SunEdison is about to file bankruptcy protection to safeguard itself from creditors while trying to recover from its losses while it continues to operate. At the same time it is being investigated by the Securities and Exchange Commission over possible overstating.
Sectors
Volkswagen to Recall 91,000 Vehicles With TDI Engines Over Fire Risks
Volkswagen will start recalling 91,000 of its Passat 2012-2014 models in the U.S. over problems with the vehicle’s connector that could cause overheating and electrical short. The automaker is lately being clouded by scandals regarding emission and its vehicles.
Dick Cook Studios Secured $500 Million Production Funding from Chinese Movie Company Film Carnival
American movie studios are getting closer to Chinese firms as sources of funding. Dick Cook Studios has just secured $500 million in production deal with China’s Film Carnival. The studio is working on the first film under the deal.
Google Deleted Taliban-Developed App From Play Store
The Taliban-developed app was called Alemarah that enables viewing and reading in Pashto. It was deleted from Google’s Play Store within a short time after a report from SITE Intel Group. The app was available in five different languages including Arabic and English.
Smaller airlines upbeat on Virgin America acquisition
Virgin America, Billionaire Richard Branson's small carrier, is on the block and this is attracting other smaller airlines to bid for it. Airlines in the US are making more profits owing to cheaper oil prices. Acquisition route is ideal for smaller airlines to expand further.
Latest News
Frozen broccoli cuts have been recalled from 11 states that have been distributed with 1,800 cases which could be contaminated with Listeria monocytogenes. The infection affects young and old and can cause slight to severe infections with symptoms like high fever, abdominal pains and diarrhea to name a few aside from miscarriage and stillbirth.
BayWa has partnered with Spruce Finance to provide finance products for its solar distribution clients in the US. With regard to this partnership, dealers across the US will have access to loan products from Spruce Finance.
The service sector of Britain posted a 2.8% growth in January, accounting for roughly 80% of the nation's economy. The country's GDP increased by 0.6% during the fourth quarter of 2015.
People and business leaders protested State of North Carolina that restrict protection on LGBT people. The state's law was signed Wednesday by Governor Pat McCrory.
Microsoft started to ship the Development Editions kit for HoloLens on Wednesday. With its augmented reality device, the company offered a new perspective in virtual reality realm.
A unit of China's Guosen Securities in Hong Kong have defaulted on a dim sum bond. However, analysts doubted the default as the brokerage is in a strong cash balance.
Meketa Investment Group has increased its employee ownership team. It has included seven new shareholders into employee ownership team. Meketa is optimistic on adding new expertise and talent that supports its business expansion plan across different geographies.
The world's second largest economy showed positive signs as resurgent sales in the real estate sector boosted growth during March. However, China recorded drop in exports and freight segments.
McDonald’s is planning to extend its fast food empire to Asia by opening additional restaurants in Hong Kong, South Korea and China. It is also seeking strategic partnership in Japan and Taiwan.
