United States
50% drop in Viacom stock wipes out $16B
The concerns about the future course of Viacom among its investors led the continuous drop in stock on Nasdaq. The latest watching ratings on Viacom's MTV, Nickelodeon, Spike and Comedy Central steeply fell when compared to its competitors. This has created doubts among the company's investors, who resorted to offload their holdings on Nasdaq exchange.
Wild swings in China stocks this week
A rocky start for China stock in this new month as their stock market plunge yet again. Based on the report by CNN, Shanghai Composite index fell 4.2% at the opening bell while Shenzhen Composite index opened 5% lower at the same time.
August sell-off leaves William Ackman's hedge fund with flat gain in 2014 so far
The global stock markets turmoil in August and China's economy slowdown have impacted hedge fund mogul William Ackman, who was one of the best performers in 2014. Ackman's Pershing Square Capital Management's Pershing Square LP fund dropped 7.7 percent in August making the total gain during the year at 0.06 percent flat growth.
Louis Vuitton hires former Apple executive as digital director
LVMH Moet Hennessy Louis Vuitton, a French luxury fashion conglomerate was reported to have hired a new chief digital officer from Apple, reported by The Wall Street Journal.