Chennai floods leave everyone in deep water
The recent floods devastated the living conditions for people in Chennai and its surrounding districts. The industrial and business hubs have been affected resulting in trillions of crores of rupees loss. Insurance companies have been flooded with claims indicating a decade high volume.
Dec 10, 2015 3:09 AM EST
Deutsche Bank Japan to pay penalty again for information leak
Deutsche Bank Japan branch is set to face a regulatory penalty once again; this time for leaking corporate information before an earnings release.
Valeant weighs to sell contact lens maker Paragon amid FTC investigations
Valeant is considering to sell its Paragon as the FTC is investigating the drug maker's monopoly in the gas permeable contact lens market. Valeant has been hiking prices the Paragon's products after the company acquired the contact lens manufacturer earlier this year.
Gas powered cars to be banned in eight US states and five countries by 2050
Eight U.S. states and five countries across the world announced the commitment to allow the automakers to sell only zero emissions vehicles by 2050. They will ban gas-powered vehicles to cut global vehicle emissions by 40 percent.
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ISIS generating $80 million revenues a month
ISIS is believed to have been generating $80 million revenues a month from oil production and smuggling in addition tother finding options. ISIS is also taxing people in areas it controls. The oil income accounts for over 40 percent of the total revenues for ISIS, which is generating income from six funding channels.
Dec 10, 2015 2:52 AM EST
US billionaire Douglas Tompkins dies in kayak accident in Chile
A wealthy U.S. businessman, Douglas Tompkins, 72, dies in a kayaking accident in southern Chile. He suffered through acute hypothermia by falling into near-freeze water and died shortly after taken to a hospital. He was a co-founder of the North Face outdoor company and an environment activist.
Dec 10, 2015 2:41 AM EST
China's capital outflows tripling in November
China has been suffering from the increasing capital outflows, which tripled in November to $113biillion in November from $37 billion in October. The concerns about further depreciation in Yuan were the prime reasons behind the surge in capital outflows. The weaker Yuan will add competitiveness to exports, opine some economists.
Dec 10, 2015 1:57 AM EST
Jakarta greenlights Uber operations
Uber has received approval from Jakarta government to operate legally in the Indonesian capital, as long as it meets tax rules and other requirements from the government.
Dec 10, 2015 1:52 AM EST
Norovirus outbreak in Seattle sickens 200 people
About 200 people have become infected by norovirus after attended a catered event at a downtown Seattle's Russell Investments Center. The health officials have closed all food vendors in the Seattle office building.
Dec 10, 2015 1:48 AM EST
Airbnb confirms $1.5 billion fund raising round
The US-based home-sharing startup Airbnb has confirmed that it closed $1.5 billion fund-raising round in a filing to SEC. The latest round puts Airbnb's valuation at $25 billion. The home sharing services provider boosted its forecast for revenues to $900 million for 2015. Airbnb is planning to expand globally.
Dec 10, 2015 1:35 AM EST
South Africa's inflation up at 4.8% in November
South Africa's inflation rate was 4.8 percent in November from 4.7 percent in October. The inflation rate indicated its highest since July. The currency Rand continuous fall against the US dollar is further adding to inflation. South African economy narrowly missed the second recession in six years.
Dec 10, 2015 1:31 AM EST
Exxon refuses to share U.S. Tax information, hindering progress on energy transparency, says watchdog chief
Extractive Industries Transparency Initiative (EITI) head, Clare Short, said Exxon's refusal to share U.S. Tax information is hindering progress on the push for transparency in the energy business.
Dec 09, 2015 10:58 PM EST
Men have to cultivate a culture that encourage women in workplace, says Dell's CMO
Dell CMO Karen Quintos said that in order to remove gender bias in the work place, men must cultivate a culture that encourages women to think they can succeed
Dec 09, 2015 10:53 PM EST
Conflict against Russia could lead to $9 billion loss for Turkey
Due to the conflicts with Russia, Turkey's economy is at risk of losing $9 billion. Turkey's economy is at risk of losing $9 billion as Russia imposes sanctions involving food imports and energy supplies.
Dec 09, 2015 10:41 PM EST
Aging population a drag on US labor force growth
With the number of ageing Americans increasing, the employment growth rate will be under pressure in the 2014-2024 decade, according to the US Labor Department. The US economy may generate 9.8 million jobs during the decade, but the work-age population growth is slowing down.
Dec 09, 2015 10:37 PM EST
Kyocera, Century Tokyo completes Japanese 10MW solar power plant
Multinational electronics company Kyocera Corp. and Century Tokyo Leasing Corp. recently finished a 9.9-megawatt photovoltaic (PV) solar power plant in the Hyogo Prefecture, Japan.
Dec 09, 2015 10:19 PM EST
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