India's budget allocation for the defense sector fell for the first time in the latest Union Budget-2016. India had been increasing military budget since its war with China 1962. It was notably down to 1.65 percent from 1.74 percent in previous budget.
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Valeant Pharmaceuticals Shares Plunges After SEC Investigation
Canadian pharmaceutical company shares dropped 18% on Monday, as the company admitted being under investigation by U.S. Securities and Exchange Commission.
Converse Revealed New Concepts and Approach in Chuck II Reflective Print Collection
Converse is adopting a new approach to update its Chuck Taylor shoes. The shoemaker revealed its newest Chuck II Reflective Print collection with an improvement in functionality and visual features to offer users a brand-new style and experience.
Marathon Oil plans to sell shares through public offering
Marathon Oil announced its intention to sell 135 million of common shares through a public offering. The ongoing slump in the global oil industry has led many oil firms to undertake the cost-cutting strategy to keep hold of their cash level.
NASA, Lockheed Martin Collaborate For Quieter 'X-Plane' Project Worth $20 Million
NASA is to built quieter supersonic jet planes that will one day replace passenger jet planes. The $20 million contract was given to Lockheed Martin which will collaborate with NASA for reviving supersonic aviation feasibility studies.
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China has decided to layoff millions of workers from 'zombie enterprises' in the next two to three years. For relocating retrenched workers, the government will spend Yuan 100 billion ($15.27 billion). China's economy is suffering from industrial overcapacity and pollution levels.
Israel is witnessing an increasing number of new venture capital (VC) firms coming up. The country registered an inflow of $665 million VC funding during the first two months of the year. Unfazed with the recent market crash, the funds inflows continue for Israel startups.
China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.
India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
FBI chief, James B. Comey, has been reported to personally challenge Tim Cook stance. Tim Cook has been considering the battle as fight to secure privacy. Americans are historically sensitive towards government’s intervention over individual privacy. But the cause cherished by the common Americans is believed to prevail in the long run.
GE have been trying attract tech workers since last year. In its new Oscars ad, GE mock the startups and proclaim itself as a tech company and an industrial company.
The technology start-ups in India are looking for investments from Chinese companies like Cheetah Mobile. The booming Indian technology sector is attracting many tech companies in China to invest in these Indian techs start-up firms.
Bikes maker Palo Alto Bicycles, which Silicon Valley startups have often contacted to purchase high-end custom bikes for their employees, have confirmed a decline in sales. The declining sales are likely to be an indicator that startups are being more careful in spending money as investors got tighter in demanding profitability.
Merkel government has taken a bold step supporting the fleeing refugees. Recently, the German Chancellor has requested the other European countries to reopen their borders to ease the refugee pressure on Greece. Greece has requested for emergency financial assistance from other European countries.
