The International group of governments and central bank governors from 20 major economies agreed Saturday to hasten slow growth, saying the low interest rates will not be enough to accelerate economic improvement, but they are optimistic that growth will happen.
Regions
Housing boom in the horizon as market welcomes potential new buyers
As the supply for homes being sold goes down, statistics suggest an increase of potential buyers. This could lead to boom in house prices. Statistics from the Royal Institution of Chartered Surveyors (Rics) this week expects to see a surge in potential new home buyers as reported by This Is Money. As supply of houses being sold is dwindling, another boom in house prices could well be on the way.
Bearish divergence: Investors advised not to buy on dips
Going the by technical charts on S&P 500 index movement, the formation of 'Bearish Divergence' is a warning signal for investors not to take any fresh positions. The relative strength index (RSI) is moving downwards when equity prices are trending higher.
Egyptian billionaire Naguib Sawiris plans to buy an island for Syrian refugees; wants to name it 'Ilan'
Naguib Sawiris, the third richest man in Egypt announced he wants to buy an island either in Greece or Italy to relocate refugees from the war zone, Syria. He wants to name it 'Ilan' to remember Aylan Kurdi, the Syrian boy drowned on Turkish shore.
Jessica Alba's Honest Company Faces Lawsuit for Allegedly being "Dishonest" on its "Natural" Products
Jessica Alba's non-toxic household and beauty products business, The Honest Company, is being sued for "dishonesty." Jonathan Rubin filed a class action suit in the federal court of California against Alba's company for allegedly making false claims that their products are "natural." He also said some of the products weren't effective. Some of the products the lawsuit targeted included dish soaps, surface cleaners, nappies, and the company's sunscreen. Rubin claims that some of those products have synthetic chemicals, making them not "natural" as reported by International Business Times.
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The leading Irish clothing brand, Primark, tries to break through in the U.S. market this year. On September 10, it will open its first store in Boston, which will followed by seven other locations across the country.
As part of its business expansion drive, craft beer maker BrewDog is raising funds through Crowdcube, which is UK's biggest crowdfunding platform. The Scottish BrewDog will raise GBP 25million though two crowdfunding routes by next April.
BlackBerry Ltd announced Friday that it acquired Good Technology for $425 million to improve its position in the Apple world. BlackBerry expects to earn $160 million in revenue during the first year after the acquisition, which will close on November. This is according The Daly Mail UK. BlackBerry's shares listed in Toronto saw a 1.1 percent spike at C$7.97 in early during the trade. BlackBerry Chief Executive John Chen promised that their cash flow would remain positive overall. He said he sees a lot of opportunity to drive value for the company's stakeholders.
Gold Distribution and Gold ATM Vending Company, Zen Gold, is under heavy fire from Tony Hetherington. The British Entreprenuer claims that his investment in the gold company turned to dust.
In its effort to increase advertisement revenue, Twitter announces a global expansion for their self-service ads platform. According to Twitter, the service will now cover more than 200 countries from the previous only 33 countries.
Under Armour, Nike's biggest competitor in NBA sponsorship announced that they had signed a new deal with NBA. The deal according to USA Today, will make Under Armour the new NBA's partner for Jr. NBA and NBA Draft Combine. The deal means that future stars created from this program can be spotted early on by Under Armour and will be endorsed by them.
Tumblr, a microblogging website designed by David Karp has redesigned its reblogging feature. The reblog button which is the most use feature on Tumblr that allows the user to repost content from another website to their own will become more mobile friendly according to Fortune.
A reversal of roles takes place at Volkswagen AG, with the selection of its chief financial officer, Hans Dieter Pötsch, as chairman. The appointment dashes the hopes of Pötsch's current boss, Martin Winterkorn, of being chairman himself.
Despite Thailand's staggering economy, businesses still flourish and invest bigger budgets for digital advertising. The aim is to target Thai consumers through smartphone apps, social working forums, and video-sharing websites, as reported by Reuters.
