Daily Management Review
Economics

China Warned about the Volatility of the Yuan and Renounced the Currency Wars

China's central bank issued a statement in which it warned investors that the yuan would soon be experiencing fluctuations in both sides. Allegedly, the government does not intend to participate in the currency wars, and will intervene in the market only in exceptional cases. The People's Bank of...

British Corporate Honchos Get Paid 183 Times Compared to the Average Worker

The wage gap between the highest paid and the average worker is widening in the UK, according to a recent survey. The survey conducted among CEOs from the UK's top 100 listed firms showed that the top executives earned 183 times more than their companies' average worker in 2014. A year ago this...

Hong Kong's Economic Growth Surpassed Forecasts

Hong Kong's economy in II quarter 2015 increased by 0.4% compared to the previous three months, the government said in a statement. GDP growth in the April-June slowed down in comparison with I quarter, when it amounted to 0.7%, but was better than the average forecast of analysts surveyed by...

U.S. Crude Oil Market Tumbles Taking Asian Crude Prices With It

Fears of a global oversupply of crude oil following huge stockpiles and refinery shutdowns forced the price of US crude to its lowest in almost six-and-a-half years on Friday. Friday’s fall was preceded by more than 3 percent on Thursday as reports of a rise in stocks of more than 1.3 million...

Eurozone GDP Misses Forecast in Second Quarter, France Germany Underperform

The Eurozone economy fared below expectations in the first quarter, data released on Friday showed. The combined gross domestic product (GDP) of the 19 countries in the Economic block grew 0.3% quarter-on-quarter in the three months to the end of June, which represents a 1.2% climb year-on-year,...

Greek Parliament Votes in Favor of 3rd Bailout Package, 42 Ruling Party Members Oppose

Greece moved one step closer to being able to repay the debt to European Cnetral bank and remain with the Eurozone after its parliament approved a draft third bailout of about €85bn (£61bn). Aided by votes from opposition parties, the parliament passed the package after a marathon all-night...

Chinese Central Bank Tries to Sooth Markets, Says Further Fall in Currency Unlikely

After devaluing the yuan for three consecutive days earlier this week and sending jitters through the global markets, the Chinese central bank on Thursday tried to install some confidence among the world market by that there was no reason for the yuan to fall further given the country's strong...

Surprising Second Quater Growht for Greece; 1.5% Growth in First Two Quarters

Astonishing analysts all over the economic world, the Greek economy managed to grow in the second quarter of the current fiscal. The Greek economy, as reported on Thursday, grew by 0.8%, according to an official estimate, amidst all the cacophony of a debt crisis and threats of being thrown out of...

Carlyle and Symantec Signed a Deal of the Year

Carlyle Group led a group of investors who will participate in the transaction to repurchase at Symantec Corp. its subsidiaries Veritas, dealing with storage of data in the Internet. Investment funds will pay to the software publisher $ 8 billion, some of which will go to the repurchase of shares,...

Greece Might Still Need 'Bridge Funding' Despite Securing Bailout Package

Despite securing a bailout package on Tuesday, Greece might still need a bridge funding to meet the 20 August deadline for repayment of its debt to European Central Bank which would ensure that it remains within the European Union. The first hurdle for Alexis Tsipras, the Greek Prime Minister, is...
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