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.
Dec 29, 2015 9:12 AM EST
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.
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.
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.
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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
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
Sportswear Stores Struggle in Race to Reach Consumers
Due to the increased sales of online retailers, independent sportswear companies are already suffering. But their major fear is competing with the large vendors like Nike. It gets tough for the small retailers to change their orders with every change in fashion taste as the ordering cost is high, but large vendors can easily afford it.
Dec 28, 2015 9:53 PM EST
Iran exports news halts 3-week run of price rise for oil
The trouble-hit Iran has reiterated that it'll take the exports to the pre-sanctions level after the sanctions are lifted. This has curbed the three-week streak of oil price rise. The oil price rose encouraging for the first time since April.
Dec 28, 2015 9:21 PM EST
Chipotle in Boston Reopen After Norovirus Outbreak
After a norovirus outbreak in its Beacon Street's restaurant in Boston earlier this month, Chipotle reopens the restaurant.
Dec 28, 2015 3:40 AM EST
Mexico's Pemex to slash down jobs in 2016
Mexico state-run oil major Petroleos Mexicanos (Pemex) may reduce jobs in 2016 as part of its restructuring plan. The company is keen on making partnerships along the production chain. Pemex may tap private capital for funding the business strengthening operations.
Dec 26, 2015 8:19 PM EST
JPMorgan alerts Japan Inc to brace up for ¥100/USD
The latest forecast form JPMorgan Chase & Co has alerted the Japanese industry to be ready for the rising Yen to ¥100/USD in 2016 from the current 121. However, it also said that the surge in currency value may not harm drastically. Contrary to this, another survey carried out by Nikkei Research for Reuters indicated yen would fall to 130 per dollar.
Dec 26, 2015 8:17 PM EST
Starbucks upbeat on record gift card sales on Christmas Eve
American coffee chain Starbucks is bullish on gift card sales this Christmas Eve. It sold 2.5 million gift cards last year. Starbucks has associated with Swarovski for selling $200 gift cards including $50 worth coffee that have been encrusted with crystals.
Dec 26, 2015 8:08 PM EST
The new Airbus A350 XWB jet is designed to beat jetlag
Airbus has created a new aircraft that is designed to eliminate jetlag. The plane, A350 XWB, arrived in the U.S. last week.
Dec 26, 2015 7:47 PM EST
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