The US Energy Information Administration (EIA) has lowered outlook for the US crude production in 2016. EIA has reduced the forecast for 2016 by one percent in the US oil production.
United States
HSBC and JPMorgan Chase Must Increase Their Cash Reserve According to New Rule
When Lehman Brothers collapse in 2008, it created a global economy setback. Global financial authorities work hard to prevent it from recurring. Now, they introduced new rules for the world's biggest banks to increase their cash reserve and avoid taxpayers bailouts.
Ericsson and Cisco pool resources to earn $1 billion each
Ericsson and Cisco make a merger-like deal, but really isn't to face rapidly changing global market and earn up to $1 billion for each company by 2018. Fortune reported that European gear mobile communication manufacturer Ericsson and Silicon Valley Internet gear giant Cisco went into a partnership that is focused on future networks that will help manage the cross-selling for the companies' end-to-end portfolio.
Chipotle to reopen 43 restaurants after E.coli outbreak
Chipotle Mexican Grill Inc. is preparing to reopen its 43 restaurants in Washington and Oregon which had closed following E. Coli food poisoning cases. Tech Times reported that health officials declared that the restaurant chain could reopen its restaurants as early as Wednesday, Nov. 11, after batch of tests revealed negative E. coli results of food samples.
Tag Heuer teams up with Google and Intel to launch Android smartwatch
Swiss watchmaker Tag Heuer has unveiled its first Android smartwatch called "Tag Heuer Connected". Tag Heuer Connected combines Swiss watch's classic Carrera design with the U.S. technology.
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The GPU-centric company Nvidia announced a new developer module called Jetson TX1 with an emphasis on machine learning to equip boards, drones, robotics, and other devices. The piece of machine learning hardware is described to be the size of a credit card.
Hit by its emission-scandal, Volkswagen is lagging behind in the global automobile market, while auto sales are encouraging picking up mostly in the US. The German auto giant is facing adverse conditions in the automobile market globally after the emission norms scandal broke. The company is struggling to get back angry dealers to business mode to prevent further loss.
The millennial generation, those in the 18 - 34 age range, have been slow to enter the home buying market. Sidelined by student loan debts, high unemployment, and tighter mortgage credit, millennials have a different outlook on home ownership as other generations have in the past.
When the demand is high, Uber uses surge pricing, which charges extra for a ride to a user's destination. But it's experts say that the higher price can be easily avoided with the new research to prove it.
German automobile giant Volkswagen is changing gears to lead the organization on damage control path to appease its angry customers. The image of Volkswagen has severely been damaged on the fallout of its attempt to cheat customers and the US government over emission standards.
US retailers have started flexing their muscles to meet the buying demand during the forthcoming holiday season. Retailers such as Amazon have started hiring in number running over thousands.
Anbang Insurance Group Co. Ltd., a China-based leading global insurance group, has agreed to buy U.S. annuities and life insurance provider Fidelity & Guaranty Life (FGL) for about $1.57 billion in cash.
Blackberry, a global leader in mobile communications, confirmed that its first ever smartphone powered by Android PRIV is now commercially available at AT&T retailers in North America including carrier partners in Canada i.e. Bell, Rogers, SeskTel, Tellus and Wind.
The Gap Inc (Gap Inc) share fell over five percent to $27.69 and later rebounded to $28.45 a share on funds buying support on New York Stock Exchange (NYSE).
