China is reportedly planning to cut deposits that banks are required to hold in reserve to counter the effects of a weaker currency.
Tags: China
U.S. stock market gains evaporate on another wild trading day
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 to invest $1B in India after investing another billion in China
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.
Wall Street Experienced a Staggering 1,200 Unprecedented Emergency Freezes
Selling on Wall Street was so drastic Monday that the stocks and exchange-traded funds went through unprecedented emergency halts 1,200 times.
Apple stock rebounds after Tim Cook's e-mail on China sales
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.
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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.
The London property market that's been a favorite global hotspot for years, is fast losing its sheen as British pound becomes stronger, while emerging economies currencies are turning out to be weaker.
The 'Big Four' accounting firm Deloitte's partners on an average posted earnings of GBP 822,000 for 2014. Deloitte's partners numbering 721 recorded a 9.6 percent growth as their average earning was up from GBP 750,000 in 2013 to GBP822,000 in 2014, according to the UK arm of the accounting firm.
The recent devaluation of Chinese currency Yuan has already started creating tremors in the global markets and more precisely in the US economy as it's triggering an imbalance in international trade.
After a decline in earnings last year, Angry Birds creator Rovio Entertainment plans to rebound and expand in Asia by developing its game to fit local consumers' preferences.
The world's second largest economy China has to wait for one more year to make its currency 'Yuan' a part of International Monetary Fund's (IMF) currency basket. Dashing the dragon country's hopes, IMF's board favored a decision to keep renminbi as it is until 30 September 2016 year.
Hyundai and Kia Motors reportedly changed their China executives after sales in China significantly reduced. The company plans to improve its selling strategies to cope with the ever-changing needs of the Chinese market with the help of new executives.
The oil price in the global market continued to skid further on Wednesday touching a new low since March 2009 while crude inventories in the US are increasing.
The Chinese stock market is registering a volatile trading pattern as investors became nervous about the future course of the market. The slowdown in the dragon country's economy growth has become a cause of concern for the investors.
