Now, Chinese couples can have two kids legally
Ending the one-child regime, the Chinese government has decided to allow married couples to have two children. The new law is effective from 1 January 2016 and China will have three million extra babies every year for next five years owing to new law. It'll take the labor force up by 30 million by 2050.
Jan 01, 2016 8:39 PM EST
South Korean exports drop for 12 months
The world's sixth largest exporter South Korea suffered drop in exports throughout 2015. The exports fell 13.8 percent in December 2015 against the forecast of 11.7 percent. South Korea's trade surplus eased down to $7.2 billion in December 2015 from $10.32 billion from the previous month.
Oil slump hits $125-mn property debt in North Dakota
The lower oil prices are impacting the property market in shale hubs in North Dakota. The $125 million securitized loans backed by real estate are facing trouble-some situation. The rating agency Morningstar Credit Ratings LLC has estimated that a third of $340-million commercial mortgage-backed securities are facing threat as they're related to the shale hubs in North Dakota.
Atlanta's airport clocks 100mn passenger traffic in 2015
Hartsfield-Jackson Atlanta International Airport has become the world’s first to achieve 100-million passenger traffic in a single calendar year. The world’s busiest airport received its 100 millionth passenger on 27 December 2015 and felicitated him with loads of gifts. Atlanta’s airport had been the world’s busiest airport for 17 years in a row as of 2014.
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Apple May Face Tax Evasion Charges Again in the US After Italy
Apple Inc. is believed to tatter while confronting series of accusations for illegal tax dodging. Agreement for payment of unpaid tax liability in Italy establishes the event of tax dodging through amassing wealth in Ireland for its lower corporate tax rate. Now US tax authority’s claim for intended fund holding in a bid to evade tax may get huge momentum.
Jan 01, 2016 5:44 AM EST
New concept of McDonald’s opens in Hong Kong
McDonald's has opened a new dining concept called McDonald's Next. Located in Hong Kong, McDonald's Next offers new futuristic design with new features for the unique dining experience.
Dec 31, 2015 6:57 AM EST
International Robotics Show Witnesses World’s First Sensitive Robot Chef
Moley Robotics has attained the honor to represent world’s first sensitive robot chef, well versed not only in cooking but also in cleaning the utensils. The commercial version of the prototype will be available in the market in 2017. After unveiling the kitchen prototype in International Robotics Show, the robotics pioneer has been approached by major players in the restaurant industry, airlines, kitchen developers and even chef training schools.
Dec 31, 2015 6:54 AM EST
Facebook will face shareholder class action regarding its 2012 IPO
Manhattan district judge ruled that Facebook Inc. must face group claims by investors. The case is regarding the company previous statement that misled investors about its financial condition in the run-up to its May 2012 initial public offering.
Dec 31, 2015 6:06 AM EST
Toshiba Restructuring is Backed By Public Fund
Japanese government prepared a state-backed fund to help Toshiba restructure its business. Japanese electronic giant Toshiba will have to restructure after a massive loss.
Dec 31, 2015 1:05 AM EST
Toys R Us Closed Its Manhattan Flagship Store
Toys R Us closed its Times Square flagship store on Wednesday. The company is looking for a location for new store in Manhattan area.
Dec 31, 2015 12:49 AM EST
Julius Baer reaches agreement over U.S. tax cases with $200 million extra provisions
The Swiss bank Julius Baer has reached an agreement with the U.S. officials to set aside $200 million of additional provisions to settle tax evasion issue. The U.S. officials investigate the Swiss bank whether it helped American clients evade taxes.
Dec 31, 2015 12:28 AM EST
Spotify Was Sued $150 Million For Unpaid Royalties
Spotify the music streaming company is facing a $150 million class action suit from musicians over unpaid royalties
Dec 30, 2015 11:57 PM EST
Walter Energy wins court approval to stop paying retiree benefits
A federal judge published a ruling that approve the bankrupt U.S. company Walter Energy to stop paying retiree benefits to its employees and move forward to sell its assets.
Dec 30, 2015 3:09 AM EST
Energy investors hope forecasts by Saudi, Iran to go wrong
Energy investors and analysts feel that the price forecasts of Saudi Arabia and Iran are wrong. The realistic oil price may be $20 a barrel in short term if present oversupply persists. Saudi Arabia sees oil price at $29 a barrel and Iran at $40 in the near term. Saudi Arabia has slashed down its budget spending for 2016.
Dec 29, 2015 11:47 PM EST
Japanese steel output to remain flat in 2016, exports to soften
The steel inventories rose despite production cuts. The weakening demand is causing oversupply situation. The steel production levels may remain steady next year also. The iron and steel companies are suffering from decline in demand and rising inventories.
Dec 29, 2015 11:30 PM EST
Samsung Plans Initial Production of 5 Million Galaxy S7 in February
Samsung Electronics plans to start initial production of 5 million Samsung Galaxy S7 in two different version starting February.
Dec 29, 2015 7:08 PM EST
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