Business News - The Last 24 Hours

P2P lender Lufax taps four banks for Hong Kong IPO
China Daily - 2 hours 38 min ago
Lufax's stand at Shanghai Digital Information Fair, June 30, 2016. [Photo/VCG] Lufax, China's biggest peer-to-peer lending platform backed by Ping An Insurance, is in talks with four investment banks about taking leading roles in its planned Hong Kong IPO, people familiar with ...
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CNBC - Why investors will be paying close attention to this IPO today - 19 hours 47 min ago
COMMENTARY:
Seeking Alpha - U.S. IPO Week Ahead: 7 Deals Slotted To Raise $1 Billion Total - 2 hours 49 min ago
NY Post - Nutanix stock spike signals juice back in tech IPOs - 3 hours 3 min ago
BusinessInsider - A behind-the-scenes look at what actually goes on during an IPO on the New York Stock Exchange - 16 hours 12 min ago
Zacks - The Zacks Friday Finish Line Highlights: Spotify, IPOs, OPEC, Twitter - 17 hours 10 min ago
SCMP - Borrow money for IPO? Shanghai Port pays the price with a rating cut - 20 hours 4 min ago



Fund to back China's E. Africa investment
China Daily - 2 hours 38 min ago
Establishment of CADFund representative office in Nairobi seen as catalyst for growth The China-Africa Development Fund said on Thursday that it was poised to strengthen its investment efforts in the East Africa Community region with the establishment of its representative office in Nairobi, Kenya. ...
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China Daily - China releases sugar reserves to stabilize supply - 5 hours 8 min ago
Reuters - China's yuan joins elite club of IMF reserve currencies - 5 hours 40 min ago



India, US to add advance manufacturing in their Science and Technology Dialogue
Indiatimes - 2 hours 46 min ago
A decision in this regard was taken during the India-US S&T Joint Commission Meeting held at the White House.
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Indiatimes - China manufacturing continues rebound in September - 2 hours 57 min ago
China Daily - China's non-manufacturing PMI grows at faster pace - 5 hours 8 min ago
COMMENTARY:
Zacks - Zacks.com featured highlights: Energy Recovery, Simpson Manufacturing, OraSure Technologies, Provident Financial Services and National Bank Holdings - 19 hours 8 min ago



Apple loses patent retrial to VirnetX, owes $302.4 million
Indiatimes - 3 hours 27 min ago
Apple will also have to contend with the trial in a second lawsuit VirnetX filed against Apple over newer versions of Apple security features, as well as its iMessage application.
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CNBC - Angry man smashes iPhones and Macs at Apple Store in France - 10 hours 41 min ago
COMMENTARY:
TechCrunch - Apple is screwing up HomeKit; here’s how they can fix it - 11 hours 37 min ago
Zero Hedge - Project Mayhem - Man Calmly Enters Apple Store And Crushes Every iPhone In Sight With A Ball Bearing - 15 hours 20 min ago
Seeking Alpha - Apple's Tired Old Macs Soon To Get Upgrades - 15 hours 49 min ago
24/7 Wall St. - Firm Offers $1.5 Million for Apple iOS Jailbreak - 17 hours 58 min ago
Zacks - The Zacks Stocks in the News Blog Highlights: West Elm, Amazon, Nike, Apple - 18 hours 1 min ago
BusinessInsider - This is the giant auditorium that Apple is about to cover with dirt (AAPL) - 18 hours 32 min ago



Kudlow: Hillary’s Red Army march of tax-hike destruction
CNBC - 5 hours 3 min ago
The Clinton campaign's message on taxes reminds me of the orderly march of the Chinese Red Army on the way to battle.
RELATED:
BBC - Insurance tax rise 'a raid' on consumers, says industry - 11 hours 24 sec ago
New York Times - New Jersey’s Low Gas Tax to Rise 23¢ Under Deal - 11 hours 6 min ago
Indiatimes - GST Council okays draft rules, agrees to refund mechanism for central and state tax holidays - 12 hours 32 min ago
COMMENTARY:
BusinessInsider - Joe Biden slams Donald Trump for his tax comments: 'Just pay your fair share for God's sake' - 18 hours 34 min ago
SCMP - China’s VAT tax reforms are pushing small businesses to the brink - 21 hours 55 min ago



