Lumber Liquidators won a civil case, which had alleged the company for violating a state law in California that urges companies to report warnings regarding the possible harmful substances in their products.
China
Philips to invest in healthcare tech start-ups in India
Philips is seeking to invest in healthcare technology start-ups in India, following other Fortune 500 firms in the world in empowering India's steadily growing start-up economy.
Asian markets trade lower as US risk-off sentiment kicks in
Tracking sell-off on Wall Street, Asian markets turned weaker. Renewed growth concerns and effectiveness of central bank policy have worsened the investor sentiment.
Competition Heats Up In China Between Uber And Didi Which Raised Funding Target to Over $1.5 Billion
Didi's target for funding has raised to $1.5 billion to compete with Uber in China. Didi operates in 400 cities and is expected to accelerate to about 10 million at the end of the year.
Capital outflows to push emerging markets into crisis, cautions IMF
International Monetary Fund (IMF) has warned that slower growth rates among emerging markets are causing cash outflows and could cause another bout of crisis. Narrowing differential in growth prospects between advanced and emerging economies may add to the crisis situation again.
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Xiaomi’s partnership with India’s Hungama will make it easier, more accessible and more affordable for locals to access the company’s service that will soon be integrated together with themes and ringtones.
China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.
A unit of China's Guosen Securities in Hong Kong have defaulted on a dim sum bond. However, analysts doubted the default as the brokerage is in a strong cash balance.
The world's second largest economy showed positive signs as resurgent sales in the real estate sector boosted growth during March. However, China recorded drop in exports and freight segments.
Investments from the US surpassed China ever since Narendra Modi became Prime Minister of India in May 2014. The encouraging economy growth is the prime reason for robust US investments in India.
China Rapid Finance has been acknowledged as the founder member of NIFA. The recognition will enable CRF to work for publishing rules and regulations in developing self-disciplined online lending marketplace in China. CRF expects the official release of such rules and regulations will exert positive impact and eventually confirm the industrial development .
To tackle volatility in the US banking market, regulators are enacting new laws time to time directing to absorb new technologies. Adoption of automated technologies coupled with aggression by fintech startups. A recent Citigroup study predicts that US banking sector may witness 30% job cutts by 2025.
Online shopping is made easy with the advent of smartphones, creating a new era for online sellers. Online marketing sector has gained from many e-commerce apps over the recent period.
Gobi Partners along with Malaysia Venture Capital has created a $14.5 million investment pool to focus on tech start-ups in the Southeast Asian region.
