Business

China Suspends Stock market "Circuit Breaker"

Chinese stocks nosedived Thursday, tumbling more than 7 percent in the first half-hour of trading, causing Beijing's securities regulator to step in and suspend trading for the day. Chinese stock exchange officials have reportedly suspended its circuit breaker policy. Thursday's battering of the markets followed a similar pounding on Wednesday and was the third negative trading session out of four in the new year.

Business

China suspends 'circuit breaker' mechanism after trading halted

On Thursday, it was triggered within half an hour of trading. The Shenzhen index advanced 1.98 percent, or 212.84 points, to close at 10,973.12 points. With Beijing accelerating the yuan's depreciation to make its exports more competitive, investors fear China's economy is even weaker than had been imagined.

Business

Chipotle Faces Criminal Probe Over Norovirus

In the SEC filing, Chipotle said it intends to fully cooperate, though it's unclear at this point what criminal violations or charges might be pursued. It also vowed changes to step up food safety at its restaurants, in part by tweaking its cooking methods and increasing testing of meat and produce. Chipotle spokesman Chris Arnold on Wednesday declined further comment, saying, "we don't discuss details surrounding pending legal action".

Business

Oil extends losses, nears $33 a barrel

That added to concerns about the country's crude oil demand amid a global glut of the commodity. In early trading on Thursday, US benchmark West Texas Intermediate ( WTI ) for February delivery was down 88 cents, or 2.59 percent, at $33.09 (30.4 euros) - the lowest since touching $32.40 in December 2008 during the global financial crisis.

Business

Saudi Arabia could buy nuclear weapons from Pakistan: US Senator Ron Johnson

The row between Saudi Arabia, the main Sunni power, and Shia-dominated Iran erupted following Riyadh's execution on Saturday of prominent Shia cleric and activist Sheikh Nimr al-Nimr. Annual imports from Saudi Arabia - mainly packing materials and textiles - total about $60 million a year. Tehran is also reportedly backing the Houthis rebels in Yemen, while Saudi Arabia is leading a Sunni coalition in airstrikes seeking to restore control of the country for President Abed Rabbo Mansour ...

Business

Oculus Rift VR headset priced at USA $599

The device is now available for pre-order at $599, and will be shipped across the globe at the end of March. Oculus VR , the company behind the new virtual reality gaming headset Oculus Rift , has officially started taking preorders, promising to give users a glimpse into the future.


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