China's oil processing up as plants' operations resume
China’s crude processing surged to record high as the country’s refineries restarted producing up to 10.73 million barrels per day.
Dec 14, 2015 2:59 AM EST
Jumbo jets may be heading to extinction amid changes in regulations, business dynamics
The wide-body, long-range jumbo jets are facing tough competition from new age turbofan engine technology. The new mini-jumbo jets with twin-engines and fuel-efficient offer long-haul flight. Relying on these turbofan engined aircraft, many airlines are switching away from the hub and spoke model, which has been more dependent on jumbo jets. Changes in regulations and business dynamics are seeing the days of heavy jumbo jets numbered. Airbus and Boeing suffer from lack of new orders for their wide-body aircraft.
To raise money, Syria government imposes tax on Shawarma, restaurants
The Syrian government has imposed taxes on shawarma, and has imposed harsher laws on other everyday life businesses to keep economy going amidst the on-going civil war.
Colombian central bank hints at rate hike
The Colombian central bank is likely to hike interest rate in its meeting on 18 December. The central bank in its previous three meetings raised the interest rate. The Colombina economy is growing at faster rate than any Latin American economy. However, Colombia is still suffering widening gap of current account deficit.
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Congress to abolish crude export restrictions, oil refiners to receive $3 a barrel tax break
Forty year old oil export restrictions to be lifted in exchange of tax credit conditions from the Democrats.
Dec 13, 2015 9:45 PM EST
Chinese family businesses should learn from Vatican financial discrepancies
Two Italian journalists authored two books -- ‘Merchants in the Temple’ and ‘Avarice.’ These books highlighted the financial discrepancies at Vatican City. The Vatican Bank had a reputation of tax evasion and money laundering. The Vatican Pension Fund has €800-million deficit. Media reports say Chinese businesses have a lot to learn from the Vatican.
Dec 13, 2015 9:44 PM EST
On-demand parking service Luxe offers subcription options
Luxe, a parking service app, now offers a subscription option for consumers who frequently use the valet parking service. Starting at $139 per month, Luxe claims that its subscription service is up to 40% cheaper that current monthly parking option.
Dec 13, 2015 9:35 PM EST
Ted Cruz Campaign collects psychological data from Millions of Facebook users
US Presidential Candidate Ted Cruz collected massive psychological data from unwitting US Facebook users to boost his position in the presidential race.
Dec 13, 2015 9:34 PM EST
Talks of Dow-DuPont Merger: Futuristiic Powerful Mergers Can Help to Reshape the US Corporates
The big stakes are being built in big companies by the active new investors. It will help in reshaping the US corporate structure.
Dec 13, 2015 2:09 AM EST
Designer Paul Smith reorganized his fashion empire after worst performing annual profit
Britain fashion icon Paul Smith reorganized his company after annual profits halved into the lowest levels since its 40-year existence.
Dec 13, 2015 1:43 AM EST
SuperAwesome, Poki online games develops safe ads platform for kids, ensures VTech Hack won't happen again
SuperAwesome teamed up with the Poki online games to develop AwesomeAds, an advertising platform safe for kids.
Dec 13, 2015 1:30 AM EST
Qualcomm requires Three-Year stake holding before nominating for proxy
Qualcomm Inc. changed its proxy rules requiring shareholders to have their stake in the company for at least three years.
Dec 13, 2015 1:19 AM EST
Bloom Lake iron-ore mine in Quebec now has a buyer after suffering massive losses
Champion Iron Ltd. bought Bloom Lake iron ore mine in Quebec for an amount of $10.5 million after the miner crumbled down a year ago for suffering massive losses
Dec 13, 2015 1:14 AM EST
CBS CEO said Apple paused TV subscription making it hard for broadcasting firms to coordinate
CBS Corp. Chief Executive Officer Les Moonves said that Apple put on hold its TV subscription plans.
Dec 13, 2015 1:05 AM EST
Elon Musk's Open A.I. reached $1 billion funding in hopes to develop Artificial Intelligence
Tesla Motors CEO Elon Musk raised $1 billion funding for an artificial intelligence research initiative that aims to develop A.I capable of performing human tasks.
Dec 13, 2015 12:57 AM EST
Air Force to double drone squadrons in US, abroad
The Air Force announced Thursday that it plans to increase the numbers of its drone squadrons from eight to seventeen.
Dec 12, 2015 9:27 PM EST
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