Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
People
Bank of Egypt Mulling For Tougher Foreign Exchange Regulations Cracking Down The Black Market
A black market for dollars has absorbed liquidity from the Egyptian banking system over stressing country’s foreign reserves. Egyptian pound has been weekend ignoring several steps adopted by CBE. Finally, it has started mulling to enact tougher regulations on regulating the foreign exchange market.
Capitalism vs Nationalist Emotions: London Exchange Considers Consensus Poll
London Stock Exchange has been considering for holding a consensus poll on its proposed controversial £21 billion merger deal announced on Wednesday. Deutsche Boerse CEO has warned of possible American investment if the proposed deal fails to take place. However, the information of polling has fueled debates while analysts consider those as irrelevant.
As Problem With Sycamore Worsened, Aeropostale Can Use Its Instagram Star
Bethany Mota, the YouTube and Instagram star may be the last hope to help Aeropostale. The retailer can bring millions of Mota's follower in Instagram and YouTube to the store.
Discount retailer Aldi to hire 700 apprentices, open 1000 stores in UK by 2022
German discount retailer Aldi will hire 700 apprentices this year, twice of its recruitment in in 2015. Aldi has set a target of 1,000 stores in the UK by 2022.
Latest News
China and U.S. has been competing for a place in the economy and politics of Cuba. China has been doing business with Cuba for several years and the U.S. is just making a start. The edge that Washington sees is the proximity as being Cuba's neighbor.
The US automobile industry will have the automatic emergency braking system in place by 2022. About 20 automobile manufacturers representing over 99 percent of US automobile industry have agreed to implement automatic emergency braking system in their vehicles.
Recently unveiled new Brokaw Act is a Congressional effort to regulate activist funds. The new act aims at regulating activist funds. Democratic Presidential candidate Bernie Sanders and Massachusetts senator Elizabeth Warren have co-sponsored the Brokaw Act.
Chancellor George Osborne has announced a £1-billion rescue package for trouble-hit North Sea oil industry. The government is also extending £730 million support for renewable electricity.
Use of cannabis is very common in the island state of New Zealand. Around 42% of all aged Kiwis have reportedly tried the most popular but illegal substance. However, the island nation is going through acute shortage of weed due to drought, flood and intervention from the law enforcers.
Pacific Exploration & Production Corp is actively examining six buyout offers. The Canada-listed company is in the process of avoiding bankruptcy. The company's board is likely to take its final decision by this weekend.
TransCanda has announced on Thursday its acquisition of Columbia Pipeline for $13 billion in total, enabling the energy giant to represent itself as a dominant player in the businesses of natural gas across the North America. The deal appears following a series of announcement for merger in the energy sector including $2.3 billion deals in 2016.
EDF has been witnessing a stretched balance sheet mainly due to lower power tariff. The French utility’s CFO has resigned this month protesting go ahead with the Hinkley project citing its indebted status. However, French government has assured of financial bailout for EDF to go ahead with the project considering future business prospect.
Bouygues SA is probably going to be acquired through a multi lateral deal. Though the deal appears for €10 Billion in total, Altice will have to pay €4 Billion. The rest deal amount will be paid by Orange SA, SFR and Illiad SA.
