The Australian search team looking for the missing Malaysian Airline MH370, which disappeared almost two years ago, found another shipwreck that dates back 200 years ago. They still haven’t found the aircraft.

General Electric Co. has been intending to sell its electrical appliance chapter prior to initiation of global economic debacle. The Federal Justice Department has foiled its earlier bid to sell its century old electrical appliance portfolio. Finally, it has reached a consensus to sale the business unit to Chinese electrical equipments maker Haier for more than $4 billion.

Biotrial Private Facility has been conducting trial of a pain killer over 90 volunteers. Six of them have fall sick and one of them has got severe brain injury. Volunteers rarely fall sick while undergoing through such trials, since the drug must go through several tests over animals with wide range of dosage. Paris prosecutors have initiated investigations to unearth the cause behind the regulator approved trial.

Walmart and Macy’s have announced shutting hundreds of stores on Friday and thus lingers the list with other retailing giants like Sears and Target. Surprising growth of ecommerce has reduced growth of the departmental stores and shopping malls. With the announcement of the World’s largest retailer, traditional stores have been started to witness the blink of extinction.

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.

Oil and gas market have been tattering due to existing sharp downtrend in price. Many oil companies have been writing down the value of shale assets over the past 20 months since prices started crashing. BHP Billinton Ltd. has also become dependent on bank debts to maintain soaring expenses and plans to cut dividends for the first time in 25 years. Finally, following the industry trend, BHP has announced for writing down US energy assets worth $7.2 billion.

China has been claiming most of the potentially oil- gas enriched islands located in the South China Sea region. Moreover, naval routes of this region are extremely important for passage of huge trade consignments. These factors have allured China to take control over the zone. But Chinese efforts in this regard are creating tensions among its neighboring countries, also claimant for the disputed islands.

Argentina is struggling from soaring inflation, which is hovering at 21 percent. The inflation rate is expected to reach 25 percent in 2016. The government is targeting to bring it down to five percent by 2019. The soaring prices are forcing consumers to pay everything in installments.

JPMorgan Chase, Bank of America (BoA) and Wells Fargo earned over $6 billion from ATM service and overdraft fees. For the first time, US government in 2015 allowed banks to disclose details from ATM and overdraft fee revenues. The US banking consumers pay in the range of $4 to $5 to withdraw money from an out-of-network ATM.

The debt burden of South African farmers reached to over Rand 125 billion ($7.5 billion). The total debt of farmers was up 14 percent in 2015 to Rand117 billion. Economists alert that the prevailing slump in commodities markets, tighter monetary, fiscal policy, drought conditions and drop in value of Rand will trigger higher than expected inflation rate.