Sanofi's Genzyme pays $32.59M penalty for misbranding, unlawful usage of Seprafilm surgical implants
Genzyme Corporation agrees to settle on deferred prosecution agreement with the government to pay a penalty of $32.59M regarding the illegal use of Seprafilm with laparoscopic surgery.
Sep 05, 2015 6:17 AM EDT
Interest rate hike could harm global economy - IMF
The International Monetary Fund warns of the danger of an interest rate hike to the global economy. Instead of raising rates, the fund says advanced countries should focus on growth-friendly programs.
Over diversification could dent returns on your funds
Investing in too many funds will not five desired results if correlation among them is high. Making a balancing act in portfolio of stocks, bonds, currencies, treasuries needs expert advise. Analysts advise investors to do some home work before taking investment decision.
US job gain projections turn spotlight on rate hike
The positive projections for job growth in August are giving much scope for speculation on possible rate hike by US Federal Reserve. The next meeting of Fe is scheduled on 16-17 September. The drop in unemployment rate is also aiding the speculation on rate hike.
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Reebok rebrands as a fitness center in the U.S. and Europe
Reebok, the shoe brand is turning into fitness centers. Its "Be More Human" campaign challenges people to test their physical strength in group sessions. Earlier on, it had launched in the U.S. This week, the campaign will roll out in Germany.
Sep 03, 2015 11:26 PM EDT
Seven tech companies formed an alliance to develop a new standard for open source video format
Netflix, Mozilla, Cisco, Intel, Amazon, Google and Microsoft made an alliance to come up with a new standard for open source, royalty free video format. Reports say this will end video plugins in the Web.
Sep 03, 2015 11:20 PM EDT
Wild swings in China stocks this week
China and Asian market drop again today on U.S drop last night and weak manufacturing data released by Chiese government.
Sep 03, 2015 11:14 PM EDT
Japan inflation falls to zero for third time
Shinzo's Abe government had failed again for the third year in an effort to increase inflation to help takes Japan out of the recession problem.
Sep 03, 2015 11:06 PM EDT
Spain’s reform efforts praised, but many Spanish disagree
Spain might be receiving lots of praises that the country's economy is doing great but to many Spanish that us disagreeable.
Sep 03, 2015 9:24 AM EDT
China shares recover early losses, other Asian markets up
Chinese shares regained early losses Wednesday amid reports Beijing had been buying shares to support the market. Other markets in Asia were up despite disappointing economic data.
Sep 03, 2015 12:26 AM EDT
Russia cracks down on foreign internet firms
In a latest move, Russian government came out with a new law that empowers Russia to block foreign internet companies and force them to share data on Russian citizens onto Russian terriroty. Recently, it partially blocked Wikipedia and few other sites.
Sep 03, 2015 12:17 AM EDT
Led by US, foreign investors hold 54% of UK stock market
The US investors hold majority share of 46% in the toal foreing ownership of 54% in the UK stock market in 2014, according to a latest data from Office for National Statistics (ONS). Pension funds' share in foreign ownership drastically fell to 3 percent.
Sep 03, 2015 12:09 AM EDT
US construction spending at 7-year high
The latest data from the US Commerce Department reveals that construction spending grew 0.7 percent to $1.08 trillion showing seven-year high. the construction spending has been growing for the past eight months continuously.
Sep 02, 2015 11:54 PM EDT
Canada slides into recession as oil prices dip
Canada is now officially in a recession after registering two consecutive quarters of negative growth. The oil exporting economy was particularly hit hard by slumping oil prices, which are now half their level last year.
Sep 02, 2015 3:17 AM EDT
Irish Gambler John McManus seeks $5.22 Million tax refund from IRS citing international treaty
One of Ireland’s richest, horserace owner and businessman John P. McManus is asking for $5.2 million from the U.S. government, which was wrongfully withheld from his $17.4 million gambling winnings to cover taxes.
Sep 02, 2015 3:09 AM EDT
Honda opens first compressed natural gas fueling station in Ohio despite CNG civic being discontinued
Honda recently opened its first CNG refuelling station at its campus in Marysville, Ohio. Honda Motor Co. was one of North America's leading proponents of natural gas in vehicles for more than 16 years.
Sep 02, 2015 2:48 AM EDT
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