Samsung struggling to increase revenue
Samsung is expected to announce its quarter earning report on Wednesday. The company has been carrying out lots of different strategy in order to increase its revenue especially in the smartphone industry.
Oct 06, 2015 9:35 PM EDT
AI startup Perceptio acquired by Apple
Apple Inc. announces that the company had acquired a startup that is developing an AI software that could be use in the smartphone. The software will helps users to avoid dependency on cloud computing for their image.
Ubisoft acquires Ivory Tower, the French developer of The Crew
Games developer, Ubisoft, purchased the Ivory Tower, the French company that developed the popular racing game, The Crew.
Tax hike, cost reduction in Greece budget for 2016
Alexis Tsipras-led government has submitted a draft budget for 2016 to the Greece Parliament, The draft proposes stringent measures to reform the ailing economy. The measures include a tax hike, reduction in costs, slashing down in government spending, attracting foreign investment, etc.
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Samsung may tap $55B cash reserves for share buyback
South Korean electronics major Samsung may take up share buyback to boost the share price, which's suffering tis worst loss of streak since December 1983. The global electronics major may use its huge $55-billion cash reserves for share buyback.
Oct 06, 2015 5:05 AM EDT
Bill Gross sees further 10% drop in US stocks
Bill Gross, a bond manager and co-founder of Pimco, forecasts further 10% drop in the US markets as flat corporate profits, oil price drop, slump in commodities prices, uncertainty in global economy will continue to impact the markets in a negative way.
Oct 06, 2015 1:23 AM EDT
American Apparel filed for bankruptcy protection; restructures $300M debt
American Apparel will restructure its debts upon filing for bankruptcy protection. CEO Paula Schneider said they plan the restructure for the next six months.
Oct 06, 2015 1:21 AM EDT
Shell assures investors: Dividends will be protected
Shell's CEO announce that the company will not cut its dividend payment this year even though the oil price continues to go low. The announcement was made in an email statement by Ben Van Beurden himself.
Oct 05, 2015 11:52 PM EDT
World Bank sees global poverty to slip below 10% for first time
The poverty percentage in the world population is poised to drop below 10 percent in 2015 for the first time, forecasts World Bank, which has raised the benchmark of international poverty line to $1.90per day from $1.25 a day in 2005 after taking Purchasing Power Parity (PPP) into consideration.
Oct 05, 2015 9:41 PM EDT
Volkswagen calls for an extraordinary board meeting over emission tests issue; will appoint Poetsch as the new head
Volkswagen board will have an extraordinary meeting on Wednesday. Along with that, Hans Dieter Poetsch will be appointed as the new head of the supervisory board.
Oct 05, 2015 9:34 PM EDT
Breakthrough in Trans Pacific trade talks
12 countries including the US, Australia, Japan, New Zealand seem to have reached an agreement on Trans Pacific Partnership (TPP) after the prolonged negotiations over five years. It's learnt that agreeing on monopoly on new heathcare drugs is a major breakthrough in arriving the deal. Australis inistited on five year protection on new healthcare drugs, while the US is keen on longer term of monopoly. Sources say that they arrived on a balancing act by adopting a two-way track in drug pricing mechanism.
Oct 05, 2015 9:29 PM EDT
Will China impose a punitive tax on forex trades?
A senior Chinese official in an official magazine China Finance suggest the Chinese government to impose punitive leve or Tobin tax on forex transactions in Yuan. This suggestion has been made to reduce trading in the Chinese currency thus arresting the fall in forex reserves. Chinese government is offloading huge amounts of US dollars to supprt the falling Yuan ever since its devaluation on 11 August.
Oct 05, 2015 7:10 PM EDT
Global regulators hike capital requirement for big insurers by 10%
The International Association of Insurance Supervisors had agreed to introduce new regulation for insurance company. The regulation will see major insurance companies need to increase their average capital to almost 10 percent.
Oct 05, 2015 8:38 AM EDT
What is wrong with Peeple: New app faces strong resistance
The people-rating app, Peeple, is about to be launched in November 1. But a lot of people wanted to halt its launching because they found it damaging to people's privacy.
Oct 05, 2015 4:36 AM EDT
Falling shares will close Dunkin’ Donuts 100 U.S. stores
Who would not love a steaming hot coffee partnered with donuts in the morning? Surely everyone knows and loves Dunkin’ Donuts. Unfortunately, it has to close 100 of its U.S. stores due to collapsing shares.
Oct 05, 2015 2:37 AM EDT
Boeing 777 propels Emirates Airlines' growth
Dubai-based Emirates Airlines is banking on wide-body aircraft for long-haul flight operations enabling it to become a global hub in the Middle East Region. Emirates is the world's biggest operator of Boeing 777 and Airbus A380 aircraft. The total aircraft fleet of Emirates includes 50 Airbus A380s and 100 Boeing 777 aircraft, which are playing a vital role in the success of the Dubai-based airline.
Oct 05, 2015 2:27 AM EDT
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