An MIT research team has introduced a new computer chip, Eyeriss, that will allow IoT devices to go through deep learning process. Data collected by the devices, is currently uploaded to the internet for processing by power servers. Eyeriss chip processes the collected data locally using the neural technology and thus ensures data security and reduces power consumption.

AXA SA has partnered with Africa Internet Group to become the sole supplier of insurance products in Africa. The transaction will promote AXA's business strategy and help the French insurer to serve the African society.

The Russian Central Bank revoked license for banking for two banks, the Interkommerzbank and Alta Bank. The license revoke is part of the tougher regulation set by the Russian government to help strengthen the country's economy.

BaFin has imposed an embargo on Sunday shunning all transactions of Maple Bank. The embargo comes followed by investigations by the regulator on the allegation of tax dodging. However, National Bank of Canada, the parent organization of Maple Financial Group pledges for repatriation of the dividends taken from Maple, if proves guilty.

The Norwegian government is reeling under pressure owing to oil price drop. The lower oil price is eroding revenues for the government. The Norwegian government is counting on state's dividends from Statoil ASA.

As part of reducing costs, the Japanese government is seeking lower drug prices by moving towards more generics. The ageing population and rising debt are taking a toll on the Shinzo Abe's government. The Japanese government is aiming to reduce prices of branded drugs.

Chobani, founded by billionaire Hamdi Ulukaya, turned down an offer made by Pepsico this Friday. The beverage giant wanted to buy out the majority stake in the Greek yogurt maker, but Chobani was only interested to sell the minority stake, resulting in the deal fallout.

iRobot is selling its military division of its company for up to $45 million. The sale was because of pressure from shareholders.

Qube Holdings have come up with a more tempting offer than its competition, Brookfield, in acquiring Asciano. A greater cash component thrown into the deal has tipped the scales in their favor, which Brookfield has only five days to match.

GitHub is experiencing a huge inner havoc as many executives flee from the company. Chris Wanstrath has been overhauling the firm's culture backed by its board.

Peugeot suspended sales from Iran in 2012 following nuclear sanctions expansion to the automobile sector. Now that the sanctions are lifted, Peugeot immediately strives to reinstate partnership to come back to the markets that cost it 10 percent of global deliveries when the sales are suspended. It costs Peugeot $446 million in form of compensation and services.

Sony has kept its words through releasing Xperia Z5 and Z5 Compact smart phones in committed date. But the US oriented version of the Z5 genre hasn’t inherited the biometric authentication system. This lacking will affect the consumers using Android 6.0 and thus shave Sony’s profit margin to some extents.

Morgan Stanley intends to hire additional bankers in 2016 in order to contend with its rival Nomura. The company failed to present the exact number of staffs being hired.

Private equity firm Silver Lake will invest $500 million in cyber security company, Symantec. The money from the investment will be used by the company to buy back shares and issue a $4 dividend to shareholders.

As per the federal agreement, HSBC has agreed to pay $470 million to provide relief to abused mortgage loan borrowers. The payment will be directed towards mainly Virginia, along with 48 other states. The bank, accused of malpractices like robosigning and bad loan designs, will now be monitored by an independent body to ensure it adheres to the revised banking standards and settlement terms.

All the tech giants are investing heavily in the research and development of virtual and augmented reality products. Google has been reportedly planning a successor to the cardboard VR viewer. The smart phone based headset incorporating improved sensors and lenses will be housed in a solid plastic casing instead of a cardboard.

Contrary to earlier bullish predictions for 2016, several Wall Street strategists have started lowering their forecasts on S&P 500 stocks. The Chinese economy slowdown, volatile oil prices and interest rates are the major reasons for drop in forecast. The gap between highest and lowest forecast has been widening.

Android users can experience the new system update since 2015. Some remarkable new features include security improvement, performance management, user interface, storage improvement, and support to new innovations including the Type-C USB.

China's foreign exchange reserves had declined reaching to trillions. However, the government made efforts to support the local currency from dropping further.

The case was brought to Central Jakarta District Court in 2014, and the decision was ruled by the court last year. The plaintiff made the case by presenting the Indonesian trademark law which stated that a trademark could be deleted if the company had not used the name for commercial purposes in three years after registration or after the last use.

Messaging app Wiper has raised a total of $4.5 million seed funding from its investor Michael Choupak adding $2 million dollars. The service launced $4.99 monthly subscription fee to preview and watch thousands of original short and long, inexpensive indie films that can be compared to expensive Hollywood movies.

The failure of Takata's airbag inflators are keeping pressure on several automobile giants. Volkswagen and Audi will recall Tiguan and Q5 model vehicles for defective airbags made by Takata. Dealers of automobile companies will replace the defective side airbags of Takata at free of charge.

Some of the biggest hedge funds have initiated bets against the Chinese yuan. The world billionaire investors believe that they currency will still be devaluating.

It was confirmed by Verizon CEO Lowell McAdam that Verizon is interested in acquiring Yahoo. The Internet search company had difficult times in the past years as many other companies had their market share in the online and mobile business. This promts Yahoo to reconstruct its business including cutting jobs.

Nigeria as biggest economy of Africa is not able to meet demands for power supply for various reasons. Azura which generates power for Nigeria, is of view that for supply to increase the power transmission the grid must be expanded. And terms of the management of transmission grid which is run by a Canadian Company needs to be reviewed.

The office of Swiss Attorney General began criminal investigation in August 2015 into former officers of Malaysia's Development Fund 1MDB. Charges relate to bribery of foreign officials, dishonest mismanagment of public interest and others. The Attorney General's office has revealed serious indications of $4 Bil having been misappropriated from State Companies of Malaysia.

Rolls has been participating in the Naples Winter Festival for the last 15 years with the first production of any new version placed for auction. The first copy Dawn Convertible has been auctioned in January 31 for $750,000 and thus collects $4.8 million in total. The amount received from auction is dedicated for Naples Children & Educational Foundation (NCEF).

Venture capital (VC) funding activity seems to be heading towards pre-recessionary mark. The VC activity recorded robust growth phase for over seven years. The sluggish financial markets are discouraging VC funding and raising money.

Mexico is receiving $400-loan from World Bank for rural development and will formally sign an agreement. Mexican government will utilize the funds for extending financial lending to farmers and fishermen in rural areas. The small and medium enterprises (SMEs) will also get financial support from the Mexico's national agricultural financing agency FND.

The Los Angeles-based fashion retailer Nasty Gal is reducing the number of employees by 10 percent as part of its strategic restructuring. The increasing market competition and uncertainty in financing aspects are forcing the company to reduce the costs. Several former employees moved court against Nasty Gal against layoffs.