Drop in Oil Prices sets off Alarm Bells in Producers and Shareholders
The well-publicized drop in oil prices this week has been celebrated by the masses all over the world as an answer to years of demands. However, the picture is far from rosy on the other side, as oil exporters and shareholders reacquaint themselves with a sub-$60 per-barrel pricing after a considerable hiatus.
Increasing amounts of oil production from countries outside the OPEC (Organization of the Petrol Exporting Countries) is loosening OPEC’s stranglehold over the global petroleum ma
Date: Dec 16
Chinese Construction Shares Rise on Stimulus Bets
For the second consecutive day, China’s stocks have risen, led by railway and construction companies. Their growth has been based on the speculation that the government will take improved steps to support economic growth.
China Railway Group Ltd. and China State Construction Engineering Corp. gained more than 7 per cent, enough to lead the rise for infrastructure related companies. Meanwhile, Premier Li Keqiang is visiting Kazakhstan to forge a Silk Road Fund that could finance the buil
Date: Dec 15
Citigroup Charges Investors with US$2.7 Billion for Legal Expenses
Citigroup gave its investors a surprise with its 4th quarter results on Tuesday, with an expected US$2.7 billion legal charge associated with multiple investigations.
Citigroup has been discussing for settlement with banking regulators and federal prosecutors over a series of investigations connected to possible manipulation in the lax anti-money-laundering controls and the currency market. The 4th quarter charge also reveals the expected cost of a separate inquiry about the role Citigroup an
Date: Dec 10
Southern Company Got Warning from State Monitor on Ga. Nuclear Plant Costs
State monitors has warned Southern Co. that building a multi-billion dollar nuclear plant in Georgia without having a comprehensive construction schedule could cause financial penalties.
A report was filed by an analyst and an engineer working for state regulators. They supervise the elevation of two new reactors situated at Plant Vogtle in eastern Georgia. The warning was mentioned in that report.
The Public Service Commission has notified for at least two years that Georgia Power, a subs
Date: Dec 08
India to Export Carabeef to Russia
According to some recent talks between India’s (APEDA) and phyto-sanitary watchdog Rosselkhoznadzor, Russia has permitted the imports of buffalo meat (carabeef) from India.
This act falls under the Ministry of Commerce and Industry of India. The move is placed a few days ahead of the Russian President’s visit to India. Rosselkhoznadzor in association with the Ministry of Agriculture of Kazakhstan has involved Indian exporters on its buffalo meat import list.
Date: Dec 08
Activist Investor Barington Urges Omnova Solutions to Break Up
Activist investor Barington Capital Group LP has sent a letter to the Ohio based Chemicals Company Omnova Solutions Inc. urging it to break up. Barington believes that Omnova has not performed well and can do better if it focuses on its biggest operations, as stated in the letter.
The investor holds almost 2% of the stake in the company.
Omnova has two operational business segments. The first one is performance chemicals that consists of chemicals and coatings, which is used in a wide rang
Date: Dec 04
Morgan Advanced Materials Rebuts Vesuvius’s Merger Proposal Rejection
After a rejection by the company’s board, an engineering group named Vesuvius deserted the approach for its merger with its rival Morgan Advanced Materials.
Vesuvius had offered an all-share merger between the two companies and this would have created a deal of almost £2bn – becoming a higher margin leader in the advanced materials and ceramics technology.
Nevertheless, the timing of the announcement by Vesuvius made Morgan Advanced Materials very curious. T
Date: Dec 02
Xiaomi Sells its Redmi Note Phones with a Flash Sale on Day 1 of Launch
Xiaomi revealed that will sell 50,000 units of its smartphones named Redmi Note through its online retail partner Flipkart on Tuesday. The Chinese smartphone maker also announced that will sell the first 50,000 phones to the buyers who have registered themselves on Flipkart for the sale.
The phone is priced at INR8, 999 with features such as dual-SIM support and dual standby. It comes with Android 4.2.2 and Xiaomi’s MIUI v5skin as the covering. The Chinese phone is powered with a 1.7GHz
Date: Dec 02
Oil Below $65; OPEC Leaves it to the Market to Decide Future Oil Prices
Oil prices are bluntly falling on a global front and chances are high that they may fall further down. In a recent event, oil prices of West Texas intermediate reduced to less than $65 per oil barrel, the least since July 2009. Speculations are ripe that the prices would further drop before OPEC’s decision of maintaining the current volume of oil output and leaving the decision of increasing or decreasing oil output upon the market demands.
Liquid government bonds be
Date: Nov 28
Connection Between Parents Level of Education and Childs Obesity: Study
Researchers have found that there is a apparent connection between a child’s weight at 11 years of age and his or her parent’s education. Studies show that compared to 15% of girls and boys whose parent or parents had an educational degree, 25% of children whose parents had little or no educational qualifications were obese.
The long-term study conducted by the Institute of Education also suggests that at the start of the new century, one in five kids born in the U.K. was ob
Date: Nov 27