London is the core economic hub of Europe. Leaving out from the European Union will force the businesses to be pulled out from the UK, argue some analysts. However, HSBC Board’s decision to retain headquarters in London appears to be the best answer to the believers.
Sectors
R-Squared investment firm ups position in Russian ruble
R-Square Macro Management is increasing its exposure to Russian currency Ruble. It's hoping on rebound in Ruble as it fell 37 percent from the recent high in 2015. Some asset managers scaled back their wagers on Ruble amid high volatility in the Russian currency.
Indian market crash channeling funds into MFs
The recent market crash in Indian stock markets is driving funds from equities to mutual funds (MFs). As a result, fixed income mutual funds are witnessing increased inflows of funds amid ongoing bear market.
The Reason Behind Google's $1 Billion Investment in SpaceX Last Year
Google made a big investment last year to SpaceX, as a mean to help the company build space-based internet communication system. Meanwhile, SpaceX is scheduled to launched by February 24.
Whole Foods to trim costs, shifting biz focus
Whole Foods Market Inc is in the process of cost reduction. To promote sales volume, it's offering discounts and building relations stronger with suppliers. Whole Foods is expecting a savings of $300 million annually.
Latest News
Switzerland receives about 1000 emergency calls from hikers every year. In order to create a technology that could give a faster response and search more effectively for lost or injured hikers, a group of researchers developed a software with a combination of Artificial Intelligence. The software enable drones to autonomously navigate forest areas and direct themselves to hiking trails.
Aircraft manufacturers are expecting the market in South East Asia to grow. Ahead of Singapore Air Show this week, competition between low-cost carriers in the region also become the concern.
Import of palm oil by India bounced after its first drop in a year. The growing demand coupled with harvest failure boosted the purchase of palm oil from overseas suppliers.
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
The center of life-saving drug price hike controversy, Martin Shkreli tried to made himself in the news again. He claimed that he was scammed for $15 million for the new album of Kanye West "Life of Pablo."
In a plan to boost sales, Tesla increased the price of its after sales service. The company also prevent Tesla owners to transfer their extended warranty when reselling their cars.
AirAsia India’s head Mittu Chandilya is confirmed to soon leave the airline. The decision emerged after he previously expressed disfavour on the micro-management practiced by the airline’s parent company in Malaysia. His successor is yet to be decided, but it’s likely to be an executive from the parent airline.
U.S. sold Pakistan eight F-16 fighter jets that deeply disappoints India. It was told that Pakistan will use these jets to counter terrorism and defend their country but India doesn't believe so and thinks that it will be used against them instead.
The possible entry of a fourth mobile operator in Singapore due to the country's decision to auction radio frequency has caused much disquiet among the existing telecom operators. Among them, Singtel CEO has been most vocal about this decision, stating her concern about the market getting too focused on price leading to profit reductions and dividend cuts, leaving no scope for innovation.
