Tesla CEO Musk suggests California to push Volkswagen to electric cars
The automobile industry leaders and experts have written a letter to California regulator asking it to confine Volkswagen to making of electric vehicles only as a punishment for cheating the customers and violating the US emissions laws. Tesla CEO Elon Musk and others signed the letter. They opine that fixing the software involves lots of money and could also lead to technical problems further.
Dec 21, 2015 5:49 AM EST
Aussie billionaire James Packer quits board amid drop in gambling revenues in Macau
James Packer, an Australian billionaire, has left the board of Crown Resorts Ltd as Chairman. Crown Resorts is suffering from a drop in gambling revenues in Macau. Packer will continue as co-Chairman of Crown Resorts. Packer has decided to focus on development projects in the US and Australia.
US gasoline slips below $2; at 6-year low
The US gasoline average retail price slips below $2 per gallon as oversupply position in the global energy sector continued. The gasoline price at $1.999 per gallon is indicating its lowest in over six years. The US economy is witnessing a rare combination of falling price and rising demand. The recent decision by Opec not to reduce production level is keeping more pressure on global oil price.
Mars Recalled Dove Chocolate Over Allergy Concern
Mars issued allergy alert for its Dove Chocolate Assortment Snowflake on December 18, due to undeclared peanuts, wheat and egg ingredient.
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Packer is in discussion to take Crown's assets private
James Packer’s Consolidated Press Holdings is in speculation that it was going to team up with private equity and take parts of Crown Resorts private. The circulated news cause its share price to soar higher and was query by the Australian Stock Exchange.
Dec 21, 2015 1:25 AM EST
London house prices to double by 2025, rents to go 27% higher
The average home price in London is set to double by 2025, while it's 50% surge in the UK, according to a latest study. The rise in housing prices is impacting consumer spending. The number of property millionaires is rising encouragingly since January. However, the new tax regime has slowed down the rate of growth in Scotland.
Dec 20, 2015 10:08 PM EST
Is the Fed hike the silver bullet that can bring economic prosperity back?
The US Federal Reserve has increased the interest rate by quarter percentage. Will it bring back the economy to normal, asked the economists. Purely linking interest rate hike, inflation and oil price drop doesn't serve the purpose., caution economists. There's also associated risks for emerging markets as well, caution economists.
Dec 20, 2015 9:31 PM EST
Fiat Chrysler buys emission credits from rival auto majors
Fiat Chrysler Automobiles NV has purchased 5.5 million emission credits from Toyota and Honda. Another one million credits from Tesla. Fiat Chrysler ended 2014 with a credit balance and without this purchase also, it would have been emission compliant, according to a report from the Environmental Protection Agency. Fiat Chrysler ranks last in fuel efficiency when compared with rival auto majors.
Dec 20, 2015 9:23 PM EST
Brazil's unemployment rate down 7.5% November, surprising analysts
Brazil's unemployment rate went down 7.5 percent in November, whichis lower than the 8 percent that 37 analysts from Bloomberg expected.
Dec 19, 2015 1:56 AM EST
Cerberus closing in acquisition deal on Avon's North American business
Cerberus Capital Management LP is closing in on a $170 million deal to buy Avon Products Inc.’s ailing North America business.
Dec 19, 2015 1:09 AM EST
4 ways to secure your home when away on holidays
Christmas holiday is the time of bringing together family and friends to celebrate love and peace. However, thieves and burglars take advantage of a vacant home at this time of the year to steal precious possessions. Few wise tips can help you secure your home while away on vacations.
Dec 19, 2015 1:03 AM EST
AstraZeneca to buy 55 percent of Acerta for $4 billion, gain access to new blood cancer treatment
AstraZeneca Plc agreed on a deal to buy 55 percent of Acerta Pharma for $4 billion to gain access to a potentially hit treatment for blood cancer called Acalabrutinib.
Dec 19, 2015 12:42 AM EST
Former Intel President Joins Oracle as Independent Director
Renee James, former president of Intel Corp. joins Oracle Board as one of the Directors. Renee James, who was one of the top executive in Intel Corp. joined Oracle as one of the members of the company's board of directors.
Dec 18, 2015 10:16 PM EST
Black Lives Matter & Mall of America in Loggerheads: One Fights For Causes, Another Secures Property
Black Lives Matter, a rights organization, appears in loggerheads with the Mall of America, while announcing a rally on next Wednesday at the latter’s premises unlike previous year, protesting the gruesome killing of Jamar Clerk, a black youth of 24 years, allegedly due to the shooting of two Minneapolis police officer. Since the mall is private property, so authority of the mall, empowered with related court order, vows to protect its guests even through dispersing the protesters.
Dec 18, 2015 5:50 AM EST
Amazon Shuns Selling Hoverboards: Fire Risk Demands for Stringent Implementation of Consumer Act
Amazon, the online sales store has decided to shun selling of self balancing scooters or hoverboards after Trading Standard, Product Safety watchdog confiscated some 15,000 hoverboards, those have been brought to UK for selling. Non compliant UK plugs, faulty chargers and cables have caused fire incidences in UK, USA and Hong Kong. Moreover, faulty design containing lithium ion- powered battery emits radiation that may cause fire and so aircraft have also slapped ban on carrying any sort of self driving scooters.
Dec 18, 2015 5:41 AM EST
Oracle Profit Forecasts For Q 3, 4: Sluggish Growth Blamed While Currency Woes Predominates
The California based software giant’s profit forecast for the third and fourth quarter has failed touch the Wall Street investors and its price has been observed to fall by 1% in extended trading. Rising concerns over stronger Dollar has been considered as the attributed factor in forecasting while many blames for sluggish growth of its cloud business ignoring its growth figure of 31% during the last quarter.
Dec 18, 2015 5:36 AM EST
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