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.
Dec 13, 2015 10:11 PM EST
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.
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.
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Wall Street up, crude oil down
U.S. Stocks closed higher after three straight days of declining, as oil declined further to almost seven-year lows.
Dec 11, 2015 8:33 PM EST
LG Electronics CEO was Vindicated from Vandalism on Samsung Washing Machine
LG Executive accused of vandalizing Samsung washing machine during 2014 Berlin electronics trade fair but was found not guilty.
Dec 11, 2015 10:35 AM EST
Uber Launched Desktop App on Windows 10
Uber created a desktop app to enable users hail a ride from their desktop. Unfortunately, the app is unable to work on its own.
Dec 11, 2015 10:26 AM EST
Oil slump major risk for Malaysia debt
The debt-ridden 1Malaysia Development Bhd (1MDB) is in the process of selling assets to reduce its debt. Though it has already identified buyers for its asset sale, investors say the oil price slump is the major concern over the nation's financial situation. Oil revenues account for 22 percent of total Malaysian government revenues. The government is planning to impose higher taxes to compensate oil price drop.
Dec 11, 2015 10:18 AM EST
Morgan Stanley in $225 million deal with U.S. regulator
National Credit Union Administration (NCUA) filed lawsuits against banking lenders includng Morgan Stanley for allegedly selling faulty mortgage-backed securities. Morgan Stanley without admiting its fault, has agreed to pay $225 million to seele the claims. The total value of such claims recovered by NCUA reached to $2.43 billion since 2011.
Dec 11, 2015 10:09 AM EST
Wal-Mart Marketing head Stephen Quinn to retire, says WSJ
The longtime Marketing Chief Officer of Wal-Mart Store’s Inc., Stephen Quinn, plans to step down by the end of January.
Dec 11, 2015 9:58 AM EST
US imposes new sanction to North Korea: Strategic Rocket Force added to the list
Last Tuesday, the U.S. imposed new financial sanctions targeting North Korea's Strategic Rocket Force.
Dec 11, 2015 9:53 AM EST
Tesla says Australian utility Origin to market solar battery
Tesla Motors Inc. listed Australia's largest power and gas retailer, Origin Energy, as one of the distributors for its solar battery storage product, Powerwall, which the company is launching globally in two other countries. The Powerwall is initially targeted at early adopters, both by Tesla and by Origin. The product will be available for installation starting February 2016.
Dec 11, 2015 7:16 AM EST
Chipotle Mexican Grill in Seattle Closed for the Violation of Food Safety
The Chipotle restaurant was closed by the Seattle-King and County, public health officials due to the violation of the food safety policies. People are suffering from various illness after eating in this restaurant chain.
Dec 11, 2015 4:19 AM EST
Asian stocks ending week on weaker note as commodities remain sluggish
Asian stocks set for weaker weekly closing on sluggish commodities prices. The continuous oil price drop and further weaker Yuan currency also weakened the investor confidence. The market players were in wait and watch mode ahead of US Fed meeting next week.
Dec 11, 2015 4:13 AM EST
'Spencer' The Robot Is Here to Save the Day
Spencer now helps traveler to find their way from 30th November at Schiphol Amsterdam Airport. Spencer is the robot that guides travelers to get their way at Schiphol Amsterdam Airport in case they missed the flight.
Dec 11, 2015 4:11 AM EST
Buffet buys 8% in Sears' REIT Seritage Growth
Warren Buffett has acquired 8% stake in Seritage Growth Properties, amounting to $70.5 million. Berkshire Hathaway is also buying a real estate firm, Allie Beth Allman & Associates. The latest acquisitions by Buffett will add financial strength to Sears Holdings.
Dec 11, 2015 4:10 AM EST
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