China’s yuan firmed against the dollar on Friday after the central bank fixed a much stronger midpoint, but the currency is on course to be the worst performing major Asian currency this year and have its biggest annual loss since 1994. The yuan, which has reached an 8-1/2 year ... Read More »
The world’s most valuable company Apple is looking at Bengaluru to set up an iPhone manufacturing plant, as it looks to replicate its China success in the fastest growing smartphone market in the world. Apple is turning to Taiwanese contract manufacturer Wistron, which will utilise PC-maker Acer’s facility, a ... Read More »
NEW YORK (AP) — Wall Street traders sometimes root for year-end “Santa Claus rallies,” but on Friday, hardly a creature was stirring as stocks finished slightly higher on the quietest full day of trading in more than a year. Health care companies brought in most of the gains. Major U.S. ... Read More »
FRANKFURT, Germany (AP) — Nine years after the collapse of the U.S. housing market sent shockwaves through the global economy, two European banks have agreed to offer American homeowners and borrowers billions of dollars’ worth of help under a settlement related to the sale of risky securities that helped spark ... Read More »
ELIZABETH, N.J. (AP) — At the brightly lit mall, clothing stores highlight holiday sweaters and big signs tout the sales, while Duquan Allen keeps his expectations in check. Allen, who works full-time cleaning planes at Newark Airport, says his mother doesn’t expect anything big, and he usually gets a hooded ... Read More »
Apple (AAPL.O) will launch a legal challenge this week to a record $14 billion EU tax demand, arguing that EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty, senior executives said. Apple’s combative stand underlines its anger with the European Commission, which ... Read More »
The dollar and U.S. bond yields fell on Monday while Asian shares hit a four-week low, as investors cashed in on some of their recent bets that the anticipated fiscal boost from the incoming Trump administration will support riskier assets. Wall Street hit record highs and the dollar rose to ... Read More »
The troubles in Italy’s banking sector are not having any impact on the mood in corporate boardrooms around Germany and neither is the election of U.S. Republican Donald Trump, an economist at the Ifo institute said on Monday. “The Italian crisis is not having any effect. The markets know that ... Read More »
General Electric Co (GE.N) said on Wednesday it would sell its $3 billion industrial solutions business, which makes electrical equipment, as part of a push to focus on its core businesses. The industrial conglomerate expects to raise about $4 billion from the sale of the unit as well as the ... Read More »
The following excerpt is from the staff of Entrepreneur Media’s book Finance Your Business. Buy it now from Amazon | Barnes & Noble | iTunes Venture capital may be the hot, sexy funding route that helps a few businesses and grabs a lot of headlines every year. But it turns out another type of funding works ... Read More »
Bengaluru: Wipro Ltd has split its India and Middle East business, which accounts for 10% of its revenue, into two separate divisions under new heads and merged one of the divisions focussed on automation platforms with the larger technology unit, as chief executive Abidali Neemuchwala looks to put the company ... Read More »
A bombing at Cairo’s largest Coptic cathedral killed at least 25 people and wounded 49, many of them women and children attending Sunday mass, in the deadliest attack on Egypt’s Christian minority in years. The attack comes as President Abdel Fattah al-Sisi fights battles on several fronts. His economic reforms ... Read More »
