International Business Machines Corp (IBM.N) posted a bigger-than-expected drop in revenue and cut its full-year profit forecast, as a stronger U.S. dollar accentuated weakness in demand from China and emerging markets. It was the 14th quarter in a row that IBM has posted a reduction in revenue, as the world's…

The Tycoon Left Out in the Cold

Friday, 09 October 2015 15:00
China accuses a billionaire of forsaking the fatherland. Bloomberg - Among the magnates who have dominated Hong Kong’s economy for decades, Li Ka-shing is first among equals. Like other tycoons in the city, he’s made a fortune investing in Hong Kong and China real estate. Li’s also branched out to…
Reuters - Asian shares rose on Friday, taking their cue from a jump in oil prices and Wall Street gains after minutes of the Federal Reserve's latest meeting damped down expectations of an imminent Fed rate hike. The Fed minutes revealed the extent to which policymakers are concerned that a…
Bloomberg - China’s yuan overtook Japan’s yen to become the fourth most-used currency for global payments, shrugging off a surprise devaluation to rise to its highest ranking ever and boosting its claim for reserve status. The proportion of transactions denominated in yuan climbed to a record 2.79 percent in August,…
Reuters - Asian stocks rose on Monday as expectations for a U.S. interest rate hike this year faded after weaker-than-expected employment data. Spreadbetters forecast a higher open for Britain's FTSE .FTSE, Germany's DAX .GDAXI and France's CAC .FCHI as investors slowly return to riskier assets. U.S. stock indexes jumped over…
AP — Paul Walker's daughter sued Porsche for wrongful death Monday, claiming the sports car that her father was in when he was killed suffered from numerous design defects. The lawsuit filed by Meadow Rain Walker seeks unspecified damages for defects that her lawyers claim kept the actor trapped in…
Reuters - The element of surprise in international relations appears more frequent and more ferocious. Are these shocks to be expected from a dangerously fragile political and economic global architecture? Or is something else going on? It is increasingly understood that we have entered a new phase of globalization –…
Reuters - Caterpillar Inc slashed its revenue forecast for 2015 by $1 billion and said it could cut up to 10,000 jobs through 2018, amid a downturn in the mining and energy industries. Shares of the world's biggest construction and mining equipment maker, which has also been hit by a…
Reuters - U.S. stocks opened sharply lower on Friday after the Federal Reserve's decision to hold interest rates exacerbated worries about the health of the global economy. The three major indexes were down more than 1 percent in early trading. Apart from the state of the world economy, the Fed…
Reuters - The United States on Friday issued regulations easing restrictions on American companies seeking to do business in Cuba and opening up travel in the latest action to weaken the U.S. trade embargo amid warming relations with the Communist country. The rules, which take effect on Monday, Sept. 21,…