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JPMorgan Chase Agree to pay About $50 million as Settlement Agreement Over Faulty Bankruptcies

UAE News - Wed, 03/04/2015 - 11:19

A statement from the U. S Department of Justice said that JPMorgan Chase Bank will have to pay $50 million or more to about 25,000 homeowners who are at present in bankruptcy. This payment will be done by JPMorgan Chase as part of the settlement with the U. S government as the bank issued defective bankruptcy documents.

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New York Lawmaker wants ‘Immediate’ Investigation of Lumber Liquidators China Sourced Flooring

UAE News - Wed, 03/04/2015 - 11:14

Reportedly, on Tuesday, a New York lawmaker told the state to begin an "immediate investigation" of flooring that were sold by Lumber Liquidators which allegedly had higher levels of formaldehyde than granted standards. The floorings in question were manufactured in mills of China.

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Categories: UAE News

Cardinal Health Inc. Will Acquire, Cordis, the Heart Product Business of Johnson & Johnson

UAE News - Tue, 03/03/2015 - 11:20

Cardinal Health Inc. will acquire Johnson & Johnson's heart care-product business, Cordis, for $1.94 billion cash deal. This move will allow the company to add stents and catheters to its product list which it offers to hospitals, ambulatory centres, clinical laboratories, and also physicians.

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Visa and Citi to Replace AmEx at Costco Stores

UAE News - Tue, 03/03/2015 - 11:16

People shopping at outlets of Costco, the large and influential chain, will now require a new credit card to pay for the merchandise that they purchase.

Costco is the second-largest retailer in the world by revenue. It operates in 671 locations all over the world.

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Categories: UAE News

Water Deliveries to be Boosted by Five Percent by the State Water Project

UAE News - Tue, 03/03/2015 - 11:11

Looking at the storm activities in Southern California in the last couple of months, on Monday, the State Water Project announced that it would augment the amount of water deliveries to agencies all through the state. However the officials made it clear that it does not necessarily mean that the drought conditions in the region is coming to an end.

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Categories: UAE News

Gas Prices at Pumps on the Rise

UAE News - Mon, 03/02/2015 - 12:12

The drivers must have noticed a rise in the gas prices recently. According to a report from AAA, the average price nationally has spiked for consecutive 28 days for standard unleaded gasoline.

For several months the gas prices fell steeply making the drivers happy but once again it is on the rise, though slowly, but the sight of prices spiking in gas station is once again back.

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Categories: UAE News

Girl Scouts take Part in Dallas Cookie Box Creations Competition with Great Fervour

UAE News - Mon, 03/02/2015 - 12:10

Sunday morning kept some of the girl scouts busy, who decided to take part in the 2015 Cookie Box Creations competition. There was excitement and a continuous hum of activity all through the morning at the Galleria where about hundred or more Girl Scouts constructed amazing designs from empty boxes of Girl Scout cookies.

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Categories: UAE News

Oil Prices Still Remain in the Red Due to Oversupply Concerns

UAE News - Mon, 03/02/2015 - 12:07

On Monday, the oil prices still remained low due to oversupply concerns. The prices had partially recovered from prior losses following the report of a private business survey which revealed a progress in the manufacturing sector of China in February.

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Hewlett-Packard's Shares Fall as the Company Announced Lower than Expected Revenue Projection

UAE News - Wed, 02/25/2015 - 11:16

The Palo Alto, California based Hewlett-Packard Co's shares fell on Tuesday during late trading hours following the company's quarterly revenue and earnings outlook which could not match the expectations of Wall Street.

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Spouses of H-1B Visa Holders Can work in the U.S from May 26

UAE News - Wed, 02/25/2015 - 11:14

The US Citizenship and Immigration Services (USCIS) made an announcement that says, starting May 26, the spouses of H-1B and a few other visa holders would be eligible to work in the U. S. This move was applauded by many Indian techies and other Asian associations.

