Articles by Jerin Mathew

Follow : @jerinmatthewmm Email : j.mathew@ibtimes.com

China devalues yuan for third straight day taking fix to 4-year low

People's Bank of China's fresh devaluation by 1.1% raises fears of global currency war.

Aug 13, 2015

US market watchdog charges traders who made over $100m from stolen press releases

US SEC has charged traders who infiltrated servers of news agencies and stole more than 100,000 press releases.

Aug 12, 2015

Hong Kong police raid Uber offices and detain 3 employees

Uber is facing probe in Hong Kong over its drivers, who allegedly operate without proper licence and insurance.

Aug 12, 2015

Uber Hong Kong

Wells Fargo explores sale of US crop insurance business

US banks under pressure from regulators to strengthen balance sheets by reducing exposure to high-risk businesses.

Aug 12, 2015

Barclays and Credit Suisse face large US fines over alleged 'dark pool' malpractices

Banks are in talks with US regulators to settle claims of alleged unfair practices.

Aug 12, 2015

Barclays

$General Electric\'s Shares Jump 10%$

General Electric agrees to sell healthcare finance unit to Capital One for $9bn

Sale part of GE's move to divest $100bn worth of financial assets under GE Capital by end of 2015.

Aug 12, 2015

Alibaba invests $4.6bn to acquire 20% stake in electronics retailer Suning

In return, Suning would acquire a 1.1% stake in Alibaba as part of their strategic partnership agreement.

Aug 11, 2015

$Shire\'s manufacturing facility in Lexington$

Shire seen having to raise offer price to get Baxalta to negotiating table

Baxalta's Ludwig Hantson reiterates proposal is 'wholly inadequate'.

Aug 11, 2015

Kraft and Heinz post lower sales in first post-merger earnings release

Sales at Heinz fell by 4.9% to $2.62bn in second quarter, while sales at Kraft fell by 4.1% to $4.52bn.

Aug 11, 2015

Food delivery apps pose stiff competition for KFC and McDonald's in China

App-based start-ups backed by internet firms such as Alibaba and Tencent aggregate local restaurants, deliver food and offer discounted dishes.

Aug 10, 2015

Japan to restart first nuclear reactor since Fukushima disaster

Kyushu Electric Power will open reactor at Sendai facility.

Aug 10, 2015

Apple supplier Foxconn to set up $5bn project in India

Foxconn will invest $5bn over next five years in new plant in Pune in Maharashtra.

Aug 10, 2015

Apple Samsung

Warren Buffett's Berkshire Hathaway nearing its biggest acquisition at about $30bn

Company close to signing agreement to buy Precision Castparts, which makes aircraft components and energy-production equipment.

Aug 10, 2015

BHP Billiton axes 380 mining jobs in South Australia

Company cites global challenges in resources sector among reasons for job cuts.

Aug 10, 2015

Dick Costolo resigns TweetDeck dissolves

Dick Costolo may exit Twitter's board in possible shakeup

Current Twitter board consists of three former CEOs – Jack Dorsey, Ev Williams and Costolo – a rarity in corporate world.

Aug 8, 2015

Twitter

China reports weaker trade figures in escalated worries for economy

China's exports in yuan terms declined 8.9% year over year in July, while imports fell 8.6%.

Aug 8, 2015

$Berkshire Hathaway\'s Eurobonds$

Warren Buffett's Berkshire Hathaway reports 37% decline in profit

Second-quarter results were impacted by lower investment gains and underwriting losses in insurance business.

Aug 8, 2015

Indian pension fund investing in equities for first time

The Employees Provident Fund Organisation (EPFO) will invest Rs 50bn in two exchange traded funds.

Aug 7, 2015

Saudi Arabia set to borrow heavily as low oil prices create budget deficits

Saudi used almost $62bn of its foreign currency reserves so far in 2015, and borrowed $4bn from local banks in July.

Aug 7, 2015

Saudi Arabia OPEC

Citigroup's sale of OneMain Financial to be delayed on antitrust concerns

Springleaf Holdings, which is set to acquire unit, says deal would be delayed beyond third quarter.

Aug 7, 2015

Citigroup

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