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US stock market gains wiped out to close second volatile day on Wall Street

Dow Jones ends day with big losses after initially appearing to bounce back from ‘Black Monday’ of global sell-offs, sparked by China economy fears

US stock markets continued to seesaw on Tuesday following a day of global sell-offs sparked by fears that China’s economic boom is slowing.

The Dow Jones industrial average initially appeared to be bouncing back from “Black Monday” – a day when it crashed more than 1,000 points before ending the day down 586 points.

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Source: The Guardian Circular Economy RSS

Just Mayo is just not mayo: FDA says eggless mayonnaise must change name

Hampton Creek Foods’ vegan sandwich spread, which is made without eggs and packaged with ‘misleading’ labels, violates condiment’s ‘standard of identity’

As a name, Just Mayo just won’t do.

Hampton Creek Foods Inc, a California healthy food startup, can no longer refer to its vegan sandwich spread Just Mayo as mayonnaise because it doesn’t contain eggs, the US Food and Drug Administration has said.

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Source: The Guardian Circular Economy RSS

Hedge funds set to bank millions by short selling during London share slump

Markit data shows that the value of the short positions hedge funds have taken, effecting betting that FTSE 100 share would fall, is £17.8bn

Hedge funds are set to bank tens of millions of pounds from the slump in share prices in London, having bet almost £18bn that the FTSE 100 would fall.

The funds making the bets include Lansdowne Partners, which is run by George Osborne’s best man, Peter Davies, and Odey Asset Management, which is led by Crispin Odey – who made millions by predicting the credit crisis and earlier this year said the world was heading for a downturn “likely to be remembered in 100 years”.

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Source: The Guardian Circular Economy RSS

Asia's richest man Wang Jianlin heads list of big losers in China crash

Tycoon lost $3.6bn on ‘Black Monday’, according to Bloomberg, as 24 billionaires saw their fortunes fall by more than $1bn in one day

Asia’s richest person was the largest loser in Monday’s stock market crash in China, after stocks in the region fell dramatically.

Chinese tycoon Wang Jianlin, whose UK interests include luxury boat firm Sunseeker yachts and commercial property in London, lost $3.6bn (£2.3bn) on Monday, according to the Bloomberg Billionaires Index. Wang’s main business vehicle intends to build a five-star hotel on the Nine Elms regeneration site in south-west London, billed as the first Chinese luxury hotel overseas.

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Source: The Guardian Circular Economy RSS

Six ways China has tried to remedy economic slowdown and shares slide

Governments can pull many levers to influence the behaviour of households, businesses and investors – Beijing has opted for half a dozen

China has tried to reboot its economy for the last year after it became obvious that a slowdown in early 2014 was turning into a steady decline in growth. Governments can pull many levers to influence the behaviour of households, businesses and investors. Here are the six main ones Beijing has used.

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Source: The Guardian Circular Economy RSS

Starbucks and palm oil, wake up and smell the coffee

Consumer action is vital if we’re going to tackle deforestation and social exploitation in the palm oil supply chain

Two years after Starbucks stated publicly that it was committed to using 100% RSPO (Roundtable on Sustainable Palm Oil) certified sustainable palm oil in products such as its raspberry chocolate chip scone and Mallorca sweet bread by 2015, customers are in the dark. Has or hasn’t the coffee giant eliminated conflict palm oil from its supply chain?

Starbucks’ public commitment, made in 2013, followed a shareholder resolution requesting the board of directors adopt and implement a comprehensive sustainable palm oil policy.

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Source: The Guardian Circular Economy RSS

US stock markets surge at opening bell as global market panic appears to ease

Dow Jones rises more than 300 points in first two minutes after opening bell following three days of falls on stock markets that erased close to $3tn globally

The global stock market panic appeared to be easing Tuesday as US markets opened up following a dramatic sell-off by investors around the world dubbed “Black Monday”.

Related: Stock markets surge after China cuts interest rates – live updates

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Source: The Guardian Circular Economy RSS

How the lowly mosquito came to dominate the planet – and us

Mosquito-borne illnesses have turned the tide of major battles, prevented settlement in many regions and even contributed to the fall of Rome

Boasting more than 3,500 species inhabiting every continent except Antarctica, it’s no secret the mosquito is an annoying insect.

Though the majority of mosquito species are harmless to humans, feeding on flower nectar and animals, others have changed the course of history thanks to the punishing diseases they transmit. Some historians even say mosquito-borne illnesses contributed to the fall of Rome. As Bill Gates has pointed out, these whiny little insects are by far the world’s most deadly species.

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Source: The Guardian Circular Economy RSS

China seeks to reassure stock markets with rate cut and looser lending

The People’s Bank of China reduces the one-year lending rate in a signal of readiness to head off a repeat of June’s stock market crash

China has sought to calm its panic-stricken stock markets by cutting interest rates and loosening constraints on bank lending after a second day of plunging share prices.

The People’s Bank of China (PBoC) reduced the one-year lending rate to 4.6% in a clear signal that it was prepared to head off a repeat of the stock market crash that hit the country in June. The benchmark Shanghai Composite fell by 7.6% on Tuesday, bringing its loss in the last two days to more than 15%.

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Source: The Guardian Circular Economy RSS

European companies beat US to Iran business after nuclear deal reached

US firms await outcome of Congress deliberations over Iran agreement, leaving them at the back of the queue for a market due to reopen after years of sanctions

The ink was barely dry on the agreement with Iran to limit its nuclear programme before a German government plane packed with the nation’s economic elite touched down in Tehran.

The trip was the first in a rush of European ministers and business people flocking to a market poised to reopen after years of grinding sanctions. Upscale Tehran hotels are packed and tables at trendy restaurants are scarce as foreigners jostle for bargains, even amid uncertainty over whether President Obama can overcome US congressional opposition to the deal.

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Source: The Guardian Circular Economy RSS