Motor racing - Alonso encouraged by Honda progress
Indiatimes - 5 hours 33 min ago
MOTOR-F1-MALAYSIA-ALONSO:Motor racing - Alonso encouraged by Honda progress
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Indiatimes - Motor racing-Alonso encouraged by Honda progress - 17 hours 13 min ago



Police to review corruption evidence before FA
Indiatimes - 5 hours 33 min ago
SOCCER-ENGLAND-CORRUPTION:Police to review corruption evidence before FA
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Indiatimes - UPDATE 3-Soccer-Police to review corruption evidence before FA - 14 hours 8 min ago
COMMENTARY:
WSJ Blogs - Corruption Currents: Fed Targets China AgBank For AML Failures - 9 hours 28 min ago



In OPEC hotel, dealmaker’s gambit wins Saudi-Iran agreement
Indiatimes - 7 hours 11 min ago
Riyadh wanted Tehran to freeze at a level of 3.6 million barrels per day, while Iran insisted on production of at least 4.2 million barrels.
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Reuters - OPEC oil output hits record on Iraq, Libya boost: Reuters survey - 15 hours 16 min ago
COMMENTARY:
Seeking Alpha - Energy Recap: Surprise OPEC Deal - 9 hours 35 min ago
WSJ Blogs - Oil Falls as OPEC Deal Raises Questions - Energy Journal - 16 hours 45 min ago
24/7 Wall St. - OPEC Production Cut Could Be Big for Top Oilfield Services Stocks - 18 hours 42 min ago



A Deutsche Bank settlement overshadows U.S. equities
Reuters - 7 hours 31 min ago
NEW YORK (Reuters) - Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice over the sale of mortgage-backed bonds.
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CNBC - Cramer: Deutsche Bank was never in much danger - 10 hours 17 sec ago
AP - Q&A: Will Deutsche Bank become the next Lehman? - 14 hours 38 min ago
Reuters - Deutsche Bank nears $5.4 billion settlement over mortgage bonds: AFP - 16 hours 29 min ago
Indiatimes - Will Deutsche Bank become the next Lehman Brothers? - 17 hours 24 min ago
CNN - Qatar is losing billions on Deutsche Bank - 18 hours 12 min ago
New York Times - Breakingviews: Deutsche Bank Has Problems, but Not With Liquidity - 18 hours 31 min ago
COMMENTARY:
NY Post - Deutsche Bank rebounds after DOJ settlement scare - 4 hours 47 min ago
WSJ Blogs - U.S. Bank Stocks Follow Deutsche Bank Higher - 9 hours 49 min ago
Zero Hedge - Rumor Rescues Deutsche From Banking Bloodbath But Gold Tops Stocks In September - 12 hours 33 min ago
Seeking Alpha - Deutsche Bank Fixed? Nutanix Jumps 110% - Bezek's Daily Briefing - 12 hours 46 min ago
BusinessInsider - Bailing out Deutsche Bank would be a terrible decision for Angela Merkel - 15 hours 28 min ago
Zacks - Oil And Deutsche Bank In Focus - 17 hours 58 min ago
VIDEO:
Reuters Video - Deutsche Bank woes keep traders on edge - 17 hours 2 min ago



IMF announces RMB in SDR starting on Oct 1
China Daily - 7 hours 38 min ago
International Monetary Fund Managing Director Christine Lagarde announces on Friday the launch of the new IMF Special Drawing Right (SDR) valuation basket that includes the Chinese currency yuan for the first time. [Chen Weihua/China Daily] The International Monetary Fund (IMF) ...
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China Daily - IMF announces RMB in SDR starting on Oct 1 - 12 hours 8 min ago
AP - IMF leader cites 'historic milestone' for China - 12 hours 8 min ago
Indiatimes - Chinese yuan set to be inducted into IMF currency basket - 14 hours 25 min ago
COMMENTARY:
WSJ Blogs - How Technology Is Disrupting the Global Economy: Join Q&A With the IMF's Christine Lagarde - 6 hours 58 min ago



Hainan Airlines sees Beijing-Brussels passenger flow rise in 10 years
China Daily - 7 hours 38 min ago
Hainan Airlines' direct flight between Beijing and Brussels has increased five-fold in the past ten years, according to the company's Brussels chief. Yang Jiuzhou, the general manager in Hainan Airlines Brussels Office, revealed the increase at a function to mark the route's tenth anniversary on ...
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AP - Some American Airlines workers say uniforms are causing rash - 11 hours 38 min ago
COMMENTARY:
BusinessInsider - Hundreds of furious American Airlines workers claim the new uniforms are making them sick (AA) - 13 hours 37 min ago



