Gap and Urban Outfitters showed top earnings in retail apparel. Top 2 apparel retail companies are set to report earnings as the back-to-school season starts next week.
Investors
Philippine Commission on Audit announces tighter guidelines for public fund release
The Philippine Commission on Audit asked the Department of Budget and Management to issue guidelines for the release of public funds for different local projects.
Bahrain’s Investcorp to sell Skrill for USD794 mill
Bahrain based Investcorp announced the sale of Skrill to CVC Capital Partners in a deal priced at USD79 million.
Best Reisen Ltd hits big losses due to Egypt troubles
The leading Hungarian tour company, Best Reisen Ltd announced bankruptcy after big losses on its Egypt and Tunisia tour packages.
Column: Bezos needs to relaunch a business model
It has been a week after Amazon founder Jeff Bezos announced acquisition of Washington Post, a deal said to be the convergence of old and new media.
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General Electric pursued its renewable energy program in Estonia after abandoning a solar plant project in the United States.
A newspaper reported that German regulator BaFin probed Deutsche Bank over its anti-money laundering control.
Cheraman Financial Services announced today a proposed plan of funding different infrastructure projects in Kerala.
Raifeisen Bank International CEO said financial investors would prop up its capital requirements. Raiffeisen Bank International, one of Austria's foremost banks, has said that part of its capital requirements would be met by financial investors.
In accordance with the new free trade zones, China planned to simply its legislation to attract foreign strategic and financial investors.
ShopRunner added to Alibaba's recent purchases made to help in the former's IPO. Recently, ShopRunner a private shipping company owned by Michael Rubin, sold minority stakes to Chinese e-commerce company Alibaba Group.
US anti-trust regulators filed a lawsuit against US Airways and American Airlines' USD11 billion merger saying that the deal would only result to higher air fares, service reduction and a strangled competition in the industry.
BBlackstone entered into talks with Goldman Sachs to purchase a minor stake in pensions and insurance company Rothesay Life.
Last Wednesday, North and South Korea said through a joint statement that it would reopen the Kaesong industrial zone to attract foreign investors.
