Despite numerous sources of credit, Hanjin Shipping is still short of 270 billion won to unload all of its cargo. The non-unloading of its cargo is likely to impact the upcoming holiday shopping season. In a development that could act… Read More ›
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Allianz says German Households Lost Over $200 Billion due to Over-caution
German insurance giant Allianz said that over the past four years, 200 billion euros ($223 billion) has been lost in investment income by German households due to their overcautious attitude. Rather than investing in shares or funds, Germans lost out by keeping… Read More ›
Control of Internet Falling Into Few Hands, Warns Web Security CEO
The internet is increasingly controlled by a select few tech companies, including Google, Facebook, Apple and Amazon even though it was designed to be a massive, decentralized system that nobody controlled. And these companies are continuing to consolidate power, feels the… Read More ›
Ugliest Shoes in the US are a Billion Dollar Market
Ugly shoes are the new craze in America. Stretchy laminated sneakers and weird, fur-striped sandals are being sold by Zara. And celebrities and fashion editors are wearing clunky black-and-white Adidas slippers. Some mystifying, ultra-shaggy slip-ons were designed by Gucci. Awkward, curvey… Read More ›
Research Claims More than$2.5 Billion Hoarded Away by US Firms in Offshore Accounts
According to new research by independent advisory firm Capital Economics, the cash that is held overseas by U.S. firms is very unlikely to be ever repatriated and the report also states that the amount of cash held overseas by U.S…. Read More ›
Fitch says to Watch Out for More in a Record Year of Country Downgrades
2016 seems to be headed towards being a year when rating agency – Fitch Ratings, handed over the most number of sovereign downgrades even while there is over more than three months to go till the end of the year…. Read More ›
Chances of Fed Interest Rate Hike in September Slashed to 25 Percent by Goldman
Noting the absence of a clear indication that the central bank’s rate-setting group was set to tighten policy, Goldman Sachs has trimmed the odds of the U.S. Federal Reserve raising interest rates next week. While raising the odds that the… Read More ›
World’s 3rd Biggest chipmaker set to acquire Intersil Corp for $3.2 billion
This acquisition by Renesas Electronic Corp will result in the diversification of its portfolio and could see its sales chart boom due to the intensifying usage of electronic components in the auto industry. Midst a rising wave of consolidation taking… Read More ›
Hanjin Group’s chairman transfers $36 million to Hanjin Shipping
Hanjin Shipping’s cargo hangs in the balance as it desperately tries to secure additional funds. According to a spokesman of the Hanjin Group, its chairman has transferred $36 million (40 billion won) to Hanjin Shipping today so as to help… Read More ›
Google’s DeepMind Achieves Speech-Generation Breakthrough
A system for machine-generated speech that it says outperforms existing technology by 50 percent has been created by Google’s DeepMind unit, which is working to develop super-intelligent computers. An artificial intelligence called WaveNet that can mimic human speech by learning… Read More ›
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