United States

Out of range: Target is closing down 13 stores in the US

Target, one of America largest retail stores is closing 13 stores across the United States that has been performing badly over the years. The management blames decreasing profit in these stores as the main reason for the closure.

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Four of 10 products sold online in China are fakes, shoddy

More than 40% of goods sold on the Internet in China are fakes or shoddy, according to a report by an official of the standing committee of the National People's Congress, the country's top law-making body.

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U.S. Ranks Third in the Global Tax Havens List

The United States is now third place in the list of top tax havens for foreign companies on the biannual Financial Secrecy Index by the Tax Justice Network, next to Switzerland and Hong Kong.

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American Tech Giants Increasing Partnerships with Chinese Companies Impose Threat to US National Security

More and more United States giant tech companies are partnering with Chinese firms that are connected with the Asian country's military, leading to fears that it may improve Chinese military technological capabilities and could even harm US national security.

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Cross-border technology sharing with Chinese firms worries US defense experts

The technology tie-ups between the US technology giants and Chinese firms have become a center of debate as the close business relations have under current exposure to sensitive defense technology. Security analysts express their concern about possible harm to the national security of the US. In association with US technology firms, Chinese companies are becoming self-reliant in defense technology triggering the alarm bells for the US national security.

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Chinese jewellery demand decline shadows Canadian Arctic diamond sector's sparkle

The commodity slump caused by China is adversely affecting some of the biggest raw material markets in the world, and now it shades the sparkle that Canada's Arctic diamond industry once had.

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McDonald's shares hit record high as new CEO's turnaround plan start to work

The shares of McDonalds' - the world's biggest restaurant chain - jumped more than 8% to hit $110.88 on Thursday. CEO Steve Easterbrook, who took over the helm 8 months ago, stated that the rebound in the quarterly restaurant sales showed that his turnaround plan is starting to take effect.

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Bitcoin startup Abra announces U.S. and Philippines launch

Bitcoin startup company, Abra, recently announced that it is set to launch in the United States and the Philippines after getting $12 million in Series A Round funding from investors, including the American Express and Ratan Tata, the chairman emeritus of Tata Sons.

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President of Indonesia to Visit Silicon Valley’s tech giants on US trip

Indonesian president is scheduled to visit US's giant tech companies during his first trip in the United States. The trip will start on October 26 and it will be a five-day trip full of bilateral business agenda.

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Starbucks to brew in Italy

A negotiation between the U.S. company and Italian businessman Antonio Percassi to bringing Starbucks to Italy is already in process. The agreement is set to be finalized this coming Christmas according to the newspaper Corriere della Serra.

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Exxon Mobil is fined $2.63 million

The United States court finally comes out with the verdict regarding Exxon Mobil Corp oil spill in 2013. The fine was issued by the U.S. pipeline safety office ordering the oil giant to pay a total of $2.63 million for spilling the crude oil in Arkansas residential Area.

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US freezes assets of Islamic State supporters

The United States imposes sanctions upon 30 individuals and groups linked to the Islamic State. Fifteen people were designated by the Treasury Department as Islamic State supporters, while 10 individuals and five groups were tagged by the State Department as foreign terrorist fighters.

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Caterpillar's part suppliers are feeling the economic slowdown too

The slump business in the mining industry had led Caterpillar to reduce its revenue expectation for this year. The latest revenue projection is $48 billion which is 25 percent lower compared to the last 4 years. The reduction means not only the company will suffer, but its heavy machinery parts supplier is feeling the effects too.

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5.6 Million U.S Federal Officers' Fingerprints were Stolen

The Office of Personnel Management today said that some 5.6 million fingerprints were stolen by the hacker and not 1.1 million like it was previously reported. The new data came after the agency had conducted further investigation together with the Department of Defense.

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New rules to relief Cuba embargo laid out by White House

New regulations have been issued by the U.S. to alleviate restrictions on American companies venturing business in Cuba and opening up travel in the latest action to soften the US trade embargo on the Communist country.

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