Volkswagen Will Pay $1.21 Billion to Settle U.S. Dealer Claims
New York Times - 8 hours 19 min ago
Volkswagen AG confirmed late Friday it will make $1.21 billion in payments to 652 U.S. brand dealers as part of its $16.5 billion diesel emissions settlement to date.
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CNBC - Volkswagen will pay more than $1 billion to settle US dealer claims - 9 hours 39 min ago
Reuters - Volkswagen will pay $1.21 billion to settle U.S. dealer claims - 9 hours 50 min ago
COMMENTARY:
BusinessInsider - TomTom to supply mapping data to Volvo and Volkswagen (VOW3, VOLVB, TOM2) - 13 hours 50 min ago



Illinois to yank billions from Wells Fargo amid scandal
CNN - 9 hours 13 min ago
The Illinois treasurer plans to yank billions of dollars worth of business from Wells Fargo in the wake of the bank's fake account scandal.
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CNBC - Illinois and Chicago eye Wells Fargo business bans - 10 hours 44 min ago
Reuters - Illinois and Chicago eye Wells Fargo business bans - 10 hours 58 min ago
CNN - Wells Fargo illegally seizes soldier's car: 'I just think it sucks' - 14 hours 40 min ago
COMMENTARY:
Zero Hedge - Illinois Suspends "Billions Of Dollars" Of Investment Activity With Wells Fargo - 11 hours 44 min ago
24/7 Wall St. - Wells Fargo, Cognizant in Friday’s 52-Week Low Club - 12 hours 33 min ago
Seeking Alpha - Wells Fargo Call Writing Just Got More Attractive - 16 hours 55 min ago
Zacks - Financial ETFs in Focus on Wells Fargo's Sales Scandal - 17 hours 43 min ago



Redstones Await Response From CBS on Merger Request
New York Times - 9 hours 18 min ago
A day after the family stated its desire to merge Viacom with CBS, Viacom formed an independent board committee to consider the move.



Elon Musk to Tesla employees: NEVER discount a car
CNN - 9 hours 54 min ago
Tesla CEO Elon Musk found out his sales team has been offering discounts on cars -- and he's furious.
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CNBC - Tesla says Autopilot not to blame in crash with bus in Germany - 18 hours 24 min ago
COMMENTARY:
BusinessInsider - Here's the story of when I took a Tesla Model S on a road trip — and almost ran out of electric charge (TSLA) - 18 hours 56 min ago



Glaxo paying $20M to resolve SEC charges of China bribery
AP - 10 hours 8 min ago
WASHINGTON (AP) -- GlaxoSmithKline PLC has agreed to pay $20 million to resolve U.S. regulators' allegations that the pharmaceutical giant's China operations bribed officials to boost drug sales....
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Reuters - AB InBev to pay SEC $6 million to settle bribery charges - 17 hours 30 min ago
COMMENTARY:
24/7 Wall St. - Och-Ziff Settles With SEC Over Bribery Charges - 17 hours 52 min ago
Seeking Alpha - Weatherford's SEC Fraud Case: 4 Shocking Revelations - 19 hours 28 min ago



Amazon Creates 3 Games for Twitch Fans
New York Times - 10 hours 26 min ago
The releases, which will weave features from the popular streaming video service into the gaming experience, are Amazon’s first games aimed at hard-core players.
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CNBC - Amazon is 'our best idea,' Guggenheim's retail analyst says - 20 hours 27 min ago
COMMENTARY:
WSJ Blogs - Lisa Loeb Gets Animated In Amazon Kids' Show 'Creative Galaxy' - 11 hours 37 min ago
TechCrunch - Twitch appears to be getting its own version of Amazon Prime, called “Twitch Prime” - 13 hours 13 min ago
Seeking Alpha - Amazon Prime Growth Just Beginning - 16 hours 45 min ago
BusinessInsider - Amazon just announced 3 new PC games — here's everything we know about them (AMZN) - 17 hours 38 min ago
Zacks - Amazon (AMZN) Unveils New Fire TV Stick with Alexa Remote - 19 hours 23 min ago



