Coca-Cola disposes off nine U.S. bottling plants as new supply system arises
Coca-Cola Co. is planing to sell its nine US-based production facilities as part of the plan that could cut the costs and modernized operations.
Sep 28, 2015 4:33 AM EDT
Pope urges US to act on climate change now
Pope Francis urges the United States to join a global campaign against climate change, making clear his position that global warming is moral issue that needs immediate action. The pope made the call during a welcoming ceremony at the White House, his first public engagement of his 6-day trip to the world's richest nation.
Toshiba to offload stakes in white goods biz to Skyworth
After feeling the heat of $1.3billion accounting scandal, Toshiba has undertaken restructuring plan to overhaul its operations including overseas network. Toshiba is selling five percent stake each in two whitegoods units to Chinese firm Skyworth Digital Holdings. Toshiba has convened an EGM on 30 September to discusson on future plan.
Split in hedge funds group over Puerto Rico's restructuring plan
The group of hedge funds seems to be slitiing off over the restructuring plan for the ailing Puerto Rico economy. Recently the Islan's governor Alejandro Garcia Padilla said that debts were unsustainable. Since then difference of opinion has started widening further among the members. On the other hand, there's increasing voice against the participation of Antonio Weiss in the restructuring talks as it leads to conflict of interest.
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US home sales rise in August, Q3 forecasts in tact
New home sales were up in August, while business investment eased in August. The latest data for August indicates that US economy is not disturbed much with ongoing slugishness in the global economy. It's estimated that earlier forecast on US GDP growth rate of 1.4 percent is possible for the third quarter.
Sep 27, 2015 8:53 PM EDT
Second Interest Rate cut for Norway
Norway's Central Bank, the Norges Bank announced that it is cutting the country's interest rate to o.75 percent today. This is the second rate cut for this year and the third in 10 months. The rate cut signals a weakening economy in the country's key sector.
Sep 27, 2015 8:39 PM EDT
Final meeting for Trans-Pacific Partnership (TPP) will be held next week
Washington is planning to wrap up the TPP agreement in a meeting in Atlanta next week. Few issues will be resolved during the meeting such as for automotive industry, dairy products, and biological drugs.
Sep 25, 2015 8:05 AM EDT
Alexis Tsipras retains economic government to battle crisis
Greek Prime Minister Alexis Tsipras appoints the same people for his new economic team that would handle the biggest modern world crisis.
Sep 24, 2015 9:08 PM EDT
Instagram reached 400 million users with 80 million photos shared every day
Instagram had reached 400 million users with 80 million shared photos a day. The Facebook-owned company announced it on Tuesday.
Sep 24, 2015 8:21 AM EDT
5.6 Million U.S Federal Officers' Fingerprints were Stolen
OPM changes its statement saying that some 5.6 million fingerprints were stolen by hackers when they attack the agency last spring instead of 1.1 million. The stolen data involved U.S government officials including from Defense Department.
Sep 24, 2015 8:12 AM EDT
Winterkorn resigns as Volkswagen CEO
Martin Winterkorn's contract as VW CEO extends until 2018 as agreed upon by the VW's supervisory board despite the controversial emissions scandal. This Friday was the scheduled formal approval.
Sep 24, 2015 7:41 AM EDT
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.
Sep 24, 2015 2:38 AM EDT
Leonardo DiCaprio fights global warming by divesting from fossil fuel industries
Leonardo DiCaprio along with 2,000 other individuals and 400 institutions pledged to divest their fossil fuel holdings in a move to reduce climate change.
Sep 24, 2015 2:20 AM EDT
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.
Sep 24, 2015 2:16 AM EDT
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
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