international

China Expands Foreign Access to Finance Market

China Expands Foreign Access to Finance Market

China will increase foreign ownership limits in financial firms as the country tries to become a multi-trillion dollar financial services market. Chinese President Xi Jinping has been pushing for economic reforms by opening up capital markets, inter..

Chinese Financial Industry on Thin Ice

Chinese Financial Industry on Thin Ice

In a direct contrast to its economic nationalism and rising protectionism, the Chinese have opened its financial companies to an increased foreign ownership. According to Zhu Guangyo, the Vice Finance Minister, foreign investors can now take a contr..

IBM Launches a 50-Qubit Quantum Computer

IBM Launches a 50-Qubit Quantum Computer

On Friday, International Business Machines Corp. (NYSE: IBM) introduced a quantum computer that handles 50 quantum qubits while also making a 20 qubit system as well that will be available through their cloud computing platform.Companies like I..

American International Group Expects Losses After Natural Disasters

American International Group Expects Losses After Natural Disasters

According to Reuters, American International Group Inc. (NYSE: AIG) announced that it expects to book pre-tax losses of about $3 billion in the third quarter related to natural disasters, hurricanes Harvey, Maria and Irma. American International Gro..

Elon Musk Predicts Mars Colonization by 2024

Elon Musk Predicts Mars Colonization by 2024

Elon Musk, founder of SpaceX, presented his new updated plan for the colonization of Mars at The International Astronautical Congress in Adelaide, Australia on Friday. But he said that the biggest problem for the company would be the expenses."..

Analysts Fear for the U.S. Dollar's Status as World Reserve Currency

Analysts Fear for the U.S. Dollar's Status as World Reserve Currency

It is no secret that world over, the U.S. dollar enjoys the pride of place. Central banks use the dollar as the world reserve currency and when you look at the transactions that take place across the globe, nearly 90% of them are carried out in U.S...

AIG Will Restructure into Three New Business Units

AIG Will Restructure into Three New Business Units

On Monday, American International Group Inc (NYSE: AIG) announced that it will restructure into three new business units and the Commercial and Consumer units will be cut. This is the first major move by new Chief Executive Brian Duperreault, who to..