Gold slumped on Wednesday after the durable goods report showed that US business spending continued to rebound last month.Orders for things built to last such as appliances rose 4.8%, the Census Bureau said, while business capital…


Monte dei Paschi Nearing The End

For seven years, Italy’s third-biggest bank has repeatedly skidded to the edge of collapse, only to be bailed out by investors or the government. Now Chief Executive Officer Marco Morelli has until year-end to raise…



Facebook Built China Censorship Tool

Facebook Inc has quietly developed a censorship tool that could persuade China to allow the world’s biggest social media network to re-enter the world’s second largest economy after a seven-year ban, the New York Times…




Panasonic Invests $60m in Laundry Robot

When a Japanese startup unveiled the world’s first robot that folds laundry some critics called it ‘ridiculous, frivolous, and a waste of engineering talent’. But electronics giant Panasonic thinks otherwise, and has invested $60m (£49m)…



Facebook to Buy Back $6 billion in Stock

Facebook is buying back up to $6 billion of its stock from shareholders, the company announced in a SEC filing on Friday. The board of directors of Facebook has authorized a share buyback of up to…


Jimmy Choo Revenue Grows

Luxury retailer Jimmy Choo reported revenue growth for the second half on Friday and said it was on track to deliver full-year underlying profits in line with expectations. Many luxury brands are complaining that the…