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.
Tags: China
Canada slides into recession as oil prices dip
Slumping oil prices take its toll on the Canadian economy. Canada is now officially in a recession for the first time in six years, as crude prices plummet due to supply glut and falling global demand, particularly from China.
China-based Internet entrepreneurs back Tesla rival NextEV
A group of wealthy internet entrepreneurs and investors in China are putting their money on NextEV, a rival to U.S. electric car manufacturer Tesla Motors Inc.
As long as China economy is under pressure, bearishness for copper likely
Copper price slipped below $2.40/lb (1lb=453.59265gm), a key support level, and was trading at $2.3260. With the $2.4 level becoming the key resistance level, the copper price needs to break this level to gain upward movement.
The US stocks turn attractive on lower PE ratios
The US stocks turn attractive on lower PE ratios. The latest market crash might have eroded $2.1 trillion value in the market capitalization in the US stock markets, but equities are no more overpriced as price-to-earnings (PE) ratios turn attractive. According to ConvergEx, after the recent 10 percent drop in the US markets, no one can say that American stocks are expensive.
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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.
Another wild day of trading gripped Wall Street Tuesday. Many were hoping stocks would recoup losses from Monday's massive selloff, as all three major equity indexes surged during early sessions. But, as trading drew to a close, their gains vanished.
Uber recently announced that it has allocated $1 billion to expand its operations in China. Like that is not big enough, the company will also be setting aside another $1 billion to strengthen its business in India.
Selling on Wall Street was so drastic Monday that the stocks and exchange-traded funds went through unprecedented emergency halts 1,200 times.
Apple's stock rose sharply Monday after chief executive Tim Cook sent a rare e-mail to a news commentator, saying sales in China had been strong.
One can cite several reasons for the ongoing crash of equity values across the global markets. The major reason that no one can afford to avoid is Chinese factor. The slowdown in the world's second-largest economy, China's latest devaluation of its currency Yuan, drop in manufacturing output, mining companies reporting worst performance, etc, all these developments are impacting the global markets in fact all the countries including developed and emerging economies as well.
Apple shares went down seven percent Tuesday, and down again six percent Friday amid the declining U.S. stocks.
China is reportedly planning to cut deposits that banks are required to hold in reserve to counter the effects of a weaker currency.
Prices of various precious metals have dropped, hitting junior miners. This prompted the junior miners to venture on various unconventional options, ranging from exporting eggs to farming medical marijuana.
