After a massive loss of $4.3 billion in Q4, Yahoo will struggle much more to return to profitability. The Internet company decided to cut its employment by 15%, close some offices and explore strategic alternatives.
Investors
China's gold demand rises as investors seek safe haven
The gold buying demand from China is surging from last December onwards owing investors' priority to safe haven assets. The sluggish stock markets, weaker currency and lower global prices are prime reasons for the rising demand for the yellow metal. The consumption rose 3.7 percent to 985.9 metric tons in 2015.
Cheap oil benefits consumers, hits governments
The lower oil price for about 19 months is benefiting the consumers, but creating a lot of problems for the global governments and business firms. Many banks and the US government forecast oil price above $40 a barrel this year. The oil price fell to below $30 during the past 19 months from $107 a barrel.
Gramercy seeks over $1.3 billion from Peru
Gramercy said that it will pursue more than 1.3 billion US dollar from the government of Peru over a land bond clash. The dispute relates to bonds issued as per the military dictatorship in the 1960s and 1970s as reimbursement to farmers who lost their lands under the agrarian reform.
It's too early to dump Chinese stocks, Citigroup tells investors
Citigroup holds view that it's too early to come to a conclusion about the state of the world's largest economy. It advises investors not to offload stocks over China. Citigroup in its latest research reports terms the present uncertainty and sluggishness in the Chinese economy and markets as a 'correction.'
Latest News
China's benchmark Purchasing Managers' Index (PMI) fell to lowest in the three-and-a-half years. PMI was at 49.4 for January as against average forecast of 49.6. The PMI was 49.7 in December 2015. The disappointed China factory output data pulled oil prices lower.
China shares plunged Tuesday at 6.4%. The Shanghai index closed below 2,800 for the first time since December 2014. The condition has worried the investors for the capital outflow from China. Other Asian markets dropped as oil prices decreased.
Brazil, the world's number one coffee grower and exporter, has been hit by El Nino from last year, affecting the coffee crops and harvests. The weather has affected prices expectations and investors moves, as demand rise and supply declines. Coffee bean prices rise has been seen in Brazil.
Nigeria requires $3.5 billion funds to fill its $15 billion budget deficit. The falling oil prices are eroding revenues for the government. The largest economy in Africa is seeking $2.5 billion loan from the World Bank and $1 billion loan from ADB.
Credit Suisse Group AG and Barclays Plc will pay combined $154.3 million to settle regulatory investigations into their 'dark pools.' The New York Attorney General said that the fight against the fraud and rigging in the trading mechanism would continue further. The US Securities and Exchange Commission (SEC) observed that Barclays and credit Suisse have misled their investors by providing inaccurate information.
KFit, a fitness-sharing platform that based in Kuala Lumpur, has raised a $12 million Series A funding from Sequoia Capital, SIG, and Venturra Capital. The fund will be used to enlarge its services to cities in Asia. Offering a cheaper rate, KFit will compete with its Singaporean rival, GuavaPass.
Global investors are withdrawing from Russian stock markets as volatility is high in equities and currency Ruble. The continuous drop in oil price is impacting the Russian economy much as it's the main revenue source for the country. The gap between onshore and offshore traded equities is narrowing down as foreign investors are selling off.
Philippine's fourth quarter gross domestic product increased by 6.3% driven mainly by higher private consumption, government expenditure as well as an increase in economic activity.
Gold soared to three-month high early this week as investors switched over to safe have following the concerns about the global economy. The US Federal Reserve indicated a challenging global economy and this may not prevent it from raising interest rate. Gold price reached to $1,127.80 on 27 January and this propelled investors to book profits.
