MMB patented gene modified seeds are capable of secreting anti pest protein. However, the seed giant is accused of charging higher royalty fees exerting undue dominance in the seed market. Upon complaints from respective trade body, the Indian agriculture ministry has imposed ceiling for royalties on gene modified cotton seeds.
Industry
South Africa's Manufacturing and Mining Output Contract, Slow Down Economy Even More
South Africa's output in the manufacturing and mining sector might not be a good sign to start the year right. More mining sites stopped their operations creating illegal mining. The president should do something as investors are skeptical on how he handles the country's economic situation.
China’s State Backed CRR Corp. Unit Bags $1.3 Billion Chicago Rail Car Contract
Chicago Transport Authority has planned to replace 2,600 age old rail cars with 846 units of 7000-Series cars. CTA has awarded the $1.3 billion deal, the largest purchase in its history to a unit of CRR Corp. on Wednesday. Chinese companies have been awarded the second major deal following $567 million contract to supply trains for Boston’s subway system.
Fiat Chrysler gears up to help dealers trim costs
Fiat Chrysler Automobiles (FCA) has prepared a blueprint on business growth for its Fiat dealers. The new plan enables Fiat dealers to trim operational costs and restore trust in the brand. FCA has also advised dealers to close down unviable stand-alone dealership outlets.
Lab Tests Show That Jessica Alba's Honest Detergent Contains a Significant Amount of SLS Chemicals It Claimed to Never Use
Jessica Alba’s Honest Company is facing allegations of using harsh chemicals it claimed to never use. Two test labs initiated by the Wall Street Journal showed a significant amount of the chemical SLS, but the company strongly denied using the chemical in manufacturing.
Latest News
Venture capitalization has appeared as an investment industry rival for banks and insurances. The new trend of raising capital has become much more popular for fintech startups during 2015 while raising $13.8 billion in funding. The raised fund appears just double compared to that in previous year and expected to grow significantly also in 2016.
Kossan Rubber Industries is preparing for a share buyback program following a bounce in the Malaysian ringgit that sent the shares of the company to its lower level from a record high in December.
A sample test conducted by Uttar Pradesh food safety officials found that Nestle’s Maggi noodles contain more percentage of ash than permitted by the regulations. However, the company has denied the accusation, stating that the claim is based on the wrong standard.
Diagio Plc, British liquor major, says it paid $40 million to trouble-ridden Indian businessman Vijay Mallya. This comes close on the heels of an order by Debt Recovery Tribunal (DRT) not to pay Mallya any amount.
McDonald's has launched its all-day breakfast menu and called it "All Day Breakfast: Bigger Menu" where customers can order any or all of the following: hash browns, biscuits, McGriddles and McMuffins. The offer has been tested in Tulsa, OK and North Carolina Triad area boosting the restaurant's stocks 0.70% to $119.25.
NEXON Co will purchase the entire outstanding shares from Big Huge Games. The company is moving forward with an aim of establishing a dominant presence in the gaming industry by creating partnerships with leading game developers.
Kenya Airlines has recorded an annual loss of $690 million during 2015. Following the ever largest corporate debacle in Kenyan history, the struggling national carrier has revealed bailout plan for $690 million. The plan needs to get approval in the board meeting scheduled to take place on Thursday.
Dell India announced to launch the world's smallest laptop in the business-class, the Dell Latitude 13 (7370). The product offers new advanced technologies for business users who travels often, with improved battery performance and security features.
China's stocks fell for a second session, but managed to pare early losses on buying support from state-backed institutions. However, the buying support from state-backed funds renewed concerns that inflation is rising.
