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News

Puerto Rico Electric Power gets a breather on debt payment

Puerto Rico Electric Power Authority (Prepa) has got more time to work on the restructuring of debt and interest payment. This is for the fourth time Prepa received deadline extension. Prepa is holding discussions with insurance companies to guarantee its debt payment.

Dec 21, 2015 9:10 AM EST

News

Software revenues propel BlackBerry to beat Q3 forecast

Strengthened by software revenues, BlackBerry was able to reduce is losses during the third quarter. Beating the forecasts, the Canadian company posted a marginal loss of revenues. The timely decision of investment in security and software has been successful in enhancing revenues.

News

Toshiba in overhaul mode, may post $4 billion net loss

Toshiba is considering a restructuring plan to overhaul it loss-making businesses. The Japanese electronics major is said to have overstated profits for seven years and now forecast to report $4billion net loss. The company is struggling from the impact of an accounting scandal and may sell some units and stakes in some business.

News

Lumoid rents out the latest gadgets from Apple Watch to Beats wireless speaker

The startup Lumoid offers the latest gadgets rental service for affordable prices. Founded in 2013, Lumoid rents a number of latest products including digital cameras, wearable technologies, drones, and audio devices.

Myanmar Beer takes competition head on with new logo

Myanmar Beer Ltd (MBL) is facing stiff competition from foreign brands for its local Myanmar Beer and other four products. Encouraged with robust sales volume, Denmark and Dutch brands are enhancing their brewing capacities in Yangon. Myanmar Beer Ltd is also gearing up to meet the competition and has taken up a restructuring plan. It is focusing on innovation and new products as part of the overhaul exercise to win over new customers.

Dec 21, 2015 8:44 AM EST

GlaxoSmithKline to Buy Rival Bristol-Myers Squibb HIV Portfolio

GlaxoSmithKline has acquired the HIV research business of Bristol-Myers Squibb for $1.46 billion. British pharmaceutical company GlaxoSmithKline (GSK) announced on December 18, that it would buy HIV drugs from US rival Bristol-Myers Squibb.

Dec 21, 2015 8:10 AM EST

Samsung Galaxy S7 will have a Pressure-Sensitive Touch Screen With Retina Scanner

Samsung is going to launch a new Galaxy S7 with pressure-sensitive touch screen on March 2016. Samsung is going to launch a new Galaxy S7 on March 2016.

Dec 21, 2015 8:05 AM EST

US warns again Alibaba over selling counterfeit goods

Chinese e-Commerce major Alibaba Group has been served another warning letter by the US Trade Representative Office for selling counterfeit goods. The US officials in a latest report said that several brand owners were complaining about Alibaba Group for selling fake goods online. The US officials warned Alibaba that if it doesn't check the problem, it would be added to list of notorious markets for fakes.

Dec 21, 2015 8:01 AM EST

Credit Suisse gets nod for Irish branch

As part of its restructuring plan, Swiss banking major Credit Suisse is setting up its branch in Ireland. It has received regulatory approval for opening its branch. The bank will move its 100 employees to Dublin from London office. It'll also slash 2,000 jobs.

Dec 21, 2015 8:00 AM EST

Oil slips below $35 on worsening supply glut

Oil price fell further and was trading below $35 a barrel on worsening the oversupply. The latest decision by US Federal Reserve to hike interest rate is also making oil expensive for weaker economies. The surging US dollar is further putting pressure on oil price.

Dec 21, 2015 7:48 AM EST

The New Apple TV with Microphone on Remote, Introduced by Siri Saves You $10

Apple has launched its new version of Apple TV with Microphone on Remote, introduces Siri. Apple has unveiled its new version of Apple TV with Microphone on Remote feature, introduces Siri.

Dec 21, 2015 7:43 AM EST

LifeLock Is To Pay $100 Million Settlement For Deceptive Advertising

LifeLock, the identity theft protection company has to pay $100 million settlement over its false advertising and violation of previous settlement..

Dec 21, 2015 7:27 AM EST

Researchers are developing robotic hand-worn to help the blind to “see”

Researchers at the University of Nevada and the University of Arkansas team up to develop a robotic glove-like device that can help the blind to recognize the objects around them. The researchers team received $820,000 of NRI grant to develop this technology.

Dec 21, 2015 6:00 AM EST

Ebola survivors may suffer various illnesses after they recovered from the virus

The recent study performed by the CDC researchers found that people who survived from Ebola virus have experienced various illnesses after they have recovered, including hair loss, joint pain, and eye problems.

Dec 21, 2015 5:56 AM EST

Tesla CEO Musk suggests California to push Volkswagen to electric cars

The automobile industry leaders and experts have written a letter to California regulator asking it to confine Volkswagen to making of electric vehicles only as a punishment for cheating the customers and violating the US emissions laws. Tesla CEO Elon Musk and others signed the letter. They opine that fixing the software involves lots of money and could also lead to technical problems further.

Dec 21, 2015 5:49 AM EST

Aussie billionaire James Packer quits board amid drop in gambling revenues in Macau

James Packer, an Australian billionaire, has left the board of Crown Resorts Ltd as Chairman. Crown Resorts is suffering from a drop in gambling revenues in Macau. Packer will continue as co-Chairman of Crown Resorts. Packer has decided to focus on development projects in the US and Australia.

Dec 21, 2015 3:51 AM EST