The child labor reported is taking place in the Democratic Republic of the Congo in cobalt mines. The estimation says that about 40,000 children are working for the mines. Companies listed in the report gave various responses following the accusations.
Industry
Bitcoin is a failure and it’s over, according to one of its main developer
Mike Hearn, one of Bitcoin's developer wrote on his belief that the digital currency has undergone some irreparable damage and that the end is in sight. He explained some complaints about Bitcoin which he believes to have no plausible solution. Bitcoin, on the other hand, has gained popularity among internet users although the system has triggered some controversies.
Indian Rupee at 2-month high on rising outflows
The Indian currency Rupee against the US dollar rose to highest since November 2015 on increasing outflows from Indian stocks and bonds. The Chinese markets were witnessing selloff and this also resulted in further withdrawal by foreign investors in Indian markets. The net outflow from Indian markets in January so far was at $686.2 million putting more pressure on currency reserves.
Federal Government Invest $4 Billion for Autonomous Car
U.S. Department of Transportation will be allocating $4 billion for the next 10 years in self-driving car technology. Government will boost the effort in developing autonomous vehicle to increase safety innovation.
Audi And Mercedes Are The Latest To Caught By Hydrogen Fuel Cell Fever
Audi and Mercedes Benz, world famous German automakers have joined to express their interest for hydrogen fuel powered cell cars. Remaining one step ahead of Mercedes, Audi has already introduced its H-tron Quattro at the North American International Auto show, held at Detroit. Industry insiders assume, Mercedes, the lavish German carmaker will introduce its first hydrogen fuel cell car at the 2017 Frankfurt Auto Show.
Latest News
Chevron said that its subsidiaries in Australia have entered into a non-binding Heads of Agreement with ENN LNG Trading Co. Ltd to sell liquefied natural gas to China. The delivery of LNG will be commenced in the first six-month of 2019, according to the company.
As its international subscription soared, Netflix plan to collect more revenues. CEO Reed Hastings on Tuesday announce to increase its U.S. subscription fee.
Gold supplies peaked at 3,155 tonnes in 2015, while global gold production is expected to fall 3 percent in 2016, which means prices could increase this year.
Apple has been aggressively getting into the infosec industry and TechCrunch gives its top 16 security advancement options to look forward to in 2016.
Malaysia’s Petronas will cut $11.4 billion from its capital and operating expenditure for the next four years as rout in oil prices continues, sending Brent crude price to $28 per barrel.
Japan gave the go signal for the 2012 clean energy projects that could produce up to 85,550 megawatts of renewable power, the bulk of which is from solar energy.
South Korea’s Ministry of Environment will file criminal charges against Volkswagen AG’s Korean office head, citing that the car makers proposed plan falls short from the country’s legal requirements.
Mitsubishi Research Institute and UFJ Morgan Stanley Securities plans to raise 50 billion yen to revive struggling Japanese megasolar power plants.
China grew 6.9 percent in 2015 indicating the slowest growth rate in 25 years. The growth rate was 6.8 for the fourth quarter of 2015. The world's second largest country recorded 7.3 percent growth rate in 2014. Investors are cautious about the impact of slowdown in China's economy. IMF forecasts China's economy growth rate at 6.3 percent in 2016 and six percent in 2017. Chinese government has set a target of seven percent growth for 2016.
