China Telecom boss Chang Xiaobing under scrutiny
China Telecom's Chief Executive Chang Xiaobing is the latest catch in Chinese government's anti-graft drive. Xiaobing is facing probe over his role in a violation of discipline. It's learnt that more than 70 top officials from state-run firms are facing investigation over anti-corruption charges. After cracking down on aviation and automobile companies, Chinese anti-corruption regulator is probing into telecom sector.
Dec 29, 2015 9:16 AM EST
Oil recovery in 2016 will strengthen Loonie
Analysts predict that oil prices may recover in 2016. This will also strengthen Canadian dollar Loonie. The commodity currency Loonie fell 20 percent against the US dollar throughout 2015.
Evergrande buys a series of new projects from New World China
Evergrande Real Estate Group Ltd. will buy $3.2 billion worth of projects from the Hong Kong billionaire Cheng Yu-Tung’s family-controlled companies.
Women's apparel, furniture sales lead 7.9% rise in US holiday retail sales: MasterCard
The 2015 US holiday season witnessed an encouraging growth of 7.9 percent, says MasterCard. Women's apparel and furniture sales helped the overall sales volume to swell. The growth rate in 2014 holiday season was 5.5 percent.
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Elbit lands $70 million deal for airborne electronic warfare system
Israeli defense firm Elbit System was awarded a $70 million deal by the Directorate of Production and Procurement of the Israeli Ministry of Defense to supply airborne electronic warfare systems. Elbit will install its electronic warfare systems on Israeli Air Force jets over the next five years.
Dec 29, 2015 8:58 AM EST
Volkswagen's Audi slows down spending plan 2016
German auto major Volkswagen has trimmed its investment plan for 2016. It has also decided to postpone the new wind tunnel project by one year. Audi division has decided to invest in plant and equipment.
Dec 29, 2015 8:36 AM EST
Japan stocks rise on steady US futures
The Japanese stocks gained marginally on stable US equity-index futures in the first session of the last trading week of 2015. Ending its longest run of weekly losses in the past two years, the Topix index also moved up. Samsung Group stocks weighed on South Korea's Kospi index pulling it lower.
Dec 29, 2015 8:23 AM EST
Oil price slid below $37; fell over 11% this month
Oil price again fell below $37 per barrel and is trading 11 percent lower in December. The slump in Chinese demand and oversupply situation in the global oil market are keeping pressure on oil prices. The shale production in the US is easing off in the wake of continuous drop in oil price.
Dec 29, 2015 7:34 AM EST
Toyota unveils the ultimate Toyota 86 GRMN racing car
Toyota motorsports division has unveiled a new concept of racing car, Toyota 86 GRMN. The car combines a turbocharger and a scroll supercharger for excellent performance. The 86 GRMN will be on sale in Japan only.
Dec 29, 2015 7:21 AM EST
Amazon Prime get 3 million new subscribers during the Christmas week
The online retailer says it sold 3 million Prime memberships in the week before Christmas. The latest figure marks a huge increase for the company and the company even described it as their busiest Christmas to date.
Dec 29, 2015 7:20 AM EST
Facebook's Oculus, Samsung and LeBron James Team Up In 'Virtual Reality' Film
An NBA legend, LeBron James has teamed up with Oculus and Uninterrupted to introduce a brand new virtual reality experience for Samsung Gear VR. The 12-minute short film will reveal the training routine of James during the basketball season. VR is often labelled just for video games, but James starring in the short film will break the stereotype that VR is only appealing to gamers.
Dec 29, 2015 6:03 AM EST
Safety agency investigates the hoverboard fires, injuries on holiday
The Consumer Product Safety Commission has started an investigation after they received accident cases due to the hoverboard. Approximately, there were 70 visits of hoverboard injuries, mostly due to falls and collisions to emergency rooms. The safety standards have been issued to avoid further accidents and organization will continue to investigate more.
Dec 29, 2015 5:01 AM EST
The next generation of Google Glass is the real deal
The new Google Glass, dubbed "Enterprise Edition", has been revealed by a filing to the U.S. FCC. The new device will be foldable, waterproof, and more durable.
Dec 29, 2015 4:56 AM EST
Apple demands additional $180M from Samsung in patent dispute
Previously, Apple penalized Samsung with $548 million for infringing iPhone patents and designs. It now wants additional $180 million to cover up interest and supplemental damages. However, Samsung is also working as partners with Apple as it supplies processors and screens for Apple's iPhones and iPads.
Dec 29, 2015 4:28 AM EST
Colombia Claim Spanish Treasure Ship Sunk in 1708
San Jose, the jewel of Spanish crown sunk in 1708 in Colombia coast. After years of claim with American group, Colombia recently announced that it has found the shipwreck last month.
Dec 28, 2015 10:24 PM EST
Russia Says Saudi Arabia Destabilized Oil Market
Continuous plunge of oil price has created an unrest in oil production countries. Russia says the act of Saudi Arabia in increasing its production to flood the market is the main cause of oil price turmoil.
Dec 28, 2015 10:15 PM EST
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