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’.
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Indian app-makers woo VC funding as smartphone sales soar
Indian smart phone market is witnessing robust growth rate and attracting foreign venture capitalists (VCs). The home-grown apps are creating more demand for venture capital. India is second largest market for smartphones after China.
Africa's largest trading block to get more funds
Africa's largest trading block is attracting attention of global investors and businessmen. The recent 'Africa 2016' investment forum held in Egypt had participation of over 1,500 businessmen and government representatives. Foreign investors have called for more reforms and policy changes among African nations.
Public spending and inflation, key factors in new budget for South Africa
The new budget for South Africa may witness a major focus on government spending, sluggish global economy and inflation. The debt component is also increasing to about 50 percent of GDP. Global rating agencies have downgraded South Africa's sovereign credit rating.
Deutsche Borse in negotiation with London Stock Exchange for potential Merger
Deutsche Borse confirmed that it is in talks with London Stock Exchange regarding a potential merger. The parties remain hopeful that a possible merger transaction will take place.
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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.
Williams Cos has decided to offload its Canadian operations for $1 billion. It is hoping to put it on the block in next week. In fact, it has already appointed two investment banks to oversee the sale process.
G20 finance minister meeting will be held starting this Friday in Shanghai. Ahead of the meeting, Taro Aso, Japan Finance Minister said that he expect G20 to discuss ways to move global economy.
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.
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.
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).
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.
