The move mirrors similar announcements made by the U.S. and China where increased trading volumes of cryptocurrencies have sparked concerns. On Friday, South Korea’s financial regulator has stated it will ban the raising of funds through all forms of virtual currencies, including Initial Coin Offering, (ICO), in a move that mirrors China’s restriction on initial…
South Australia’s power blackout could be history thanks to Tesla’s “Hollywood solution”. Almost a year after South Australia suffered a major blackout, it has started building the world’s biggest battery to help keep its electricity grid on and humming in what is being slated as Australia’s most wind-dependent state. With Tesla winning the bid to…
An average of more than $193,000 is earned by expatriates moving to Switzerland which is also the home to some of the biggest private banks, commodity traders and pharmaceuticals companies. A study published by HSBC Holdings Plc shows that it is 54 percent more than if they’d stayed at home and is the highest in the…
Creating a European champion to better withstand the international advance of China’s state-owned CRRC, German industrial group Siemens and French rival Alstom agreed to merge their rail operations. While Alstom will supply Henri Poupart-Lafarge as chief executive, helping to counter criticism that France is giving up control of another national industrial icon, Siemens will own 50 percent plus a…
If the United States government can get tax reform “right,” the country will see its gross domestic product rise by 1 percent, according to the commerce secretary. Wilbur Ross said that because it could add nearly $3 trillion in federal government revenue in the next decade, getting U.S. tax reform right is important. Ross said that the…
Google’s gain is Microsoft’s loss. Microsoft will now focus on increasing Bing’s footprint in the PC market. Satya Nadella, Microsoft Corp’s CEO, said Bing, the company’s search engine, will focus on expanding its footprint in the PC market as opposed to the mobile market. The announcement comes in the wake of Microsoft losing its deal…
The upcoming legislation is part of a bipartisan deal that is aimed at easing the entry of self-driving vehicles on U.S. roads. Late on Wednesday, two U.S. senators disclosed that a bipartisan deal had been hammered out on legislation aimed at easing out the hurdles for getting self-driving vehicles to the market. As per Senator…
Financial misconduct by global banks, since the 2008 financial crisis, has led to the writing-off of $850 billion in profits for the world’s top 50 banks. As per a research report released on Wednesday, since the 2007-2009 financial crisis, European and U.S. regulators have imposed $342 billion in fines on banks, resulting from violations of…
Toshiba is now facing pressures from Apple Inc, which is demanding new terms on supply of chips in return for funding. On Wednesday, SK Hynix Inc stated its board had approved its participation in a Bain Capital-led consortium that plans to purchase Toshiba Corp’s memory chip unit for $17.7 billion (2 trillion yen) . As…
Betting that the pop-culture-fueled appeal of the country’s beauty products will outweigh concerns over regional tensions and in order to gain a stronger foothold in the world’s fourth-largest skincare market, Unilever agreed to buy a South Korean cosmetics maker for 2.27 billion euros ($2.7 billion). The London- and Amsterdam-based company said in a statement Monday…
business-gurus.com 