Malaysia has trimmed its growth forecast mainly due to plunging oil prices. A miscalculated assumption has messed up the 2016 budget, which has the government groping for damage-control measures. One of the key outcomes were increasing the household spending of the country, which can give the sluggish economy a much-needed boost.
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Iowa Fast Foods Workers’ Strike On The Day of Republican Debate Possibly To Embarrass President Hopefuls
The Republican Debate is going to be held in Iowa State on Thursday. The fast food workers under the banner of ‘$15 per hour minimum wage movement’ have called strike on the very day apparently due to gain media attraction. The strike has been called demanding immediate implementation of the said minimum wage rate across the country and union rights. However, the demands have already been supported by many Democratic candidates and furnished in their election manifesto.
Pound gains as UK economy grows in Q4
The British Pound strengthened against major global currencies after a report on UK's GDP growth. The report said that UK's economy speeded up during the fourth quarter of 2015. The rise in consumer demand helped the economy expansion. The British Pound recovered from the two-week low of 1.4338 against the US dollar to at $1.4314.
Anglo American's copper output up 23% in Q4
Anglo American's copper production and from retained operations rose 23 percent for the fourth quarter of 2015. The overall copper equivalent basis production for 2015 rose five percent when compared with 2014. Majority of metals including copper, coal, nickel and iron ore tumbled during the second half of 2015. The copper inventory of Anglo American was at 197,631 tons as on 2015.
Researchers Develop Non-Invasive Electric Patch To Treat Post-Traumatic Stress Disorder (PTSD)
Researchers at the University of California, Los Angeles developed a non-invasive electric patch to treat the symptoms of Post-Traumatic Stress Disorder (PTSD). The electric patch uses trigeminal nerve stimulation (TNS) technique to stimulate the nucleus tractus solitaries to produce pain killer compounds in the brain.
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Boeing To Reduce Production In 2016, Orders For 6000 Aircraft By No Means Indicate Decaying Business
Boeing has announced reducing production during 2016. The news has caused US Aerospace Share prices to go down by 9% on Wednesday, which has regained a little on Thursday. The production cut is not due to tattering financial condition of the aircraft manufacturer, but it is related to a transforming strategy. Still the manufacturer holds orders for delivery of around 6,000 aircraft, which represents a different tale.
Aedes mosquitoes are the bearer of Zika virus which is available across the US. WHO warns the US for a probable Zika virus induced epidemic. Brazil has appeared as the most Zika affected country. The US and other governments have issued a travel alert for the pregnant women forbidding to visit the Zika prone region. The travel alert has offbeat the organizers of the Rio de Janeiro olympic scheduled to be held in August.
Movidius, a chip maker, working on neural network technology has announced collaborations with Google on Thursday. Under the partnership agreement, Google will arrange license for some low power chips of Movidius. In return, the search engine provider will be able to use the machine learning and computer visioning technologies to its mobile devices. Computer visioning capabilities will enable users to experience low latency on their mobile devices.
Gold soared to three-month high early this week as investors switched over to safe have following the concerns about the global economy. The US Federal Reserve indicated a challenging global economy and this may not prevent it from raising interest rate. Gold price reached to $1,127.80 on 27 January and this propelled investors to book profits.
The average gasoline price fell to seven year low and is hovering at $1.91 per gallon in the US. If crude oil price continues to move upwards, then the gas price fall may rebound in the near future. According to AAA, the average may not go above $3 a gallon in 2016. Gasoline price fell 14 cents during the past two weeks.
The US housing market was boosted at the end of the year 2015 that marked the best year for existing and fresh home sales since 2007. Nearly 501,000 fresh homes were sold the previous year, an increase of 14.5% from 2014.
President Obama has rolled out a new set of regulations that lifts the Cuban trade embargo to a certain extent. The relaxed rules allow easy facilitation of trade, travel and finance between the two governments, a move taken to end the age-old cold war between them. While the embargo cannot be lifted completely unless Congress gives their consent, the Obama administration is convinced that this is a step in the right direction for improving the condition of the island.
The businessman is considered as one of India’s most active investor. Ever since he retired as the Tata Group chairman, Ratan Tata has backed more than 20 startups until now. He is especially experienced in the tea markets, and Teabox is delighted to have him as an advisor as well as an investor.
The policy making committee of the Federal Reserve Bank has announced keeping key interest rates unchanged on Wednesday. The inflation rate exists below predictions and job growth remains satisfactory. But ahead of global economic turmoil and considering strong Dollar outlook, Fed has decided to let the tightened monetary policy to go further. However, it hints for hiking interest rates during its next meeting scheduled to be held in March.
