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IRS Fines 8 Million Americans, 0.3 Million of Them From Low Income Group

IRS has fined some 8 million people and 1.4 million households are forecast to fall prey of fines due to ignorance on new healthcare law. Commonly criticized as the Obama Care Law, the new law instructs all Americans to go through insurance net. But mainly due to ignorance about mandatory submission of tax returns and moreover legally remain exempted from tax net, have fall victim to count fine for $210 each.

Jan 10, 2016 09:50 PM EST


HSBC and JPMorgan Well Ahead In ARAMCO IPO Race

State owned Saudi Arabian Oil Co. (ARAMCO) is possibly going for an IPO aiming to raise funds for $1 trillion to $10 trillion. Some shares of the IPO may be awarded among the local banks and investors following ARAMCO’s action plan. However, experience in banking operations in the kingdom is believed to play the key role for selection which put HSBC and JPMorgan well ahead in the IPO grabbing race.

Jan 10, 2016 09:45 PM EST


North Korean Nuke Testing and Oil Price Fall Plunges Dow Jones in First Week of 2016

Rising global concerns in first week 2016 including North Korean nuke testing, fall in oil prices, sluggishness of Chinese economy, middle east tension, reservation by Federal Reserve to raise interest rates plunged Dow Jones. Markets in Europe and Asia fell as well.

Jan 12, 2016 07:00 AM EST


Stocks tumble on China instability amid further devaluation of Yuan

The instability in Chinese economy, after the dragon country devalued Yuan for eighth time, has created tremors across the global bourses. All the sectors fell in the range of 0.4 percent to 1.8 percent on the Wall Street. Safe haven yellow metal gained four percent in 2016. Chinese CSI 300 index fell 7%.

Jan 07, 2016 07:04 PM EST


5 US airlines hike base fares

The US-based five airlines - Delta, Southwest, American, United and Virgin America have raised base fare on domestic travel. The hike is effective for corporate, leisure and discounted fares. Airlines are bullish on margins as business travel is expected to be stable even leisure travel takes a dip. The five airlines control 80 percent of the US domestic travel. Airlines are set to post surge in operational profits owing to lower fuel costs.

Jan 08, 2016 04:56 AM EST


Watch out for gold, oil, airlines in 2016

The year 2016 is expected to be positive for gold, oil and airlines segments. The sluggish real growth will propel gold prices. After declining for 18 months, oil price technically may make a rebound. Lower fuel costs and rising passenger traffic propel airlines to make more profits this year.

Jan 07, 2016 04:58 AM EST


PMorgan replaces KCG with Virtu Fin as market maker

JPMorgan Chase & Co has replaced KCG Holdings Inc with Virtu Financial Inc as its market maker. Virtu from Wednesday onwards takes care of JPMorgan Chase's stock on New York Stock Exchange (NYSE). JPMorgan was disappointed with the role of KCG Holdings on 24 August 2015 as the stock markets witnessed mayhem pulling several stocks lower.

Jan 07, 2016 04:10 AM EST


Ford upbeat on self-driving cars, to invest $4.5 billion

Ford Motor is investing about $4.5 billion in developing electric vehicles. Contrary to unconfirmed news that Ford and Google working together on developing driverless cars, Ford Motor President Mark Fields didn't mention about this association in his speech at CES-2016. Fields is very keen on exploring the $5.4 trillion transportation services segment.

Jan 07, 2016 05:03 AM EST


Intel Introduces Augmented Reality (AR) World Through X- Ray Visioning Daqri Smart Helmet

Intel’s 3D RealSense Camera empowers Daqri Helmet to represent an augmented reality world at the stage of Consumer Electronics Show, 2016. Through unveiling the smart helmet, Intel is believed to surpass Microsoft in the race towards augmented reality world. The X- ray visioning smart camera is scheduled to become available for purchase from the first quarter of this year.

Jan 07, 2016 12:56 AM EST


Disney kicks off 2016 with $3-billion bond issue

Walt Disney, Ford Motor and Deere & Co are leading the corporate bond sales, which began on positive note in 2016. The US companies sold $1.621 trillion in debt in 2015 as the majority of American corporate firms preferred to take zero rate advantage before Federal Reserve announcing the rate hike. Yields on investment-grade bonds rose to four-year high of 3.71 percent in December 2015.

Jan 07, 2016 02:14 AM EST


Oakley Glasses: Intel’s Radar Pace Empowered Athletic Smart Glasses

Intel’s Radar Pace Technology has been successfully incorporated in Oakley branded smart glasses, are capable of analyzing athletic performances and coaching thereto. The glasses have been represented before the audience of Consumer Electronics Show, 2016. Unlike Google Glass, the Radar Pace technology instructs the wearer doing everything just by talking.

Jan 06, 2016 07:52 AM EST


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