The renewed signs of prospects in China's steel industry propelled the copper prices move up on Monday to the highest in two weeks. Investors also reacted positively to the China's securities regulator head's resignation. Copper prices rose in four of five weeks.
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Victoria's Secret CEO Announced Resignation, Parent Company's CEO to Assume Leadership
Victoria’s Secret CEO Sharen Turney announced her resignation on Friday, concerning investors and briefly crash the parent company’s shares after the news. However, the company had assured investors that the company will retain its success with the parent company’s founder and CEO Les Wexner assuming the role and Turney remaining as the lingerie brand’s advisor.
Chinese industrial overcapacity posing a major threat to global economy
Industrial overcapacity in China may have adverse impact on the domestic market and global economy. A number of new units came up owing to easily available loans and government subsidies in the world's second largest economy. A latest report calls for more radical measures including greater privatization to streamline the Chinese domestic industry.
GuestLogix begins sale, investment process
Canadian company GuestLogix Inc has received court approval for implementing sale and investment solicitation process (SISP). Canaccord Gunuity Corp will be financial advisor to the company under the SISP. The bidding process is being executed in a phased manner.
It's 'too early' for HSBC to deepen cuts, says CEO
HSBC Holdings Plc is not thinking it's time to deepen cuts at its securities unit. The bank's investment unit is suffering from drop in trading revenues amid sluggish financial markets. HSBC Holdings is aiming to reduce costs by $5 billion by 2017.
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The Chinese job market has hit a dry spell, with job postings dropping across all sectors at an alarming rate. These findings, put together by the data restructuring company Quanton Data, throw up a pretty grim scenario, specially for the freshers who are about to step into the job market this summer.
Japan's retail electricity market is about to be liberalized, which has the top power companies as well new entrants vying for a share. The companies have come up with their mascots to lure the customers, from a suited gorilla to a cuddly bear, in a land where such characters are loved by children and adults alike.
It was confirmed on Monday that Israeli company Ravello was acquired by Oracle for $500 million. Ravello joins Oracle's cloud business with high hopes to take on giant tech companies like IBM, Google, Microsoft, and Amazon.
Asian stocks rebounded on Monday ahead of G20 Finance Ministers meeting, which is scheduled on this weekend. Investors are positively looking to reassurances about global economy growth.
Samsung has revealed the price of Samsung Galaxy S7 and S7 Edge in Australia as A$1,149 and A$1,249 respectively. Both phones will be available on March 11 and offers pre-sale order on February 26.
On Saturday, London Mayor, Boris Johnson sent an email to Prime Minister David Cameron, announcing his support for United Kingdom to withdraw from European Union.
5G has become the highly anticipated high speed data transfer to support Internet of Things. On Sunday, Nokia CEO said that some part of the fifth generation network could be available sooner.
Latin America experienced a phenomenal growth in the last decade. However, according to World Bank, the economic growth has not reached some people.Meanwhile the region's economy is slowing down in the last three years.
AT&T team up with Intel to test drone technology and adds 4G LTE on drones connectivity. The companies will showcase their work in Barcelona, Spain at the Mobile World Congress trade show.
