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 7:04 PM 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.
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.
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.
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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 2:14 AM EST
EHang Introduced Passenger Drone at CES 2016
Another exciting product has emerged in Consumer Electronic Show 2016. EHang, the Chinese UAV manufacturer introduces drone that is able to carry human passenger.
Jan 07, 2016 1:33 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
Weakened Yuan Triggers Drop in Futures and Stocks in U.S., Europe and Asia
Yuan that keeps weakening have dropped Asian stocks dropped and plunge of futures in Europe and U.S.. On Wednesday trading Yuan hit five year low against US dollar.
Jan 06, 2016 8:07 PM EST
Wanda Group will invest $2.3 billion to build three hospitals in China
China's Wanda Group had signed an agreement with the UK based International Hospital Group to build three hospitals in China. The agreement marks Wanda Group first entry into the booming health care business in China.
Jan 06, 2016 8:04 PM EST
Thousands of Stranded Migrants from Cuba Allowed to Enter U.S.
Thousands of Cuban migrants stranded in Costa Rica is permitted to enter U.S. An agreement between SICA and Mexico has opened access to migrants to continue their journey.
Jan 06, 2016 7:25 AM EST
Marijuana Legalization Made Mexican Small Pot Farmer Lose Profit
Loosening marijuana law in United States made small farmers in Mexico lose their profit, as more states lifted restriction on marijuana. However, Mexican drug cartel may not be affected much with the legalization.
Jan 06, 2016 7:23 AM EST
Electric Microbus: Diesel gate Riddled Volkswagen’s Image Recovery Stunt
Diesel gate controversy embattling Volkswagen has initiated implementing eco-friendly projects ahead of loosing share value. Volkswagen has revealed its bold step to go for producing an eco-friendly microbus, powered by electricity, in the Consumer Electronics Show. Batteries of the vehicle may be charged fully by only 20 minutes and capable of serving as a home power unit.
Jan 06, 2016 3:44 AM EST
Burger King’s 5 for $4 deal to beat competition
The 2016 began on a competitive note for fast food chains. Burger King, McDonald's and Pizza Hut have rolled out new value menus. Burger King has launched 5 for $4 deal to attract more number of consumers. McDonald's unveiled McPick 2 for $2, while Pizza Hut has also rolled out $5 Flavor Menu.
Jan 06, 2016 3:13 AM EST
Yahoo logs off video service Yahoo Screen
Yahoo has closed down its video content service Yahoo Screen. The US traffic to Yahoo Screen fell 28 percent during the past two years. As the ad revenues didn't take off, Yahoo has written down $42 million on Yahoo Screen.
Jan 06, 2016 3:07 AM EST
Fiat shares slid after Ferrari parts ways with it
After the separation, Fiat Chrysler is focusing on its €48-billion investment plan to 2018. It'll also revamp its brands Alfa Romeo, Jeep and Maserati. Ferrari made its debut trading in Milan after listing on Wall Street in October 2015. Analysts opine the road ahead for Ferrari may not be smooth as the capital intensive car maker with small volume can sustain the high valuations.
Jan 06, 2016 1:28 AM EST
Hoverboard Sets House Afire in Australia
Another incident of hoverboard that caught fire occurred. This time a hoverboard erupted in flames while charging in a house in Australia.
Jan 06, 2016 12:12 AM EST
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