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PM Modi pitches for expediting BRICS rating agency PM Modi pitches for expediting BRICS rating agency

Expeditious action should be taken to establish the BRICS credit rating agency, Prime Minister Narendra Modi said on Friday, while emphasising that international financial institutions should reflect the world's current economic balance.

Global Markets: Central banks in focus as oil slump, spiking bond yields dent risk appetite

Bond markets are having an increasing impact on FX and equity markets, the strategists said, drawing parallels with moves seen in 2013 during the so-called "taper tantrum," when Fed signals about withdrawing liquidity hit markets. 

 

LG Electronics says second-quarter profit likely rose 14% year-on-year LG Electronics says second-quarter profit likely rose 14% year-on-year

Revenue likely rose 3.9 percent to 14.6 trillion won, also lower than the 15.1 trillion won SmartEstimate.

Twitter's lawsuit over surveillance can move forward: US judge Twitter's lawsuit over surveillance can move forward: US judge

In a boost to Twitter's effort to reveal more about surveillance requests from the US government, a US judge has ruled that the microblogging site can move forward with a lawsuit over the discussion of national security letters.

Warren Buffett's Berkshire Hathaway nears $18 bn deal for Oncor

The energy unit of Warren Buffett`s Berkshire Hathaway Inc is nearing a roughly $18 billion deal to acquire Oncor Electric Delivery Company LLC, people familiar with the matter said, three years after the utility`s parent entered bankruptcy.

Samsung Electronics expects record-high Q2 profits Samsung Electronics expects record-high Q2 profits

Samsung Electronics expects profits to soar 72 percent in the second quarter to a record high, it said on Friday, as it moves on from a recall debacle thanks to rising memory chip prices and increased demand for smartphones.

Microsoft to start layoffs today in sales force shake-up Microsoft to start layoffs today in sales force shake-up

The technology giant cut 7,800 jobs in 2015, and 4,700 last year.

LeEco boss asks for time, pledges to pay back debts LeEco boss asks for time, pledges to pay back debts

Jia, writing in a post on his public WeChat account, apologised for causing worry, pledged to pay back LeEco`s debts and to stick to its ambitious electric vehicle project.

SoftBank aims to raise $3 billion-$5 billion via bond issue SoftBank aims to raise $3 billion-$5 billion via bond issue

SoftBank Group Corp is targetting raising between $3 billion and $5 billion through an offering of U.S. dollar bonds, according to a person familiar with the plans.

State Bank of Pakistan says 3% currency drop to address external pressures, help economy State Bank of Pakistan says 3% currency drop to address external pressures, help economy

Pakistan`s central bank said on Wednesday a sudden 3 percent weakening of the rupee against the dollar would help the country`s external account and shore up economic growth.

India, Israel launch 5-year tech fund to further biz ties India, Israel launch 5-year tech fund to further biz ties

India and Israel on Wednesday launched a five-year technology fund, reminiscent of a fund that boosted the Jewish state's ties with US over four decades, and agreed to holds talks for an investment protection treaty in a bid to boost trade and business ties.

Troubled China tech giant LeEco confirms assets frozen

Assets linked to Chinese tech giant LeEco have been frozen in a dispute with a creditor, a unit of the troubled company has confirmed, highlighting its perilous financial state.

Samsung on track to take Intel's chip crown with record second-quarter earnings Samsung on track to take Intel's chip crown with record second-quarter earnings

Samsung Electronics Co Ltd is expected to report its best-ever quarterly profit in the second quarter, with soaring memory chip sales pushing it past Intel Corp as the biggest semiconductor maker by revenue for the first time.

Pressure piles on China's LeEco as assets frozen after bank complaint Pressure piles on China's LeEco as assets frozen after bank complaint

Chinese tech group LeEco is under growing pressure from its creditors and business partners, with a court in Shanghai ordering some of its assets frozen over late payments to a bank.

US rolls out expedited entry for low-risk Indian travellers US rolls out expedited entry for low-risk Indian travellers

The US has started rolling out for India its Global Entry programme which allows for expedited clearance of pre-approved, low-risk travellers.

Indian Oil plans to buy North American sour crude for the first time Indian Oil plans to buy North American sour crude for the first time

India`s largest oil refiner is seeking to buy the crude grades Mars, Southern Green Canyon and Thunderhorse from the United States and Western Canadian Select from Canada in the tender, they said.

Nasdaq price glitch leaves tech giants stocks fixed at $123.47 Nasdaq price glitch leaves tech giants stocks fixed at $123.47

For tech giant Amazon which enjoyed an opening price of $972.79 a share, the error had had a catastrophic effect on the appearance of its market cap while other companies like struggling Facebook game maker Zynga saw their stock price soaring by 3,292 percent.   

Fraud charges: Ex-Barclays CEO appears in court

Accused over fraud charges, former Barclays chief executive John Varley appeared in a London court on Monday. It is the first time a boss of a global bank has faced charges arising from the 2008 financial crisis.

G20 should support open trade to promote eco growth: WTO G20 should support open trade to promote eco growth: WTO

The report assumes significance as the WTO in September 2016 lowered its global trade growth forecast for this year to 1.7 percent, stating that this slowdown is "serious" and should serve as a "wake-up call" for nations.

UK mulls pension loophole fix to help Tata Steel UK mulls pension loophole fix to help Tata Steel

The new scheme has been established as an alternative to using the Pension Protection Fund (PPF) as Tata has offered to pump 550 million pounds into the scheme.