Deutsche Lufthansa AG invested €3 billion to support its new premium service in the Middle East as it sees potential growth in the region.
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Ford Motor to invest $1.8bn in China; to roll out smart cars
With an objective of bagging a major chunk of market share in the world's biggest automobile market, the US automobile giant Ford Motor Corp has decided to invest Yuan 11.4billion ($1.8billion) in China. Ford will invest the amount in research and development (R&D) over next five years. Ford has been able to perform better in China market by eating into Japanese rivals' market share. Ford is planning to introduce new models in the China market soon. The new models include hybrid, plug-in hybrid and electric vehicles. Ford is also planning to roll out new generation smart cars shortly in China.
Daraprim price hike could affect the pharmaceutical industry
The overnight price hiked of Daraprim drug by the start-up, Turing Pharmaceutical is creating a big impact to the pharmaceutical sectors worldwide. The company which is own by a former hedge fund manager had acquired the right of the drug in August and immediately increases its price. The move is causing a backlash to pharmaceutical industry creating most of the shares down in a massive sell-off.
EB-5 tougher for Chinese rich if investment bar goes up
The EB-5 immigrant investor program, popular green card route for Chinese rich investors, may pose tough time for potential investors from the world's second largest economy if the changes under consideration come into force. The US government grants permanent residency to foreigners who invest $500,000 in the US economy creating employment opportunities.
British tech community delivers innovative solutions to refugees
Technology experts gathered in a one-day conference to tackle how they could help European refugees. They created an open office for all techies who wanted to help.
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The Panda bond market in China is expected to surpass $50-billion mark in next five years. International Finance Corporation (IFC) is planning to sell bonds in Yuan-denominated from this year onwards.
It seems like that the whole America is enjoying their savings on gas and takes advantage of the situation while it still favors them. According to the analysis by JPMorgan Chase Institute, about 25 million credit and debit card users were discovered to have spent an entire 80% of their gas savings. These extra expenditures went to restaurants, where a portion also goes to entertainment, groceries, clothes, electronics and appliances.
Central State Pension Fund executive director, Thomas Nyhan said in a statement that around 273,000 current and future retirees will be affected with its latest benefits cut. The country's largest pension fund is currently facing financial problem due to 2008 financial crisis and the latest economic uncertainty.
Facebook unveils animated emoticons, Reactions, to go with the 'like' button. The six emojis will have a pilot test in Spain and Ireland. Alongside the 'like' button, Facebook will pilot the Reactions. In particular, it is a set of emoticons including angry, sad, wow, yay, ha-ha and love, Tech Crunch gives details.
Adding one more tool to the Internet of Things (IoT), Amazon Web Services (AWS) has announced the launch of 'Amazon IoT,' a new service from the online retailer.
When employees are not satisfied with their benefits and how they are being managed, expect that delivery work is unsatisfactory. Worst is they will go on strike if their demands are not granted.
The San Francisco-based ride-hailing company Lyft has teamed up with Hertz Global Holdings Inc for offering rental cars to its drivers. Hertz offers car rentals on daily, weekly and monthly basis and now these services will be available as part of the agreement with Lyft, which offers rental cars to drivers who don't have their own cars or meet Lyft standards. On a pilot basis, Lyft plan with Hertz is available for drivers in Las Vegas and it will expand this plan to other locations soon. Lyft has also partnered with Shell for providing gasoline at discounted price to its drivers.
Marking a major feature since its inception in 2006, Twitter has released new app 'Twitter Moments' for bringing news updates to its users. Twitter Moments tool keeps up the users about news breaks without the need to watch multiple news platforms reducing time and effort. Twitter Moments app works on iOS, Android, and desktop and is initially available for US market only.
The American Academy of Arts and Sciences released a recent report detailing where most of the people's money were being put into, which revealed that 11 of the states in America are spending more on prison institutions than on higher education.
