Chinese stock markets has been falling unabatedly since June 12th with the Shenzhen Composite Index leading the decline plummeting 38 percent. The crash has wiped off approximately $3.2 trillion off the markets – twice the size of India’s stock market. In order to stem the plunge of stock, 26% of firms listed on mainland exchanges suspended trading locking up $1.4 trillion worth of shares.
Apple is currently in the talks about having Russia be one of the first countries to host Apple’s upcoming music streaming service. The on-demand streaming service is rumored to debut at the World Wide Developers Conference next month. A local business publication cited sources at major Russian labels on Wednesday, which claimed Apple was in talks with the record labels about the idea.