General Nutrition Corporation or GNC is on the hot seat as it is being accused of selling dietary supplements incorporated with illegal additives. Along with other sellers, GNC received notification letters from the New York Attorney General's office saying that it had been unable to verify several supplements contained in the label or some ingredients are not listed in the label.
Sectors
Sweden to cut spending, borrows more to accommodate overwhelming refugees
With the hordes of refugees crossing its borders, Sweden needs extra $7 billion in 2016 and $8.2 billion every year until 2019 to provide for the needs of the people seeking asylum in the country.
Saudi Arabia may face cash crunch after 5 years
The indications are strong such that mighty Middle East (ME) region also may not sustain cheaper oil prices for long. If oil price continues to hover at $50 per barrel, the majority of Gulf nations will run out of cash in the next five years, according to International Monetary Fund (IMF). There's no exception to Saudi Arabia, the leader of Organization of Petroleum Exporting Countries (Opec), Oman and Bahrain. The oil price drop is expected to pull $350bn out of the ME region this year alone. The current account deficit of Saudi Arabia may touch 20 percent of its GDP this year.
Self-lacing shoes from Back to the Future comes alive
Nike prepares to launch shoes from future, as portrayed on a classic sci-fi action movie, Back to the Future. After securing the patent for its self-lacing shoes, the shoes will be ready to enter the market in the near future.
Goldman Sachs' social impact investment showed successful result in Utah
Goldman Sachs found its pre-kindergarten program in Salt Lake City had worked for both sides: the state, and the company itself. The program was conducted by Utah Voices for Children and was set to expand the spots in the program for 600 children. All of the children involved in the program were from low-income families, and 110 were expected to need special education in elementary school.
Latest News
A voluntary recall had been announced by Toyota Motors around the globe due to a defective power window switch that could overheat, melt and lead to fires. According to Toyota, The recall includes 2.7 million vehicles in North America, 600,000 in Japan, and 1.2 million in Europe. The cars involved are Yaris, Corolla, Matrix, Camry, RAV4, Highlander, Tundra and other models, as reported by NBC New York.
Trinity Industries Inc stated that it would resume selling guardrail products, called ET-Plus Systems, despite the study over the products safety. The company has been accused of making guardrails that can malfunction and impale drivers.
Huawei Technologies Co. dislodges Xiaomi Corp. from its position as the biggest smartphone maker in China. The company sold 27.4 million devices in the quarter ended September 30, according to reports citing data from research firms. That's up 81% from the previous year.
Blackberry is officially taking pre-order for the Blackberry Priv, the company's first Android-based smartphone. Blackberry Priv was first announced last month. The phone features a touchscreen, slide-out keyboard, and Blackberry's security software.
Healthcare.gov opens for windows shopping starting on Sunday. The updates allow the health care consumers to see the cost and benefits of insurance plans for 2016.
The world's largest online retailer has posted encouraging performance for the third quarter ending September 2015. The higher sales in the US and cloud computing business pushed its bottom line to swell. Amazon announced profits for the consecutive second month. Adding to this, the cost control measures and expanding beyond online marketing helped Amazon perform better. Amazon Web Services (AWS) propelled Amazon's overall revenues to grow further.
The great Abbey Road Studios is entering into the tech industry as it wanted not only to act as a recording studio but also as a music technology incubator. The plan was revealed by the Universal Music Group in a ceremony at the Studio 2 on Wednesday night. It will assure their continued reliability amidst technology era.
Google's parent company, Alphabet Inc recorded a better than expected revenue after its third-quarter report shows that its revenue has increased by 13 percent. The great return report, together with an announcement of buyback for its class C shares had sent the company's share price to break previous resistance to a new high.
Hyundai Motor Co's net profit for the third quarter ending September fell 23 percent. The steep fall in China sales coupled with aggressive global incentives impacted the South Korean automobile major's performance in a more negative way.
