Archive

GE Announces $5bln. Debt Buy Back, Market Unmoved

  General Electric (NYSE: GE) has revealed its intention to repurchase debt worth $5 billion in an attempt to slash debt load, which will aid its turnaround in operations. The company’s buyback will include a combination of 2.5 billion of

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Apple Up on Launch of New iPhone’s at Attractive Prices

  The shares of Apple Inc. (Nasdaq: AAPL) have been gaining for the past three trading days after the tech company launched three new versions of its iPhones on Tuesday. Furthermore, the company also unveiled a Watch and TV subscription

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Turkey Central Bank Opts For Deeper Rate Cut Again

  The Turkish Lira gained against the greenback yesterday despite a greater-than-anticipated rate cut by the central bank of Turkey. The primary reason was that some of the major participants in the financial markets had expected the country’s central bank

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US Dollar Up On Increase In Wholesale Inventories

  The US dollar gained against the Japanese yen as economic data released yesterday indicated a rebound in wholesale inventories in July. The greenback’s rally was also fueled by a small increase in the US producer prices in August. The

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Nasdaq Lists Decentralized Finance Index For Blockchain

  The cryptocurrency market remains range bound as there is no big news that could spark high volume trades. Bitcoin (BTC) continues to trade slightly above the $10,000 level. At the time of writing this article, Bitcoin was trading at

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Elliott Management Acquires $3.20bln Stake In AT&T

  The shares of AT&T Inc. (NYSE: T) soared $0.79 or 2.15% to close at $37.58 yesterday after activist investor Paul Singer’s Elliott Management took a $3.20 billion stake in the telecom company’s stock. It is the largest investment ever

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China Inflation Remains Unchanged at 2.8%, PPI Declines

  After losing ground to the greenback on Monday, the Chinese yuan rebounded yesterday morning following the release of better-than-anticipated inflation rate in August. However, the yuan was unable to consolidate as data released late yesterday indicated a decline in

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Takasbank To Launch Gold Trading On Blockchain Platform

  The cryptocurrency market remains mixed with some of the top 20 altcoins in the green, while the others are in the red. Bitcoin (BTC), however, continues to trade above $10,000 level. At the time of writing this article, Bitcoin

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Pound Up On Better-than-anticipated July GDP Data

  The British pound surged sharply yesterday against the greenback after the Office for National Statistics (ONS) published better-than-anticipated GDP growth in July. The positive GDP data comforted the market, which was worried about recession ahead of the UK’s exit

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Alibaba Acquires Chinese e-commerce Firm Kaola for $2bln

  China’s e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) has announced that it is acquiring Kaola, a cross-border e-commerce business unit, from the Nasdaq-listed Chinese internet enterprise NetEase for roughly $2 billion. The acquisition would enable Alibaba to further

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