Just Prior to the State of Address to the Congress, Venezuelan President Nicolas Maduro has imposed economic emergency for 60 days. The concerned decree is aimed to allocate funds to keep alive the socialist government’s signature anti poverty programs. If opposition led Congress denies the imposed decree, Maduro will have to appeal to the Supreme Court of justice for its continued effectiveness.
Legal & Regulatory
Apple Finally Succeeds In Imposing Ban On Older Handsets Of Samsung
Apple has won a court verdict regarding trade banning on certain older Samsung handsets. The verdict has been appeared as a long cherished Apple appeal. But since the matter relates to smart phones, so industry insiders prefer for negotiation instead of imposing court injunctions. This is because of the fact smart phones require others’ features to include on payment basis for continuous development of products to sustain in the competitive market.
China Property: House-pricing rose in 39 cities, while authorities vowed to reduce home inventory
The authorities expect more easing measures to help reducing home inventory excess. Developers are also encouraged to change marketing rules and reduce home prices as China's property investment growth hit the lowest rate since 2009.
Ivory Trade: Hong Kong will work towards banning the sales
Hong Kong has been one of the main traders of elephant ivory. The government is about to change that, a move praised by activists and environmentalists.
Greece Bailout: Central Bank Shows Support to Implement Pension System Reform
The government of Greece has been faced with a controversy whether to approve bailout reforms required by international creditors. Bank of Greece have shown support that encourages the government to conform with the required reforms, including the tough pension system reform.
Latest News
Italian Medicine Agency has formulated an advanced strategies in drug spending. The agency has developed an innovative deal with pharmaceutical companies to institute a refund for ineffective medicinal treatment.
Rupiah has been reported as the second worst performing countries during the first three quarters of 2015. But during the fourth quarter, the currency has around apparently due to the country’s cautious monetary policy. Bank Indonesia has announced cutting benchmark interest rate to 7.25% on Thursday and consequently Rupiah has appreciated some more value.
Goldman Sachs Group Inc. has finally agreed to pay $5.1 billion on Wednesday to resolve a seven years’ pending dispute over faulty mortgage securities. The penalty amount remains lower compared to those counted by other Wall Street competitors. Fourth quarter profit of the firm may be hit by the penalty counting. But investors welcome the settlement and its share price rises by 1.5% on Thursday.
Uber has changed its driver recruitment policy and advised the previously rejected applicant seeking for drivers’ job to take the benefit of proposition 47. This law allows nonviolent criminal offenders to downgrade their offence level to misdemeanor through submitting applications. Uber’s effort is believed to benefit the released inmates who aim to rebuild their lives.
Former Facebook exec Sean Parker gave $500,000 to a newly formed group that aims to legalize recreational marijuana use in California.
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.
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.
TransCanada Corp sues US government to reverse President Barack Obama’s decision to reject its Keystone XL pipeline. Canadian firm also seeks $15 billion in damages from the North American Free Trade Agreement.
Lumos Labs has been charged a fine of $2 million by the FTC for their misleading claims on the benefits of using their app, Lumosity. The company claimed that the app could decrease or slow down serious mental conditions by frequently using the app.
