Chancellor George Osborne has announced a £1-billion rescue package for trouble-hit North Sea oil industry. The government is also extending £730 million support for renewable electricity.
Sectors
China's consumers spending rise on spas, travel, entertainment
Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
China's Anbang to Acquire Starwood Hotel Group At More Than $13 Billion Bid
Starwood is about to dump Marriott's offer in favor of Anbang's more than $13 billion bid for the acquisition. If the deal pushes through, Starwood will pay Marriott a breakup fee of $400 million. Marriott has been given five days to counterbid.
U.S. Competes with China for Business and Influence in Cuba
China and U.S. has been competing for a place in the economy and politics of Cuba. China has been doing business with Cuba for several years and the U.S. is just making a start. The edge that Washington sees is the proximity as being Cuba's neighbor.
Bankruptcy Looms Over Peabody Energy, Files Chapter 11 Sooner or Later
Peabody is facing difficulties as it shares declined sharply the past year. It is considering to file Chapter 11 sooner or later to protect it from creditors while restructuring the company and recovers from the large loss.
Latest News
The streaming service company on Wednesday reached the deal over music royalties with the National Music Publisher's Association (NMPA). Spotify will pay $21 million worth of royalty to publishers and songwriters.
Following Valeant Pharmaceuticals' meltdown, S&P rating service puts Pershing Square Holdings Ltd on review. However, S&P acknowledged swift decision by the firm to strengthen its liquidity after a massive loss.
Following another quarterly loss, the clothing company is in rush to find the best option. That includes putting the company on sale.
Pacific Exploration & Production Corp is actively examining six buyout offers. The Canada-listed company is in the process of avoiding bankruptcy. The company's board is likely to take its final decision by this weekend.
Alphabet's Google has landed Apple as a customer for its cloud computing platform. Apple has started to store part of its cloud service in Google cloud platform, while also building its infrastructure.
Google launched new product targeting enterprise marketers on Tuesday. The Google Analytics 360 Suite will go head to head with Adobe and Oracle product in enterprise Internet marketing.
Domino’s Pizza has unveiled an exciting way to deliver their hot and sumptuous pizza. The pizza chain introduces Domino’s Robotic Unit or DRU, which can hold up to ten pizzas and travels at 20 km/h.
South Africa's energy crisis will now be answered by the launching of the largest solar farm built in Northen Cape. It could generate power that could supply electricity from renewable energy to 75,000 households yearly.
Central bank of Chile has not changed its key interest rate for three months in a row even though it recorded the slowest economy growth rate in six years in January 2016. The inflation rate is alarmingly at 4.7 percent above the two percent target of Chile government.
