India's richest man Mukesh Ambani lost a total of 24% of his wealth after the valuation of the rupee decreased.
Industry
Brazil Real surges on USD60 billion plan
The central bank of Brazil had created an intervention plan of USD60 billion in loans and foreign currency swaps as inflation threatened the country's economy following the plunged of the real to a four year low this week.
Levine says backups not enough in stocks
Inventor John Levine of Nasdaq's exchanges systems said that the stock markets needed to be designed properly following the system breakdown yesterday which halted trading for three hours.
Corruption trial showcases pervasive corruption in China
The corruption trial of former politician Bo Xilai showcased the extent and pervasiveness of corruption in China.
Two incidents show vulnerabilities of American trade markets
The recent NASDAQ shutdown showed to all the vulnerabilities of the US Stock Market. The recent technological breakdowns have exhibited the vulnerability of the US stock market to these kinds of issues and glitches.
Latest News
The German private sector showed robust growth in August, according to Markit's PMI survey. The private sector in Germany showed signs of growth. A new survey conducted by financial information services company Markit revealed that the Purchasing Managers' Index (PMI) of Germany's private sector increased to 53.
L'Oreal's planned expansion into China's beauty markets had been burdened with complications as the country mandates animal testing for every new product introduced to Chinese consumers.
Today, Unite US said that it had raised USD2 million in seed funding and plans to launch publicly this fall.
After Everbright Securities Co. made erroneous buy orders of CNY23.4 billion last August 16, the state-backed firm suspended the head of its proprietary trading division.
Sale of existing homes in the United States increased in the month of July, suggesting housing market recovery.
Sergei Shvetsov was named as the head of a new Russian "mega-regulator" to oversee the country's financial markets.
A state think-tank said Chinese banks have reduced loans on property developments in smaller cities because of the glut in unsold homes there.
Facebook Inc unveiled new project, Internet.org to provide online access to more people around the world.
Vietnam announced plan to ban free chat applications to protect network providers in the country. The Vietnam government proposed a possible prohibition of free Internet chat applications.
