The Chinese currency renminbi, or the yuan, continued to weaken on Tuesday but analysts said more sharp depreciation is unlikely. The central parity rate of the yuan weakened 10 basis points to 6.6971 against the U.S. dollar, the weakest ...
Organto Foods has announced that it has entered into a letter of intent (LOI) with a Mexico-based privately owned real estate investment management to form a new food and agricultural joint venture. The proposed joint venture will be ...
US-based food manufacturer Hormel Foods has entered into a definitive agreement to acquire Justin’s, a nut butter-based snacking brand for $286m. Justin's four nut butter-based snack lines include spreads, squeeze packs, peanut ...
Tags: Snacking Brand, Hormel Foods
US-based rigid packaging company TricorBraun has redesigned cat litter package for Bentonite Performance Minerals (BPM), a subsidiary of Halliburton. Bentonite Performance Minerals is a producer of sodium bentonite mined from the Wyoming ...
Performance Sports Group Ltd. swung to a net loss in the fiscal third quarter ended February 29 as expected due to a precipitous drop in baseball and softball sales, retail bankruptcies and the impact of currency exchange rates on its ...
For its fiscal second-quarter 2016 (to 29 February), LED chip and component maker SemiLEDs Corp of Hsinchu, Taiwan has reported revenue of $2.92m, down 36% on $4.6m a year ago but only 2% on $2.96m last quarter. "We have made good ...
Tags: SemiLEDs
General Motors (GM) has announced a recall of more than one million pickup trucks due to a seat belt flaw. The company said the recall of the 2014-15 Chevrolet Silverado and GMC Sierra 1500 pickups is not linked to any crashes, injuries ...
Tags: GM, General Motors, Pickup trucks
Iconix Brand Group Inc. reported a loss of $263 million, or $5.44 a share, after charges of $402.4 million to writeoff the company's trademarks and goodwill. Over 90 percent of the impairment is related to the company's men's business ...
China's foreign exchange reserves dropped by 99.47 billion U.S. dollars from December to 3.23 trillion U.S. dollars at the end of January, the central bank said Sunday. The decrease was milder than a month-on-month decline of 107.9 ...
Tags: Forex Reserves, foreign exchange
The world's stock markets are spiralling downwards. The U.S. equity market fell 10 percent last month. Investor terminology calls this a "correction" not a crash. But prospects don't look good. Big investors, banks and financial ...
Tags: Economic Crisis, investment banks
China will continue to be a driver of global economy as it has sufficient investment opportunities and internal resources, a leading Chinese economist said Tuesday. "China will continue to grow economically and continue to be the main ...
In China's financial hub Shanghai, kitchen stoves now use a new energy source: shale gas, a clean energy that travels more than 1,600 kilometers to the city's homes via a series of pipelines. China has recently made breakthroughs in shale ...
Tags: Shale Gas Industry
Hong Kong has established a "future fund," with a view to securing higher investment returns for fiscal reserves. A government spokesperson says the Future Fund will have an initial endowment of 220 billion HK dollars, or 28 billion U.S. ...
Tags: Establishes, Future Fund
China's central bank on Saturday welcomed the ratification of the 2010 quota and governance reforms of the International Monetary Fund (IMF) by the U.S. Congress on Dec. 18, 2015. "Such approval means that the 2010 reforms, after ...
Tags: Ratification, IMF Quota Reform
Yesterday's U.S. interest rate adjustment narrows the scope for China to balance currency stability with economic growth. The U.S. Federal Reserve raised the benchmark interest rate by 25 basis points on Wednesday, the first increase ...
Tags: U.S.Rate, China's Policy