A US Court has rejected $12.25-million legal case between Lyft and its drivers. Lyft and attorney of drivers need to sit back again on further discussions after the latest judgment.
Regions
U.S. Consumers Prefer Sweeteners Made From Sugarcane Over Sweeteners Made From GMO Beets
Mexico will ship up to 500,000 metric tons of sugar to U.S. without any modification on the agreement being signed by the two nations on December 14. U.S. consumers prefer sweeteners from sugarcane over sweeteners manufactured from genetically modified beets.
Kansas City Says Farewell to Google Fiber's Free Internet Option
Google Fiber is now phasing out its free internet option in Kansas City. For existing customers, they may continue usign the service. For subscribers to take advantage of the free internet option, they have to pay an installation fee of $300.
British Retailer Iceland Innovates to Take On German Competitors
In a battle with German's budget stores, Aldi and Lidl, Iceland introduces its food warehouse concept. The concept is an advancement of its old style format with cash-and-carry style.
Venture Capital Investment in China Surged Amidst Global Slowdown
Investments in Chinese tech companies had a 50% surge in the first quarter of 2016. Nevertheless, many of the investments were spent in the big startups.
Latest News
European banking regulators have begun probing links between banks and tax havens in the wake of leakage of Panama Papers. Switzerland's financial watchdog FINMA has cautioned banks to crack down on money laundering. Geneva has also commenced a criminal enquiry into banks dealing with tax havens in the wake of Panama Papers.
Verizon Communications Inc will bid for Yahoo's web business, while Alphabet Inc's Google unit is also exploring options on bidding for it. Additionally, Verizon may also make an offer for stake in Yahoo's Japan subsidiary.
Exxon Mobil Corp will pay $10.75 million to New York State reimbursing costs on oil spill cleanup. The payment will cover New York Environmental Protection and Spill Compensation fund's costs.
South Africa is experiencing wheat shortages prompting grain importation. The increased tariff has been approved but Treasury requested the Trade and Industry sector to review it as it will affect the prices of staple food.
The inability to access export finance is causing sales loss for several US majors including Boeing Co. The board of US Export-Import Bank is yet to be accommodated with a third member, without this export finance exceeding $10 million can't be approved.
Oil price, Asian stocks and bond yields were trading marginally higher on Friday ending the week on positive mode. Japanese currency Yen continued to rise against US dollar and this also further aided Asian stocks.
Argentina government will market its $12.5-billion bond offer in North America by organizing road shows in New York, Washington and Los Angeles. The $12.5-bln bond offer will be marketed in the US and the UK.
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Google will provide seed funding in Asia's renewable energy that will start off in Taiwan. Through the Center for Resource Solutions, the funds will be used to set up renewable energy certification programs.
