Amazon is pushing the U.S. officials to authorize their moves in efforts to be a new player in the logistics and delivery industry. In recent months, the company has been making moves to achieve the ambition, including building its drones fleet and leasing Boeing planes.
Sectors
Saudi Arabia to takeover largest US refinery
Saudi Arabia's state-owned oil major Aramco will takeover Port Arthur Texas refinery in the US. Saudi Arabia will refine its oil shipped from Middle East at Port Arthur refinery and also sell it in the huge North American market.
Information Giants IHS and Markit Agreed to Merge at $13 Billion Deal
IHS and Markit, two of the information titans announced of their merger with a $13 billion deal. Once the deal is closed, it will be renamed IHS Markit with a "definitive agreement" for "an all share of equals".
Airlines are scaling back from hedging due to poor oil price
Airlines are now retiring from hedges after being hurt by low fuel prices. The 58% drop in crude prices since the middle of 2014 has pushed hedge market into a draconic loss, leading airlines to shy away from hedges
Gold below $1,250/oz on profit booking
Profit booking pulled yellow metal on Monday below psychological mark-$1,250 an ounce. Gold price fell for four weeks in the past five weeks.
Latest News
Francesca McDonagh, head of HSBC's retail business in the UK, is astonished over the lack of female representatives in the banking sector. She is worried about the slow progress of female reps in senior posts.
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.
The British central bank has voted on Thursday to maintain a low interest rate. The uncertainties regarding and weak global trade outlook has made the committee to decide to maintain low interest rate.
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.
Financial analysts David Iben-led Kopernik Fund is passing through a totally reverse situation as its performance is soaring from bottom to the top with rising valuations. The $682-million Kopenik Global All-C fund recorded a 15 percent growth in 2016 so far ahead of 99 percent of its peers.
U.S. coal industry is facing tough times as one by one files Chapter 11. Due to high debts, decline in demand and stricter regulations, most have no other choice but to shut down. Lately, Peabody Energy announced that it may go bankrupt.
India is seeking World Trade Organization's (WTO) intervention over increasing visa fees by the US. The visa fee for H-1B has been doubled to $4,000 and it's $4,500 for L-1 visa, as fixed by the US government.
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.
Starwood is about to dump Marriott's offer in favor of Anbang's more than $13 billion bid for the acquisition. If the deal pushes through, Starwood will pay Marriott a breakup fee of $400 million. Marriott has been given five days to counterbid.
