Business News

Chinese Currency Faces Increasing Pressure

Chinese Currency Faces Increasing Pressure

The Chinese government is putting in efforts to stabilize the currency markets. The central bank of the country adding verbal support to the exchange rate following a drop in the currency's value in the past week against the green back to point that was lower than a key level.

Crude Futures Remain Close to Two Month Low as Over Supply Concerns Intensify

Crude Futures Remain Close to Two Month Low as Over Supply Concerns Intensify

Oil futures are still dropping. On Friday, they ended the session at two month's lowest level as oversupply worries intensified following a data, revealing a rise in U.S. oil rig counts last week. It was a four weekly rise in a row. A strong dollar also played a major role in keeping prices low.

Reportedly Verizon is Expected to Acquire Yahoo for $4.8 Billion

Reportedly Verizon is Expected to Acquire Yahoo for $4.8 Billion

Reportedly, Verizon Communications Inc. has agreed to buy Yahoo Inc for $4.8 billion. The deal expected to be announced officially on Monday, will end Yahoo's long drawn auction process and uncertainties.

Even after System is Restored Southwest Airlines Flights Face Delays

Southwest Airlines

Southwest airline faced a computer router failure on Wednesday which caused a breakdown in several technology systems resulting in delays and cancelled flights on Wednesday, Thursday and Friday. Later on Friday, the company said those systems were fully restored.

Unemployment Rate in California Climbs for First Time in Almost Six Years

Unemployment Rate in California Climbs for First Time in Almost Six Years

The unemployment rate in California is on the rise. After May's 5.2 percent the unemployment rate in the state climbed to 5.4 percent in June. According to the Employment Development Department, increase in unemployment rate was noted for the first time in about six years.

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