Underlining the erupting problem of liquidity crunch in its financial system, the world's second largest economy's central bank the 'People's Bank of China' has released GBP14 billion emergency funds into the domestic banking system to support the cash supply mechanism.
Regions
Goldman Sachs' distress trading desk lost $60 million
Even giant Goldman Sachs has been adversely affected by the stock market chaos, as its 2015 distress trading desk lost about $50 million to $60 million.
Punch Taverns sells 158 pubs to NewRiver; Deal Closed at £53.5M
Punch Taverns decides to sell 158 of its pubs to NewRiver for an agreed sum of £53.5 million. The decision to sell off its non-core businesses is in line with their goal to take care of its accumulated debts.
America Makes' $8M funding for commercialization of new technologies
With an objective of taking additive manufacturing (3-D printing) to further advance level, America Makes has drawn up plans to support research and development (R&D) with financial funding of up to $8 million.
First WeChat, Then WeRun
WeChat announced Wednesday its new fitness channel called WeRun, which is a step counter app. WeChat is China's most popular messaging app that has more than 600 million users. The WeRun is not the first time WeChat moved into fitness. Tencent, WeChat's parent company, launched the WeChat Sports in February.
Latest News
Exactly 20 years ago, on August 24, 1995, Microsoft launched Windows 95, and ultimately changed the way people interact with their computers.
Facebook is a wonderful avenue to raise awareness for certain advocacies. Now, it launched its donate button to make giving to nonprofits' pages easier and more effective.
The US consumer confidence has risen to 10.5 points in August, hitting its highest level in 7 months while the Conference Board's consumer index reached 101.5 this month.
Starkist Tuna settled a class action lawsuit for under filling its five-ounce tuna by few tenths of an ounce, and is now required to pay back consumers with cash or tuna.
Durable goods orders were up two percent in July on month-on-month (m-o-M) basis giving wider scope for the US gross domestic production (GDP) to reach over 2.8 percent in the third quarter this year as latest research reports forecast.
The US services sector's growth slowed down in early August but surpassed the forecast. According to the financial firm Markit Economics, the flash US Services Purchasing Managers' Index (PMI) recorded 55.2 points in August from 55.7 points in July.
As panic ensued when the Dow crashed to 1,000 points Monday right after the opening bell, some investors complained on Twitter that they weren't able to log into their online stock accounts.
Facebook Moments app introduces a new feature; a photo collection aggregated from your phone in a form of video. Moments automatically collects your photos and pick the right type of music based on 12 background themes that is shareable with your Facebook friends by means of facial recognition.
As the onslaught of the stock market tumult continues to wreak havoc on some of Britain's banks, Lloyds and Royal Bank of Scotland lost almost £3 billion from their value.
