For seven sessions in a row, European stocks suffered losses amid growing concerns about the global economy growth. The lower oil prices, disappointing quarterly results and sluggish global markets are also taking a toll on European stocks. Indicating the alarming situation in the European financial sector, the cost insuring debt against default reached its peak since 2013.

Feb 10, 2016 08:29 AM EST

As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.

Feb 10, 2016 08:21 AM EST

The Royal Melbourne Hospital is on the verge of a medical breakthrough with its 'Stentrode' - a small, paper-clip-like brain implantation that is said to bring back mobility to paralyzed patients. This cure will eliminate the need of an open brain surgery, and the first clinical trials on human are slated to begin in 2017 in Melbourne.

Feb 10, 2016 08:16 AM EST

Months after rebranding Xbox Music and relaunched it by the name Groove, Microsoft acquired a music player app that goes by the same name. The Montreal-based startup agreed to sell the name and technology to Microsoft, but the details are disclosed by both companies.

Feb 10, 2016 08:13 AM EST

After launching the public beta version in December, owners of Sonos system will now be able to enjoy Apple music service. The features will be available starting Wednesday morning.

Feb 10, 2016 08:10 AM EST

U.S. Bankruptcy Court of the Southern District of New York on Tuesday ended the liquidation proceeding of the MF Global. Judge Martin Glenn ruled to close the estate of the defunct brokerage and repay the customers $1.8 billion .

Feb 10, 2016 08:07 AM EST

Samsung is probably going to unveil Galaxy S7 and S7 Edge as its new flagship smart phones in the WMC to be held within February 22 to 25. Introduction of Galaxy S6 variants hasn’t become much fruitful for Samsung. But the new S7 variants are widely assumed to bring fortune for Samsung since incorporation of mass desired features.

Feb 09, 2016 09:49 AM EST

Volkswagen's heavy truck division is exploring several options for enhancing business growth. The trucks division is studying initial public offer (IPO) plan and acquisition route to achieve higher growth rate. Trucks division is keen on expanding in the US and Chinese markets.

Feb 09, 2016 09:43 AM EST

Barclays, Credit Suisse and Evercore have acted as financial advisers to Apollo Education. Despite their advisory efforts, the institution has incurred a loss of $60.8 million during the last concluded fiscal quarter. Finally, Apollo Education has been compelled to go through acquisition for $1.1 billion.

Feb 09, 2016 09:37 AM EST

One of China’s biggest venture capital firm, Qiming, secured its fifth US dollar venture capital fund in total of $648 million. The fund will help expand the firm’s investments in Chinese top startups in various sectors such as internet, consumer, technology, healthcare, as well as cleantech.

Feb 09, 2016 09:32 AM EST

An MIT research team has introduced a new computer chip, Eyeriss, that will allow IoT devices to go through deep learning process. Data collected by the devices, is currently uploaded to the internet for processing by power servers. Eyeriss chip processes the collected data locally using the neural technology and thus ensures data security and reduces power consumption.

Feb 09, 2016 09:27 AM EST

The German sportswear and apparel giant ends sponsorship with the International Association of Athletics Federation (IAAF). Adidas decided to terminate the contract because of continuous doping scandal and corruption.

Jan 25, 2016 08:48 AM EST