With a proposal of merging of the world's largest supplier of the public-traded commodities, Glen Core International PLC (GLEN), with Xstrata PLC, China is reviewing the effect the alliance will put on Chinese copper market. The statement regarding the same was given by the GLEN on Tuesday.
Considering the rising budget deficit, Venezuela had no better option but to devalue its currency by 32% against dollar. It has been confirmed by cancer-stricken President Hugo Chavez that the bolivar would go from 4.3 to the dollar to 6.3 under the official exchange rate.
A recent report showed that though European shares have seen spike, same can't be said about the euro, which was seen at its two-week low on Friday. It has been claimed that the reason could be linked with the European Central Bank indicating that they might cut interest rate again.
As per a recent report, profits for GE or General Electric for the fourth quarter have this time crossed its expectations. While a quarter earlier, the company received orders making profit of $203 billion, the same this quarter came with a heavy log jam and the profit touched $210 billion.
Alibaba Group Holdings Ltd., which is accredited as the biggest e-commerce company in China has made certain arrangements for an initial public offering. Sources known to the matter were of the view that the company has hired Credit Suisse Group AG as well as Goldman Sachs Group Inc. (GS) to do the task.
On Tuesday, figures released by Germany Government clearly indicated that how its economy initially grew in the first three quarters and then shriveled in the last one. In 2012, there was a modest growth by 0.7%.
Due to debt crisis, there are 17 European Union countries using euro that have been affected. In comparison to them, Germany is one that grew faster in 2012.
US Business News
New Zealand News
- After Suspected Botulism, CFIA Warns People
- Health Care Education Necessary for the Future of Province: Analysts
- B.C. Government Grants $700,000 for Managing Facial Deformities
- Michelle Shocked delivers hate speech about homosexuality at her gig
- Guess who Justin Bieber got burned by?!! His ex-girlfriend Selena Gomez