Business News

China launches world's longest train route from Yiwo to Madrid

China launches world's longest train route from Yiwo to MadridWashington, Nov 22 : China has launched an 82-wagon cargo train that will take 21 days to travel 6,200 miles and pass through six other countries as it moves goods from the industrial city of Yiwu to the Spanish capital, Madrid marking the longest route taken by a freight train.

According to Washington Post, on November 18, the freight train left the eastern Chinese industrial city of Yiwu.

The train route is longer than Russia's famed Trans-Siberian Railway.

Yiwu is the largest wholesale center for small consumer goods in China. Now the city is plugged into a larger project with the freight train.


Harold Hamm's ex-wife calls $1 b divorce settlement 'disappointing'

Harold HammWashington, Nov 15 : The multibillionaire energy tycoon Harold Hamm's ex-wife has planned to appeal a court ruling that awarded her nearly 1 billion dollars in a divorce settlement.

Attorney Ron Barber said that Sue Ann Hamm is disappointed in the outcome of this case as she dedicated 25 years as the 68-year-old oil baron's faithful partner in family and business, the Oklahoman reported.

Harold was told to pay her about 322 million dollars by the end of the year, followed by monthly payments of at least 7 million dollars until the remaining 650 million dollars is paid.


India, US resolve WTO food subsidy row

India, US resolve WTO food subsidy rowWashington DC, Nov 13 : The United States of America on Thursday welcomed the agreement between New Delhi and Washington DC to resolve the food security row and the unlocking of progress at the World Trade Organisation (WTO).

This agreement will pave the way for full implementation of the Trade Facilitation Agreement (TFA), the first multilateral trade agreement to be concluded in the history of the WTO, and reflects shared understanding regarding the WTO's work on food security.


US District judge asks Apple to face lawsuit over disappearing iMessages

US District judge asks Apple to face lawsuit over disappearing iMessagesWashington, Nov 12 : A US District Judge has asked Apple to face a lawsuit filed in May over disappearing iMessages.

US District Judge Lucy Koh of San Jose, Calif. said that the company was answerable to a federal lawsuit filed in May that alleged the company didn't notify consumers about potential headaches when ditching their iPhones, CNET reports.

Apple's iMessage service that lets users to send notes or messages to one another through Apple's encrypted communication network, doesn't work on phones powered by Google's Android, Microsoft's Windows Phone or any other non- Apple operating system.


Steve Wozniak criticizes Apple, Tim Cook for delayed launch of larger-screen iPhones

Steve Wozniak, Tim CookWashington, Nov 12 : Apple's co-founder Steve Wozniak has criticized the company and Tim Cook for delaying the launch of large-screen iPhones in the market by three years.

According to Washington Times, Wozniak said Samsung's 24 percent share of the smartphone market wouldn't dwarf Apple's 12 percent if it had responded more quickly to consumers' changing tastes.

Wozniak, who left Apple in 1987, told CNN that Apple could have had a much bigger share of the smartphone market if it had a larger-screen iPhone for the past three years.

He added that the company would have competed better with Samsung had it released large-screen phones earlier. (ANI)


AOL's Q3 earnings surpass sales expectation

AOL's Q3 earnings surpass sales expectationWashington, Nov 07 - AOL reported its Q3 earnings that saw the company surpass expectations on sales but falling short on operating income (OIBDA).

According to Tech Crunch, the company reported revenues of 626.8 million dollars, EPS of 0.52 dollars and adjusted operating income of 121.8 million dollars. Analysts were expecting sales of 623 million dollars, EPS of 0.52 dollars and OIBDA of 125 million dollars.

Display sales on AOL properties saw a decline as it slumped to 141.5 million dollars from 141.9 million dollars as compared to a year ago. (AOL rounds that to 0 percent change).


Internet ad spending in U.S. set to surpass T.V. advertising by 2019

Internet ad spending in U.S. set to surpass T.V. advertising by 2019Washington, Nov 05 - Online ad spending in the United States may takeover TV advertising by 2016 and reach 103 billion dollars as compared to 86 billion on T.V. by 2019, according to a report by market researcher Forrester.

In all, digital ads by 2019 will account for 36 percent of all ad spending, above 30 percent for TV, said the report.

At present, TV advertising remains the biggest advertising platform, but broadcast and cable companies face increasing pressure to adapt to changing consumer habits.


Smartphones still only account for 70 percent of total mobile shipments

Smartphones still only account for 70 percent of total mobile shipmentsWashington, Oct 31 : Smartphone share of the overall mobile phone shipments remains flat at 70 percent from past two quarters, though it has increased year over year.

