PROFEPA has fined Volkswagen México with $8.9 million for lacking two NOM environment compliance certificates. The 45,494 imported vehicles under penalty include Volkswagen's 2016 model vehicles. However, the fine is separate from the ongoing probe on defeat device installation on diesel powered vehicles.
Industry
Iluka ceases production at Jacinth-Ambrosia project; to trim 33 jobs
Iluka Resources said it will cease production in zircon operation at Jacinth-Ambrosia project in South Australia following fall in zircon prices. The company's decision will positively impact the global market.
National Australia Bank posts 8% increase in Q1 cash profit
National Australia Bank posted an 8% increase in its quarterly cash profit helped by robust results in wealth sector and rise in lending volumes.
27th Large Diamond Mined in Angola Weighing 404 Carats, Worth $20 Million, Increasing The Company Share
The 27th largest diamond in the world was just discovered in Angola. The spectacular diamond has been estimated to worth $20 million Australia or $14.3 million USD. The diamond was found under an Australian company in partnership with some Angola's companies.
Foreign investors take US small biz route
The market volatility, rising dollar and sluggish global economy are forcing foreign investors towards the US small business credit market for growth opportunities. Foreign investors generally prefer to invest in US treasury bonds. But the prevailing global conditions are propelling them to park their funds in small business credit market.
Latest News
A former Managing Director of CVC Capital Partners (US) Inc has moved court against the private equity (PE) firm over gender-discrimination. Lisa Lee, who complained against the company, has alleged that the firm was favoring male employees in more of unfair way.She criticized the company's measures in promoting less qualified male co-workers over her.
Apple is sponsoring one of fashion’s biggest and most prestigious event, the Met Gala. This year’s exhibition will feature works that highlight the dynamics of human craftsmanship and technology in creating high-end fashion. Apple will also be involved in the exhibition’s music department using its Apple Music.
The Philippines' largest company, San Miguel Corporation will sell bond to small investors. The company is aiming to cut dollar-denominated debt and protect its earnings.
R-Square Macro Management is increasing its exposure to Russian currency Ruble. It's hoping on rebound in Ruble as it fell 37 percent from the recent high in 2015. Some asset managers scaled back their wagers on Ruble amid high volatility in the Russian currency.
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.
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.
The Southeast Asian air market has been occupied mostly by the budget carriers of this region. Ignoring the odd, Philippine Airlines has been rumored to announce for order for new planes. The carrier has designed a roadmap to elevate its status to five stars through the rumored expansion.
Alphabet Inc., the parent company of Google will expand its Google X Car project. The company announced to hire more expert in manufacturing and engineering to bring its self-driving car into the market.
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.
