The US automobile industry will have the automatic emergency braking system in place by 2022. About 20 automobile manufacturers representing over 99 percent of US automobile industry have agreed to implement automatic emergency braking system in their vehicles.
Sectors
Financiers Back Away From Coal Ventures, See No Clear Future
U.S. coal industry is facing tough times as one by one files Chapter 11. Due to high debts, decline in demand and stricter regulations, most have no other choice but to shut down. Lately, Peabody Energy announced that it may go bankrupt.
India moves WTO over US doubling visa fees
India is seeking World Trade Organization's (WTO) intervention over increasing visa fees by the US. The visa fee for H-1B has been doubled to $4,000 and it's $4,500 for L-1 visa, as fixed by the US government.
China's consumers spending rise on spas, travel, entertainment
Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
China's Anbang to Acquire Starwood Hotel Group At More Than $13 Billion Bid
Starwood is about to dump Marriott's offer in favor of Anbang's more than $13 billion bid for the acquisition. If the deal pushes through, Starwood will pay Marriott a breakup fee of $400 million. Marriott has been given five days to counterbid.
Latest News
Recently unveiled new Brokaw Act is a Congressional effort to regulate activist funds. The new act aims at regulating activist funds. Democratic Presidential candidate Bernie Sanders and Massachusetts senator Elizabeth Warren have co-sponsored the Brokaw Act.
Chancellor George Osborne has announced a £1-billion rescue package for trouble-hit North Sea oil industry. The government is also extending £730 million support for renewable electricity.
The streaming service company on Wednesday reached the deal over music royalties with the National Music Publisher's Association (NMPA). Spotify will pay $21 million worth of royalty to publishers and songwriters.
Following Valeant Pharmaceuticals' meltdown, S&P rating service puts Pershing Square Holdings Ltd on review. However, S&P acknowledged swift decision by the firm to strengthen its liquidity after a massive loss.
Following another quarterly loss, the clothing company is in rush to find the best option. That includes putting the company on sale.
Pacific Exploration & Production Corp is actively examining six buyout offers. The Canada-listed company is in the process of avoiding bankruptcy. The company's board is likely to take its final decision by this weekend.
Alphabet's Google has landed Apple as a customer for its cloud computing platform. Apple has started to store part of its cloud service in Google cloud platform, while also building its infrastructure.
Google launched new product targeting enterprise marketers on Tuesday. The Google Analytics 360 Suite will go head to head with Adobe and Oracle product in enterprise Internet marketing.
Domino’s Pizza has unveiled an exciting way to deliver their hot and sumptuous pizza. The pizza chain introduces Domino’s Robotic Unit or DRU, which can hold up to ten pizzas and travels at 20 km/h.
