China has unveiled a series of new initiatives to push its economy growth rate. The government is keen on meeting the increasing demand in small and medium-sized homes. Another set of new rules for accelerating reforms at state-owned enterprises will be announced soon.
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Elon Musk’s Hyperloop Project Getting Implemented
Elon Musk has shared a brainchild for travelling from one city to another with extraordinary speed through a hyperloop in 2013. The plan is now getting implemented at Quay Valley in California. If the project becomes commercially viable, people will get an opportunity to travel at 800 MPH subject to getting approval from the government authorities.
Bank of England has many choices to boost Britain's economy according to Governor Mark Carney
Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.
The Koch Brothers Raises $10 Million Lobbying Fund A Year For Withdrawal Of Subsidies in EV
Electric Vehicle (EV) purchasers enjoy different sorts of benefits from the federal and state governments. Irked with the subsidies, the Koch Brothers have dedicated a fund for lobbying in pulling back the subsidies for EVs. Tesla Motors CEO, Elon Musk has however, protested the news ignoring the fact that his comparison may be treated as ‘Apple to Apple’ or ‘Apple to Orange’.
EEF Warns that Brexit Will Lead to Uncertainty and Risk
The association of British manufacturers warned that Brexit will bring the country to uncertainty and risk. Meanwhile, poundsterling continue to be under pressure as the debate over U.K. to exit EU continues.
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Reserve Bank of India (RBI) is seeking an approval from Union Finance Ministry for easing capital restrictions on Asset Reconstruction Companies (ARCs). RBI has recommended Union Finance Ministry to raise the cap on sponsor's holding in asset reconstruction companies.
Etsy's shares jumped nearly 10% after the announcement that the online e-commerce site narrowed its net loss in the fourth quarter of 2015. The company expects GMS growth rate to be in the range of 13% to 17% for the three-year period from 2016 - 2018.
San Fransisco-based Kabam will lay off its workforce. The mobile game studio will focus on its most popular multiplayer games such as Marvel Contest of Champions and Star Wars: Uprising.
Fortescue Metals reported a 4% decline in its first six-month net profit owing mainly to the fall in commodity prices. The company has declared an interim dividend of A$0.03 (fully franked).
Based on a report from defense and aerospace consulting firm there was a huge increase for investment in space travel during 2015. Space startup investment in last year were accounted two-third of the 15 years in total.
Fenox Venture Capital has been ordered by the Department of Labour to pay over $300,000 as back wages for workers, wrongfully named as interns. The company promised to avoid such practices in the future.
Global stocks hike starting Monday. Investors are anticipating the G20 meeting which to be held in Shanghai on Friday.
Asian shares fell back from a seven-week high on Tuesday as oil prices fell more than 2 percent. The sudden drop happened after the Asia-Pacific indices rose to its highest level since the beginning of the year, after seeing the rise in oil prices before reversing back.
The US government has appeared in a row with Apple centering unlocking of encrypted data of an iPhone allegedly used by a terrorist. Apple opposes the demand citing creation of backdoors for the law enforcers, may lead to a potential abuse. Supporting Apple stand, Mark Zuckerberg has pledged playing due rolls in its fight while addressing in the Mobile World Congress on Monday.
