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Oil prices decline

Oil prices decline

New York, July 28 : Oil prices dropped on Wednesday as government data showed US crude stockpiles gained unexpectedly, deepening market concerns on oversupply.

The West Texas Intermediate for September delivery lost $1.00 to settle at $41.92 a barrel on the New York Mercantile Exchange, while Brent crude for September delivery erased $1.40 to close at $43.47 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.

The Energy Information Administration (EIA) said in its weekly report on Wednesday that US oil inventories rose 1.7 million barrels last week to 521.1 million barrels, ending a 7-week streak of declines and beating market consensus of a 2.3-million barrels decrease.


Verizon to acquire Yahoo’s operating business

Verizon to acquire Yahoo’s operating business

California, July 26 : Verizon Communications Inc. and Yahoo! Inc. on Monday announce they have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments.

Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also connects advertisers with target audiences through a streamlined advertising technology stack that combines the power of their data, content and technology.


US aircraft sales to Iran blocked by House amid security concerns

US aircraft sales to Iran blocked by House amid security concerns

Washington, July 9 : The U.S. House of Representatives has passed a measure to block aircraft sales to Iran, potentially undercutting a Boeing deal with Tehran.

Two approved amendments to an appropriations bill from Representative Peter Roskam would ban the sales from Boeing and European rival Airbus amid concerns the aircraft could be used for military purposes, reports the Guardian.

The first amendment would prohibit the Office of Foreign Assets Control from using funds to authorise a license necessary to allow aircraft to be sold to Iran and a second would bar loans from US financial institutions to purchase militarily adaptable aircraft.

However, the ban would need to be approved by the Senate.


Samsung top-selling smartphone brand globally: Report

Samsung top-selling smartphone brand globally: Report

New York, June 15 : South Korean smartphone giant Samsung sold the most number of smartphones worldwide in the first quarter of the year and is expected to sell 320 million smartphones by the end of the year, a new report said on Wednesday.

According to US-based market research company IC Insights, buoyed by the strong sales growth of Galaxy S7 and S7 Edge, Samsung sold 81.5 million smartphones, followed by Apple with 51.6 million smartphones -- in the first quarter.

Although the list of top 12 smartphone makers is dominated by China-based smartphone suppliers -- taking eight spots in the list -- Indian smartphone supplier Micromax broke into the list for the first time.


Amazon will invest another USD 3 bn in India: Jeff Bezos

Amazon will invest another USD 3 bn in India: Jeff Bezos

Washington, June 8 : The US-based global e-commerce major Amazon.com had pledged another USD 3 billion investment in India as it bets big on the USD 14 billion e-retail space in the country that's projected to grow to USD 55 billion by 2018.

"We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy," said Jeff Bezos, Founder and CEO of Amazon.com at an gala hosted by the US-India Business council for visiting Indian Prime Minister Narendra Modi here.

"Our Amazon.in team is surpassing even our most ambitious planned milestones, and I'm pleased to announce today that we'll invest an additional $3 billion on top of the $2 billion that we announced in 2014, bringing our total investment in India to over $5 billion."


Amazon CEO sees 'huge potential' in India, to pour additional $3 billion investment

Amazon CEO sees 'huge potential' in India, to pour additional $3 billion investm

Washington D. C., June 8 : Amazon Inc Chief Executive Jeff Bezos on Tuesday said his company would invest an additional $3 billion to expand its business in India, taking the leading online retailer's net investment in the country to over $5 billion.

Bezos said at the U. S.-India Business Council's Leadership Summit in Washington, where Indian Prime Minister Narendra Modi interacted with the executives from the U. S. companies. Prime Minister Modi also presented Global Leadership Awards to Bezos and Sun Pharmaceutical Industries promoter Dilip Shangvhi.


India's biggest challenge at June 9 NSG meet will be to deal with China's two-faced nuclear policy: US experts

India's biggest challenge at June 9 NSG meet will be to deal with China's two-fa

Washington D. C., June 5 - India's biggest hurdle at the upcoming Nuclear Suppliers Group (NSG) Meeting on June 9 will be to overcome China's two-faced policy of opposing India's application to join the group on the one hand and on the other violating NSG terms by supplying banned nuclear materials to Pakistan.

Analysts in the United States believe that India's NSG application is in a precarious position for several reasons, chief among them being China's assertion that if the NSG countries make an exception for India, they should do the same for Pakistan, even though Pakistan has been caught selling nuclear weapons secrets to Libya and was named and shamed globally.


Managing work and family life not easy: Indra Nooyi

Managing work and family life not easy: Indra Nooyi

New York: PepsiCo's India-born CEO Indra Nooyi has acknowledged that managing her family life and work was "not easy" and while she does not regret pursuing her career, she is filled with "heartaches" for not? spending as much time with her daughters when they were growing up.

