Two of Ted Cruz's Super PACs have challenged Donald Trump to debate the Texas Senator. The debate is to be done before January 31 and if Trump accepts, the Super PACs would donate $1.5 million to veterans' charities.
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Oil price may rebound 50% in 2016
The latest forecast indicates 50 percent rebound in oil prices by the end of 2016. The oil price could be higher by $15 per barrel this year taking the New York crude to $46 a barrel by fourth quarter and Brent to $48 during the same period. The drop in US shale output is likely to drive oil price up in the second half of 2016.
Xerox splits into two; Carl Icahn to get 3 berths on board
Xerox Corporation will be split into two separate business entities for hardware and services businesses. It's learnt that activist investor Carl Icahn will get multiple positions on the boards of the two companies including three on the board of services company. Xerox's fourth quarter numbers are expected to be released on Friday and an official statement about division may also be announced simultaneously.
McDonald's is Facing a Lawsuit of $5 Million Over Claim That Its Mozzarella Sticks are Cheese-less
The lawsuit is cast out by more than 40 customers, led by Chris Howe. The lawsuit stated that McDonald's aired unfair advertisements with the claim that its new menu item contains 100 percent pure mozzarella cheese, while according to Howe they contain filler. The lawsuit tests support the claim, but McDonald's has refuted the claim.
Employment Rates: German Job Rate Increase Near EU Record Due to Participation from Female Workforce
Reports show that 73 percent women were joining the workforce in 2014, compared to 63 percent in 2005. The rise has also pulled the overall employment rates up for Germany at 78 percent. German's employment rate is growing faster than any other EU country, although the record remains to be held by Sweden.
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Hershey, the leading chocolate maker, has shifted gear in 2016 and plans to focus more on its newly acquired meat brand, Krave Pure Foods Inc. With changing food habits, the market is now ready to accept snacks that are more rich in protein and less in sugars, and with this move, the sweet maker is all set to tap this niche market.
The Singapore's authority announced that it has seized a large number of bank accounts in a probe into alleged misappropriations related to 1MDB. Details regarding the bank accounts will be shared with investigators from Switzerland, United States and Malaysia.
21 people were arrested by the Chinese police on account of a huge online financial scam. The P2P online lender Ezubao had almost pulled off the biggest scam in wealth management product industry, with almost 900,000 investors losing around $7.6 billion (50 billion yuan).
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.
Huge hedge funder Paul Singer donated 2.5 million US dollar, while his friend Cliff Asness, an investment magnate, sponsored 1 million US dollar to super PAC.
UK mortgage approvals grew to a four-month high in December, signifying that the housing market is ready to harvest heavy gains in 2016.
Rolls has defeated joint venturing General Electric and Pratt & Whitney while being awarded a £6.1billion deal with Emirates during April last year. Now the British car manufacturer again succeeds in snatching another deal worth $2.7billion with airline company Norwegian. The recent achievement is believed to accelerate Rolls CEO’s ongoing overhauling efforts aiming to establish transparency and cost cut of $200 million a year by 2017.
US Dollar has been witnessed to gain some value against yen in both Tokyo and Japan on Monday. The appreciation of dollar has taken place due to BoJ’s surprise move for slashing the interest rate to (-) 0.1%. Even BoJ Governor has hinted further rate slashing events, if situation demands. But economists have referred the attempt as an attraction drawing stance aiming to prevent yen from rising to boost up the sluggish economic growth.
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.