Oil Markets
BBC - 10 hours 56 min ago
The oil producers' group OPEC agreed a preliminary deal on Wednesday to reduce supply. The decision at a meeting in Algiers marks the first time in eight years that OPEC's members have agreed to cut production, and oil prices rose on the news. But will the deal hold?
COMMENTARY:
WSJ Blogs - History Shows OPEC Production Cuts Can Lead to Lower Oil Prices - 8 hours 41 min ago
Seeking Alpha - Cabot Oil & Gas Looks Attractive With Higher Natural Gas Prices - 16 hours 34 min ago
Zacks - If Oil Continues to Soar, These 7 ETFs May Fall - 17 hours 9 min ago



Yahoo hack may become test case for SEC data breach disclosure rules
Reuters - 11 hours 13 min ago
WASHINGTON (Reuters) - Yahoo's disclosure that hackers stole user data from at least 500 million accounts in 2014 has highlighted shortcomings in U.S. rules on when cyber attacks must be revealed and their enforcement.
COMMENTARY:
BusinessInsider - A Yahoo insider believes the hackers could really have stolen over 1 billion accounts (YHOO) - 10 hours 27 min ago
TechCrunch - Yahoo open sources its porn-detecting neural network - 14 hours 30 min ago
24/7 Wall St. - Did Hackers Get to Yahoo CEO Marissa Mayer’s Email? - 21 hours 34 min ago



Viacom forms committee to consider Redstone's CBS merger push
Reuters - 11 hours 55 min ago
(Reuters) - Viacom Inc said it had formed a special committee to consider National Amusements Inc's proposal to combine the company with CBS Corp .
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CNBC - Viacom sets up committee to consider National Amusements proposal - 12 hours 1 min ago



Financial stocks one pocket of value left, JPMorgan strategist says
CNBC - 12 hours 29 min ago
There is a lot of headline risk in financials, but they look very cheap right now, JPMorgan's David Lebovitz told CNBC on Friday.
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CNBC - Top JP Morgan exec shares her single best piece of career advice - 18 hours 38 min ago
COMMENTARY:
Zacks - Top Research Report for JPMorgan, Marriott & Infosys - 14 hours 49 min ago



Indonesia's Garuda's U.S. return to generate 5 percent of 2017 revenue: CEO
Reuters - 12 hours 58 min ago
MONTREAL (Reuters) - Garuda Indonesia's , the country's national carrier, expects its return to the United States next year with three flights a week to generate about 5 percent of the airline's top-line passenger revenue for 2017, its chief executive said.
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CNBC - Former drug company CEO charged in $100 million fraud scheme in US - 12 hours 59 min ago
Reuters - Former drug company CEO charged in $100 million fraud scheme in U.S - 13 hours 1 min ago
CNN - Deutsche Bank CEO tells staff: Market forces are trying to weaken us - 20 hours 47 min ago
COMMENTARY:
WSJ Blogs - What Your CEO Is Reading: Smiley's Peeps; China's Future; The Cyber - 10 hours 38 min ago
Zacks - Here's What An Investment Bank CEO Told His Employees About Inequality - 11 hours 46 min ago
Seeking Alpha - McCormick's (MKC) CEO Lawrence Kurzius on Q3 2016 Results - Earnings Call Transcript - 16 hours 1 min ago
BusinessInsider - A 33-year-old billionaire CEO shares what his postcollege 'cheat sheet' for life would include - 18 hours 21 min ago
NY Post - Deutsche CEO does damage control as shares plunge - 18 hours 30 min ago
TechCrunch - Avast CEO on why it’s just spent $1.4BN to absorb security rival AVG - 21 hours 37 min ago
Zero Hedge - Deutsche Bank CEO Writes Memo To Employees, Blames "Speculators", Confirms Liquidity Flight - 22 hours 31 min ago
VIDEO:
WSJ Video - AT&T CEO: ‘Tolerance Is for Cowards’ in Speech on Racial Tensions - 15 hours 50 min ago



Fed's Kaplan scours for signs of economy overheating, finds nothing
Reuters - 14 hours 35 min ago
DALLAS (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan said on Friday that while he has scoured the data, he sees no evidence the U.S. economy is overheating, so the central bank can continue to be patient in raising interest rates.
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New York Times - Drop in U.S. Consumer Spending Clouds Fed Rate Hike Outlook - 17 hours 49 min ago
Reuters - Atlanta Fed lowers U.S. third-quarter GDP growth view to 2.4 percent - 18 hours 2 min ago



