China’s Forex Reserves Drop To A Five-Year Low
China's foreign exchange reserves dropped to $3.185 trillion in August, which is the lowest since 2011 according to data published by the country’s central bank, the People's Bank of China. However financial analysts have stated that the decline is in
Read MoreNike signals bearishness post-Rio Olympics
As the curtain was drawn on the Rio Olympics, there was one stock which caught the market’s attention. It was Nike, Inc. (NYSE: NKE), the renowned sportswear and apparel manufacturer. During the first three weeks of August, the share price
Read MoreCanadian dollar to rise on better than expected GDP growth
The wildfire in the Alberta region of Canada and the subsequent news of its negative impact on the export revenues kept the Canadian dollar weak for the most of August. Similarly, the uncertainty in the US Fed rate hike and
Read MoreApple Faces $14.5bn Tax Bill After EU Commission Decision
The European Commission has ruled that Apple must pay back up to €13 billion ($14.5 billion) to the Irish government in unpaid taxes after the commission found that the tax benefits being extended to the company were illegal. Commissioner Margrethe
Read MoreIntuit swings to loss in Q4, issues poor Q1 FY17 view
Tax preparation software provider Intuit Inc. (NASDAQ: INTU) reported a swing to a loss in the fiscal 2016 fourth-quarter, compared to the prior year’s similar period. The market participants were not impressed even after the company’s earnings and revenue topped
Read MoreNew Zealand dollar to decline on widened trade deficit
The uncertainty in the Fed rate hike and higher than expected unemployment rate of 4.9% in July kept the Greenback lower against several currencies, including the New Zealand dollar, for most of August. However, the widening of trade deficit, rate
Read MoreLitecoin Gets Listed in Coinbase’s GDAX Exchange
Digital currency Litecoin has been listed in Coinbase's GDAX exchange, which is the U.S.-based exchange for digital currency trading. The move, which has been on the anvil for long, resulted in the currency’s price rising by almost 10 percent. Created
Read MoreEU Leaders Warn UK As Corporation Tax Cuts May Be Planned
Swedish Prime Minister Stefan Loefven has warned that Brexit negotiations could become difficult if the British Prime Minister Theresa May decides uses tactics like corporation tax cuts to boost Britain’s growth. Such measures would impact the competitiveness of EU countries.
Read MoreAnalog Devices tops Q3 view, issues strong Q4 outlook
Aided by a 23% year-over- year gain in the Communication segment revenue, the fiscal 2016 third-quarter earnings and revenue of the semi-conductor manufacturing company Analog Devices, Inc. (NASDAQ: ADI) topped the Wall Street estimates. Based on the strong fourth-quarter revenue
Read MoreRuble to strengthen on decline in Unemployment rate
Lower than expected unemployment claims in the US enabled the Greenback to rise sharply against the Russian Ruble in the second week of July. From a low of 61.85, the USD/RUB pair rose to a high of 67.289 in a
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