Investors sue KaloBios Pharmaceuticals Inc. to return $5.4 million of their investment. The investors were brought in by Martin Shkreli. KaloBios Pharmaceuticals Inc. filed for bankruptcy in late December.
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Amazon.com to Acquire Colis Privé, Competing with FedEx, DHL and UPS
Amazon.com expand its business to delivery service. The company will fully acquire French delivery company, Colis Privé. This acquisition will put Amazon head-to-head with FedEx, DHL and UPS.
Update of Greece Economic Crisis in 2016
Greece was the highlight in 2015 economy when the country's economic crisis continued to a political unrest. The country faces 2016 with uncertainty after disagreement with its creditors.
Ways to Improve China's Slowing Economy
China is undergoing a range of economic difficulties that has slowed the entire country's economy. From fixing the falling currency value to getting more people to spend, here are some possible solutions.
Deutsche Bank Agreed to Purchase Stratford Property to House FCA for £370m
Financial Conduct Authority (FCA) headquarters, the watchdog of U.K financial market, will move to the brand new building in International Quarter, Stratford. The 515,000 square feet building is purchased by Deustche Bank asset-management for £370m.
Latest News
Economists express concerns over the repetition of property bubble in the US market as it's overvalued. Analysts estimate that the real estate is overvalued in the range of 25 percent to 60 percent considering the average price and average income in a particular area. However, the US property market is attracting more foreign investment and it's forecast to be higher than in 2015.
China's slowdown has caused negative effects in businesses and countries around the world that financially depend on a large chunk of business with the Asian country. China must transition into a consumer drive economy in order to grow in the future, but the steps necessary to do so are complicating their international partnerships.
Apple has revealed a glitch in its News app causing the company with lesser number of visitors count compared to the reality. However, Apple is reportedly to be working on the problem and it will be solved soon.
Former Facebook exec Sean Parker gave $500,000 to a newly formed group that aims to legalize recreational marijuana use in California.
Mercedes-Benz outsells Audi in global market, thanks to the strong sales in China. The race for the top rank for luxury automaker sales heats up as Mercedes-Benz overtakes Audi in global sales last year, thanks to strong China sales.
After the cancellation of short-term credit facility from Citigroup, South African Airways is in the process of getting guarantee support from the government. South African Airways has had seven CEOs during the past three years. The National Treasury is exploring ways to restore financial support to the airline and will restructure the board as well.
South Africa plans to import 5 million tonnes of white corn from South America as the worst drought since 1992 continue to ravage the area, according to Grain SA, the biggest producers association in the country.
The shopping volume during the US holiday season registered an overall growth of 2.4 percent during 31 October 2015 to 4 January 2016. However, physical sales at malls were not equally rosy as online sales rose 4.6 percent. It's estimated that restaurants and travel segments recorded good business this holiday season as US consumers prefer to spend more.
Chinese phonemaker Xiaomi introduces its new Redmi 3 on Monday. With its full-metal body, the Redmi 3 is a beautiful phone with unexpectedly lower price.
