GM announces Mary Barra as new chairwoman
General Motors announced that it had unanimously elected Mary Barra as its next chairman, effective immediately. Barra succeeds Theodore Solso who will be retiring but will continue serving as the Board’s Lead Independent Director.
Jan 05, 2016 7:29 PM EST
2016 may generate 3.5mn jobs in India
The year 2016 may witness encouraging employment generation, but moderate salary rise. The inflation rise will erode the salary rise benefits. India and the UAE may record robust job growth rate. IT, app economy, retail and BFSI sectors to lead emplyment generation of about 3.5 million in India. Dubai Expo-2020 may play a key role in jobs growth rate in the UAE.
Oklahoma regulator orders for lower wastewater disposal after earthquakes
Oklahoma's oil and energy regulator has ordered injection well operators to reduce wastewater disposal. The state suffered about a dozen earthquakes in less than a week. The regulator has started implementing an action plan for injection wells located in the area that was hit by earthquake.
Saudi Suspends All Flights and Trade With Iran
Saudi Arabia suspends all flights to and from Iran. The country also ban its citizen to travel to Iran in a new chapter of Middle East sectarian.
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Japan's central bank playing activist investor role to revive economy
With an objective of reviving the economy, Bank of Japan (BoJ), Japan's central bank, is playing a role of activist investor in the domestic equity markets. The central bank's governor and Prime Minister are also asking corporate companies to increase capital expenditure and wage rise. Bank of Japan holds $54 billion in exchange-trade funds (ETFs). Japan's economy is suffering from weaker consumption and deflation.
Jan 05, 2016 3:21 AM EST
‘Latte Macchiato’: ‘Starbucks’ Hits New Caffeine Beverage
Latte Macchiato, combination of espresso and milk, is going to be served by Starbucks, the Seattle based Café Chain. The popular Australian drink is being introduced to the Americans by Angus Maxwell, certified barista serving the coffee chain. The new beverage joins the Starbucks menu and is believed to be a stepping stone between a cappuccino or flat white and an Americano among those desiring to change the taste bud.
Jan 04, 2016 10:55 PM EST
Tesla Car Caught Fire in Norway While Charged
Tesla Motors started 2016 with an incident. In Norway, its Model S was caught fire while being charged last Friday.
Jan 04, 2016 10:25 PM EST
Philippine Follows Vietnam in Protesting China’s Proclamation Over Spratly Islands
After Vietnam, Philippines, a close US ally, has described China’s efforts as acts against its sovereignty. All the three neighboring countries contend for the ownership of the probably oil/ gas enriched Spratly Islands. Not only the hidden mineral resources but also the geographic location of the islands, has led the neighboring countries to dominate one of the busiest naval routes.
Jan 04, 2016 10:23 PM EST
Oil Price is Slightly Rising Amidst Tension Between Saudi and Iran
Oil price is rising amidst tension between Saudi Arabia and Iran. The oil price started the first day of trading in 2016 at the price of $38 a barrel before reduced to $37 in the afternoon trading.
Jan 04, 2016 10:21 PM EST
5 key economic trends to watch in 2016
Economists and analysts foresee the five key factors that would influence the global economy significantly in 2016. The major aspects such as industrial production, consumer spending, international trade, currency trends and inflation will influence the global economy. The lower energy costs will propel consumer spending upwards, while resulting in inflation rise.
Jan 04, 2016 10:21 PM EST
Sydney home prices drop for the second month
Sydney home prices fell for the second-consecutive month. The market also recorded its worst quarter in four years as a regulatory crackdown pushed up mortgage rates causing weak demand in the housing sector.
Jan 04, 2016 6:09 AM EST
2016 Will Be Grim for Asian Ship Builders Due to Low Oil Price
Asian ship building industries will face a bleak year in 2016 due to low oil price. As a result, shipyards receive less orders for offshore rigs project. Korean, Singaporean, Chinese and Japanese as the main shipyard owners in Asia are preparing necessary measures to manage the crisis.
Jan 04, 2016 5:32 AM EST
Yen Goes Strong As Saudi and Iran Heated Tension Started The Year 2016
Yen started 2016 with a two-month high in trading, while Saudi and Iran cuts diplomatic ties. The year 2016 started with a stronger yen, traded at two-month high versus dollar and escalating tension between Saudi and Iran.
Jan 04, 2016 4:44 AM EST
Researchers in Taiwan Fly a Drone Using Body Movement
Researcher in Taiwan invented a way to fly a drone using body movement. It utilized the motion sensor in AppleWatch to control and pilot a drone.
Jan 04, 2016 4:39 AM EST
Loretta Mester Backed U.S. Rate Hike as A Prudent Step
Loretta Mester, president of Federal Reserve Bank of Cleveland prefer a more aggressive approach to rate hike. Federal Reserve Bank increased interest rate for the first time in nine years last December.
Jan 04, 2016 4:26 AM EST
New Copy Right Levy Increases Prices of Apple Products in Germany
Apple Inc. has increased the prices of products in Germany, effecting from January 1, following a successful deal with German Trade Association, Bitkom and ZPÜ collecting societies in December 2015. The adopted policy is similar to those adopted by other European countries, but along with the creative intellectuals, the levy will be available for sharing with the porn film makers too.
Jan 04, 2016 4:13 AM EST
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