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.
Sectors
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.
Digital First Media Will Acquire Freedom Communications' Newspapers
The second largest U.S. newspaper chain will soon add two newspapers in California. Digital First Media gain the advantage after Tribune Publishing faced regulatory hurdle to acquire Orange Country .
Ride-Hailing Service Grab Teams Up With Indonesian Conglomerate Lippo Group
Ride-hailing app Grab is partnering with Indonesian conglomerate Lippo Group. Under the deal, Grab will provide its service to deliver products from the conglomerate’s e-commerce. The deal emerged when ride-hailing services in Indonesia are facing challenges in terms of regulations.
Amazon is Pushing The U.S. Government to Authorize Its Efforts on Establishing a Delivery Business
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.
Latest News
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.
China and U.S. has been competing for a place in the economy and politics of Cuba. China has been doing business with Cuba for several years and the U.S. is just making a start. The edge that Washington sees is the proximity as being Cuba's neighbor.
Peabody is facing difficulties as it shares declined sharply the past year. It is considering to file Chapter 11 sooner or later to protect it from creditors while restructuring the company and recovers from the large loss.
The US automobile industry will have the automatic emergency braking system in place by 2022. About 20 automobile manufacturers representing over 99 percent of US automobile industry have agreed to implement automatic emergency braking system in their vehicles.
