Uber generated more revenue in 2015 than in the previous year. However, the company experience more losses in order to pursue growth.
Regions
Amazon Offers Full Refunds For Hoverboards, Continues Selling
Amazon, among retailers, has started offering full refunds for hoverboards in US and Canada ahead of growing concerns for reported fire incidences. CPSC is investigating two wheeler balance boards manufactured by 13 companies. Earlier, the retailing giant has offered refund for the UK customers. Intriguingly, hover boards of different manufacturers are still being sold amidst offering refunds.
Portable Ultra Short Throw Projector, Introduced By Sony, Hits Market During Mid February
Sony has unveiled the portable ultra short throw projector first in the IFA Show during September last year. The product is going to be released in the Japan market on February 13 and will be available for around ¥93,000 ($798). Reason for enthusiasm about the tiny projector is that the device is capable of beaming image on wall from very short distance.
Tech Mahindra Manages $200 million For Investing In Startups Across The Globe
World Economic Forum (WEF) meeting is the perfect place to represent future business plans. Tech Mahindra, an Indian IT service provider, has been seeking opportunity to invest in startups since long. Finally, the Indian IT giant has chosen the meeting to elaborate its economic strength, technical know -how and keenness to portray itself as a potential startup investor.
Economists see robust hiring, housing in the US economy
The US economy is witnessing surge in job market and attractive mortgage rates. These positive factors are expected to boost the new home market. The US economy is forecast to grow at 2.7 percent in 2016 from 2.1 percent in 2015. Economists predict that the GDP growth rate may slowdown to 2.2 percent in 2017. The market for new homes grew 15 percent during the first 11 months of 2015.
Latest News
As winter storm is heading toward East Coast this Friday, flight disruption is expected. Airlines are offering refund and waiver to customers whose flight schedule is affected by the snow storm.
A group of students in University of Oslo set a Guinness World Record by lifting a 134.5 pounds (61 kg) payloads with drone. The drone is a multi copter drone made of eight drones chained together.
A recent report showed the declining trend of people to have driver's license in United States. Research was conducted by University of Michigan Transportation Research Institute.
KAIST, a Korean science and technology institute has developed the Fireproof Aerial RObot System (FAROS). FAROS is a sort of drone capable of locating humans’ position trapped inside a sky scrapper through its inbuilt thermal imaging camera. The research team, that invents fire fighting drone, has demonstrated the feasibility of the localization system and wall-climbing mechanism in a smoky indoor environment.
The adverse conditions in the global economy and weaker stocks on Wall Street may prevent the US Federal Reserve from going for a rate hike again. Some analysts forecast four more rate hikes in 2016, while Reuters' poll indicate three times hike this year. The slump in commodities, weaker global markets, slowdown in China's economy and lower oil prices are causes of concerns for the US Fed as these are upsetting the Wall Street.
South Korean currency Won has been volatile as it hit five-year low and recovered marginally. Won was tracking to Chinese currency Yuan as the dragon country is the major foreign market for South Korea. China's GDP rose 6.8 percent during fourth quarter marginally lower than the forecast of 6.9 percent. This disappointed the market.
Saudi Arabia and other Gulf nations are buying thousands of acres in the US. Recently, Fondomonte California has purchased 1,790 acres of farmland in California. Almarai bought 10,000 acres of farmland in Arizona two years back. These companies have cultivating alfalfa hay and exporting back it to feed dairy herds. Local farmers in California and Arizona are expressing concerns over drop in groundwater table.
Saudi Arabia has ruled out allegations that Iran has been targeted in the oil price war. Saudi Arabian foreign minister said that it's demand-supply situation that determines price in the global oil market. The low price is also hitting US shale oil, which involves high cost of production.
Luxe valet parking app is partnering with Tesla. The two-year old tech startup will provide Tesla owners in New York and San Fransisco its on-demand valet parking service.
