Sunday 17 December 2017

Business

Business

Police raid Milan offices of Moody's and S&P

Police raid Milan offices of Moody's and S&P

Italian shares plunged on Thursday, with some leading firms losing more than 10% of their value. Among the factors behind the share fall was a widening of the risk premium on Italian stat...

Did Soros just make $10 billion on downgrade bet?

Did Soros just make $10 billion on downgrade bet?

The Daily Mail has the bizarre story of someone - maybe George Soros - placing an $850 million bet in the futures market on the prospects of a US debt downgrade. The latest bet was made o...

Timothy Geithner to remain US Treasury Chief at Obama's request

Timothy Geithner to remain US Treasury Chief at Obama's request

US Treasury Secretary Timothy Geithner, who wanted to quit after completing a deal on raising the borrowing limit, has confirmed that he will remain in his job. White House spokesman Jay ...

Greenspan: No Chance of Default, US Can Always Print Money

Alan Greenspan

Former Federal Reserve Chairman Alan Greenspan rules out the chance of a US default following S&P's decision to downgrade America's credit rating.

45,000 Verizon workers go on strike

45,000 Verizon workers go on strike

Forty-five thousand unionized Verizon Communications Inc. workers from Massachusetts to Washington, DC, went on strike Sunday after negotiations with the telecommunications company over a...

Chinese Rating Agency: US Dollar to Be 'Discarded' by World

Chinese Rating Agency: US Dollar to Be 'Discarded' by World

Guan Jianzhong, chairman of Dagong Global Credit Rating, one of China’s top rating agencies, said the US dollar is “gradually discarded by the world,” and the “process will be irreversibl...

Standard & Poor's: 1 in 3 chance of future downgrade of U.S. credit rating

Standard & Poor's: 1 in 3 chance of future downgrade of U.S. credit rating

Standard & Poor's managing director, John Chambers says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 ...

Mobile Shopping Catches On In The U.K.

Mobile Shopping Catches On In The U.K.

It has been reported by The British Retail Consortium that mobile retail searches in the country are on the rise. It was found that during the second quarter of the year, total retail s...

HSBC Looking to Cut 10,000 Jobs

HSBC Looking to Cut 10,000 Jobs

Back in May, HSBC's new CEO announced a plan to cut costs by up to 3 and a half billion dollars a year. Today, reports out of Europe say the banking giant plans to eliminate 10 thousand p...

HSBC To Exit Retail Banking In Poland

HSBC To Exit Retail Banking In Poland

HSBC Thursday said it will exit its small retail operations in Poland, after saying in May that it was reviewing its retail activities in more than three dozen countries.

S&P softens stance on debt rating debate

S&P softens stance on debt rating debate

The president of a major credit rating agency said Wednesday that some of the plans being considered by lawmakers to reduce the deficit by less than $4 trillion could still preserve the U...

British Petroleum had failed to impress with its post-spill plans

British Petroleum had failed to impress with its post-spill plans

Other companies have clearly redefined their strategy over the last 12 to 24 months. ExxonMobil continues to build its shale gas business in the US and Shell is focused on mega gas projec...

Soros returns $1bn to investors as he ends his hedge fund career

George Soros

George Soros, the legendary investor best known for breaking the Bank of England, signalled the end of an era yesterday, announcing that he would no longer invest money for other people a...

Amazon is battling the online tax in several states

Amazon is battling the online tax in several states

Amazon.com Inc. has insisted that California's new law requiring it to collect sales taxes from customers in the state would hurt the company's ability to compete in the nation's biggest ...

UK's Financial Services Authority planning report into HBOS failings

UK's Financial Services Authority planning report into HBOS failings

Britain's Financial Services Authority (FSA) is to investigate the failings at UK bank HBOS during the credit crisis.

Greece to default as eurozone agrees €159bn bailout

Greece to default as eurozone agrees €159bn bailout

Greece is set to lead the eurozone's first-ever default as European leaders agreed that the private holders of Greek debt will take a hit of €50bn over three years. The heads of the 17 eu...

Apple Not Engaged In CEO Search, Jobs Says

Apple Not Engaged In CEO Search, Jobs Says

Cupertino's current chief executive dismisses a report that its board is mulling a succession plan as "hogwash."

Twitter is facing a federal government investigation, competition from Google+ and the departure of two of its founders

Twitter is facing a federal government investigation, competition from Google+ and the departure of two of its founders

But Dick Costolo, Twitter’s chief executive, has a message for the naysayers: the business is growing just fine. “We’re growing faster than we’ve ever grown,” Mr. Costolo said Tuesday at...

Goldman Sachs to Cut 1,000 Jobs as Debt Trading Misses

Goldman Sachs to Cut 1,000 Jobs as Debt Trading Misses

Goldman Sachs will cut about 1,000 jobs after a plunge in fixed-income revenue that was bigger than analysts estimated. Second-quarter fees from trading debt, currencies and commodities t...

Apple directors talked CEO job with recruiters, Looked for a Steve Jobs Replacement

Apple directors talked CEO job with recruiters, Looked for a Steve Jobs Replacement

Several Apple Inc board members have discussed a successor to CEO Steve Jobs since the Silicon Valley icon went on medical leave in January, and have discussed it with at least one head o...