The Chinese government hopes to boost the number of clean vehicles on the road 10-fold by the end of the decade through the spending billions on research grants, steep subsidies and new infrastructure — such as charging stations — to… Read More ›
Economy & Finance
Plans to Deal ‘hammer blow’ to Tax Evasion by UK and European Allies
In a direct response to the Panama Papers leak that exposed how the world’s richest and most powerful people hide their wealth from tax authorities, Britain and its European allies have announced new rules designed to be a “hammer blow”… Read More ›
Spain’s Industry Minister resigns after his name figures in the Panama Papers
Two Spanish news outlets have claimed they have documents which link Jose Manuel Soria and his brother to an offshore account. Spain’s Minister of Industries Jose Manuel Soria has sent in his papers after his name was mentioned in the… Read More ›
Well Fargo’s ranking in the global financial system gets a boost
A financial watch dog within the U.S. Government’s Treasury Department has boosted Well Fargo’s ranking in the global financial system. As per the findings of a U.S. government research group, Wells Fargo & Co is the only large U.S. bank… Read More ›
QSR’s force McDonald to change its approach to the Asian market
This strategic change will be hugely beneficial for McDonald as it will be largely absolved of fluctuations in China’s turbulent economy but will come with assured yearly royalties. As per sources who are familiar with the matter at hand, McDonald’s… Read More ›
Largest U.S. coal producer files for bankruptcy
A significant dip in demand from China, along with falling prices have deeply affected its operations. The Obama administration’s climate change policies have only compounded its woes. Faced with a significant drop in coal prices, U.S. coal producer Peabody Energy… Read More ›
Panama’s Attorney General raids Mossack Fonseca’s office in Panama
The raid by the Panamanian police is supposedly looking for evidence of illegal activities by the law firm. Late on Tuesday, Panama’s Attorney General has raided the offices of Mossack Fonseca, a law firm, in search for evidence of illegal… Read More ›
Alcoa posts lower profits for first quarter of 2016
The company is set to split in the second half of this year. Alcoa Inc., a company which deals in metals, has reported a lower quarterly profit thanks to low commodity prices. Plant closures and disinvestments along with a strong… Read More ›
Warning of Stagnation Risk Issued by IMF as it Cuts Global Growth Forecast
Citing reasons of China’s slowdown, persistently low oil prices and chronic weakness in advanced economies, the International Monetary Fund cut its global growth forecast for the fourth time in the past year on Tuesday. The global economy would grow at… Read More ›
Starwood and Marriott Hotels merger to create the biggest hotel company in the world
The estimated time for closure for this merger is mid-2016. With the shareholders of Marriott International Inc. and Starwood Hotels & Resorts Worldwide Inc. approving their merger, has resulted in the combined entity becoming the biggest hotel company in the… Read More ›
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