Technology giant Apple reported an impressive $10.2 billion net profit in the second fiscal quarter of 2014, defying skepticism the company would struggle in the absence of new products. BRICS sales led the growth.
Russia can’t continue to prop up Ukraine’s faltering economy, and this responsibility should fall on the US and EU, which have recognized the authorities in Kiev but not yet given one dollar to support the economy, President Putin has said.
Mathew Martoma, a former SAC Capital hedge fund manager, has been found guilty of insider trading by a federal jury. He bought early information about drugs tests which helped his firm avoid $275 million in losses, and netted Martoma a $9 million bonus.
The world’s largest producer of potash fertilizer, a farming essential, will lower prices for some Chinese customers to $305 per metric ton. Uralkali says it signals a recovery in the market hit by last year's split of the world’s biggest potash cartel.
Luxury spending by wealthy Chinese is down 15 percent on last year, while spending on gift-giving is in a dramatic 25 percent decline, as Beijing’s anti-corruption campaign raises fears over exchanging expensive gifts, says a 2014 Hurun Report.
The UK is being accused of attempts to block EU reform to prevent food speculation. It took EU negotiators three years to agree on a regulation against speculation by banks and hedge funds which drives up food prices, aggravating the global hunger crisis.
The prospect that sanctions will be lifted on Iranian oil have sent Brent crude to $107 and WTI below $92 per barrel. If Tehran can continue to convince the US and Europe it isn’t building a nuclear bomb, prices could fall further.
Moscow has filed its first case with the World Trade Organization against the European Union, saying it was unfairly charging Russian companies hundreds of millions of dollars for allegedly reducing energy prices in global markets.