Pfizer Inc. has failed again in enforcing its intellectual property rights in India. The giant pharmaceutical's patent on its rheumatoid arthritis drug, Tofacitinib, was rejected in the country.
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After 25 years, China revises down GDP growth to 7.3%
The growth rate of China's economy for 2014 has revised marginally lower to 7.3 percent from previous forecast of 7.4 percent. The drop in services sector weighed more on gross domestic product (GDP). According to the latest data from National Bureau of Statistics (NBS), the GDP stood at 63.6 trillion Yuan ($10 trillion) in 2013 and this was 32.4 percent lower than earlier projection. The latest data casts shadow over the Chinese government's target of seven percent for 2015.
Facebook Waits To Hit A Billion Users For Messenger Before Turning It Into A Meaningful Business
Investors have been asking about how Facebook's Messenger can earn more money. CEO Mark Zuckerberg revealed plans during the earnings call on how Facebook will bring more dollars to its recently acquired messaging app.
Zomato restaurant discovery acquired $60M funds; Introduces Whitelabel platform
Indian-based restaurant search app Zomato acquired $60M from Temasek Holdings and Vy Capital. The search app will use it to expand the business to other countries and to introduce other services like Zomato Whitelabel.
Amazon to Release $50 Tablet This Holiday as it Struggles to Sell Pricier Devices
Amazon.com, Inc. plans to drop a new tablet worth $50 as it has struggled drawing customers to its pricier devices. The said tablet is said to be rolled out this holiday.
Latest News
Apple has released a new Apple Watch app that is centered around lightweight communication between hosts and guests. They can use it to get notifications and read and respond to messages. Hosts can also receive booking requests right from the watch as reported by msn.com.
J. Crew has been known for its conventionally preppy clothes and its basics. The company lately has been criticized for not offering solid classic attire and is wandering from its core customers.
Amazon is venturing on meal delivery partnering with restaurants near Seattle, and is currently hiring jobs for the Seattle headquarter and in New York. Amazon Inc. is currently hiring staff for its newest division; the Amazon Restaurants. The department is opening 15 job vacancies in Seattle and New York. Six separate postings are from Amazon Restaurant and Travel.
Jan Koum, Whatsapp founder announced it on Facebook that the messaging app had reached 900 million users. Behind its first achievement, Facebook is aiming for 1 billion monthly users worldwide.
City watchdog the Financial Conduct Authority wasted £3.2 million of taxpayers' money on a deal with Oracle for software that was never used. FCA officials admitted that the agency only required £1 million for a software they needed. But according to reports from This Is Money, the FCA paid a total of £4.2 million for a deal with San Francisco-based tech giant Oracle.
As the supply for homes being sold goes down, statistics suggest an increase of potential buyers. This could lead to boom in house prices. Statistics from the Royal Institution of Chartered Surveyors (Rics) this week expects to see a surge in potential new home buyers as reported by This Is Money. As supply of houses being sold is dwindling, another boom in house prices could well be on the way.
After the market downfall from the previous weeks, IMF and ECB gave a warning on the effects of China's deceleration. Both European Central Bank and International Monetary Fund admonished the risks of economic growth from China's slowdown and other establishing markets.
The International group of governments and central bank governors from 20 major economies agreed Saturday to hasten slow growth, saying the low interest rates will not be enough to accelerate economic improvement, but they are optimistic that growth will happen.
The leading Irish clothing brand, Primark, tries to break through in the U.S. market this year. On September 10, it will open its first store in Boston, which will followed by seven other locations across the country.
