Trade between China and North Korea looks to be slowing drastically, providing further evidence that Beijing may be bowing to U.S. requests to put pressure on the rogue state. The world’s second-largest economy imported and exported goods worth $456.16 million in July, down from $489 million in June. The data, released by China’s General Administration […]
Read moreCheck out which companies are making headlines before the bell: Lowe’s – The home improvement retailer missed estimates by four cents a share with adjusted quarterly profit of $1.57 per share. Revenue also fell below expectations. Comparable-store sales were slightly better than expected, increasing 4.5 percent, but Lowe’s also gave a full-year earnings forecast that […]
Read morePerhaps it is the August lull or the start of a more prolonged slowdown in the housing market, but homeowners and homebuyers seem unimpressed by the lowest mortgage interest rates of the year. Total mortgage application volume barely moved last week, down 0.5 percent from the previous week, according to the Mortgage Bankers Association. That’s […]
Read moreEstonia wants to issue its own virtual currency with the help of Ethereum founder Vitalik Buterin. The cryptocurrency, called “estcoin,” could be launched via the digital coin community’s version of crowdfunding – an initial coin offering (ICO). ICOs enable start-ups to raise funds by selling off cryptocoins, such as bitcoin and ether, in return for […]
Read moreCurrency, United States Finance
Ad mogul Martin Sorrell hints Facebook could soon become WPP's second largest media investment
Advertising mogul Martin Sorrell told CNBC on Wednesday his company is poised to increase its investment in Facebook to “well over” $2 billion this year. WPP, the world’s largest advertising group, will keep Google as its top media investment in 2017. However, Sorrell suggested the firm’s client portfolio could be set to see Facebook move […]
Read moreCurrency, United States Finance
Egypt’s Foreign minister cancels Kushner meeting after US withdraws up to $290 million in aid
A scheduled meeting between Egypt’s Foreign minister and top U.S. presidential advisor Jared Kushner was aborted at the last minute Wednesday, just hours after the U.S. withdrew tens of millions of dollars in aid. The foreign ministry would not give a reason for the cancellation of the meeting, however, it was dropped from Sameh Shoukry’s […]
Read moreBritain will outline its plans on Wednesday to escape the “direct jurisdiction” of the European Court of Justice after Brexit, one of Prime Minister Theresa May‘s main aims in talks to unravel 40 years of EU membership. The plans will be laid out in one of the most politically sensitive documents Britain has published this […]
Read moreNorth Korean leader Kim Jong Un has ordered the production of more solid-fuel rocket engines, state media said on Wednesday, as he pursues nuclear and missile programs amid a standoff with Washington, but there were signs of tension easing. The report carried by the KCNA news agency lacked the traditionally robust threats against the United […]
Read moreCambodia signed an agreement with Singapore-listed KrisEnergy Ltd on Wednesday to develop an offshore oil field that could finally see Cambodia produce its own oil after years of delays. Cambodia has struggled to develop oil fields in the Gulf of Thailand, as few companies are willing to invest in the area following the 2014 global […]
Read moreSome guys have all the luck. Fiat Chrysler boss Sergio Marchionne has not been one of them. Ever since General Motors rebuffed a merger attempt with its rival, the outspoken Italian CEO has been searching for a partner, unsuccessfully flirting with a crisis-hit Volkswagen and France’s PSA before the latter struck a deal for GM’s […]
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