The latest data for August shows that Russia's economy is showing signs of slowing down. But the rate of decline is moderating, the real sector data is giving a sigh of relief as the worst conditions in the economy are softening, if not improving.
Sectors
Apple iOS, praised and criticized at the same time
While the new operating system of Apple is being praised, it is also being criticized by those annoyed iPhone users whose devices crashed and were not able to upload it. Tech analysts blame it to overloading due to the simultaneous uploading of Apple fans who cannot wait to try the promising features of iOS 9.
Oil price further skids on renewed global concerns
Oil prices dropped further on Friday trading following the alert from the US Central Bank that global economy is weakening. Adding to this, indications that Organization of Oil Exporting Countries (OPEC) would keep up oil production, in order to maintain its market share, also further dampened the market confidence. Equities on the US and European stock markets opened lower. The fundamentals seem to have turned bearish, fell the analysts. Oil price is expected to be $80 per barrel by 2020.
Cuba renews drive for UN to condemn US embargo
Cuba renews its annual campaign urging the United Nations to condemn the US economic embargo. Foreign Minister Bruno Rodriguez told media the Cold War-era embargo had cost Cuba some $833.7 billion over five decades. "Seventy-seven percent of the Cuban population was born and has lived under the cruel effects of the blockade, the humanitarian impact and damage is extreme and cannot be measured (only) in numbers," he said.
American Airlines halted U.S. flights after a technical problem
American Airlines halted flights due to technical issues on Thursday, 12 noon. Chicago, Miami and Dallas airports have been affected. The operation was resumed around 2 pm. The Federal Aviation Authority tweeted that American Airlines flights to and from Chicago O'Hare, Dallas-Fort Worth and Miami were halted temporarily, "@AmericanAir requested a ground stop for all of their traffic in and out of DFW/ORD/MIA due to their computer issue," The Independent reported.
Latest News
American technology giant in global database industry Oracle Corporation is shifting its focus on cloud offerings. Of late the database major has been facing stiff competition from new technology companies which offer cost-effective solutions via the internet. The shift to cloud could affect Oracle's revenues coming from business fee from existing customers running Oracle software at their data centers, analyses technology experts.
A tame inflation complicates the Federal Reserve's decision whether to raise interest rates this week. Data show that despite many signs of economic improvement, the pace of growth of US consumer prices last month was well below the central bank's target.
The recent survey from Reuters shows that U.S. universities are the home of the most innovative projects. Though Asian universities have been fairly competent with universities from Korea, Japan, Singapore, and China.
American global conglomerate General Electric (GE) has floated a new unit 'GE Digital' to position itself a leader in Industrial Internet of Things. The newly created unit GE Digital will integrate GE software center, knowledge of its global IT teams and industrial security expertise of Wurldtech. Bill Ruh has been appointed as Chief Digital Officer to lead the GE Digital. GE Digital aims to be among global top-10 software companies by 2020.
On October, Bond fans will soon see their hero in cinemas again chasing villians in a hybrid supercar. Jaguar Land Rover provided the cars for the new Bond film 'Spectre' that will surely amaze the one driving it and the audiences as well.
New upgraded Theta S Camera to be launched in October with better 360° capture, more convenient size
Ricoh's new, upgraded Theta S camera will be launched next month with a better quality 360° photo capability and a more convenient size. Ricoh launched its small, stick-shaped 360° Theta camera in 2013. It can take spherical photos and videos.
Sony announced the change of name their game device from Project Morpheus to PlayStation VR as it enables players to feel like they are physically inside the game's virtual world. Sony has decided to change the name of its device Project Morpheus to PlayStation VR. The announcement was made at the Tokyo Game Show tweeting out as well the news from the official PlayStation Twitter account, Wired reported.
Qualcomm announced Quick Charge 3.0. It is a 'next-generation' charger that promises to charge smart phones from 0 to 80% by 35 minutes. The charger will be available alongside Snapdragon processors next year.
In a wireless world full of competition, it leaves Sprint with no choice but to think of a smart strategy to outwit others. So far, Sprint has the best deal compared with other carriers, but who knows what will happen next with the price war still looming around.
