Global investors seem to be getting bullish on banks Stateside, but the European banking system is still falling behind. Plagued by a number of factors such as an ultra-loose monetary policy environment, high levels of non-performing loans, uncertainty caused by the U.K.’s vote to exit the European Union and massive fines, the European banking industry […]
Read moreBitcoin hit a near one-month low on Wednesday and has seen more than $12 billion wiped off its value in the last 30 days, amid nervousness in the cryprocurrency market. The price of bitcoin fell to $2,272.32, its lowest level since June 15, when it slumped to $2,185.96, according to data from CoinDesk. The price […]
Read moreGerman special police units raided several homes in Berlin early Wednesday in connection with the brazen heist of a 100-kilogram (221-pound) gold coin stolen from one of the city’s most famous museums earlier this year. Police arrested at least two suspects during early morning raids in the city’s Neukoelln neighborhood. “We assume that the two […]
Read moreApple Inc on Wednesday said it is setting up its first data center in China, in partnership with a local internet services company, to comply with tougher cybersecurity laws introduced last month. The U.S. technology company said it will build the center in the southern province of Guizhou with data management firm Guizhou-Cloud Big Data […]
Read moreCurrency, United States Finance
BOE deputy governor says he’s not ready to raise interest rates just yet
Top Bank of England official Ben Broadbent is not ready to raise interest rates just yet, he said in a newspaper interview published on Wednesday, substantially lessening the chances that borrowing costs will rise soon. Deputy Governor Broadbent said the mood among businesses was central to his analysis and that it was “very difficult” for […]
Read moreMajor Chinese conglomerate Dalian Wanda is selling a bunch of its theme parks and hotels for $9.3 billion to Sunac, a Chinese property developer. That is projected to be the one of the largest Chinese real estate deals ever, and it features an interesting quirk: Wanda is lending nearly half of the total sale figure […]
Read moreCurrency, United States Finance
Burberry reports better-than-expected sales in first quarterly report under new CEO
Luxury brand Burberry reported a better-than-expected increase in like-for-like sales in its first quarterly report under new CEO Marco Gobbetti, helped by stronger demand in China and a continuing good performance in its home British market. Like-for-like sales increased by 4 percent, double the rate of growth expected by analysts, led by its newest ranges […]
Read moreAmazon says customers ordered more than three times as many Echo speakers than during Prime Day 2016
Amazon.com Inc said on Tuesday its Prime Day sale was on track to be the biggest shopping event in its history by sales. The world’s largest online retailer said customers ordered more than three times as many Echo-family speakers than during Prime Day 2016, which at the time broke records for Amazon devices. Third-party sellers […]
Read moreKentucky Fried Chicken celebrated its 30th anniversary of operations in China by unveiling a limited edition smartphone it had collaborated on with Chinese smartphone maker Huawei. KFC made the announcement about the partnership with Huawei in a post on its Weibo account on Friday. An accompanying video on KFC’s Weibo account highlighted how far both […]
Read moreThe International Monetary Fund‘s Managing Director, Christine Lagarde, has said that she would not rule out another financial crisis in her lifetime, indicating that comments made recently by Federal Reserve Chair Janet Yellen may have been premature. “There may, one day, be another crisis,” Lagarde told CNBC Tuesday on the sidelines of a joint conference […]
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