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.
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.
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
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‘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
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
The US Army retires its first ever drone
After 2 decades of service, the U.S. Army's first drone the Hunter UAS has now started its well-deserved retirement. The Army replaces the Hunter with the General Atomics Grey Eagle UAS.
Dec 30, 2015 8:36 PM EST
Resolution on Comfort Women May Benefit Japan, Korea and the Region
Resolution between South Korea and Japan regarding comfort women last Monday may benefit trade and security in the region.
Dec 30, 2015 7:22 PM EST
WHO declares Guinea free of Ebola transmissions
WHO has declared that Guinea was free of Ebola transmission, after two years of Ebola outbreak in the country. The disease killed more than 11,000 people across 10 countries including Guinea.
Dec 30, 2015 3:05 AM EST
Energy investors hope forecasts by Saudi, Iran to go wrong
Energy investors and analysts feel that the price forecasts of Saudi Arabia and Iran are wrong. The realistic oil price may be $20 a barrel in short term if present oversupply persists. Saudi Arabia sees oil price at $29 a barrel and Iran at $40 in the near term. Saudi Arabia has slashed down its budget spending for 2016.
Dec 29, 2015 11:47 PM EST
Japanese steel output to remain flat in 2016, exports to soften
The steel inventories rose despite production cuts. The weakening demand is causing oversupply situation. The steel production levels may remain steady next year also. The iron and steel companies are suffering from decline in demand and rising inventories.
Dec 29, 2015 11:30 PM EST
Trading suspension in Shkreli's drug company
Martin Shkreli episode is witnessing a series of developments after his arrest. California University has canceled its coordination plan on the drug trial. The stock trading was also suspended. The stock price rose from below $1 a share to about $40 during the short span of Shkreli's tenure.
Dec 29, 2015 9:24 AM EST
China Telecom boss Chang Xiaobing under scrutiny
China Telecom's Chief Executive Chang Xiaobing is the latest catch in Chinese government's anti-graft drive. Xiaobing is facing probe over his role in a violation of discipline. It's learnt that more than 70 top officials from state-run firms are facing investigation over anti-corruption charges. After cracking down on aviation and automobile companies, Chinese anti-corruption regulator is probing into telecom sector.
Dec 29, 2015 9:16 AM EST
Oil recovery in 2016 will strengthen Loonie
Analysts predict that oil prices may recover in 2016. This will also strengthen Canadian dollar Loonie. The commodity currency Loonie fell 20 percent against the US dollar throughout 2015.
Dec 29, 2015 9:14 AM EST
Evergrande buys a series of new projects from New World China
Evergrande Real Estate Group Ltd. will buy $3.2 billion worth of projects from the Hong Kong billionaire Cheng Yu-Tung’s family-controlled companies.
Dec 29, 2015 9:12 AM EST
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