New Mexico has become the first US state to sue the German automaker, Volkswagen, for breaching the Clean Air Act with huge levels of emissions as well as for trade malpractices. The allegation is the company sold as many as 4000-10000 faulty models whose nitrogen-oxide emissions exceeded the limits by 40%, which could cost VW almost $20 billion in fines.
Tags: US
California sets new LED standards; promises huge long-term benefits
California becomes the pioneer state with new LED standards in place. The new regulation replaces the old traditional directional bulbs with the more expensive but energy-efficient LED ones. While more expensive, California Energy Commission promises huge benefits in terms of a bulb's longevity and, more importantly, electric bills.
Wendy’s the latest victim of credit card data breach
Wendy's, the famous fast-food chain is the latest victim of credit card data breach. The company's banking sources detected unusual patterns on customer credit cards right after they were used at a Wendy's outlet, and informed the company right-away. It immediately hired a cybersecurity firm to investigate the fraudulent activities that seem to have been tracked to Midwest and, lately, the East Coast. The investigation is currently ongoing and Wendy's did not provide any clear information on the findings.
Germany on a mission to bring home more than half of its gold reserves by 2020
Under a supposed repatriation program, Germany is bringing back its gold reserves from the vaults of Paris and New York. Germany had stored all its bullion overseas fearing a Soviet Union attack during the Cold War. Till date, the Deutsche Bundesbank has managed to get around 366 tons to Frankfurt, which is almost half of the total reserve of 674 tons that it plans to repatriate by 2020.
Obama takes first steps towards lifting the Cuban trade embargo
President Obama has rolled out a new set of regulations that lifts the Cuban trade embargo to a certain extent. The relaxed rules allow easy facilitation of trade, travel and finance between the two governments, a move taken to end the age-old cold war between them. While the embargo cannot be lifted completely unless Congress gives their consent, the Obama administration is convinced that this is a step in the right direction for improving the condition of the island.
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Ford Motor has announced on Monday that they would be exiting the Japanese and Indonesian markets by the end of this year as the governments are running a very "closed" market, protecting domestic sales over the international ones. The automaker has been unable to increase their sales or sustain profits under such circumstances. They said that the employees have already been informed and they would be providing detailed explanations regarding post-sale services like servicing and providing new car parts to its customers very soon.
Netflix has blocked its Australian subscribers from accessing the US content, who also happen to circumvent its geographical blocks with the help of private virtual network providers like uFlix and ExpressVPN. A continuous error message keeps the users from watching their favorite American dailies and movies. This has irked the so-called "geo-blockers" who are currently working on a solution to penetrate this block.
Facebook has come out with yet another special feature, this time, exclusively for the sports fans. Its Sports Stadium will be a virtual hub for millions of sports fanatics to get together and post photos/videos, like them, look at a dashboard full of stats and, most importantly, chat about the games, all the while getting access to expert commentary by celebrities and their teams. Currently, this space has only been rolled out for iOS in the US.
Las Vegas city cabs have overcharged the customers by a whopping $47 million, the findings reveal. The root cause of this extortion lies in its ridiculously high $3 credit card processing fees along with a hike in fuel surcharge. Long-hauling is also an added factor in duping particularly the tourists. The auditors have slammed some pretty harsh recommendations on the Nevada Taxicab Authority which regulates all Clark County cabs.
An unusual drop in US crude oil, below the already low $28 a barrel, created quite a stir in the market. It seems the oil prices are at a continuous plummeting spree. The current situation seems pretty bleak with supply exceeding demand to a great extent, especially after major oil exporter Iran came back into the scene.
Manny Pacquiao has decided to take the final bow after one last fight with arch rival Timothy Bradley. This much-awaited bout is all set to take place in Las Vegas on April 9, marking their trilogy. The boxing champion has decided to run for senatorship in May elections after his retirement and make a difference to his country. Given his popularity, Pacquiao even hopes to run for the presidency which is scheduled to take place in 2022.
The self-propelling stroller, introduced by the crowdfunder Indiegogo, is said to revolutionize the concept of a perambulator. Keeping in mind the needs of a parent, the stroller boasts of features like automatic movement controlled via sensors, built-in rocker, bottle warmer, canopies to weather different climatic conditions, to name a few. Its maker, Guillermo Morro, has also addressed all the safety concerns by assuring his audience that his highly capable team has always treated this as a top priority.
The world stockpiles of cotton are piling up giving less scope for investors on price rise. Cotton prices witnessed first weekly drop since November.
The world's largest and second largest economies have established 'Space Hotline,' a new communications channel to serve as a diplomatic safety valve.
