The supplier's subsidiary units in China was convicted for selling substandard and expired meats to restaurants including McDonald's and KFC. However, the company argued that the verdict was unjust and inconsistent with the evidence presented in court.
Industry
Gaza Economy: Palestinian Businessman to Open Coca-Cola Factory in Gaza Within Weeks
Palestinian-American entrepreneur Zahi Khouri teamed up with Palestinian investors to build a Coca-Cola manufacturing plant in the Gaza Strip. This new factory would provide direct jobs for 250 people and indirectly support 1,000 local families. This move is one of the first and most significant economic development in Gaza after the end of the war in 2014.
Some Venture Capital Tips for Investors and Startups
With a growing number of venture capital firms providing fund and startup companies looking for funding, there are many opportunities for each other to matchup. Here are some tips for venture capitalism from the experts.
Hoverboard fire resistant carry bag: promises fewer fires
There are chances that your hoverboard might catch fire. But there is a solution that eases your mind with specially designed carry bag called Hovervault that prevents the potential fire flames from spreading.
Blackstone profit falls 70%: hits on challenging volatile markets
Blackstone’s fourth quarter profit drops on volatility. the fourth quarter profit fell to 70 percent. This occured because the asset sales slowed and whipsawing markets took a toll across its business.
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Provider of drivers' digital media, CarGlass Inc received a $3 million seed funding from two investors. The company focuses on providing digital media content to drivers safely and intelligently.
Guinness Nigeria, the country's second-biggest brewer is seeing a prolonged decline in sales and shares. The failing of the beer industry is part of a bigger national economic slowdown, whereas Nigeria, Africa's largest economy, seek out for loan to cover budget deficits.
Abbott said that it has signed a definitive deal to acquire Alere for a net value of $5.8 billion in cash. Abbott expects the acquisition to be immediately accretive to its earnings per share upon completion.
China's benchmark Purchasing Managers' Index (PMI) fell to lowest in the three-and-a-half years. PMI was at 49.4 for January as against average forecast of 49.6. The PMI was 49.7 in December 2015. The disappointed China factory output data pulled oil prices lower.
Yes, that is true. Sesame Street is now working with Collaborative Fund and investing $10 million in the new venture fund. The fund will focus on companies working on childhood development.
E.coli outbreak which contaminated nationwide Chipotle restaurants last year will be declared over. However, CDC has not been able to find the source of the outbreak.
Rolls has defeated joint venturing General Electric and Pratt & Whitney while being awarded a £6.1billion deal with Emirates during April last year. Now the British car manufacturer again succeeds in snatching another deal worth $2.7billion with airline company Norwegian. The recent achievement is believed to accelerate Rolls CEO’s ongoing overhauling efforts aiming to establish transparency and cost cut of $200 million a year by 2017.
US Dollar has been witnessed to gain some value against yen in both Tokyo and Japan on Monday. The appreciation of dollar has taken place due to BoJ’s surprise move for slashing the interest rate to (-) 0.1%. Even BoJ Governor has hinted further rate slashing events, if situation demands. But economists have referred the attempt as an attraction drawing stance aiming to prevent yen from rising to boost up the sluggish economic growth.
Brazil, the world's number one coffee grower and exporter, has been hit by El Nino from last year, affecting the coffee crops and harvests. The weather has affected prices expectations and investors moves, as demand rise and supply declines. Coffee bean prices rise has been seen in Brazil.
