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Modi-led Indian government seeks corporatization of state firms

India’s Prime Minister Narendra Modi is in favor of corporatizing state-run firms. He calls for a combined effort of central government and states to ensure sustainable economic recovery. While criticizing the old concept of divesting or closing down of state-run firms, Modi aims at bringing efficiency in the public sector undertakings (PSUs).

Dec 07, 2015 2:04 AM EST

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Mexico's Pemex enters the US market

Mexican petroleum major Pemex has opened its first overseas gasoline station in Houston. Pemex will set up five more gasoline stations in the US as part of its expansion plan. The Mexican energy giant is suffering from oil price drop in addition to lower production level. The Mexcian government has opened up its energy sector by allowing foreign companies to set up gasoline stations in Mexico.

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Volkswagen sales skid 20% in UK, 25% in US

Since the broke out of emissions scandal, Volkswagen has been suffering from sluggish sales volume. The sales of German auto major fell 20% in the UK and 25% in the US during November, while it managed to sustan in its home market as sales dip marginally by three percent.

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Banana Republic sales continue to slump

Banana Republic, a brand of Gap Inc, has been suffeirng sluggish sales for the past seven months. it fell 15 percent in November. Gap Inc is witnessing declining sales across its 3,700 stores. Banana Republic is in the process fo redesing product range to win the hearts of buyers.

Canada gets crude oil from Enbridge Line 9B

The oil produced in western Canada has turned out to be cheaper than imports. This situation is driving oil refineries in eastern Canada to get crude oil from western Canada. Enbridge's Line 9B, a newly reversed pipeline started pumping oil to eastern Canadian refinery.

Dec 07, 2015 1:42 AM EST

Stocks drop, oil sinks below $40 a barrel

U.S. stocks went down as oil prices sank below $40 a barrel, leading to a decline on the energy companies.

Dec 06, 2015 3:48 AM EST

Sony Acquired Toshiba Image Sensor Business for $155 Million

Sony has officially announced the purchase of Toshiba image sensor business for ¥19 billion ($155 million). The image sensor will operate under new company.

Dec 05, 2015 9:08 AM EST

Rivals Join Forces Creating Global Service to Take Down Uber

Four Uber rivals join forces to create a global service of unified ride hailing service. The service will be available next year.

Dec 05, 2015 8:53 AM EST

The Shining Star Wars Droid BB-8: Studded With Diamonds and 18-Karat Gold

The Star War BB-8 droid is immortalized in gold and silver by Kay Jewellers. It is said to have collaborated with the Disney Consumer Products.

Dec 04, 2015 9:12 AM EST

McDonald’s Yummy Launch: French Fries Loaded with Extra Toppings of Salsa, Bacon and Guacamole

McDonald’s introduce two new flavored sauces to be served with French Fries. The bacon and cheese version and the guacamole and salsa version are the two toppings for the season.

Dec 04, 2015 8:56 AM EST

Soda Drinks Removed from the Children’s Menu of Applebees and IHOP

Applebees and IHOP, top food chains drop the soft drink from their menu for children. This is a conscious step for the good health of the children.

Dec 04, 2015 8:44 AM EST

Moschino’s Merger with Nintendo Will Unveil The Super Moschino Collection on 5th December 2015

The Nintendo collaborated with Moschino to create the Super Moschino collection to celebrate the 30 years of the Super Mario Series. It will include items with the images of the beloved Nintendo characters.

Dec 04, 2015 8:38 AM EST

Asian stocks reel under pressure ahead of Fed meeting

Asian stocks fell further after hovering at three-week lows amid weaker oil prices. The statements from the US Federal Reserve and European Central Bank (ECB) further worsened the situation., The ECB reduced deposit rates and this discouraged the market. The forthcoming jobs data and inflation numbers will set the tone for US Fed, which will meet in December to take a decision on interest rate hike.

Dec 04, 2015 4:13 AM EST

Chinese regulator defends its intervention in securities market

China Securities Regulatory Commission (CSRC) has defended its interventions in the market as it prevented further volatility after the August crash. The intervention was justified as foresight on the part of Chineses officials to prevent a possible market crash.

Dec 04, 2015 4:04 AM EST

Opec members lock horns over who should cut down production

The latest meeting of OPEC in Vienna concluded without any decision on the production level. Saudi Arabia is believed to have proposed production cuts if non-OPEC nations join them. OPEC members are also discussing on who should cut the production. There's no conclusion after the one hour-long meeting.

Dec 04, 2015 2:45 AM EST

American CEOs: US economy remains gloomy, tax code uncompetitive

A majority of chief executives expressed their concerns over the US economy and not willing to spend more in 2016. They said US tax code is not competitive and driving many companies to leave the US as they prefer tax havens.

Dec 04, 2015 2:37 AM EST