German lawyer makes hate-speech complaint against Facebook
Reuters - 16 hours 2 min ago
FRANKFURT (Reuters) - German prosecutors are again considering whether to press charges against Mark Zuckerberg and other Facebook executives for failing to staunch a tide of racist and threatening posts on the social network during an influx of migrants into Europe.
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CNBC - Where Facebook is looking to put a lot more ads - 16 hours 55 min ago
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TechCrunch - Crunch Report | Facebook Snapchat Clone in Poland - 5 hours 3 min ago
BusinessInsider - Facebook is letting businesses tag their products in photos and videos - 11 hours 51 min ago
NY Post - Facebook working with ‘major ad group’ to fix metrics screwup - 13 hours 30 min ago
Seeking Alpha - How Facebook Is Undervalued: A Rebuttal - 17 hours 37 min ago



How Clinton and Trump plan to boost Detroit and other distressed cities
CNBC - 17 hours 30 min ago
Comments Clinton and Trump made about Detroit provide a blueprint of how they would address the economy.
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New York Times - Economic View: Debate Night Message: The Markets Are Afraid of Donald Trump - 18 hours 37 min ago
COMMENTARY:
BusinessInsider - Harvard economist Rogoff: I'm 'nervous' about Trump winning - 13 hours 20 min ago



Wal-Mart to rally 27% on earnings turnaround, e-commerce: KeyBanc
CNBC - 17 hours 59 min ago
Market share gains and an inflection point in earnings could take shares of Wal-Mart to $90 in the next 12 months, KeyBanc predicts.
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CNN - Why Walmart is interested in India's biggest online retailer - 18 hours 39 min ago
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Seeking Alpha - Wal-Mart - An Impressive Cash-Generating Business - 16 hours 46 min ago



Here's what Wall Street is saying about the Deutsche Bank crisis
CNBC - 18 hours 15 min ago
Wall Street firms are cautiously defending Deutsche Bank's liquidity position.
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Reuters - Wall Street opens higher as financial stocks rise - 19 hours 5 min ago
COMMENTARY:
BusinessInsider - What you need to know on Wall Street right now - 15 hours 47 min ago
The Big Picture - Wall Street Strategists Are Bearish (and that’s good news!) - 16 hours 7 min ago
Seeking Alpha - Wall Street Breakfast: Deutsche Bank Fears Pile Up - 21 hours 38 min ago
VIDEO:
Reuters Video - Wall Street rallies, led by Deutsche Bank, financials - 11 hours 18 min ago



US consumer spending flat in August as auto purchases drop
AP - 19 hours 38 min ago
WASHINGTON (AP) -- U.S. consumer spending in August turned in the weakest performance in five months, reflecting a drop in spending on autos. Income growth also slowed as wages and salary gains slowed following four strong months....
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Reuters - U.S. consumer spending falls unexpectedly in August - 19 hours 50 min ago
CNBC - Consumer spending stalls in August as auto purchases drop - 20 hours 8 min ago
COMMENTARY:
Seeking Alpha - USD/JPY - Yen Shrugs Off Soft Consumer Spending And CPI Data - 21 hours 11 min ago



After Nissan ultimatum, Jaguar Land Rover says Brexit must be fair for all
Reuters - 20 hours 57 min ago
LONDON (Reuters) - Jaguar Land Rover will "realign its thinking" on investment after Britain's vote to leave the EU and if Nissan gets a Brexit compensation deal then other automakers would need a level playing field, Britain's biggest carmaker said.
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BBC - Ireland's post-Brexit labour pain - 21 hours 3 min ago
CNN - 100 days after Brexit vote: No meltdown (yet) - 21 hours 3 min ago
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WSJ Blogs - Brexit & Beyond: Shades of Exit; Upbeat Economic Data; German Migrant Influx - 10 hours 42 min ago
Seeking Alpha - Deutsche Bank Saga Is Brexit All Over Again - 17 hours 8 min ago
VIDEO:
CNN Video - Brexit? What Brexit? Business is booming - 20 hours 6 min ago
Reuters Video - UK consumer confidence at pre-Brexit levels - 20 hours 7 min ago



Shanghai FTZ foreign trade volume up 6.5%
China Daily - 22 hours 8 min ago
SHANGHAI - Foreign trade volume in the Shanghai Pilot Free Trade Zone grew 6.5 percent in the first eight months from the previous year, local customs said. The import and export volume in the zone reached 754.6 billion yuan ($113 billion) in the first eight months, accounting for 42 percent of the ...



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