Gold fell more than 1 percent to a five-year low on Wednesday as a bounce in the dollar fueled downside momentum, with investors continuing to pull away from the metal after its dramatic slide earlier this week.
Industry
London's Deliveroo sealed $70M funds to develop its food delivery service in Europe, Middle East and Asia
Deliveroo, the startup food delivery company in London has gained investment from Index Ventures and Greenoaks Capital for its third round in the past 12 months. The food delivery service has just sealed $70M, equivalent to £45M funds, to support its plan to enter international services.
Gold price meltdown continues; poised for further drop
The gold price drop last week showed its lowest since 2010 and the yellow metal is poised for further fall likely to record biggest monthly drop in the past two years.
Foreign insurers taking cautious look at Iran after nuclear deal
Western and Middle East insurance specialists see Iran as an appealing $8 billion (£5 billion) market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country with caution.
McDonald's suffers drop in sales
McDonald's suffers drop in sales after losing business to other food chains. Its rebound plan fails to deliver the desired results, focusing more on popular regional menu items.
Latest News
Amazon Inc., through its subsidiary Amazon Web Services (AWS), will be building a 208 megawatt wind farm in North Carolina. The wind farm will be built and jointly operated by AWS and Iberdrola Renewables, LLC of Portland, Oregon, and is the first utility-scale wind farm in the state.
Some of the top American companies have joined hands to form the 100,000 Opportunities Initiative with a commitment to create economic opportunities for the youth of America. It aims to be the country's largest employer-led coalition with a goal to provide 100,000 young people with employment opportunities by the end of 2018.
U.S. retail sales unexpectedly fell in June as households cut back on purchases of automobiles and a range of other goods, raising concerns the economy was slowing again.
Citibank is testing on a new digital currency Citicoin at this point, handling a run-through platform and evaluating key measures. In line with this, the premier bank is also suggesting the U.K. government to provide its own digital cash.
The New York Stock Exchange was forced to suspend trading for several hours on Wednesday in the biggest outage to hit a U.S. financial market in nearly two years, unnerving investors already rattled by the meltdown in Chinese stocks and the Greek debt crisis.
Metals company Alcoa Inc reported a quarterly profit that missed expectations due to plunging primary aluminum prices on Wednesday, but revenues topped estimates on an ongoing drive to reduce reliance on the company's legacy commodity business.
The Australian state of New South Wales has proposed changing its mining approval process to give greater consideration to environmental concerns, potentially threatening a colliery expansion planned by mining giant Rio Tinto Ltd.
A dozen of the largest Wall Street banks on Monday published detailed plans to show how they would shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators.
China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world's second-largest economy.
