Global stock markets were deep in the red, rattled by the Chinese market, which plunged 7 percent at one point, leading to a nation-wide trading halt for the second time this week.
The renewed share suspension in China caused global shares to fall sharply on Thursday, with Wall Street opening more than 1% lower and European markets trading 2% down. “If contagion sets in, there will be more days throughout the year where trading is halted on the...
Saudi Arabia announced a record budget deficit and cuts to fuel and utility subsidies on Monday as the oil powerhouse suffers from a drastic fall in global crude prices. Government revenues came in at $162 billion, 15% lower than forecasts, while expenses were almost $260...
The Justice Department lawsuit, filed on behalf of the Environmental Protection Agency, accuses Volkswagen of violating the U.S. Clean Air Act, including tampering with the emissions control system and failing to report violations.
These job cuts and associated employee relocations are prompted by the closure of 40 stores that will be completed by early spring. It said slumping holiday season sales hurt its bottom line.
The Dow fell more than 300 points shortly after trading began Thursday, following a sharp selloff in China’s stock market. If the Dow dips below 16,516, it’ll be in correction for the first time since last summer.
Unsurprisingly, three-month delivery contracts of copper (down 1.4%), nickel (down 1.0%), lead (down 2.2%), zinc (down 2.5%) and tin (down 0.2%) extended the previous session’s losses in late afternoon trading, while primary aluminium futures came in broadly flat.
That happened twice in the four days it was in place. He said global markets were facing a crisis and investors needed to be very cautious, Bloomberg reported.
Revenues were estimated at $162bn – well below projections and 2014 income, while spending came in at $260bn, finance ministry officials announced at a press conference in the capital, Riyadh. However, the government has also put aside $49 billion (183 billion riyals) in...
The company said that of about 3,000 store associates impacted, “roughly 50 percent of affected store associates are expected to be placed in other positions”.