Billionaire investor Carl Icahn has bought 7.13 percent stake in Xerox Corp. Carl Icahn's statement terming the shares of Xerox are undervalued has triggered the price rise in stock. The stake sale will pave the way for strategic changes at Xerox Corp. Icahn will represent on Xerox's board and is expected to take up enhancing of operational performance.

Audi admitted that there are some 85,000 more Volkswagen cars with illegal defeat devices that can disable emissions control functions. According to Digital Trends, the vehicles are U.S.-spec cars with 3.0-liter TDI V6 engine, which are typically under the hoods of Audi models like the A6, A7, A8, Q5, and Q7.

It is to everyone's knowledge that there is a growing demand for virtual reality technology in the global market. It has enabled many tech-oriented companies to step up the ladder to acquire the technology to upgrade their sales and reputation, Apple being one of them.

The skyrocketing oil inventories are paving the way for more traffic jams on the seashores as oil tankers are queuing up along the US Gulf Coast. The uncompromised Opec's decision to continue its production level coupled with shale production in the US is adding to huge volumes of inventories.

The billionaire investor Mr. Ackman's Pershing Square Capital Management was one of the largest stock holders of Valeant Pharmaceuticals. Ackman has perceptively made his position in Valeant far more important by raising its stake from 5.7% to 9.9% recently. Now, Pershing is the second largest shareholder in Valeant followed by Sequoia Fund led by Ruane, Goldfarb and Cuniff.

Alberta Premier Rachel Notley said Sunday that the New Democratic Party will limit oil-sands emissions, discontinue coal power plants, and create an economy-wide carbon price as part of a strategy to reduce pollution in Canada's most polluting province.

Chinese billionaire Liu Yiqian can now fly in first class anywhere in the world for free, after he bought a $170 million painting. Liu Yiqian won a bidding war for "Reclining Nude" painting at Christie's auction in New York earlier this month. "Reclining Nude" was painted between 1917 and 1918 by an Italian artist Amedeo Modigliani.

Korean biggest technology company, Samsung today announces that its Samsung Pay service is now accepting credit and debit card from Chase Banks. The new announcement set its service in par with other rivals such as Apple Pay and Android Pay.

CVC Capital Partners and Canadian Pension Plan Investment Board (CPPIB) are in the advance stage of closing the acquisition process for the takeover of Petco for $4.7 billion.

In order to strengthen New York's ability to fight with ever-rising terrorism, Gov. Andrew Cuomo has taken strong measures. He has announced two exceptional efforts including latest terrorism preventing 'See Something, Send Something' app to help and put an end to terrorism.