well. But it couldn't as the piracy alone eating into INR19,000 crore ($3.34billion) revenues every year.
