6 July, 2015 by The TZ Newswire Staff Comments Off on Oil prices stabilise after massive selloff, but outlook remains weak
Oil prices stabilise after massive selloff, but outlook remains weak
Brent crude (LCOc1) was up 45 cents at $56.99 a barrel, following a more than 6 percent drop in the previous session. Despite the slight increases, most analysts were bearish in their price outlook. “Macroeconomic headwinds are rising — be it in the form of the collapse in the Chinese stock market, Greece’s potential exit from the eurozone or a stronger dollar.
6 July, 2015 by The TZ Newswire Staff Comments Off on U.S. banks post detailed crisis plans to avoid breakup threat
U.S. banks post detailed crisis plans to avoid breakup threat
After the 2007-09 financial crisis, the banks were required to submit so-called “living wills” each year to show how they would proceed through bankruptcy during a crisis without quietly relying on government support to avoid putting the entire financial system at risk. Last year there was no such joint determination because while the FDIC did use the term, the Fed did not.
6 July, 2015 by The TZ Newswire Staff Comments Off on Samsung Electronics profit guidance suggests costly S6 miss
Samsung Electronics profit guidance suggests costly S6 miss
South Korean tech giant Samsung Electronics Co Ltd on Tuesday guided for weaker-than-expected second-quarter earnings, as a supply shortage plagued its latest smartphone launch and tepid demand from key markets likely undercut sales. The guidance suggests that Samsung, while on a gradual recovery path, will struggle to replicate the explosive growth it recorded at the turn of the decade as smartphone competition intensifies and demand softens in China and Europe.
6 July, 2015 by The TZ Newswire Staff Comments Off on Reddit CEO apologizes after outrage over employee dismissal
Reddit CEO apologizes after outrage over employee dismissal
Reddit Chief Executive Ellen Pao on Monday issued an apology to users of the popular social news platform over the way the company handled the dismissal of a well-liked employee last week, a move that drew widespread outrage from users. The site’s former Director of Talent, Victoria Taylor, was dismissed from the company on Thursday, prompting moderators to shut down in protest roughly 300 discussion sections, also known as subreddits.
6 July, 2015 by The TZ Newswire Staff Comments Off on China economic uncertainty a potential risk for U.S. chipmakers
China economic uncertainty a potential risk for U.S. chipmakers
Tumbling markets and economic uncertainty in China pose a risk to major chipmakers such as Qualcomm Inc (QCOM.O) that derive a big portion of their sales from the world’s second-largest economy. Consumer electronics giant Apple Inc (AAPL.O) could also be vulnerable – 17 percent of the company’s overall revenue last fiscal year came from China, and in the most recent quarter it sold more iPhones in the country than in the United States for the first time.
6 July, 2015 by The TZ Newswire Staff Comments Off on Services sector activity growth slows in June: Markit
Services sector activity growth slows in June: Markit
U.S. services sector expansion eased for a third straight month in June, pressured by a slowdown in employment and output growth, an industry report showed on Monday. Financial firm Markit said its final reading of its Purchasing Managers Index for the services sector slipped to 54.8 in June, matching the preliminary reading. Markit’s May reading of new business at service companies ticked higher from the prior month and was above the preliminary reading.