Alibaba Pictures Group announced Friday that it lost 151.8 million Yuan ($24 million) in the first half of 2015. The loss is due to the transformation the company is undergoing. According to the company, most of its projects are still under the investment stage, and its profit is not yet included in the revenue report of the period.
Investors
Led by US, foreign investors hold 54% of UK stock market
The holdings by rest of the world in UK stock market in 2014 stood at 54 percent and this remains at the same level of that in 2012. However, there's much increase in foreign investors' holding when compared with 31 percent in 1998.
BNY Mellon worked overtime to fix pricing glitch, now back to normal
After suffering an excruciating computer glitch that caused pricing problems, Bank of New York Mellon Corp's calculating system seem to be back to normal now.
China shares recover early losses, other Asian markets up
Chinese stocks recovered from sharp losses after a roller-coaster ride Wednesday. The benchmark Shanghai Composite Index had dropped 4%, before settling at 3,160.17, 0.2% down from the previous close.
Teen retailer Forever 21 turns to outside investors for $150M loan
Teen fashion retailer Forever 21 Inc is not seeing enough growth and is turning to Wells Fargo & Co. and TPG for a $150-million-loan aide. For over a dozen years, this fast-growing retail store has won the hearts of young shoppers and wiped out rivals with its trendy fashion and affordable prices, with $7.90 jeans and $8.90 cardigans. But lately, there are reports that the company is struggling to fill productivity.
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The US stocks turn attractive on lower PE ratios. The latest market crash might have eroded $2.1 trillion value in the market capitalization in the US stock markets, but equities are no more overpriced as price-to-earnings (PE) ratios turn attractive. According to ConvergEx, after the recent 10 percent drop in the US markets, no one can say that American stocks are expensive.
The stock markets last week witnessed shifting of priorities to gold and money markets funds as high volatility make equity markets uncertain following the steep fall of over nine percent on Chinese market on opening day of the week Monday. This has led to record outflows from equity funds during the week.
South Carolina - The Republican billionaire presidential candidate, Donald Trump, on Thursday, said he would decide in time if he will sign a pledge for the Republican presidential nominee. South Carolina Republican Party requires signing the pledge in order to vie for SC's critical primary.
Even giant Goldman Sachs has been adversely affected by the stock market chaos, as its 2015 distress trading desk lost about $50 million to $60 million.
As panic ensued when the Dow crashed to 1,000 points Monday right after the opening bell, some investors complained on Twitter that they weren't able to log into their online stock accounts.
Another wild day of trading gripped Wall Street Tuesday. Many were hoping stocks would recoup losses from Monday's massive selloff, as all three major equity indexes surged during early sessions. But, as trading drew to a close, their gains vanished.
Selling on Wall Street was so drastic Monday that the stocks and exchange-traded funds went through unprecedented emergency halts 1,200 times.
Since European Union's economy is finally recovering, a noted economist proposes three significant areas that U.K. officials should focus on to sustain its growth: medium-sized businesses, overseas trade and linking of geographic powerhouses to maintain the economic model.
In an unprecedented move, the stock price of world's most diversified business conglomerate fell 21 percent on the Wall Street. The shares of General Electric (GE) suffered biggest loss ever since the Black Monday in 1987 eroding the company's value by a whopping $53 billion.
