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Toshiba Restructuring is Backed By Public Fund

Japanese government prepared a state-backed fund to help Toshiba restructure its business. Japanese electronic giant Toshiba will have to restructure after a massive loss.

Dec 31, 2015 1:05 AM EST


Toys R Us Closed Its Manhattan Flagship Store

Toys R Us closed its Times Square flagship store on Wednesday. The company is looking for a location for new store in Manhattan area.

Dec 31, 2015 12:49 AM EST


Julius Baer reaches agreement over U.S. tax cases with $200 million extra provisions

The Swiss bank Julius Baer has reached an agreement with the U.S. officials to set aside $200 million of additional provisions to settle tax evasion issue. The U.S. officials investigate the Swiss bank whether it helped American clients evade taxes.

Dec 31, 2015 12:28 AM EST


Spotify Was Sued $150 Million For Unpaid Royalties

Spotify the music streaming company is facing a $150 million class action suit from musicians over unpaid royalties

Dec 30, 2015 11:57 PM EST


Walter Energy wins court approval to stop paying retiree benefits

A federal judge published a ruling that approve the bankrupt U.S. company Walter Energy to stop paying retiree benefits to its employees and move forward to sell its assets.

Dec 30, 2015 3:09 AM EST


Energy investors hope forecasts by Saudi, Iran to go wrong

Energy investors and analysts feel that the price forecasts of Saudi Arabia and Iran are wrong. The realistic oil price may be $20 a barrel in short term if present oversupply persists. Saudi Arabia sees oil price at $29 a barrel and Iran at $40 in the near term. Saudi Arabia has slashed down its budget spending for 2016.

Dec 29, 2015 11:47 PM EST


Japanese steel output to remain flat in 2016, exports to soften

The steel inventories rose despite production cuts. The weakening demand is causing oversupply situation. The steel production levels may remain steady next year also. The iron and steel companies are suffering from decline in demand and rising inventories.

Dec 29, 2015 11:30 PM EST


Samsung Plans Initial Production of 5 Million Galaxy S7 in February

Samsung Electronics plans to start initial production of 5 million Samsung Galaxy S7 in two different version starting February.

Dec 29, 2015 7:08 PM EST


All Samsung HDTV Will Be Internet of Things Ready in 2016

Samsung announced that all of its HDTV products will be Internet of Things (IoT) ready as the company equipped the entire product with SmartThings hub.

Dec 29, 2015 7:04 PM EST


Trading suspension in Shkreli's drug company

Martin Shkreli episode is witnessing a series of developments after his arrest. California University has canceled its coordination plan on the drug trial. The stock trading was also suspended. The stock price rose from below $1 a share to about $40 during the short span of Shkreli's tenure.

Dec 29, 2015 9:24 AM EST


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.

Dec 29, 2015 9:14 AM EST