Cuadrilla Resources suspended its oil drilling exploration in Balcombe as anti-fracking protests intensified.
Industry
Increase in retail sales sign of better US economy
Retail sales in the US rose in July, signifying better times for the US economy. The Commerce Department revealed that US retail sales rose to 0. 2% in July.
US regulator subpoenas metals warehousing companies
A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.
Financial sector near to recovery of S&P top spot
Studies by financial analysts indicated that the banking sector is recovering and may regain top spot on S & P.
Itau to contest USD8 billion tax charges
Itau Unibanco Holding SA will contest tax charges amounting to BRL18.7 billion (USD7.9 billion). Latin America's largest bank in terms of market value, Itau Unibanco Holding SA received tax charges amounting to BRL18.
Latest News
Land auction for the economic zone in Shenzhen failed to draw property developers from Hong Kong. Despite the hype that accompanied the economic zone development in Shenzhen, Hong Kong property tycoons were not lured to bid in the recently-completed land auction.
Russian media that reported Rostelecom would be offering a 30% buyback of its shares worth USD 909 million from its minority stakeholders.
The Philippine Department of Transportation and Communications said it is eyeing the possibility of rebidding the LRT-1 Cavite extension project under revised terms.
China Resources Land Ltd bagged the right to buy a commercial site in Shenzhen for USD 1.8 billion. China Resources Land Ltd won the right to buy a commercial site in Shenzhen.
Japan Tobacco International said they will continue to grow in the Philippines despite higher taxes on cigarettes.
Retail company Macy's blamed shoppers' current spending habits for its second quarter sales.
Political unrest in Egypt affected both small-scale and large scale business. Observers fear it would get even worse.
Sources told Reuters if the government's anti-trust case against the AMR-US Airways merger prospers, AMR would have to go back to the drawing board and investors would suffer.
Cisco Systems announced it would be whittling down its workforce by 5%. Cisco Systems Inc announced it would be reducing its workforce by 5%. The move would affect 4,000 jobs.
