Honest Co was accused for a fraudulent labeling in its home and personal care products. The plaintiffs claim that more than 40 of its products contained chemical and toxic ingredients.
Sectors
Singapore-based Wavecell Scored $1.6 Million in Series A Funding
Wavecell is a startup company that focused on providing cloud communcation service. The company has just received its Series A Funding led by Qualgro Asean Fund.
NetApp to Layoff 15,000 Employees Due to Lower Than Expected Performance
On Wednesday, the data storage specialist NetApp reported its revenue at a lower than expectation. The company suffered a low demand of its product and will cut 12% of its employees.
Yahoo Cut Another Employment and Shutting Down Digital Magazines
Yahoo announced another round of layoff after early February cutoff. Around 300 employees in California office will lose their jobs.
Apple Pay Targets China As Its Biggest Market
Apple Pay is targeting China as its largest market. The mobile payment system was released Thursday and was hoping to convince retailers to use the system since there are hundred million users of Apple. A lot of banks will support Apple Pay including the Industrial and Commercial Bank of China.
Latest News
Indian Rupee further fell in a narrow range and was nearing its record low. On the other hand, stocks on the Indian bourses staged a recovery. The S&P BSE Sensex was up 0.8 percent paring intraday loss of 1.2 percent. Overseas investors continued to offload in the Indian stock markets.
The largest mining company's shares dropped as nickel and metal price plunge, following order reduction from China. Last week, nickel reached its lowest price in 13 years.
Plus500 booked an increase in total revenue for 2015 to $275.6 million, despite facing a dificult year. Increase of compliance cost and failed merger with Playtech has disturb the company's operation.
Oil and gas prices have continued to slashing down in 2016. Due to lower commodity prices, Oil and gas companies are adopting cost reductive measures including job cuts. After job cut spree in Sandridge Energy, Devon Energy has announced 1,000 job cuts on Tuesday. The company has forecast for another 600 job cuts ahead.
The volume of maturities of US investment-grade companies during 2016 and 2020 will be $864 billion. This is record high for the US investment-grade companies. However, they can easily access financial markets for refinancing their debt, observes global rating agency Moody's Investors Service.
UAE Minister of State Sultan Al Jaber has assumed the charge as Director General at Abu Dhabi National Oil Company (Adnoc). Al Jaber has to overcome turbulent conditions in the oil industry as the lower oil prices, oversupply and consumption are the major challenges ahead of him.
India is a populous country hence, a lot of consumers for business-minded people. D-Mart is one of those businesses that cater to customers' wants and needs at affordable price. This strategy is what Wal-Mart and other giant companies should follow in order to better revenue and sales growth.
Clean air shortage in China forces wealthy residents to buy jars of it from a British entrepreneur. The company's name is Aethaer, a Greek word for 'pure, fresh air' and described the product as 'Louis Vuitton or Gucci' of fresh air. Each 580 ml jar of clean, fresh air costs around $115 or £80.
The oil services company Paragon Offshore Plc filed chapter 11 bankruptcy after the announcement of debt plan. The main reason is to avoid protracted legal battles involving its former parent, Noble Corp.
