Sales of passenger vehicles (including SUVs and minivans) in China fell in July to the lowest in 17 months, despite the increase in discounts, reports Bloomberg. Index shows drop in the second consecutive month in June, it was recorded for the first time since February 2013. According to the China Passenger Car Association (CPCA), sales last month fell by 2.5% compared to July 2014 to 1.3...

Google announced a major restructuring, which involves the creation of a new holding company Alphabet. Alphabet, which was headed by Larry Page and Sergey Brin, will include Google itself and all its many subdivisions. Google has announced a major reorganization, during which the company is going to create a new holding company called Alphabet. Search and advertising division of Google enters the...

Berkshire Hathaway is close to signing an agreement to purchase the US steel corporation Precision Castparts, whose main customers are Airbus and Boeing. The transaction amount is estimated at $ 30 billion, which will be the largest absorption not only for Warren Buffett's holding company, but for the entire aerospace industry as well. Conglomerate Berkshire Hathaway is preparing a deal to...

The largest operating company in the world Pacific Investment Management Co. (PIMCO) managed to cope with the consequences of withdrawal of one of its founders, Bill Gross, said Dieter Wemmer, the chief financial officer of Allianz SE, which is in ownership of PIMCO. The outflow of funds from PIMCO would probably soon cease, he said in an interview with Bloomberg. According to him, PIMCO plans...

Elon Musk’s company has reduced the annual forecast on supply of its electric vehicles. Now, the automaker intends to release 50-55 thousand cars, the lower threshold has not been announced yet. Tesla Motors has also announced the release date of the long-awaited crossover Model X. Consumer interest in the production Tesla Motors is so great that the company barely has time to meet the demand....

One of the world's largest online retailers - Chinese Alibaba Group announced the appointment to the post of the company’s President a well-known investment banker, former vice-chairman of the US bank Goldman Sachs, Michael Evans. Alibaba believes that Evans’ experience in international markets will enable him to actively develop business outside of China. In a statement, Alibaba Group said that...

Unable to meet investor’s expectation, shares of Apple Inc have hit their six months low. Read on to know its movement analyses so that you can make a pile irrespective of whether the shares rises or falls. With Apple’s quarterly results disappointing analysts, the shares of the iPhone maker has been lying in the rut and have fallen to their 6 months low of $113.25 on 04-08-2015.   This...

In the second quarter, Apple ceded the leadership of the Chinese smartphone market to local companies Xiaomi and Huawei, being now satisfied with third place. Samsung and another Chinese smartphone manufacturer - Vivo - are behind Apple in China. On Monday evening, the research firm Canalys reported that in the second quarter, the largest manufacturer of smartphones in the Chinese market has...

The U.S Department of Justice is probing money laundering charges against Deutsche Bank who may have out back-to-back transactions, also known as mirror transactions, on behalf of its Russian clients. Basing itself on reports from people who are familiar with the matter, the United States’ Department of Justice will begin investigation into trade related transactions that Germany's Deutsche Bank...