China Resources SZITIC Trust Co Ltd, a unit of China Resources Corp, is planning to divest minority stake in Wal-Mart Stores Inc. The state-backed China Resources Trust has a minority stake in the US retailer's operations in China. Wal-Mart Stores Inc has 21 Wal-Mart outlets in China. China Resources has listed its stake for sale at Yuan3.3billion ($525million). It's estimated that China Resources has 35 percent stake in the Wal-Mart outlets in China. Wal-Mart believes the transfer of minority stake doesn't impact the operations in China.
United States
Daraprim price hike could affect the pharmaceutical industry
The overnight price hiked of Daraprim drug by the start-up, Turing Pharmaceutical is creating a big impact to the pharmaceutical sectors worldwide. The company which is own by a former hedge fund manager had acquired the right of the drug in August and immediately increases its price. The move is causing a backlash to pharmaceutical industry creating most of the shares down in a massive sell-off.
EB-5 tougher for Chinese rich if investment bar goes up
The EB-5 immigrant investor program, popular green card route for Chinese rich investors, may pose tough time for potential investors from the world's second largest economy if the changes under consideration come into force. The US government grants permanent residency to foreigners who invest $500,000 in the US economy creating employment opportunities.
4 signs indicate Silicon Valley's tech bubble bursting
What matters the most in investing is the time when you exit. Loss or profit depends upon when you exit. If you can identify the bubble bursting, you can safely walk out of the market well before it happens. The tricky question is how to identify the market before it's blowing up. Investors, who made and lost money in dotcom bubble, fear that history may be repeated for the current tech bubble though the damage wouldn't as much as it was in dotcom crash.
Where do Americans spend their savings on gas?
It seems like that the whole America is enjoying their savings on gas and takes advantage of the situation while it still favors them. According to the analysis by JPMorgan Chase Institute, about 25 million credit and debit card users were discovered to have spent an entire 80% of their gas savings. These extra expenditures went to restaurants, where a portion also goes to entertainment, groceries, clothes, electronics and appliances.
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Adding one more tool to the Internet of Things (IoT), Amazon Web Services (AWS) has announced the launch of 'Amazon IoT,' a new service from the online retailer.
When employees are not satisfied with their benefits and how they are being managed, expect that delivery work is unsatisfactory. Worst is they will go on strike if their demands are not granted.
The San Francisco-based ride-hailing company Lyft has teamed up with Hertz Global Holdings Inc for offering rental cars to its drivers. Hertz offers car rentals on daily, weekly and monthly basis and now these services will be available as part of the agreement with Lyft, which offers rental cars to drivers who don't have their own cars or meet Lyft standards. On a pilot basis, Lyft plan with Hertz is available for drivers in Las Vegas and it will expand this plan to other locations soon. Lyft has also partnered with Shell for providing gasoline at discounted price to its drivers.
Marking a major feature since its inception in 2006, Twitter has released new app 'Twitter Moments' for bringing news updates to its users. Twitter Moments tool keeps up the users about news breaks without the need to watch multiple news platforms reducing time and effort. Twitter Moments app works on iOS, Android, and desktop and is initially available for US market only.
The American Academy of Arts and Sciences released a recent report detailing where most of the people's money were being put into, which revealed that 11 of the states in America are spending more on prison institutions than on higher education.
Microsoft Corporation introduces Microsoft Band 2. It will be on sale for $249 starting October 30. The new Microsoft Band fitness tracker was unveiled on Tuesday. It will run on Windows 10 OS. The wearable band will be available for $249.
Sony Corp is in the process of offloading it stake that's half of Sony/ATV Music Publishing, which is the world's largest music publisher. Sony and Michael Jackson's Estate jointly own Sony/ATV Music Publishing. The joint agreement between Sony and Michael Jackson's Estate that allows one partner can buy out the other.
The future of personalized footwear has gotten a lot more interesting thanks to a recent update from Adidas revealing their plans to use 3D Printing technology to create a series of running shoes that will be the first of its kind.
Hillary Clinton, the US Democratic Presidential candidate, has raised her voice against the 12 nation Trans-Pacific Partnership (TPP). Clinton said the agreement is not enough to keep tabs on currency manipulation or protecting consumers from high drug prices
