There are mixed opinions coming from the US Central Bank in the past few weeks, but the Federal Reserve policymakers aren't really as divided as they seem as they work under the same framework in determining when to increase interest rates.
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China's economy posts weakest growth in six years
China's economy grows at its slowest pace in more than six years in the third quarter. Gross domestic product between July and September expanded 6.9% from a year ago, its weakest since the first quarter of 2009. While that is better than the forecasted 6.7% growth, it is lower than the 7% recorded in the first two quarters.
Sony agreed to pay $8M settlement to its employees
Sony Pictures Entertainment has agreed for an $8 million settlement with the company's former and current employee after its data was stolen in a cyber attack launched by North Korea. During the breach, information of its employees was stolen resulting in a mounting of lawsuits from each employee involved.
Irish High Court to investigate Facebook's transfer of European users' data to the U.S.
The Irish court orders to investigate Facebook's transferring of European user's data to the United States. This is to ensure that the European user's privacy was protected from the U.S. surveillance.
Lyft Offers DeLorean Ride in Celebration of 'Back to the Future'
Since October 21, 2015 is the day that Marty McFly and Doc Brown arrived in the future in 1989 hit sequel movie "Back to the Future: Part II," ride-hailing service Lyft offers New Yorkers a ride in a DeLorean, the time-machine car used in the franchise.
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Blackstone Group LP, the world's largest private equity firm is expected to be the next firm that will acquire the 11,000 apartment complex in Manhattan's Stuyvesant Town. Although the deal is not official yet, news has been circulating that the complex will be acquired by the firm for a value around $5.3 billion.
CIA director, John Brennan's AOL email has been hacked. It was claimed by a high school student with the Twitter account of @phphax. The student cracker forewarns Donald Trump and Hillary Clinton as his next target.
China uber-like startup, Yidao Yongche announced that the company will be receiving a huge investment from a Beijing-based company, LeTV. According to Yidao Yongche's statement, the three-year-old company is receiving investment worth $700 million by LeTv for 70 percent stake in the ride-hailing app company.
China biggest e-commerce company, Alibaba is currently improving their effort to engage with the U.S. Trade Representative to make sure its site will stay out from the agency's list of websites selling pirated and counterfeit goods. The company's affair chief, Eric Pelletier is among the person responsible in lobbying the agency.
SanFrancisco-based financial services company Square has announced the appointment of Jacqueline Reses, outgoing chief development officer of Yahoo, as its head of its business financing division Square Capital. Square is in the process of going for an initial public offer (IPO). Square wants to send a message to the capital market that how strong is its top managerial board. The hiring of Reses will enable Square Capital to tap potential areas of business growth where traditional business firms ignore.
International Business Machines Corp (IBM) has announced more than projected fall in revenues as the stronger US currency put pressure on demand from China and other emerging economies. As a result, IBM has lowered its profit forecast for the full year. The revenues were down 13.9 percent to $19.28billion for the quarter ending September as against the forecast of $19.62bn. The latest drop in revenues marks the continuous fall for 14 quarters in a row.
The world's second largest economy witnessed its lowest growth rate in the last two decades. China's gross domestic product (GDP) growth rate dipped below seven percent during the third quarter for the first time after the financial crisis. A record of 6.9 percent, below the Chinese government's target of seven percent and slightly better than the forecasted 6.8 percent. This is translating into more pressure on the Chinese government to lower interest rates and some measures to strengthen the growth rate.
Too much drinking is not only bad for the health but also seeps out the U.S. economy. The Centers for Disease Control and Prevention (CDC) released a study on Thursday that binge drinking loses the economy a humongous "$249 billion in 2010, or $2.05 per drink, a significant increase from$223.5 billion, or $1.90 per drink, in 2006."
Numerous miles and points blogs would always mention the benefits of gift cards with some regularity. Moreover, most of travelers want to use gift earning credit cards so that they can earn miles and points for purchases.
