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Cyber security provider Blue Coat Systems plans to go public next year

Network security firm Blue Coat Systems Inc is planning an initial public offering, which may happen on the second quarter of 2016.

Dec 10, 2015 3:15 AM EST

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Hyundai unveils the New Generation i20 WRC for the 2016 World Rally Championship

Hyundai is introducing its new rally car for the 2016 FIA WRC event at team's factory in Alzenau, Germany. The five-door body car is powered by a 1.6-litre turbo charged petrol engine with six-speed sequential gearbox.

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Chennai floods leave everyone in deep water

The recent floods devastated the living conditions for people in Chennai and its surrounding districts. The industrial and business hubs have been affected resulting in trillions of crores of rupees loss. Insurance companies have been flooded with claims indicating a decade high volume.

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Deutsche Bank Japan to pay penalty again for information leak

Deutsche Bank Japan branch is set to face a regulatory penalty once again; this time for leaking corporate information before an earnings release.

HSBC to repackage global loan into bonds to increase profits

HSBC is repackaging its loans sold in Asia, Africa and the Middle East into bonds to increase its investment banking profits as pre-crisis regulations has made it more expensive to earn in the loan business.

Dec 10, 2015 3:03 AM EST

Valeant weighs to sell contact lens maker Paragon amid FTC investigations

Valeant is considering to sell its Paragon as the FTC is investigating the drug maker's monopoly in the gas permeable contact lens market. Valeant has been hiking prices the Paragon's products after the company acquired the contact lens manufacturer earlier this year.

Dec 10, 2015 3:00 AM EST

Chinese researchers developed first mind-controlled car

Chinese researchers have created the country's first ever mind-controlled car in the north-eastern port city of Tianjin.

Dec 10, 2015 2:58 AM EST

Gas powered cars to be banned in eight US states and five countries by 2050

Eight U.S. states and five countries across the world announced the commitment to allow the automakers to sell only zero emissions vehicles by 2050. They will ban gas-powered vehicles to cut global vehicle emissions by 40 percent.

Dec 10, 2015 2:55 AM EST

ISIS generating $80 million revenues a month

ISIS is believed to have been generating $80 million revenues a month from oil production and smuggling in addition tother finding options. ISIS is also taxing people in areas it controls. The oil income accounts for over 40 percent of the total revenues for ISIS, which is generating income from six funding channels.

Dec 10, 2015 2:52 AM EST

US billionaire Douglas Tompkins dies in kayak accident in Chile

A wealthy U.S. businessman, Douglas Tompkins, 72, dies in a kayaking accident in southern Chile. He suffered through acute hypothermia by falling into near-freeze water and died shortly after taken to a hospital. He was a co-founder of the North Face outdoor company and an environment activist.

Dec 10, 2015 2:41 AM EST

Verizon considers buying Yahoo's internet business

Yahoo's CEO Marissa Mayer has been dealing with company's under pressured search and display ad businesses. It generates company's major percentage share of revenue. Verizon Communications Inc, U.S. number 1 wireless carrier company is considering to buy Yahoo's internet business.

Dec 10, 2015 2:15 AM EST

China's capital outflows tripling in November

China has been suffering from the increasing capital outflows, which tripled in November to $113biillion in November from $37 billion in October. The concerns about further depreciation in Yuan were the prime reasons behind the surge in capital outflows. The weaker Yuan will add competitiveness to exports, opine some economists.

Dec 10, 2015 1:57 AM EST

Jakarta greenlights Uber operations

Uber has received approval from Jakarta government to operate legally in the Indonesian capital, as long as it meets tax rules and other requirements from the government.

Dec 10, 2015 1:52 AM EST

Norovirus outbreak in Seattle sickens 200 people

About 200 people have become infected by norovirus after attended a catered event at a downtown Seattle's Russell Investments Center. The health officials have closed all food vendors in the Seattle office building.

Dec 10, 2015 1:48 AM EST

Airbnb confirms $1.5 billion fund raising round

The US-based home-sharing startup Airbnb has confirmed that it closed $1.5 billion fund-raising round in a filing to SEC. The latest round puts Airbnb's valuation at $25 billion. The home sharing services provider boosted its forecast for revenues to $900 million for 2015. Airbnb is planning to expand globally.

Dec 10, 2015 1:35 AM EST

South Africa's inflation up at 4.8% in November

South Africa's inflation rate was 4.8 percent in November from 4.7 percent in October. The inflation rate indicated its highest since July. The currency Rand continuous fall against the US dollar is further adding to inflation. South African economy narrowly missed the second recession in six years.

Dec 10, 2015 1:31 AM EST