Oil slump major risk for Malaysia debt
The debt-ridden 1Malaysia Development Bhd (1MDB) is in the process of selling assets to reduce its debt. Though it has already identified buyers for its asset sale, investors say the oil price slump is the major concern over the nation's financial situation. Oil revenues account for 22 percent of total Malaysian government revenues. The government is planning to impose higher taxes to compensate oil price drop.
Dec 11, 2015 10:18 AM EST
Morgan Stanley in $225 million deal with U.S. regulator
National Credit Union Administration (NCUA) filed lawsuits against banking lenders includng Morgan Stanley for allegedly selling faulty mortgage-backed securities. Morgan Stanley without admiting its fault, has agreed to pay $225 million to seele the claims. The total value of such claims recovered by NCUA reached to $2.43 billion since 2011.
Wal-Mart Marketing head Stephen Quinn to retire, says WSJ
The longtime Marketing Chief Officer of Wal-Mart Store’s Inc., Stephen Quinn, plans to step down by the end of January.
US imposes new sanction to North Korea: Strategic Rocket Force added to the list
Last Tuesday, the U.S. imposed new financial sanctions targeting North Korea's Strategic Rocket Force.
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Tesla says Australian utility Origin to market solar battery
Tesla Motors Inc. listed Australia's largest power and gas retailer, Origin Energy, as one of the distributors for its solar battery storage product, Powerwall, which the company is launching globally in two other countries. The Powerwall is initially targeted at early adopters, both by Tesla and by Origin. The product will be available for installation starting February 2016.
Dec 11, 2015 7:16 AM EST
Chipotle Mexican Grill in Seattle Closed for the Violation of Food Safety
The Chipotle restaurant was closed by the Seattle-King and County, public health officials due to the violation of the food safety policies. People are suffering from various illness after eating in this restaurant chain.
Dec 11, 2015 4:19 AM EST
Asian stocks ending week on weaker note as commodities remain sluggish
Asian stocks set for weaker weekly closing on sluggish commodities prices. The continuous oil price drop and further weaker Yuan currency also weakened the investor confidence. The market players were in wait and watch mode ahead of US Fed meeting next week.
Dec 11, 2015 4:13 AM EST
'Spencer' The Robot Is Here to Save the Day
Spencer now helps traveler to find their way from 30th November at Schiphol Amsterdam Airport. Spencer is the robot that guides travelers to get their way at Schiphol Amsterdam Airport in case they missed the flight.
Dec 11, 2015 4:11 AM EST
Buffet buys 8% in Sears' REIT Seritage Growth
Warren Buffett has acquired 8% stake in Seritage Growth Properties, amounting to $70.5 million. Berkshire Hathaway is also buying a real estate firm, Allie Beth Allman & Associates. The latest acquisitions by Buffett will add financial strength to Sears Holdings.
Dec 11, 2015 4:10 AM EST
Fed might hike rates, but it will be a bad decision, warns bond king Gundlach
Jeffrey Gundlach, the bond king in the US markets, says the current economic situation and market conditions are not in favour of interest rate hike. If US Federal Reserve increases rate this month, then it will regret its decision, he said. Stating that 100% of economists forecast rate hike. latest jobs data and other parameters are giving more room for US Fed to take decision on rate hike.
Dec 11, 2015 3:29 AM EST
Facebook re-enables social network to Tsu content
Facebook has raised a restriction that blocked content from Tsu.co. Facebook has raised a restriction that blocked content from Tsu. Co, a competitor challenging the Facebook's financial dependence on free content shared by its 1.
Dec 11, 2015 3:15 AM EST
Dow Chemical and DuPont are in the late-stage talks for $120B merger
Dow Chemical and DuPont are in advanced talks for a merger. The companies could announce the $120 billion deal in the next few days.
Dec 11, 2015 1:14 AM EST
Flying High: Boeing's rating upgraded to 'Buy'
Several equity research firms upgraded ratings on Boeing. The timely deliveries are enhancing revenues for the aircraft maker. For the quarter ending October, its revenues surpassed market forecasts. Barring one equity research firm, 13 gave it 'buy' rating and three recommened for holding it.
Dec 10, 2015 9:51 PM EST
Finnish government is planning to give every adult citizen $800 per month
The Finnish government is planning to introduce a tax-free monthly payment of $865 to all adult Finns. The payment will be made regardless of their income or employment status and would replace other benefits.
Dec 10, 2015 9:46 PM EST
Kering, The Owner of Gucci Sold Sergio Rossi Luxury Shoes
Kering SA, reached an agreement to sell its luxury shoemaker Sergio Rossi to a private equity firm. Sergio Rossi, the famous brand for luxury women shoes now belongs to Investindustrial, a leading European investment.
Dec 10, 2015 7:41 PM EST
Google Discontinued Nexus 6, Focus on Nexus 6P
Google announced to discontinue its Nexus 6 starting December 8. However, customers still be able to find the phablet in Amazon.
Dec 10, 2015 10:34 AM EST
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