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News

Morgan Stanley in $225 million deal with U.S. regulator

National Credit Union Administration (NCUA) filed lawsuits against banking lenders includng Morgan Stanley for allegedly selling faulty mortgage-backed securities. Morgan Stanley without admiting its fault, has agreed to pay $225 million to seele the claims. The total value of such claims recovered by NCUA reached to $2.43 billion since 2011.

Dec 11, 2015 10:09 AM EST

News

EU warns Thailand of airline safety enhancement

Thailand’s airlines have been spared a ban from European skies despite concerns over flight safety in the country. Last Thursday, EU regulators issued a special warning over travelling on Airlines from Thailand, but stopped short of following last week’s US damaging safety downgrade for a country heavily dependent on tourism.

News

Pew finds middle class no longer dominates in the U.S.

Middle-class once dominated the US, but now the percentage has decreased sharply. Pew research center finds that middle-class population in America has declined to nearly half, 49.9%, which has been decreased by 61% as compared to in 1971. According to analysts, the declining rate is bad for the economic and social stability of the nation.

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E. Coli Outbreak and The Biggest Food Recall in 2015

Several cases of food E. coli outbreak have become headline this year. E.coli may have been the major cause of food recall in 2015 along with listeria bacteria and defect.

Asian stocks ending week on weaker note as commodities remain sluggish

Asian stocks set for weaker weekly closing on sluggish commodities prices. The continuous oil price drop and further weaker Yuan currency also weakened the investor confidence. The market players were in wait and watch mode ahead of US Fed meeting next week.

Dec 11, 2015 4:13 AM EST

'Spencer' The Robot Is Here to Save the Day

Spencer now helps traveler to find their way from 30th November at Schiphol Amsterdam Airport. Spencer is the robot that guides travelers to get their way at Schiphol Amsterdam Airport in case they missed the flight.

Dec 11, 2015 4:11 AM EST

Buffet buys 8% in Sears' REIT Seritage Growth

Warren Buffett has acquired 8% stake in Seritage Growth Properties, amounting to $70.5 million. Berkshire Hathaway is also buying a real estate firm, Allie Beth Allman & Associates. The latest acquisitions by Buffett will add financial strength to Sears Holdings.

Dec 11, 2015 4:10 AM EST

Drones with Night Vision Use Thermal Camera

Drone maker DJI with FLIR, to develop a new drone camera that can shoot in complete darkness. Drone maker DJI on Thursday said it is working with FLIR, to develop a new drone camera that can shoot in complete darkness.

Dec 11, 2015 3:54 AM EST

Ford to invest $4.5 billion on electric cars by 2020

Ford said it is investing $4.5 billion in electric vehicles by 2020. It will add 13 new electric cars to its lineup in the next five years.

Dec 11, 2015 3:35 AM EST

Fed might hike rates, but it will be a bad decision, warns bond king Gundlach

Jeffrey Gundlach, the bond king in the US markets, says the current economic situation and market conditions are not in favour of interest rate hike. If US Federal Reserve increases rate this month, then it will regret its decision, he said. Stating that 100% of economists forecast rate hike. latest jobs data and other parameters are giving more room for US Fed to take decision on rate hike.

Dec 11, 2015 3:29 AM EST

Facebook re-enables social network to Tsu content

Facebook has raised a restriction that blocked content from Tsu.co. Facebook has raised a restriction that blocked content from Tsu. Co, a competitor challenging the Facebook's financial dependence on free content shared by its 1.

Dec 11, 2015 3:15 AM EST

TCS announced Rs 1,100 crore as interest free loans to flood-hit employees in Chennai

Recently, the flood marked as one of the history's worst disaster struck Chennai. In order to provide relief and rehabilitation facilities, IT giant of India, Tata Consultancy Services (TCS) has decided to provide them with interest-free funds of Rs 1,100 crore. It has followed the footsteps of US listed rival Cognizant.

Dec 11, 2015 2:53 AM EST

The 2016 BMW diesel X5 SUV will go on sale next month as EPA emission test checked out

The U.S. EPA announced it has approved the sale of the new BMW diesel X5 as the testing found that there is no evidence of a defeat device to cheat emission tests. The diesel SUV will be going into production soon and will be available on the market in January.

Dec 11, 2015 1:55 AM EST

Alaska Governor seeks income tax for the first time in 35 years

Alaska State Governor Bill Walker as part of his New Sustainable Alaska Plan,suggested for income tax in the State. If levied, it'll be after 35 years, Alaska records income tax. Alaska is highly dependent on oil revenues. The steep fall in oil price is impacting its revenues in a negative way. The current revenues can meet only 40 percent of government expenses.

Dec 11, 2015 1:16 AM EST

Dow Chemical and DuPont are in the late-stage talks for $120B merger

Dow Chemical and DuPont are in advanced talks for a merger. The companies could announce the $120 billion deal in the next few days.

Dec 11, 2015 1:14 AM EST

In Australia, banks disrupt Apple with mobile payments power

The US technology giant Apple Inc is struggling to forge an alliance with Australian banks to spread its mobile payment system. Australian banks have already their own apps and supporting technology platform for the contactless payment system. At this juncture, Apple Inc is finding it difficult to make the partnership with Australian banks. After launching mobile payment service in Australia last month, Apple Inc is planning to roll out in China soon.

Dec 11, 2015 1:09 AM EST