1 July, 2015 by The TZ Newswire Staff Comments Off on China stocks fall despite regulators’ bid to stop the slide
China stocks fall despite regulators’ bid to stop the slide
China stocks closed down sharply on Thursday after another wild trading day as investors shrugged off regulators’ intensified efforts to put a floor under the sliding market. The CSI300 index of the largest …
1 July, 2015 by The TZ Newswire Staff Comments Off on IMF’s Lagarde says Greece must reform before debt relief
IMF’s Lagarde says Greece must reform before debt relief
One day after Greece became the first developed economy to default on a loan with the International Monetary Fund, the head of the international lender on Wednesday suggested Greece should move to reform its economy before its European creditors give it a break on its debt. In an interview with Reuters, IMF Managing Director Christine Lagarde avoided any pointed criticism of Greek Prime Minister Alexis Tsipras but still hinted at frustrations as she noted that Greece’s economy had been on the road to recovery before the current left-wing Syriza party came to power.
1 July, 2015 by The TZ Newswire Staff Comments Off on U.S. sues to stop Electrolux acquiring GE’s appliance business
U.S. sues to stop Electrolux acquiring GE’s appliance business
The United States filed a lawsuit on Wednesday to stop Sweden’s Electrolux AB (ELUXb.ST), which owns the Frigidaire, Kenmore and Tappan brands, from buying General Electric Co’s (GE.N) appliance business, the Justice Department said in a statement. Whirlpool Corp (WHR.N), which bought Maytag in 2006, is the third. Electrolux shares traded in the U.S. (ELUXY.PK) on the OTC Pink market fell 9.3 percent, with more than 40,000 shares exchanged.
1 July, 2015 by The TZ Newswire Staff Comments Off on PayPal to buy digital money transfer provider Xoom
PayPal to buy digital money transfer provider Xoom
PayPal Inc said it would buy digital money transfer provider Xoom Corp (XOOM.O) for $890 million as it muscles into a growing international remittance market and expand in countries like Mexico, India and China ahead of a spinoff from eBay Inc (EBAY.O). The offer price of $25 per share in cash represents a premium of about 21 percent to Xoom’s Wednesday closing price of $20.70. Xoom shares surged on the announcement and were trading around the offer price in extended trading.
1 July, 2015 by The TZ Newswire Staff Comments Off on U.S. hiring seen solid in June, keeping September rate hike in play
U.S. hiring seen solid in June, keeping September rate hike in play
U.S. job growth likely cooled a bit in June after reaching a five-month high, but still-healthy hiring would suggest the labor market is strong enough to support a September interest rate increase by the Federal Reserve.
1 July, 2015 by The TZ Newswire Staff Comments Off on Strong truck, SUV demand helped Ford, GM raise prices in June
Strong truck, SUV demand helped Ford, GM raise prices in June
Strong demand for sport utility vehicles and trucks in June helped General Motors Co and Ford Motor Co offset slowing demand for sedans by allowing them to raise prices on their trucks. GM and Ford said …
1 July, 2015 by The TZ Newswire Staff Comments Off on ArcelorMittal Mexico unit to slash 2,800 jobs
ArcelorMittal Mexico unit to slash 2,800 jobs
ArcelorMittal, the world’s largest producer of steel, will cut 2,800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, while accusing Russia, …