Retail giant H&M is looking forward to boosting its brand awareness throughout China with the opening of majority of its new establishments this year in the country regardless of the global concern over Asia's unstable economy, The Drum reported.
United States
Caterpillar's part suppliers are feeling the economic slowdown too
The slump business in the mining industry had led Caterpillar to reduce its revenue expectation for this year. The latest revenue projection is $48 billion which is 25 percent lower compared to the last 4 years. The reduction means not only the company will suffer, but its heavy machinery parts supplier is feeling the effects too.
VW scandal exposes cozy ties with Berlin
The recent scandal that Germany faces has revealed the loose sanctions that its government has for the German automobile industry, what with the latter being the nation's poster child with its combined contribution of 413 billion euros revenue from the three biggest carmakers: Volkswagen, BMW, and Daimler in 2014 alone. Whether it is justifiable or not has raised a moral issue argued upon these days with "just how many lives have perished because of this?" as the primary argument.
Mark Zuckerberg speaks at UN: Internet access can eradicate extreme poverty
Facebook Founder Mark Zuckerberg recently spoke at UN and says there is more that can be done that's why he and Microsoft founder Bill Gates, along with Wikipedia founder Jimmy Wales, and U2 front man Bono rallied to eradicate poverty by bringing internet access all over the world. UN has made it a goal to achieve by 2020.
Gates Foundation sues Petrobras and Auditor for Fraud
The trust that manages the $41 Billion Bill and Melinda Gates Foundation filed a lawsuit last Thursday that alleged the widespread corruption at the oil company and which was largely ignored by the auditor. This resulted to the charitable organization's loss of tens of millions of dollars.
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The global effect of climate change is devastating, prompting countries and giant companies to take action in addressing the changes in climate. On Wednesday, nine major companies are expected to take part in a global coalition of firms intent on transitioning to renewable energy. New members include Johnson & Johnson, Procter & Gamble, Starbucks, Walmart, and Goldman Sachs. Couples of companies had already reached the target of 100% while others do not expect to do so for several decades but are generally setting assertive interval targets, according to The New York Times.
Bank of America Corp (BofA) has turned positive on Russia's economy as it started seeing signs of recovery in near future though on a weaker note. The drastic slowdown in capital investment is gradually easing off. Russian economy seems to have bottomed out. Russian gross domestic product (GDP) shrunk 4.6 percent during the second quarter.
It's not rocket science to figure out that everything that runs with electricity costs money; exactly how much it costs, however, has just been recently figured out. People these days are not only looking for the best mobile devices; they are also on the lookout for better battery lives. Big Corporations such as Apple has taken an initiative for this. For example, according to MacStories the newly released iPhone 6S and the iPhone 6S Plus and its new iOS 9 have optimized apps and key technologies that help its users have an energy efficient experience. That's because everyone just struggles with battery life and there's no such thing as enough battery.
Google will install public Wi-Fi across 400 railway stations in India. Reports say this would be the largest public Wi-Fi in the country and certainly one of the largest in the world.
IBM is bringing its supercomputer, Watson, to Silicon Valley. The tech giant will open in San Francisco, California an innovation center for Watson, known for defeating human rivals on the TV quiz show, Jeopardy, in 2011.
Facebook introduces the 360-degree video. It is a new feature which will let you roll videos in any angle. The new feature will be accessible first on the web and Android devices.
Though US business investment marginally eased in August, the new home sales on the upward move during August. The latest data for August indicates that the US economy is not impacted much in line with ongoing global unrest. The US economy is growing as per the forecast for GDP growth rate of 1.4 percent for the third quarter. Barring aircraft and defense equipment, business investment showed a marginal drop of 0.2 percent during the month. The August' drop comes close after gains in July that were considered to be the biggest upward movement in the year boosting business confidence that American corporate sector is not disturbed by the sluggish global economy. New home sales in August rose 5.7 percent to annual growth of 552,000 indicating highest level since 2008. This growth in home sales was higher than the forecasts.
Oculus just announced another exciting news to its users during the Oculus Connect conference in Hollywood. As users are eagerly waiting for the next Oculus rift to hit the market next year, the team announced that they are working with Netflix and Hulu to bring the network shows on virtual reality. Users can now bid goodbye to the day of holding their laptop as they are lying down on their bed watching "House of Cards" or "Orange is the New Black".
Swiss multinational insurance company, ACE Limited announced that the company will start offering cyber protection insurance up to $100 million. With the rising numbers of cyber security attacks particularly in the United States, the company is planning to lead the way for cyber insurance. According to PricewaterhouseCooper, the cyber insurance sector will increase to $7.5 billion by 2020.
