Major U.S. banks raised their prime rates, a benchmark for a wide range of consumer and commercial loans, for the first time since 2006 on Wednesday, following a rate hike from the Federal Reserve. While the Fed has no direct influence on the prime rate, it is typically closely correlated to changes in the target federal funds rate.

Dec 17, 2015 03:51 AM EST

To gain more sellers and help people sell their unwanted Christmas gifts, eBay will be setting up physical shops in Westfield Malls on December 26 to 27.

Dec 17, 2015 08:08 PM EST

Wells Fargo & Company announced Tuesday that it will give $50,000 to the San Bernardino United Relief Fund to help the families of the victims of the shoot out.

Dec 17, 2015 08:07 PM EST

The U.S. White House decided to delay Boeing 747 order for the new Air Force One upgrade to fiscal 2017. The congressional negotiators provide less than expected spending bill for the presidential aircraft

Dec 17, 2015 03:34 AM EST

Third Avenue Management LLC ("Third Avenue" or the "Adviser"), an investment adviser to private and institutional clients, today announced that the Adviser and the Third Avenue Focused Credit Fund ("FCF") have obtained exemptive relief from the Securities and Exchange Commission ("SEC") to continue to protect shareholders of FCF following modification of the Plan of Liquidation for FCF.

Dec 17, 2015 03:40 AM EST

Renee James, former president of Intel Corp. joins Oracle Board as one of the Directors.

Dec 18, 2015 10:16 PM EST

HTC plans to release its new Android smartphone called One X9. The smartphone is targeted toward midrange market, and will go on sale in early 2016.

Dec 17, 2015 03:15 AM EST

Google is working hard to bring driverless cars on roads as soon as possible. But California has announced a new set of regulations, which includes the presence of licensed driver on the front seat and special certification. The technology Roll-out is expected to get delayed till 2017 at least.

Dec 17, 2015 10:27 PM EST

After a devastating series of food poisoning in its restaurants nationwide in 2015, Chipotle has to change their food preparation practice.

Dec 17, 2015 09:54 PM EST

South Africa's rating has been downgraded by Moody's from stable to negative. The sluggish economy, rising risks and political pressures are primary reasons for downgrading. The most developed nation in Africa is lagging in human and physical infrastructure resources. The country needs to enhance the skills set of people to make them employable.

Dec 17, 2015 01:53 AM EST

The year-long price weakness in oil is helping airlines post record level profits. During the last nine months of 2015, the US aviation industry recorded over 60 percent growth in profits. Fuel account for 30 percent of operating expenses of airlines. The drop in oil price is boosting operating profits. Airlines are also passing the oil price drop benefit to passengers as they slashed airfares.

Dec 17, 2015 01:41 AM EST

Aerodrome will build the world first droneport in the Boulder City, Nevada. This facility is approved by FAA for training and certification of drone pilot.

Dec 17, 2015 07:09 AM EST