China will release its economic growth data on Tuesday, and most financial institutions are expecting the slowest expansion rate since 1990.
Industry
High employment rate propels German GDP
Record high employment rate and domestic spending propelled German GDP rate by 1.7 percent in 2015, according to the German authorities' calculation.
Hyperloop Technologies to sponsor pod design contest
Hyperloop Technologies said it is one of the promoters of the Elon Musk's SpaceX Hyperloop design competition and will be offering $150,000 in winning prizes for engineering students. The contest consists of two parts in which the students design and construct a pod prototype for Hyperloop system.
China's search engine Baidu is to be punished for pornography and commercialization
The company is accused of commercialization in the form of selling its forum's management and altering search results to show paying-websites. Last year, Baidu also faced punishment over pornography and violations of publishing regulations.
Obama Administration to Invest $4 bln on Self-Driving Cars
Self-driving cars could eliminate fatal crashes that involve some type of human error. Autonomous technology could help reduce greengas emissions and transform mobility. Though driveless technology has grown increasingly popular, autonomous vehicle are not perfect yet
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Mayor Bill de Blasio’s administration along with the horse carriage industry of New York came to an agreement to shrink horse numbers in the city from 220 horses to only 95 horses by 2018.
Fluor Corp.’s NuScale unit will build small modular nuclear plants in the UK, which ambitions to have these facilities by 2025. The firm plans to submit a 50-megawatt reactor design to the U.S. nuclear authorities by the end of 2016.
Nissan provides two years of free charging for owners of its electric vehicle Leaf through the “No Charge to Charge” program. That program is now available in 26 states in the US.
The digital consulting market is a fast growing industry, and Forbes has given guidelines on determining when to hire a digital consultant.
Chairman of China Securities Regulatory Commission (CSRC) was reported to offer his resignation. Xiao Gang handed his resignation last week following a failure in executing circuit breaker system in China stock markets.
Both Wells Fargo and Citigroup have been badly hit with the historic low oil price. The Walls Street banks have heavy investment in energy portfolio and the industry is passing through a nightmare since 2008. Both the banks have been forced to keep provision against the default power investments. But real estate portfolio has helped Stagecoach to leave behind the umbrella with its greater contributions predicted earlier.
South African retail bank said the country's house price will decline in this year. Fitch Ratings also remarked South African residential property and mortgage markets outlook to weaken further facing microeconomic challenge.
Microsoft has started to display HoloLens, its first AR product at its flagship stores in New York. Unlike similar products developed by other competitors, the WiFi device has a very poor battery life. The tech giant is working to transform the device devoid of such shortcomings and expects to make it available in the first quarter of the current year.
JD.com, China’s largest online direct sales company, has raised $1 billion, for its JD Finance subsidiary from investors including Sequoia Capital China, China Harvest Investments and China Taiping Insurance.
