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US home sales rise in August, Q3 forecasts in tact

New home sales were up in August, while business investment eased in August. The latest data for August indicates that US economy is not disturbed much with ongoing slugishness in the global economy. It's estimated that earlier forecast on US GDP growth rate of 1.4 percent is possible for the third quarter.

Sep 27, 2015 8:53 PM EDT

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Second Interest Rate cut for Norway

Norway's Central Bank, the Norges Bank announced that it is cutting the country's interest rate to o.75 percent today. This is the second rate cut for this year and the third in 10 months. The rate cut signals a weakening economy in the country's key sector.

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Final meeting for Trans-Pacific Partnership (TPP) will be held next week

Washington is planning to wrap up the TPP agreement in a meeting in Atlanta next week. Few issues will be resolved during the meeting such as for automotive industry, dairy products, and biological drugs.

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Alexis Tsipras retains economic government to battle crisis

Greek Prime Minister Alexis Tsipras appoints the same people for his new economic team that would handle the biggest modern world crisis.

Instagram reached 400 million users with 80 million photos shared every day

Instagram had reached 400 million users with 80 million shared photos a day. The Facebook-owned company announced it on Tuesday.

Sep 24, 2015 8:21 AM EDT

5.6 Million U.S Federal Officers' Fingerprints were Stolen

OPM changes its statement saying that some 5.6 million fingerprints were stolen by hackers when they attack the agency last spring instead of 1.1 million. The stolen data involved U.S government officials including from Defense Department.

Sep 24, 2015 8:12 AM EDT

Winterkorn resigns as Volkswagen CEO

Martin Winterkorn's contract as VW CEO extends until 2018 as agreed upon by the VW's supervisory board despite the controversial emissions scandal. This Friday was the scheduled formal approval.

Sep 24, 2015 7:41 AM EDT

Volkswagen CEO steps down; US may slap $18B penalty

The latest scandal of Volkswagen in rigging emission norms results is rocking the Germany business and political factors. Volkswagen has taken up crisis management measures and its CEO Martin resigned and many more to follow the suit. The US environment protection agency may slap a hefty fine of $18bn on Volkswagen if its role in manipulating emission results is proved.

Sep 24, 2015 3:18 AM EDT

Boeing factory will soon land in China

A new Boeing factory will be opened soon in Zhoushan, China for its 737 jetliners. The submitted proposal still needs approval of the State Council as well as the China's cabinet to have the country do the painting of airline company's top-grossing jetliners.

Sep 24, 2015 2:38 AM EDT

Leonardo DiCaprio fights global warming by divesting from fossil fuel industries

Leonardo DiCaprio along with 2,000 other individuals and 400 institutions pledged to divest their fossil fuel holdings in a move to reduce climate change.

Sep 24, 2015 2:20 AM EDT

Swiss Re to buy Guardian Financial Services for $2.45B

Swiss Re's Admin Re is buying the UK-based Guardian Financial Services for $2.45billion. The acquisition deal is expected to be complete by early next year. Admin Re will get 900,000 annuity and over four million policies in the UK after the acquisition.

Sep 24, 2015 2:16 AM EDT

Volkswagen scandal is gaining steam

Volkswagen Group is the biggest car manufacturer in Germany with three brand under its management including Audi, Porsche and Lamborghini. The latest scandal might be costly for the company but its effect will not be everlasting.

Sep 24, 2015 2:11 AM EDT

Apple’s API for ad blockers is a threat to Google and web publishers

Apple had made it easy for developers to create ad blockers. Reports say this is a threat to Google and web publishers.

Sep 24, 2015 2:03 AM EDT

China's manufacturing PMI at 78-month low

The preliminary Caixin China manufacturing purchasing managers' index (PMI) dropped to 47 for September indicating further alarming situation in the factory output. The PMI was 47.3 in August. Any level below 50 indicates deceleration in the economy activity.

Sep 23, 2015 10:26 PM EDT

China joins US in fight against cyber crime

President Xi Jinping said in his closing speech in Seattle that China is ready to set up a joint force to combat cyber crimes. He gave this assurance to tech company executives attending a closed-door meeting.

Sep 23, 2015 10:21 PM EDT

EU's proposal on refugee quota evokes mixed reaction

Airming to resolve the refugee crisis for European nations, EU has prepared a proposal with quota sharing on 120,000 immigrants among 28 members. Germany and other major nations supported the proposal, while some countries voted against it. However, EU has stated that it'll go ahead with the proposal.

Sep 23, 2015 9:03 AM EDT