This announcement on Tuesday could be the first reform to be put into practice which is aimed at high-skilled immigrants.

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Bristol-Myers to Acquire Privately Owned Drug Manufacturer Flexus Bioscience Inc.

UAE News - Tue, 02/24/2015 - 12:41

On Monday, the New York drug maker Bristol-Myers Squibb Co. said that it will acquire Flexus Bioscience Inc., which a privately owned drug manufacturer. The deal will be worth around $1.25 billion. The deal is an effort of Bristol-Meyers to add some promising cancer-fighting products into its list of offerings.

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Valeant Pharmaceuticals International to Buy Salix Pharmaceuticals in a $10.1Billion All Cash Deal

UAE News - Tue, 02/24/2015 - 12:40

Valeant Pharmaceuticals International is acquiring Salix Pharmaceuticals, the maker of gastrointestinal drugs in an all-cash deal which is worth approximately $10.1bn. The announcement came from both the companies on Sunday.

In a news release, the drug makers said that the deal for was approved by the boards of directors of both the companies.

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Categories: UAE News

P&G Plan to Revamp Its Brand Portfolio Significantly

UAE News - Mon, 02/23/2015 - 12:13

Last year, A. G. Lafley, Procter & Gamble's CEO had announced that the consumer goods and personal care products company planned to revamp the brand portfolio majorly. Recently it was noted that P&G plans spin off or sell off about one hundred of its brands by the summer this year.

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BOJ Maintains its View of a Recovering Economy and Finds no Reasons for Further Easing of Policy

UAE News - Mon, 02/23/2015 - 12:11

Shinzo Abe's cabinet members in Japan say that they are ready to endure a slowdown in inflation for a short-term as a consequence of the collapsing oil prices by around half starting from the middle of the previous year.

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In The Next Two Decades Ten Fuel Train Derailments are Predicted in a Year by a Risk Study

UAE News - Mon, 02/23/2015 - 12:09

A risk analysis report of the federal government's Department of Transportation predicts that in the coming two decades trains carrying crude oil or ethanol on an average will derail ten times in one year which will cause damage of worth $4 billion or more.

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NSA and GCHQ may have a New Spying Tool in Encryption keys of Mobile SIM Cards

UAE News - Sat, 02/21/2015 - 11:07

If reports are to be believed then the encryption keys used widely in mobile phone SIM could be an additional tool for the US and British spy services in their arsenal.

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Categories: UAE News

Takata, the Largest Air-bag Manufacturer in the World May Face Federal Fine of $14,000 Per Day

UAE News - Sat, 02/21/2015 - 11:06

On Friday, Anthony Foxx , the U. S. Transportation Secretary said that Takata, the biggest air-bag manufacturer of the world, will face a fine $14,000 per day if it does not comply with the demand of federal authorities to disseminate more information about its air bags which have caused six deaths and injured several others.

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Categories: UAE News

Signalling at a Strong Job Market Applications for US Unemployment Benefits Drop to 283,000

UAE News - Fri, 02/20/2015 - 11:20

Last week the number of Americans filling applications for unemployment benefits dropped by a large number. This surely signals at a strong job market which is hoped to maintain its upward movement.

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Categories: UAE News

Intuit Inc. Posts Smaller-than-Expected Quarterly Loss

UAE News - Fri, 02/20/2015 - 11:16

A smaller than expected loss for the quarter was reported by Intuit Inc. mostly owing to a sturdy demand for software, TurboTax, which helps in preparing online tax files. The demand rose at the beginning of the tax-filing season in the United States.

The hare prices of the company spiked as much as six percent to $96.45 on Thursday during the after-market trading.

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Categories: UAE News

YouTube Plan to Offer Application Designed Especially for Children

UAE News - Fri, 02/20/2015 - 11:12

To extend its audience base, Google Inc. is now planning to invest in technology especially designed for children. The company is seeking a new way to go beyond its popular tools and adult appropriate contents.

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Categories: UAE News

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