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Prostitution And Illegal Drugs Help UK Overtake France In Global Wealth League

Prostitution And Illegal Drugs Help UK Overtake France In Global Wealth League

LONDON – Britain’s multi-billion pound sex and illegal drug industries have helped the UK leapfrog France to become the world’s fifth largest economy.
The latest global economic league tables includes a £10 billion boost in UK earnings from drugs and sex – which earlier this year led to Brussels issuing a £1.7 billion bill to the [...]

January 24th, 2015 | Posted in Business | Read More »

IMF Cuts Global Growth Outlook

IMF Cuts Global Growth Outlook

The International Monetary Fund lowered its forecast for global economic growth in 2015.
BEIJING – The International Monetary Fund lowered its forecast for global economic growth in 2015, and called on Tuesday for governments and central banks to pursue accommodative monetary policies and structural reforms to support growth.
Global growth is projected at 3.5 per cent for [...]

January 24th, 2015 | Posted in Business | Read More »

Amazon To Invest $2 Billion In India, On Track To Hit $1 Billion Sales

Amazon To Invest $2 Billion In India, On Track To Hit $1 Billion Sales

NEW DELHI – Upping its ante in India’s fiercely competitive online shopping space, e-commerce giant Amazon today said it will invest USD 2 billion in the country to grow the business in a market that is dominated by homegrown players like Flipkart and Snapdeal.
The US-based firm’s announcement comes less than 24 hours after rival Flipkart [...]

January 24th, 2015 | Posted in Business | Read More »

China’s Alibaba To Buy $550Mn Stake In India’s One97 Communications

China’s Alibaba To Buy $550Mn Stake In India’s One97 Communications

BANGALORE – Talks are at a fairly advanced stage that a stake of $550 million in Indian online payments platform One97 Communications being bought by China’s Alibaba Group Holding Ltd and its Alipay, said one source.
The edge of the month expects an announcement of Alibaba’s investment. This deal would mark world’s largest e-commerce company -Alibaba’s [...]

January 17th, 2015 | Posted in Business | Read More »

Yoga Baba Ramdev’s Business Poised To Touch Rs 2,000 Crore This Fiscal

Yoga Baba Ramdev’s Business Poised To Touch Rs 2,000 Crore This Fiscal

NEW DELHI – It may be an unlikely combination — yoga for inner peace and FMCG for external beauty — but Baba Ramdev appears to have struck the right pose in both. The guru whose ‘easy yoga’ has won him a mass following is also cornering the FMCG market with daily use products ranging from [...]

January 17th, 2015 | Posted in Business | Read More »

BlackBerry Surges On Report Of Samsung Takeover

BlackBerry Surges On Report Of Samsung Takeover

NEW YORK – Samsung Electronics Co Ltd recently approached BlackBerry Ltd about buying the smartphone maker for as much as $7.5-billion in a play for its patent portfolio, according to a person familiar with the matter and documents seen by Reuters.
South Korea’s Samsung proposed an initial price range of $13.35 to $15.49 per share, representing [...]

January 17th, 2015 | Posted in Business | Read More »

Oil At 5-Year Low In Supply Glut With Price Slipping Below $50 A Barrel

Oil At 5-Year Low In Supply Glut With Price Slipping Below $50 A Barrel

NEW YORK – Oil extended losses below $50 a barrel amid speculation that US inventories will expand, deepening a global supply glut that’s driven prices to a five-year low.
Futures declined for a fourth day. Stockpiles in the world’s biggest oil consumer probably rose by 700,000 barrels last week, a Bloomberg News survey shows before a [...]

January 10th, 2015 | Posted in Business | Read More »

Lamborghini Launches A $6,000 Smartphone

Lamborghini Launches A $6,000 Smartphone

LAS VEGAS – Tonino Lamborghini Mobile on Tuesday announced the global launch of the stainless steel-and-leather handset ahead of the Consumer Electronics Show in Las Vegas.
Despite an uncertain economy and declining prices for mobile devices, the Italian-based company says it may be unable to meet demand.
“Luxury is not a need, but it is a way [...]

January 10th, 2015 | Posted in Business | Read More »

We Have A Vision For Digital India, Says Google VP

We Have A Vision For Digital India, Says Google VP

NEW DELHI – Fiction is the new reality in the world of telecom and information technology.
Coming soon is a refrigerator with internet connection that can identify the products inside it, and proactively collect recipes around the globe to greet its owner when they get home from office.
“I was not at all amazed, but asked the [...]

January 10th, 2015 | Posted in Business | Read More »

More Than 1,000 Indian Companies, Individuals Under Radar For Tax Evasion

More Than 1,000 Indian Companies, Individuals Under Radar For Tax Evasion

MUMBAI – At least 1,000 individuals and companies have come under Securities and Exchange  Board of India’s (Sebi) scanner for allegedly using stock markets to evade taxes and launder money through companies mostly existing on paper.
Sebi is focussing on securities market related violations by these individuals and companies, who have used trading in at least [...]

January 3rd, 2015 | Posted in Business | Read More »