China's capital outflows tripling in November
China has been suffering from the increasing capital outflows, which tripled in November to $113biillion in November from $37 billion in October. The concerns about further depreciation in Yuan were the prime reasons behind the surge in capital outflows. The weaker Yuan will add competitiveness to exports, opine some economists.
Dec 10, 2015 1:57 AM EST
Jakarta greenlights Uber operations
Uber has received approval from Jakarta government to operate legally in the Indonesian capital, as long as it meets tax rules and other requirements from the government.
Norovirus outbreak in Seattle sickens 200 people
About 200 people have become infected by norovirus after attended a catered event at a downtown Seattle's Russell Investments Center. The health officials have closed all food vendors in the Seattle office building.
Airbnb confirms $1.5 billion fund raising round
The US-based home-sharing startup Airbnb has confirmed that it closed $1.5 billion fund-raising round in a filing to SEC. The latest round puts Airbnb's valuation at $25 billion. The home sharing services provider boosted its forecast for revenues to $900 million for 2015. Airbnb is planning to expand globally.
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South Africa's inflation up at 4.8% in November
South Africa's inflation rate was 4.8 percent in November from 4.7 percent in October. The inflation rate indicated its highest since July. The currency Rand continuous fall against the US dollar is further adding to inflation. South African economy narrowly missed the second recession in six years.
Dec 10, 2015 1:31 AM EST
Exxon refuses to share U.S. Tax information, hindering progress on energy transparency, says watchdog chief
Extractive Industries Transparency Initiative (EITI) head, Clare Short, said Exxon's refusal to share U.S. Tax information is hindering progress on the push for transparency in the energy business.
Dec 09, 2015 10:58 PM EST
Men have to cultivate a culture that encourage women in workplace, says Dell's CMO
Dell CMO Karen Quintos said that in order to remove gender bias in the work place, men must cultivate a culture that encourages women to think they can succeed
Dec 09, 2015 10:53 PM EST
Conflict against Russia could lead to $9 billion loss for Turkey
Due to the conflicts with Russia, Turkey's economy is at risk of losing $9 billion. Turkey's economy is at risk of losing $9 billion as Russia imposes sanctions involving food imports and energy supplies.
Dec 09, 2015 10:41 PM EST
Aging population a drag on US labor force growth
With the number of ageing Americans increasing, the employment growth rate will be under pressure in the 2014-2024 decade, according to the US Labor Department. The US economy may generate 9.8 million jobs during the decade, but the work-age population growth is slowing down.
Dec 09, 2015 10:37 PM EST
Kyocera, Century Tokyo completes Japanese 10MW solar power plant
Multinational electronics company Kyocera Corp. and Century Tokyo Leasing Corp. recently finished a 9.9-megawatt photovoltaic (PV) solar power plant in the Hyogo Prefecture, Japan.
Dec 09, 2015 10:19 PM EST
Cadbury is tax-free even with a whooping £96.5M profit
Mondelez, the American owner of Cadbury, is facing controversy for allegedly avoiding its UK corporate taxes despite earning £96.5 million.
Dec 09, 2015 10:08 PM EST
Civil suits vs Volkswagen will be heard in California
Hundreds of civil lawsuits against Volkswagen will be heard by a federal judge in California. The decision was made by a judicial panel despite a push from the automaker and the federal government to send the cases to different states.
Dec 09, 2015 9:23 PM EST
Teenagers Exploit the After School App Resulting to Harmful Results
The After School app allows teenagers in high school to posts anonymously about anything. This has caused an immense amount of cyberbullying and in some cases, threats to the students themselves.
Dec 09, 2015 8:32 PM EST
Big Tobacco vs UK Gov in Plain Packaging Hearing
A six day hearing will start Thursday between four major tobacco companies and the UK government over the legality of the plain packaging law to be put in effect next year.
Dec 09, 2015 8:19 PM EST
HondaJet is Waiting for FAA Approval for Production This Week
After years in the making, HondaJet is now awaiting final process of full certification to enter the market. This will be the first of Honda Jet aircraft series.
Dec 09, 2015 7:45 AM EST
Yahoo co-founder joins Didi Kuaidi
Didi Kuadi, largest car hailing app in China, has appointed Yahoo co-founder Jerry Yang as a senior advisor and board observer to the ride-hailing app firm as it battles Uber technologies for market share in China. In a statement, the company said Yang’s experience will help it build its mobile platform, which is already used by 250 million people in China. Both companies have stepped up their plans to expand in China recently, signaling tougher competition in the years ahead.
Dec 09, 2015 4:04 AM EST
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