Following a deal with UAW, the union members are enjoying jobs in Ford’s Wayne plant sacrificing small-car plant in Mexico. Applying the loophole in negotiation terms, Ford announces another $1.6 billion production plant in Mexico in addition to previously declared $2.5 billion plant. Ford’s tricky stance has irked the UAW and the union members have demonstrated protest against the automaker’s decision.
Industry
Starbucks Biggest Coffee Shop Soon to Rise in Manhattan
Starbucks is about to open its biggest coffee restaurant in 2018 and will be known as Starbucks Reserve Roastery and Tasting Room which will be housed by the 170,000 square foot building developed by Aurora Capital Associates and Vornado Realty Trust. It would be the biggest Starbucks coffee shop in the world where customers also get educated about the process how coffees are roasted and brewed from all over the world.
Nielsen teams with DISH Network to improve its rating service
Nielsen Holdings has entered into an agreement with DISH Network to enhance its business service to the global standard. Nielsen plans to license set-top box data from DISH.
Russian Output Reached 30-Year High Ahead of Meeting with Oil Producing Countries
Russia produced 10.91 million barrels per day in March. This recorded as the highest in 30 years and raising the doubt on the production freeze.
Tesla Missed Q1 Deliveries Target Due To Parts Shortages of Model X
Tesla announced parts shortage as the factor that caused the company to miss its initial sales target for the first quarter of 2016. The company, however, retains its guideline for the full year as it already solved the root of the problem accordingly.
Latest News
Ntel is seeking $1 billion loan investment for its 4G mobile broadband expansion for 2020 to take advantage of the increasing number of smartphone users in Africa. It will start its 4G LTE service to Abuja and Lagos by April 8 competing with other Nigerian four company internet and broadband providers.
The $160-billion merger plan of Pfizer Inc and Allergan Plc is heading towards termination owing to new measures announced by the US Treasury Department which has been taking measures to curb malpractices by US companies in tax evasion by merging with foreign firms.
Cyprus-based lender RCB has denied reports of extending unsecured loans. Latest British media reports turned spotlight on alleged role of RCB in providing unsecured loans to people close to Vladimir Putin, President of Russia. Cyprus Central Bank said it was probing into the issue.
Zodian and B/E Aerospace are the two leading global aircraft interior developer, but are in a practice for making delay in delivery. Annoyed Boeing has dealt with a new aircraft interior developer, Lift. Boeing expects that the Lift’s seats will offer its customers stability and reliability desired from the 737.
Mitr Phol Group of Thailand has been recognized as the largest sugar and bio-power producer in Thailand and the fifth-largest sugar producer across the globe. The group intends to get recognized as the world’s leading sugar and bio-power producer. Upholding the view, MPG has announced its ฿50.4 billion investment plan inn some select areas.
Minister Al Falih, head of Aramco, has expressed intention for investment in India’s oil industry. The intention has been revealed following its earlier decision for selling less than 5% stake of Aramco through IPO. All the moves have been analyzed as parts of Saudi bid to diversify its economy while reducing dependence on oil prices.
After a series of setbacks, UK's Serious Fraud Office will start the third trial on Libor rigging case. Five former bankers in Barclays will stand accused as conspirators.
The third largest bank in France will continue its cost cutting plan. Through the year 2020 the bank will cut 550 jobs in its retail operation.
South Africa's economy, which was once considered a darling among foreign investors, have slumped over the previous 18-month period. Market experts view the current economic situation as a major risk factor for further investment in the country.
