US consumers spending below forecast as savings soar
The US consumer spending rose only by 0.1%, below the 0.3% forecast while savings rate rose to the highest in the past three years. According to the US Commerce Department's data for October, Americans are savings faster than spending.
Nov 27, 2015 12:04 AM EST
Nickel makers explore ways to weather lower prices
Suffering from 12-year low price levels, nickel makers are planning to slash production and supply levels to boost the prices. The slowdown in China's economy is impacting the most nickel consumption and its price. Nickel manufacturers are considering several options on how to propel the price and sustain the current adverse conditions.
Brazilian bourse's app to track illegal timber trade
With an objective to check illegal timber trade, Brazilian bourse BVRio has launched a new app that helps foreign buyers scan legal code for every timber lot. Over half of the Brazil's timber trade is illegal, according to a report. The illegal logging is fast adding to deforestation, which has created more concerns among residents of Amazon region. Local residents formed into militant groups to protect forest cover and assets by taking action against illegal loggers.
Herbalife Comes Out Clean Against the “Pyramid Scheme” Lawsuit By Oklahoma Funds
The CEO of Herbalife wins the lawsuit filed against him by the Oklahoma Funds. This lawsuit is not related to the Ackman case filed.
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E.Coli Infection In Seven States Linked to Costco Chicken
Costco chicken salad is said to cause e-coli poisoning in seven states according to Center of Disease Control and Prevention.
Nov 26, 2015 4:46 AM EST
Lufthansa cabin crew union calls off strike
The main cabin crew union (UFO) at Lufthansa airline has called off a labor strike which lasted until 13 November, registered as the longest strike in the history of the German airline. The management has agreed to extend basic retirement and pension benefits to staff. The next meeting is scheduled on 2 December. In addition to UFO, two other unions will also take part in discussions with the management.
Nov 26, 2015 4:01 AM EST
Blue Origin's rocket returns safely after space flight; Jeff Bezos sees suborbital flights by 2017
Jeff Bezos' Blue Origin has successfully completed space flight as its rocket safely landed back in West Texas. Blue Origin has achieved a rare distinction of testing a reusable rocket, which will significantly reduce space flight costs.
Nov 26, 2015 3:24 AM EST
Sluggish PC, printer sales push HP profit forecast lower
The sluggish sales in PCs and printers is impacting Hewlett-Packard Co's financial performance. The company on 1 November 2015 split into two entities-- HP Inc and Hewlett Packard Enterprise Co (HPE). HP Inc lowered profit forecast for the first quarter as it recorded profits below the market expectations during the third quarter.
Nov 26, 2015 3:00 AM EST
The Polaris Slingshot Is A Thrilling Three-wheeled Roller-Coaster Track Ride
The European and Canadian companies were having fun until American companies decided to join the three-wheeler ring by unveiling Polaris Slingshot three-wheeler, a thriller roller-coaster track ride. Now, with Slingshot, being stable yet adventurous is possible at a time.
Nov 26, 2015 2:28 AM EST
U.S Government Is Putting Huge Effort To Pace Up With The Surging Demand Of Weapons
The demand of weapons and firearms are growing rapidly around the globe. U.S government is trying their best to keep up with the rising demand of arms sales.
Nov 26, 2015 2:20 AM EST
Google, Facebook among Silicon Valley majors to lead India's broader free internet
India is poised to receive broader free internet shortly as several US technology majors are working on their projects to bring over a billion people online. India's Prime Minister Narendra Modi had met top officials from US technology firms and sought their cooperation in making India online.
Nov 26, 2015 12:39 AM EST
Stockpiles help US growth beat forecast in Q3
The US economy grew 2.1 percent during the third quarter as against the forecast of 1.15 percent. However, the growth rate slowed down when compared to 3.9 percent in the second quarter.
Nov 25, 2015 4:06 AM EST
Carl Icahn picks 7.13% in Xerox, says it's undervalued
Billionaire investor Carl Icahn picked 7.13 percent stake in Xerox Corp paving his way to the company's board. Icahn gave a statement that Xerox shares are undervalued as the stock fell over 20 percent this year so far.
Nov 25, 2015 3:50 AM EST
Despite easing foreign trade, Russian markets turn attractive
Ever since the imposition of economic sanctions, the Russian economy is suffering from weakening foreign trade. Exports and imports, move steeply, only to drop during January-September period. Despite the rise in oil and natural gas exports, the oil price drop in dollar value is eroding the gains.
Nov 25, 2015 3:47 AM EST
Britain Expand Its Military Spending In Defense Against Islamic State
George Osborne, Britain's finance minister announced on Sunday that UK will increase military budget. Britain intend to purchase several defense equipment including maritime patrol aircraft from Boeing and Lockheed Martin's F-35 fighter jet.
Nov 25, 2015 2:52 AM EST
Scientists genetically modified mosquitoes to be malaria-resistant
Scientists at the University of California created mutant mosquitoes that are resistant to malaria, impairing their ability to transmit the disease to humans. The breakthrough, using gene-editing technology, may help eliminate the disease.
Nov 25, 2015 2:46 AM EST
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