Executive director at Strategy Analytics, Neil Mawston said that for the smartphone share to increase, prices have to come down so more users in parts of the world such as Africa and India can afford them.

Today the cheapest smartphones cost about 35 dollars at wholesale, but prices under 20 dollars are needed. Getting there will take a couple of years, at least.


USAID administrator Shah to visit India to attend World Economic Forum

USAID administrator Shah to visit India to attend World Economic ForumWashington DC, Oct 31 : U. S. Agency for International Development (USAID) administrator Rajiv Shah will undertake a two-day trip to India beginning on November 4 to attend the World Economic Forum (WEF) .

He will also participate in bilateral meetings with government officials in India.

Shah will also attend WEF sessions related to food security and financial inclusion; moderate a panel entitled "New Pathways to Sustainability" on food and water security in India; and meet with members of the Indian private sector on a range of development issues. (ANI)


Softbank makes 210M-dollar investment in Indian cab service 'Olacabs'

Softbank makes 210M-dollar investment in Indian cab service 'Olacabs'Washington, Oct 28 - Japanese tech powerhouse, SoftBank has confirmed that it has led a 210 million dollar investment in Olacabs, an Uber-style service in India that aims to use technology to dominate the car-for-hire service in India.

The Japanese company also invested 627 million dollars in another Indian e-commerce company recently, TechCrunch reported.

Other investments in India include mobile ad startup InMobi and Bharti.

Chairman and CEO of SoftBank Corp, Masayoshi Son said that since SoftBank's foundation, their mission has been to contribute to people's lives through the Information Revolution, report said.


Yahoo keen to invest in messaging app Snapchat

YahooWashington, Oct 04 - Yahoo is reportedly planning to invest in the popular messaging app Snapchat that allows users to send messages that disappear after a few seconds after being opened.

CNET reports that the investment round would value Snapchat at 10 billion dollars, though it remains unclear as to how much Yahoo would invest.

The news of Yahoo's investment plans come while investors anticipate Yahoo CEO Marissa Mayer's next moves following increased scrutiny of the company over the Alibaba IPO.

Yahoo received a bonus of over 8 billion dollars for selling 6 percent of its stake in the Chinese company.


Now pay through Bitcoin on PayPal

Now pay through Bitcoin on PayPalWashington, Sep 24 : Online payment service PayPal has reportedly partnered with three leading Bitcoin payment processors, and now it will enable limited support for the digital currency.

North American Merchants selling intangible goods such as music, games, and ringtones may now accept Bitcoin through PayPal Payments Hub, the company's service for digital goods retailers, The Verge reported.


Mobile advertising market grows fastest in India among all Asia Pacific countries: Report

Mobile advertising market growsWashington, Sep 15 : According to the State of Mobile Advertising report, India is the most powerful driver of the Asia Pacific mobile advertising market with mobile-ad impression percentage growing by 260 since July 2013.

It is due to the fact that in India, there has been a rapid shift from feature phones to smart phones which is primarily dominated by Android operating systems.

Mobile application stores, gaming and education sites are extremely popular among Indian users, reported Enterprise Innovation.

Advertisements served are generally for games and mobile devices representing nearly half of all impressions.


Twitter sees mixed reactions on iPhone 6, Apple Watch launch

Twitter sees mixed reactions on iPhone 6, Apple Watch launchWashington, Sep 10 : Apple launched its much anticipated products, the iPhone 6 and the Apple watch on Tuesday which raised mixed reactions on Twitter.

Some users expressed that they are desperately waiting for the watch, some cracked some jokes about the products, while there were some people who criticized the products.

One of the users posted on Twitter that 'I just want to buy the iPhone 6. Where is it why is it not here yet. I can't wait another hour' while another wrote that 'Oh iPhone 6... I can't wait to meet you!'


Tim Cook believes Steve Jobs would be smiling on Apple's achievements

Tim Cook believes Steve Jobs would be smiling on Apple's achievementsWashington, Sep 10 : Apple CEO Tim Cook remembers Steve Job on the launch of the iPhone 6, and he believes that Jobs would be smiling for Apple's achievement.

Tim Cook said that they have launched the biggest advancement in the history of iPhones.

Cook made the big unveiling announcement from the Flint Center stage in Cupertino, the same stage where the company's late co-founder Steve Jobs unveiled the Mac computer 30 years ago.

Cook said that he thinks about Steve a lot. He loves Steve dearly and there's not a day that goes by that he doesn't think about him, and at the launch he especially thought about him.


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