Now, Chinese couples can have two kids legally
Ending the one-child regime, the Chinese government has decided to allow married couples to have two children. The new law is effective from 1 January 2016 and China will have three million extra babies every year for next five years owing to new law. It'll take the labor force up by 30 million by 2050.
Jan 01, 2016 8:39 PM EST
South Korean exports drop for 12 months
The world's sixth largest exporter South Korea suffered drop in exports throughout 2015. The exports fell 13.8 percent in December 2015 against the forecast of 11.7 percent. South Korea's trade surplus eased down to $7.2 billion in December 2015 from $10.32 billion from the previous month.
Oil slump hits $125-mn property debt in North Dakota
The lower oil prices are impacting the property market in shale hubs in North Dakota. The $125 million securitized loans backed by real estate are facing trouble-some situation. The rating agency Morningstar Credit Ratings LLC has estimated that a third of $340-million commercial mortgage-backed securities are facing threat as they're related to the shale hubs in North Dakota.
Atlanta's airport clocks 100mn passenger traffic in 2015
Hartsfield-Jackson Atlanta International Airport has become the world’s first to achieve 100-million passenger traffic in a single calendar year. The world’s busiest airport received its 100 millionth passenger on 27 December 2015 and felicitated him with loads of gifts. Atlanta’s airport had been the world’s busiest airport for 17 years in a row as of 2014.
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Sarah Palin To Sell Her Arizona House for Nearly $2.5 Million
Former governor of Alaska Sarah Palin is selling her family house in Arizona with a listed price of $2.49 million.
Jan 01, 2016 8:30 PM EST
China is building its second aircraft carrier amid maritime tensions
China defense ministry confirmed that its building a second aircraft carrier. The new carrier was designed in China and is being constructed in the port of Dalian.
Jan 01, 2016 5:48 AM EST
Apple May Face Tax Evasion Charges Again in the US After Italy
Apple Inc. is believed to tatter while confronting series of accusations for illegal tax dodging. Agreement for payment of unpaid tax liability in Italy establishes the event of tax dodging through amassing wealth in Ireland for its lower corporate tax rate. Now US tax authority’s claim for intended fund holding in a bid to evade tax may get huge momentum.
Jan 01, 2016 5:44 AM EST
New concept of McDonald’s opens in Hong Kong
McDonald's has opened a new dining concept called McDonald's Next. Located in Hong Kong, McDonald's Next offers new futuristic design with new features for the unique dining experience.
Dec 31, 2015 6:57 AM EST
Facebook will face shareholder class action regarding its 2012 IPO
Manhattan district judge ruled that Facebook Inc. must face group claims by investors. The case is regarding the company previous statement that misled investors about its financial condition in the run-up to its May 2012 initial public offering.
Dec 31, 2015 6:06 AM EST
Sweden is the first country to become cashless society
Banknotes will soon be eliminated and Sweden will be the first country to become a cashless society. Although, a lot of the country's banks no more accept or dispense cash, this move toward a digital economy seems not advisable since there are risks included using apps and cards as a mode of payment
Dec 31, 2015 5:45 AM EST
‘Microsoft Selfie’: Smart Photo App For Intelligent Quality Enhancements
After leveraging the popularity through release of Outlook and other free apps, Microsoft has appeared again in the screen with an intelligent photo quality improver, the Microsoft Selfie. It uses algorithms to improve photo quality, capable of reducing noises and provide the same look and quality across rear and front camera lenses. Available in the iTunes, the app is believed to be displayed in the home screen of the iPhone and Android devices,during the past two years.
Dec 31, 2015 3:32 AM EST
Toshiba Restructuring is Backed By Public Fund
Japanese government prepared a state-backed fund to help Toshiba restructure its business. Japanese electronic giant Toshiba will have to restructure after a massive loss.
Dec 31, 2015 1:05 AM EST
91% of patients who survive opioid overdose are prescribed more opioids
Boston Medical Center study of chronic pain treatment revealed that 91% of people, who survived opioid overdose continued to receive prescription of the same drug afterwards. In 2013, 16,235 people died due to opioid overdose. LaRochelle believed that doctors are practicing "in a good faith effort", but the tools they use does not identify high-risk patients.
Dec 31, 2015 12:59 AM EST
Actor Baron Cohen and wife give $1m for Syrian refugees
Around four millions of Syrians have fled to their neighboring countries to escape the civil war and have been receiving funds globally. Comedian Sacha Baron Cohen and his actress wife, Isla Fisher also have donated around $1millions. Around 1,400 of the charity's volunteers are working to assist the victims of the civil war.
Dec 31, 2015 12:54 AM EST
Toys R Us Closed Its Manhattan Flagship Store
Toys R Us closed its Times Square flagship store on Wednesday. The company is looking for a location for new store in Manhattan area.
Dec 31, 2015 12:49 AM EST
Julius Baer reaches agreement over U.S. tax cases with $200 million extra provisions
The Swiss bank Julius Baer has reached an agreement with the U.S. officials to set aside $200 million of additional provisions to settle tax evasion issue. The U.S. officials investigate the Swiss bank whether it helped American clients evade taxes.
Dec 31, 2015 12:28 AM EST
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