Indian automobile sector registered lowest growth in sales during December 2016, since the time Society of Indian Automobile Manufacturers (SIAM) started keeping record for combined automobile sales in the country. The impact on automobile sector is due to self-inflicted currency shortage in India. Indian government announced currency demonetization on November 8 and the government wasn’t prepared to deal with massive demand for new currency. Nearly 86 percent of Indian currency was scrapped by the government in a surprise decision to deal with black money.
Hyundai could launch its second generation Fuel Cell SUV with 348 mile range could be launched by January 2018. Hyundai fuel cell SUV runs on hydrogen-powered fuel cells. The SUV will beat Toyota Mirai (currently with 312 miles) but will still fall short of Honda’s Clarity Fuel Cell vehicle which runs 366 miles in single charge. After running 348 miles, Hyundai Fuel Cell SUV will need hydrogen refueling. While Tesla is promoting electric vehicle technology, Hyundai and other automobile companies are looking forward to use other technologies as well.
Cyanogen operating system for smartphones will no longer be developed by the company as it has finally decided to end its services by the end of 2016. Cyanogen has been in the news for facing financial and management issues. The company was aiming to provide a better smartphone operating system compared to Google’s Android. However, Cyanogen has not been able to get the acceptance that the company management was expecting.
Amazon will deliver gifts for holiday shoppers till Christmas Eve midnight. The company said that its team is working extra hours to deliver smiles and gifts to its valuable customers. The service of quick delivery for last minute shoppers will be available only for Amazon Prime Now customers. Amazon Prime Now costs $99 per year and offers special discount and free delivery on many items to customers.
Apple is ready to launch a legal action against European Union’s record €13 billion tax demand from Cupertino-based hardware and software major. Apple has been supported by Ireland where the company has based its European operations. Ireland has blamed Brussels of infringing on its sovereignty and has contested against massive tax demand from Apple.
Researchers have found six new species during exploration of Longqi vent field in deep Indian Ocean. The Longqi vent field is location nearly 1,200 miles southeast of Madagascar. The region is nearly 1.7 miles deep and remotely operated vehicles were used by researchers to access the region. The research team found six new species, including snails, limpets and hairy-chested Hoff crab (Kiwa).
Prudential Financial Incorporated could be the next in line to suffer after Wells Fargo sales scandal came up. Prudential Financial faces lawsuit in New Jersey state court. Wells Fargo suffered massive blow to its reputation and market valuation after the sales scandal emerged.
The matter is regarding many clients enrolled in life insurance policies without their knowledge. Initial reports suggest a ‘large number of similarities’ between the way Wells Fargo accounts were created and the policies at Prudential Financial.
Four new elements, Nihonium (Nh), moscovium (Mc), tennessine (Ts), and oganesson (Og) have been officially added to periodic table of the elements. The addition of new elements to the periodic table has been approved by the International Union of Pure and Applied Chemistry (IUPAC). The discovery of these elements was confirmed in December last year.
E-commerce major Alibaba has reported massive sales volume on Singles Day in China. Within first five minutes of sale, Alibaba registered orders over $1 billion and market experts see it breaking previous records. During first two hours, the ecommerce giant registered orders above $7.2 billion compared to $14.3 billion total order volume during last year’s sale.
Comparing Singles Day event to Black Friday and Cyber Monday in the United States, Alibaba fares much better in terms of sales volume. Last year, Black Friday and Cyber Monday accounted for $3 billion in sales volume.
The International Whaling Commission has adopted new resolution on international whaling and a Japanese official will be the next chairman. The commission has also planned to setup a new fund to help cash-strapped developing nations. The new fund has been proposed by Japan. During a meeting in Slovenia, the International Whaling Commission has adopted a few measures to improve the coordination between members.
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