Business

Powerball jackpot climbs to estimated $700 million

The largest Tennessee Lottery Powerball jackpot in history - a whopping $ 700 million - will be drawn for Saturday night, which experts say is due to a recent surge in "jackpot fever". A woman fills out a ticket for the Powerball lottery draw at Times Square in the Manhattan borough of New York, January 7, 2016 . Ava-joye Burnett has more on your odds of striking it big.

Business

China's PBoC sets weaker fix for yuan, surprises some investors

The unpleasant start to 2016 caused by tanking Shanghai shares and the yuan's latest slip had analysts also flagging the possibility that Beijing, in its haste to stem the rot in the world's second-largest economy, was weakening its currency to revive sagging exports.

Business

Do You Think the Stock Market Will Fall Further From Here?

In a bid to calm nervous investors, Chinese officials suspended the halting mechanism, which had been in effect for only four days. The latest plunge in Chinese stocks was set off by concern Beijing is allowing its yuan to weaken too fast against the dollar.

Business

CES 2016: Hoverboard booth raided following patent complaint

In an unusual moment at the Consumer Electronics Show in Las Vegas, two US federal marshals showed up at a Chinese company's booth and carried away their one-wheeled skateboard that was on display. The US company first launched the device on Kickstarter and attracted US$630,000 in pledges. The raid was conducted at the request of a company called Future Motion, the original maker of the one-wheeled hoverboards.

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.