Volkswagen CEO steps down; US may slap $18B penalty
The latest scandal of Volkswagen in rigging emission norms results is rocking the Germany business and political factors. Volkswagen has taken up crisis management measures and its CEO Martin resigned and many more to follow the suit. The US environment protection agency may slap a hefty fine of $18bn on Volkswagen if its role in manipulating emission results is proved.
Sep 24, 2015 3:18 AM EDT
Boeing factory will soon land in China
A new Boeing factory will be opened soon in Zhoushan, China for its 737 jetliners. The submitted proposal still needs approval of the State Council as well as the China's cabinet to have the country do the painting of airline company's top-grossing jetliners.
Starbucks expands Mobile Order & Pay Service in 7,500 cafes in U.S.
Starbucks expanded its Mobile Order & Pay service in its almost 7,500 chains in the United States. These cafes are located in notable cities such as San Francisco, New York, Washington D.C., Chicago, and Boston.
Swiss Re to buy Guardian Financial Services for $2.45B
Swiss Re's Admin Re is buying the UK-based Guardian Financial Services for $2.45billion. The acquisition deal is expected to be complete by early next year. Admin Re will get 900,000 annuity and over four million policies in the UK after the acquisition.
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Volkswagen scandal is gaining steam
Volkswagen Group is the biggest car manufacturer in Germany with three brand under its management including Audi, Porsche and Lamborghini. The latest scandal might be costly for the company but its effect will not be everlasting.
Sep 24, 2015 2:11 AM EDT
Apple’s API for ad blockers is a threat to Google and web publishers
Apple had made it easy for developers to create ad blockers. Reports say this is a threat to Google and web publishers.
Sep 24, 2015 2:03 AM EDT
China's manufacturing PMI at 78-month low
The preliminary Caixin China manufacturing purchasing managers' index (PMI) dropped to 47 for September indicating further alarming situation in the factory output. The PMI was 47.3 in August. Any level below 50 indicates deceleration in the economy activity.
Sep 23, 2015 10:26 PM EDT
Indian rupee slips in 3 sessions
The rising demand for US dollars and renewed concerns about Chinese economy have impacted Indian currency Rupee in the forex market. The Rupee continued to skid against the US dollar for the three sessions in a row.
Sep 23, 2015 10:24 PM EDT
China joins US in fight against cyber crime
President Xi Jinping said in his closing speech in Seattle that China is ready to set up a joint force to combat cyber crimes. He gave this assurance to tech company executives attending a closed-door meeting.
Sep 23, 2015 10:21 PM EDT
Rising home values boost American household wealth
American equity recovered from the slump of the 2009 recession. Adding to the sale of homes, couples working extend the family's purchasing power.
Sep 23, 2015 9:12 AM EDT
EU's proposal on refugee quota evokes mixed reaction
Airming to resolve the refugee crisis for European nations, EU has prepared a proposal with quota sharing on 120,000 immigrants among 28 members. Germany and other major nations supported the proposal, while some countries voted against it. However, EU has stated that it'll go ahead with the proposal.
Sep 23, 2015 9:03 AM EDT
Mark's younger sister, Arielle Zuckerberg will join Kleiner Perkins as an associate partner
Kleiner Perkins Caufield & Byer recruits Arielle Zuckerberg as an associate partner. Mark Zuckerberg's younger sister will start on October 19.
Sep 23, 2015 8:36 AM EDT
China's president starts his first official US visit
Xi Jinping and his wife are visiting the US for a week as the country is trying to strengthen its relationship with the US. During this visit, Xi Jinping will also meet Obama as the two leaders will discuss military policy.
Sep 23, 2015 8:25 AM EDT
Brazil to host its own Internet high-speed exchange point away from the U.S. - Telebras
Brazil will install its own submarine cable starting 2017. It would boost the country's Internet speed and would avoid the U.S. secret surveillance.
Sep 23, 2015 4:33 AM EDT
EU court orders airlines to compensate passengers for flights cancelled or delayed
Ryanair along with the other airlines with flights in UK will be held accountable for passenger delayed flights and cancellations due to technical reasons. Each passenger will be compensated depending on the distance of their flight.
Sep 23, 2015 4:32 AM EDT
Volkswagen credit spreads rose despite pollution controls evasion
Volkswagen is proven of deceiving EPA in regards with its car emission levels forcing the agency to officially charge the German automaker what is due them. VW's credit spreads widened the fact it faces a maximum fine of $18 billion.
Sep 23, 2015 2:33 AM EDT
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