Alcoa Inc. announced that it will shut down one of the U.S.’s biggest aluminum smelters, Warrick Operations in Evansville, IN. The closure is expected to result in the loss of 1,270 jobs.
Sectors
European Market Stabilize and Wall Street Bounces As Chinese Stock Rise
European shares begins to stabilize as Chinese stock rebounded. The condition also triggered U.S. stock to climb.
Saudi Aramco plans IPO
Saudi Aramco may tap capital market very shortly. The Kingdom of Saudi Arabia (KSA) is considering a major restructuring plan for the world's biggest oil producing company in the wake of lower oil prices. The Saudi government may also sell some of the stake in Aramco.
U.S. Marshall Raided Hoverboard Booth at CES 2016
U.S. Marshall showed up at Consumer Electronic Show 2016 on Thursday. The federal official raided an alleged counterfeit hoverboard booth on court order, upon request from Future Motion.
Deadly H5 Avian Flu Hits China, One Fatality Reported; Virus also in France, Nigeria, Taiwan
The H5 Avian Flu virus has been appearing in poultry farms and markets around the world in the last month. In China, there has even been a fatality, with 5 other cases of transmission to humans.
Latest News
The name Motorola will no longer be seen on mobile phones. Lenovo, its parent company announced to stop using Motorola name anymore in its mobile phone.
Alexander & Baldwin Inc., the last sugar plantation Hawaii, will stop producing sugar by the end of 2016, ending an important industry to the island’s economy.
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.
A number of concerns about the upcoming Olympic Games in Rio, have already been reported. These include supply of virus contaminated water, forcing to pay the athletes their air conditioning and television bill. Power cutting to Olympic 2016’s inaugural venue by Rio City due to unpaid bill has appeared to be the last blow for the Olympians.
Researchers in NASA is moving one step further to introduce a hybrid airplane technology in concluding its ERA project. The airplane will be able to fly on both fossil fuel and electricity, similar to hybrid car technology.
Uber has agreed to pay $20,000 in fine and adopt a better data security provisions in a settlement signed with the New York Attorney General, Eric Schneiderman. Besides that, the company also agrees to limit the number of employees allowed to use the system.
Normal check-ins of baggage was resumed by Malaysia Airlines after restrictions due to powerful head winds. These head winds inhibit the airline's capability to carry cargo and baggage.
Intel’s Radar Pace Technology has been successfully incorporated in Oakley branded smart glasses, are capable of analyzing athletic performances and coaching thereto. The glasses have been represented before the audience of Consumer Electronics Show, 2016. Unlike Google Glass, the Radar Pace technology instructs the wearer doing everything just by talking.
The continuous drop in oil price for the past 18 months may impact $125 million real estate-backed securitized loans in North Dakota. The oil drillers in North Dakota have reduced their activity in the wake of lower oil prices. The reduced activity in shale hubs is poised to dampen the property market in North Dakota.
