Ratan Tata has made investment in a new venture Moglix, an e-commerce company owned by Rahul Garg. The B2B procurement company deals with like MRO's, fasteners and industrial electrical with manufacturers across India, China and many other Asian countries
Industry
Daimler recalls 840,000 vehicles in US over Takata airbag issue
German auto giant Daimler is recalling 840,000 vehicles in the US after the Takata's airbag inflators issue came into light. The recall costs and repairing expenses will result in cash outflow of €340 million ($383 million) for Daimler. It's estimated that so far 14 automobile firms recalled about 24 million vehicles in the US.
Australia Is Moving Forward to Legalize Medicinal Marijuana, Introducing Nationwide Bill
Some states in Australia already legalized medicinal marijuana regionally, but the new bill will allow marijuana to be cultivated and consumed for medical purposes across the country. The bill is highly likely to become a law because it has received huge supports from the authorities and citizens.
Asian markets to brew higher earnings for Carlsberg
Danish brewer Carlsberg A/S is hoping for higher earnings supported by Asian markets. Though eased marginally, the fourth quarter earnings were above analysts' forecasts. The world's fourth biggest brewer Carlsberg is slashing jobs and closing down breweries.
Sonos Officially Announced Adding Apple Music Streaming Service to Its System
After launching the public beta version in December, owners of Sonos system will now be able to enjoy Apple music service. The features will be available starting Wednesday morning.
Latest News
The US economy woes are not due to oil price drop, opine economists, who rule out the common view of financial media, government officials and academic that attribute the oil price drop to the American economic woes. The oil price fall will be detrimental to oil producing nations, but it's a boon to the rest of the economy.
The video messaging application stroke a deal with Viacom on Tusday. Snapchat will be able to hit the mainstream as Viacom will sell its advertising, and Viacom is able to enter the Internet market.
As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.
For seven sessions in a row, European stocks suffered losses amid growing concerns about the global economy growth. The lower oil prices, disappointing quarterly results and sluggish global markets are also taking a toll on European stocks. Indicating the alarming situation in the European financial sector, the cost insuring debt against default reached its peak since 2013.
The International Energy Agency (IEA) has warned that short-term risks downside have increased as oil glut is expected to be worse than anticipated. With Iran resuming oil production, the sluggish global demand is adding further to the woes. OPEC's continuation of oil production is keeping pressure on oil prices.
HP's business started to tatter since inception of Meg Whitman in 2011. In 2013, Bloomberg has named her as one of the ‘Most Underachieving CEO’ in the corporate world. To hold HP in its business path, she has spit HP into two independent entities which is believed to reduce her pay package by 13% compared to the previous year.
The offer is part of the company's strategy to gain income amid the increasing use of ad-blocking softwares. Websites had been losing significant advertisement revenues and develop other alternatives to bring ad-free experience while keeping the business going. The offer will start next week for $3.99 per month or $1 weekly.
The FAA issued an official warning to airlines that lithium-ion batteries powering most mobile devices including smartphones are dangerous to be brought and transported in the aircraft’s cargo. The warning was stated following a series of study involving previous incidents involving lithium ion batteries overheating.
The British company formed a partnership worth $7.6 million to develop hydrogen fuel cell technology for smartphones. The technology would create a need to modify the hardware of the smartphone to manage the chemical reaction waste. Intelligent Energy stated that if all goes well, the new technology could hit the market in two years.
