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News

Foreign firms dominate Chinese robotic sector

Chinese firms are struggling to compete with foreign firms in the production of robots. This lead to domination of foreign firms in the China robotic market creating a loss for the country as they are shifting from labor work to automation work.

Sep 22, 2015 2:46 AM EDT

News

Google to unveil two new products on 29th September

Google Ceo, Sundar Pichai will be hosting his first Google event in its San Franciso office this coming 29th September. He is expected to unveil new Google Nexus and Google Chromecast during the event.

News

Jessica Alba's The Honest Company grants a 16-week paid maternity leave to its employees

Jessica Alba's co-founded company, The Honest Company, will provide paid parental leave to its workers starting 2016.

News

Diageo Plc to Raise Stake in Guinness Nigeria Plc of up to 70%, or $200M

Diageo Plc plans to raise its stake in Guinness Nigeria Plc to 70 percent, which is a deal worth $200 million.

Federal Reserve leaves the interest rate unchaged, causing panic among investors

Three major U.S indexes closed lower on Friday after the Federal Reserve decision not to change the interest rates after Thursday's meeting. The decision brings concern for investors as global economic is expected to continue its declining pattern.

Sep 22, 2015 2:30 AM EDT

Chinese firms sign L.A-Las Vegas high-speed rail project

After 10 years of working on the project, the high-speed rail link between Los Angeles and Las Vegas is taking off following the signing of a deal by a group of Chinese firms with XpressWest, a US company. The China President Xi Jinping is visiting the US, during his tour next week, the project will be announced.

Sep 22, 2015 12:00 AM EDT

Crisis-hit Puerto Rico takes up VAT route to shore up revenues

Caribbean islan Puerto Rico has decided to implement VAT system from 1 April 2016 onwards exempting its manufacturing industry from paying taxes on imports of raw materials. The new tax system has been designed with an aim of facilitating the much controversial $1.5-bn stimulus plan for reviving the ailing economy. The Islan has also increased sales tax.

Sep 21, 2015 11:11 PM EDT

Volkswagen might get fined $18 billion for 'defeat device' installation

Volkswagen might get penalized amounting to $18 billion for not complying with the Clean Air rules of EPA. The German trademark cars can be recalled by EPA since they have the authority to do so.

Sep 21, 2015 11:08 PM EDT

Snapchat new update can be good for business

Snapchat releases two new update for their apps today creating a frenzy among social media users. The new updates enables users to use animation in their snap and also allowing for more replays than previously once per day.

Sep 21, 2015 11:01 PM EDT

Canadian bank sectors expected to boost payouts in 2016

Banking related stocks are expected to pay more dividend to investors by next year amidst the global economic uncertainty. However, three stocks to watch all are listed on Toronto Stock Exchange as Canada have been slowly growing even during this uncertainty period.

Sep 21, 2015 10:59 PM EDT

Alibaba and Suning Partnership Could Change China's E-commerce Domination

China e-commerce sompetition is getting fierce as AliBaba and Suning had agreed to a partnership. The partnership could see both companies grow their customers with the latest O2O strategy to outrun current market leader JD.com.

Sep 21, 2015 10:08 PM EDT

Sharp Corp explores ways on LCD biz revival, Taiwanese firm offers bid for it

Japanese electronics major Sharp Corp is in the process of reviving its LCD business unit. It's trying to access funding support from Apple Inc, for which it supplies LCD screens. Sharp is also approaching banks on revival package. On the other hand, Taiwanese firm Hon Hai has made a bidding for acquiring the LCD business of Sharp. However, both the companies didn't confirm it.

Sep 21, 2015 9:54 PM EDT

US export companies look to other shores as EXIM shuts down

The US companies engaged in foreign trade and aviation firms find it difficult to run the show following the closure of the US Export-Import Bank (EXIM). This causes non-availability of export financing and loan guarantee for the US companies. As a result, many comapnies are planning to shift out of the US to establish units overseas. Aerospace Industries Association is lobbying with Congress members for revival of EXIM.

Sep 21, 2015 9:50 PM EDT

August crash impacts JPMorgan's trading revenues

JPMorgan Chase & Co has indicated the possible drop in trading revenues for the third quarter following the market crash in August. The bank has alo cautioned that if interest rate is inncreased then it'll cause high volatility in treasuries market. JPMorgan is expanding its retail operations network by setting up 100 new branches over next two years.

Sep 21, 2015 2:10 AM EDT

Mitsubishi Motors in US calls it a day

Mitsubishi Motors is closing down its US operations following high production costs and low volumes. The Japanese automobile major was hit by strong US dollar that makes imports attractive.

Sep 21, 2015 2:02 AM EDT