Industry

State-owned Saudi Arabian Oil Co. (ARAMCO) is possibly going for an IPO aiming to raise funds for $1 trillion to $10 trillion. Some shares of the IPO may be awarded among the local banks and investors following ARAMCO’s action plan. However, experience in banking operations in the kingdom is believed to play the key role for selection which put HSBC and JPMorgan well ahead in the IPO grabbing race.

IRS has fined some 8 million people and 1.4 million households are forecast to fall prey of fines due to ignorance on new healthcare law. Commonly criticized as the Obama Care Law, the new law instructs all Americans to go through insurance net. But mainly due to ignorance about mandatory submission of tax returns and moreover legally remain exempted from tax net, have fall victim to count fine for $210 each.

Google and Huawei presented new color to Nexus 6P flagship product: matted gold. Previously only available in Asia, but now it can be purchased in the U.S.

In a major setback, Silicon Valley’s largest startup accelerator reshuffles assignments for top executives. After five years of joining, Gmail and FriendFeed dreamer Paul Buchheit replaces Sam Altman as managing partner of startup accelerator’s core program. Sam Altman is reportedly assigned to advise his successor managing partners while overseeing the entire program.

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McDonald’s launched a new makeover for its packaging using bold, bright colors on cups, boxes, and bags that will become more appealing to customers.

An Etsy shop makes it possible to put one’s face on his or her Lego mini figure. For $30, a new technology lets Lego fans, who have long dreamed of seeing their own faces on Lego mini figures, get their 3D faces printed and pasted on Lego refrigerator magnets or cake toppers, or more.

The United Airlines was fined $2.75 million by the U.S. Transportation Department for violating the tarmac-delay rule and mistreating passengers with disability.

Lily Robotics’ self-flying camera drone sale has earned $34 million in pre-orders, announced its CEO at the CES 2016.

Aston Martin partnered with China’s LeTV to come up with the Autolink Rapide S, which was showcased at the Consumer Electronics Show (CES) 2016.

Oculus VR founder Palmer Luckery said he is sorry for misleading consumers into believing that the Oculus Rift only costs $350, when it is really priced at almost $600.

Delhi residents have been witnessing chilling cold, drizzling and heavy fog. The Fog is so dense that visibility range has been reported to remain around 75 meters during 10 am to 4 pm. Despite adopting highest ILS, CAT IIIB, air movement has been kept stalled for around 6 hours. According to IGIA met office partly thundery weather may prevail on Sunday next.

Apple is possibly going to bid farewell to the headphone sockets in its new models of iPhone 7/ iPhone 7 plus/ iPhone 6C. This process will make the phone even thinner than normal, while Wolfson Microelectronics will remove background noise during listening to music and making phone calls. But all the changes, Apple is rumored to adopt, are features borrowed from market rivals.

Last December, Martin Shkreli, who was arrested for securities fraud in pharmaceutical company was released on bail. Court document shows his $5 million security bond was secured with $45 million E-Trade account.

European shares begins to stabilize as Chinese stock rebounded. The condition also triggered U.S. stock to climb.