In a candid discussion, Nooyi, among the only 4 percent women who are currently CEOs of S&P 500 companies, said she would tell her younger self to be "careful" of the choices she would make since missing out on her children growing up will eventually "hurt".

"Not easy," Nooyi said at the Women In the World Summit here when asked how it was for her balancing her personal life while moving up in her career.


McDonald's to open 1,300 outlets in China

McDonald's to open 1,300 outlets in China

Washington, April 1 : Fast food giant McDonald's has planned to open approximately 1,300 fast food restaurants in China over the next five years, CEO Steve Easterbrook announced.

Easterbrook said that the firm wants to make China its second largest market worldwide, behind only the US, EFE news reported.

Easterbrook said that the aim is to open some 250 restaurants this year, and to do that the firm will seek an investing partner to participate in broadening its franchise business in China, where McDonald's currently operates some 2,200 stores.


Starbucks gets sued for not filling cups to rim

Starbucks gets sued for not filling cups to rim

Washington D. C., Mar. 18 : Two Starbucks fanatics filed a lawsuit against the leading cafe franchise for refusing to fill their cups to the rim.

The duo said, every time they order a tall, grande or venti-sized latte, it's grossly under-filled, reports News. com. au.

Pointing out the menu which promises 12, 16 and 20 ounces, they said that according to research, Starbucks under-fills those cups by about 25 percent every time.

In the class action suit, they admitted occasionally the milk foam on top gets to the rim, but also added that "in the food science community, as well as in the weights and measures community, foam is not measured on a volumetric basis."

Now they are seeking damages for Starbucks latte drinkers all across the country. (ANI)


Uber unveils 800 number for emergencies

Uber unveils 800 number for emergencies

New York, Mar.11 - American multinational online transportation network company Uber has unveiled a phone number for passengers and drivers to get in touch with the company in case of an emergency.

The move comes after Uber faced questions about a panic button in the wake of a deadly shooting in Kalamazoo, Michigan by an Uber driver last month, the Verge has reported.

"In the United States, 911 is the panic button and it's the panic button that we want people to use. It's the panic button that law enforcement wants people to use. And we don't want to try and replace that," said Joe Sullivan, Uber's head of security.


WTO rules against India on US solar exports

WTO rules against India on US solar exports

Washington, Feb 25 - In a setback to India, a World Trade Organization (WTO) dispute settlement panel has ruled in favour of the US in its challenge to New Delhi's alleged discrimination against US solar exports, according to US Trade Representative (USTR).

The panel agreed with the US that India's "localisation" rules discriminated against imported solar cells and modules under India's National Solar Mission, according to an official news release citing USTR Michael Froman.

India's domestic content requirements, it agreed, discriminate against US solar cells and modules by requiring solar power developers to use Indian-manufactured cells and modules rather than US or other imported solar technology in breach of international trade rules.


US dollar falls amid diving oil

US dollar falls amid diving oil

New York, Feb 20 - The US dollar decreased against most major peers on Friday as plunging oil prices raised market demand for safe-haven currencies, including the Japanese yen and Swiss francs.

Oil prices declined sharply on Friday, with both the US oil and Brent crude slumping over three percent, after government data showed a rise in the US crude stockpiles.

The yen and Swiss francs climbed 0.55 percent and 0.26 percent respectively against the greenback during the session, as the falling oil renewed market worries about global economic growth, triggering demand for safe-haven assets.

The dollar index, which measures the greenback against six other currencies, was down 0.33 percent at 96.634 in late trading, reports Xinhua.


Silicon Valley wants 'dramatic expansion' of H1-B visa: Veritas CEO

Silicon Valley wants 'dramatic expansion' of H1-B visa: Veritas CEO

Washington: With IT firms struggling to find quality and right number of professionals, a top American CEO has called for a "dramatic expansion" of the H-1B visa scheme -popular among Indian tech firms- to meet the growing demand.

"The entire Silicon Valley believes that the H-1B visa policy needs to be dramatically expanded," Bill Coleman CEO of Veritas told PTI in an interview.

"We can't hire enough good people. They are just not available here. The salaries here are going through the roof, because everybody is competing to hire from everybody else," he said. Coleman, a former chairman of Silicon Valley Leadership Group, is involved with the Silicon Valley for about 40 years.


US approves sale of eight F-16 jets to Pak

US approves sale of eight F-16 jets to Pak

Washington, Feb. 13 : The United States Government said that it has approved the sale of eight F-16 fighter jets to Pakistan built by Lockheed Martin Corp, radar and other equipment in a deal valued at 699 million dollars.

The Dawn reports that Pentagon's Defence Security Cooperation Agency which oversees foreign arms sales said it had notified lawmakers about the possible deal.

The proposed deal will go through a 30-day notification period after which it will be finalized.

The agency said that F-16s would allow Pakistan's Air Force to operate in all weather environments and at night, improving its self- defense capability and bolstering its ability to conduct counter-insurgency and counter-terrorism operations.

India said it was disappointed with decision of US.


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