Business

Hanjin Shipping edges closer to court receivership

Hanjin Shipping edges closer to court receivership

South Korea's Hanjin Shipping decided Wednesday to seek a court-led restructuring after creditor banks refused further financial help. In the past four years, Hanjin has been unprofitable and now it has a market value of 304 billion won. And going into receivership, under which a court will decide the firm's fate, will add to the headache. Suk Tai-soo, president and chief executive officer of Hanjin Shipping Co, arrives at a court in Seoul, South Korea, August 31, 2016.


Seagate Technology Sold Stakes to ValueAct Capital, Shares Soar

Seagate Technology Sold Stakes to ValueAct Capital, Shares Soar

Americafirst Capital Management LLC bought a new stake in Seagate Technology PLC during the second quarter worth approximately $238,000. Analyst had a consensus of $0.61. Seagate Technology . (NASDAQ:STX) accumulated +5.92%, closing at $36.51 after floating between $35.28 and $36.65. The stock negotiated total number of 9.48 million shares as compared to 3 months average volume of 5.57 million shares.



Ford buys shuttle service as part of new mobility push

By 2030, that number is expected to grow to 60 percent. Jim Hackett, the chairman of Ford Smart Mobility, said those tests confirmed the potential of shared shuttles. Ford sees an opportunity here because rides with Chariot are cheaper than Uber or Lyft . "We started our Chariot service with Ford's 15-passenger vehicles and continue to use Ford Transit shuttles to this day", Ali Vahabzadeh, Chariot cofounder and CEO, said in a statement.


US health regulator plans 'thorough' probe of St. Jude case

US health regulator plans 'thorough' probe of St. Jude case

Jude pacemaker was working as intended. The medical device firm is seeking relief in the form of disgorgements of any profits made by the defendants as well as damages and legals costs, according the complaint filed with the District Court for the district of Minnesota on Wednesday.


Asian stocks rise as tepid jobs report stokes low rate hopes

Asian stocks rise as tepid jobs report stokes low rate hopes

Asian stocks rose Monday as a U.S.jobs report set off hopes among traders that the Federal Reserve will wait before raising int. The poor data took the chances for a September rate hike off the table and had implications for traders' bets on the speed with which the USA central bank will raise short-term interest rates in the future, said Fabian Eliasson, vice president for currency sales at Mizuho Corporate Bank in NY.


Federal Reserve May Raise Interest Rates: What That Means For You

Federal Reserve May Raise Interest Rates: What That Means For You

Following Yellen's speech, prices for fed funds futures implied investors see roughly a 60 percent chance of a December hike, up from just above 50 percent on Thursday. Belisle said the majority of investors expecting a raise in the rate before the end of the year. After today's remarks, there is now an increasing possibility that the Fed may even act as early as the meeting in September or October.