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Basel-III norms help Morgan Stanley, Goldman regain hedge fund trading business

The US banks including Goldman Sachs and Morgan Stanley are recapturing their lost trding business from hedge fund customers. Thanks to the rules of Basel-III, which sets high capital requirements for trading activity in stocks, bonds, derivatives, etc. European banks like Deutsche Bank are falling short of capital requirements and losing trading business to the US banks.

Oct 07, 2015 2:31 AM EDT


Photographer unveils India's forgotten maze-like stepwells

Journalist Victoria Lautman has been known to discover the ignored stepwells in India for the past four years. And because of her obsession to uncover the forgotten historical aspect of India, she discovered over 120 stepwells in the country.

Oct 07, 2015 2:18 AM EDT


Mercedes-Benz self-driving truck began its road test in Germany's Autobahn 8

Daimler AG's first autonomous truck, the Mercedes Benz Actros, initially hit the public road in Germany. The automated truck is expected to be released in the 2020.

Oct 06, 2015 10:06 PM EDT


Toyota to launch driverless cars by 2020, unveils semi-automatic Lexus GS

Toyota Motor Corp has launched a new car Lexus GS making its entry into the market of self-driving cars. The Japanse automobile major is planning to launch three semi-automatic models this year. Toyota will also launch driverless cars by 2020, the year of Olympics in Japan.

Oct 06, 2015 9:55 PM EDT


US firms stash $2.1T overseas to skip tax at home

Major US companies prefer to keep their overseas profits out of the country to avoid taxes. It's estimated that 500 large Amercian companies hold $2.1 trillion accumulated profits in safe havens. To repatriate this amount, the US companies need to pay $620 billion in taxes.

Oct 06, 2015 9:48 PM EDT


Samsung struggling to increase revenue

Samsung is expected to announce its quarter earning report on Wednesday. The company has been carrying out lots of different strategy in order to increase its revenue especially in the smartphone industry.

Oct 06, 2015 9:35 PM EDT


AI startup Perceptio acquired by Apple

Apple Inc. announces that the company had acquired a startup that is developing an AI software that could be use in the smartphone. The software will helps users to avoid dependency on cloud computing for their image.

Oct 06, 2015 9:15 AM EDT


Ubisoft acquires Ivory Tower, the French developer of The Crew

Games developer, Ubisoft, purchased the Ivory Tower, the French company that developed the popular racing game, The Crew.

Oct 06, 2015 9:06 AM EDT


These 10 cities consider short work hours as source of pride

Longer hours of work mean more fatigue and more stress. Who would ever want a longer period of work anyways? If you want a shorter period of work, 1 of these 10 cities might be the place for you.

Oct 06, 2015 5:25 AM EDT


Tax hike, cost reduction in Greece budget for 2016

Alexis Tsipras-led government has submitted a draft budget for 2016 to the Greece Parliament, The draft proposes stringent measures to reform the ailing economy. The measures include a tax hike, reduction in costs, slashing down in government spending, attracting foreign investment, etc.

Oct 06, 2015 5:07 AM EDT


Samsung may tap $55B cash reserves for share buyback

South Korean electronics major Samsung may take up share buyback to boost the share price, which's suffering tis worst loss of streak since December 1983. The global electronics major may use its huge $55-billion cash reserves for share buyback.

Oct 06, 2015 5:05 AM EDT


Wal-Mart cuts 450 jobs at headquarters

Headquarters of Wal-Mart in Bentonville is laying off employees in keeping up with the pace of the customers' shopping behavior. The retail company's goal is to push its e-Commerce and be as quick to cater to customer needs and complaints to name a few.

Oct 06, 2015 3:32 AM EDT


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