The price of the oil dropped once again to $30 per barrel after Iran delivered its first shipment to Europe. This fall is seen as a boon for some nations while it is considered as a disaster for others.
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Indian market crash channeling funds into MFs
The recent market crash in Indian stock markets is driving funds from equities to mutual funds (MFs). As a result, fixed income mutual funds are witnessing increased inflows of funds amid ongoing bear market.
The Reason Behind Google's $1 Billion Investment in SpaceX Last Year
Google made a big investment last year to SpaceX, as a mean to help the company build space-based internet communication system. Meanwhile, SpaceX is scheduled to launched by February 24.
Whole Foods to trim costs, shifting biz focus
Whole Foods Market Inc is in the process of cost reduction. To promote sales volume, it's offering discounts and building relations stronger with suppliers. Whole Foods is expecting a savings of $300 million annually.
Japan's GDP shrinks in the fourth quarter
The economy of Japan shrank during the fourth quarter of 2015 as a result of weak export and demand. The shrinking population also added to the economic slowdown.
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London is the core economic hub of Europe. Leaving out from the European Union will force the businesses to be pulled out from the UK, argue some analysts. However, HSBC Board’s decision to retain headquarters in London appears to be the best answer to the believers.
Switzerland receives about 1000 emergency calls from hikers every year. In order to create a technology that could give a faster response and search more effectively for lost or injured hikers, a group of researchers developed a software with a combination of Artificial Intelligence. The software enable drones to autonomously navigate forest areas and direct themselves to hiking trails.
Aircraft manufacturers are expecting the market in South East Asia to grow. Ahead of Singapore Air Show this week, competition between low-cost carriers in the region also become the concern.
Import of palm oil by India bounced after its first drop in a year. The growing demand coupled with harvest failure boosted the purchase of palm oil from overseas suppliers.
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
Green Party has accused IKEA for dodging tax up to €1 billion ($1.13 billion/ £776 million). MEP has taken the allegation into cognizance and pledged for studying the report and related findings. However, the Swedish furniture giant has rejected the tax evasion allegations and claims for no wrongdoings.
The center of life-saving drug price hike controversy, Martin Shkreli tried to made himself in the news again. He claimed that he was scammed for $15 million for the new album of Kanye West "Life of Pablo."
In a plan to boost sales, Tesla increased the price of its after sales service. The company also prevent Tesla owners to transfer their extended warranty when reselling their cars.
AirAsia India’s head Mittu Chandilya is confirmed to soon leave the airline. The decision emerged after he previously expressed disfavour on the micro-management practiced by the airline’s parent company in Malaysia. His successor is yet to be decided, but it’s likely to be an executive from the parent airline.
