The debt-ridden Island Puerto Rico has opted for value-added tax (VAT) as a measure to enhance revenues for the government. The new VAT structure will come into force starting1 April 2016.
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Alibaba and Suning Partnership Could Change China's E-commerce Domination
China e-commerce industry is worth $2.1 trillion in 2014 with the number of users growing by 31.4 percent as reported by China E-Commerce Research Center (CERC). Out of the total amount, $450 billion comes from the online retail business alone. Current market players in the e-commerce are Alibaba, JD.com, and Suning Commerce.
Google to unveil two new products on 29th September
Google is sending media invitation for its event this coming 29th September. The event "a Morning Conversation about Some New Treats from Google" is expected to unveil new hardware produced by the company. News has been circulating that the company will unveil new Chromecast and new Nexus phone at the event.
Federal Reserve Leaves the Interest Rate Unchaged Causing Panic Among Investors
Federal Reserve's announcement to leave the interest rates unchanged sparks a global concern regarding the future outlook of global economic. The Wall Street particularly reacts negatively towards the news as most stocks are trading at a lower price forcing the index to close lower.
Volkswagen might get fined $18 billion for 'defeat device' installation
EPA called the software "defeat device" that conceals the true emissions only during testing and therefore when the cars are on the road they emit as much as 40 times the level of pollutants allowed under clean air rules making sure public health is protected, Giles said.
Latest News
US tech giant Google may not be paying taxes to Britain, but according to its latest report, it is contributing a great deal to UK's economy through the digital revenue made by local businesses in that nation through the search engine.
Right after Apple announced its new Apple TV, Amazon unleashed on September 17 its new Fire TV set-top box version, along with its Fire TV Stick HDMI dongle, and its new Fire TV Gaming Edition.
Japanese automobile major Mitsubishi Motors Corp has begun the process of closing down operations in the US. Mitsubishi had put on its sole US manufacturing unit on the block, but couldn't find a suitable buyer and decided to close the shop.
New York photographers, Santiago and Mauricio, collaborate with AY Collective, the Society Management and Fauxgraph 3D technology to come up with a 3D-printed doll version of the American supermodel Lindsey Wixson.
Pinterest announced it had reached 100 million monthly users this week. The company will include 'Buyable Pins' on the site soon. Tim Kendall, Pinterest Monetization GM, told Fortune that the startup had crossed 100 million monthly users. Kendall said the number of shared links and images have doubled over 18 months as well. Added to that, searches to Pinterest had risen to 81% over the previous year.
New regulations have been issued by the U.S. to alleviate restrictions on American companies venturing business in Cuba and opening up travel in the latest action to soften the US trade embargo on the Communist country.
Google Glass, also known as Project Glass, changed its name to Project Aura. Google started developing the project in June and aims to include advanced technology like Soli and Cardboard. Google is working out on Project Aura. According to the Business Insider, the project started rolling out in June. Its focus is to revive the wearable device, Google Glass.
Honda recently unveiled its newest 2016 Honda Civic sedan in a Los Angeles event and will sell in the U.S. this fall. Sooner or later it will be followed by coupe and five-door hatchback body styles, adding sporty Si and Type-R models with the latter's first appearance in U.S. showrooms, as reported by Digital Trends.
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.
