Tesla announced parts shortage as the factor that caused the company to miss its initial sales target for the first quarter of 2016. The company, however, retains its guideline for the full year as it already solved the root of the problem accordingly.
Archives
Credit Suisse Must Take Drastic Measure After $1 Billion Write Down
The Swiss bank which posted first full-year loss last year must take a drastic measure. It has to make another retreat in investment banking.
TerraForm Sued Parent Company SunEdison for Diverting $231 Million Projects Money to Its Own Balance Sheet
SunEdison is facing another lawsuit, this time from its subsidiary TerraForm. TerraForm accused its parent company for misallocating cash for its projects in India to SunEdison’s own balance sheet.
Bookings for US factory goods down 1.7% in February
The demand for the US industrial products declined in February, signalling an additional slowdown in the country's economic growth. Fresh orders for the US industrial products dropped 1.7% in February, compared to an increase of 1.2% in January.
Starbucks Biggest Coffee Shop Soon to Rise in Manhattan
Starbucks is about to open its biggest coffee restaurant in 2018 and will be known as Starbucks Reserve Roastery and Tasting Room which will be housed by the 170,000 square foot building developed by Aurora Capital Associates and Vornado Realty Trust. It would be the biggest Starbucks coffee shop in the world where customers also get educated about the process how coffees are roasted and brewed from all over the world.
Latest News
The Reserve Bank of India (RBI), India's central bank, has reduced repo rate by 25 basis points to 6.50 percent, indicating an over five-year low. After the rate cut, home loans will be cheaper by half a percentage.
Alaska Air announced to acquire Virgin America on Monday. The acquisition will be another consolidation in American airline industry.
The Panama Papers documents leak suggest that Ukrainian President Petro Poroshenko might be using an offshore company to evade tax. However, the president has denied such accusations, saying that he has not been managing the assets since he became president in 2014.
Following a deal with UAW, the union members are enjoying jobs in Ford’s Wayne plant sacrificing small-car plant in Mexico. Applying the loophole in negotiation terms, Ford announces another $1.6 billion production plant in Mexico in addition to previously declared $2.5 billion plant. Ford’s tricky stance has irked the UAW and the union members have demonstrated protest against the automaker’s decision.
Ntel is seeking $1 billion loan investment for its 4G mobile broadband expansion for 2020 to take advantage of the increasing number of smartphone users in Africa. It will start its 4G LTE service to Abuja and Lagos by April 8 competing with other Nigerian four company internet and broadband providers.
SunEdison has been passing through acute cash crunch while embattling with lawsuits. Though the lawsuits have been filed recently and remain pending for adjudication, the variety of claimants has attracted analysts’ attention. However, the event has been analyzed as instance of tilting confidence among the creditors as well as investors.
Nordea Bank of Sweden and DNB ASA of Norway, largest lenders of the respective countries, have been accused of aiding in tax dodging by the leaked ‘Panama Papers’. DSAs of the respective countries have summoned them to explain their roles over the allegations. However, both the banks have denied any wrongdoing while reiterating commitments for upholding laws.
The US Justice Department considers any credible allegation for violation of Federal Laws under its geographical territory very seriously. The department has been conducting its war against corruption through seizing assets related to illicit activities. Following leak of ‘Panama Papers’, it has been reviewing documents related to tax dodging through offshore accounts.
Following the leak of documents related to tax dodging by a Panamanian Firm, governments around the globe has initiated probe in this regard. Tax payers are righteous to know the state actions in unearthing the probable tax abating which has prompted the authorities to investigate. However, the leaked documents have provided an opportunity to earn penalty from the probable tax dodgers.
