Business

OPEC courting more oil producers to restore stability; may benefit India

But, the oil group soon moved to curb production-along with other oil producing nations-in late 2016. The figures mean Opec has complied 98 per cent with the cutback pledge, according to a Reuters calculation, up from 83 per cent initially reported in August as the September rise was led by Nigeria and Libya which are exempt from the cut.

Business

Preckwinkle's sweetened beverage tax repealed

Low-tax advocates cheered the decision as a blow to the "nanny-state crusade". After delays related to a lawsuit from the Illinois Retail Merchants Association, the tax on sugary beverages went into effect this past August. Preckwinkle has said there could be an 11 percent budget cut resulting in layoffs with repeal of the tax. David Goldenberg, a spokesman for the industry-funded Can the Tax Coalition said that Consumer indignation is off the charts.

Business

Japan's Kobe Steel scandal forged over a decade

Toyota is one of 200 companies potentially impacted by Kobe Steel's fraudulent practices; however, its USA built vehicle appear to be unaffected. Aluminum is widely used in cars, planes and high-speed trains in Japan which use the light-weight metal to increase fuel efficiency.

Business

Richard Thaler of USA wins Nobel Economics Prize

Thaler's experimental work revealed people often make irrational economic choices, Kochov said. Richard Thaler works as a professor of Behavioral Science and Economics at the University of Chicago. The Swedish National Bank Prize in Economic Sciences in Memory of Alfred Nobel was first granted to its first recipients, Ragnar Frisch of Norway and Jan Tinbergen of the Netherlands, nearly 70 years after the series of prestigious prizes that Nobel helped establish through funding set aside in ...

Business

Tesla Denies 'Misleading' Reports Model 3s Are Being Built By Hand

The company's financials indicate that operating loss increased sharply in Q4 2016, and has remained elevated throughout 2017, despite a small dip in Q2 2017. There has been some concern that Tesla's recently launched lower-cost Model 3 would dampen demand for Model S. In addition, the Model S' ability to consistently outsell comparably priced large luxury sedan has been critiqued by some to be unsustainable.

Business

Cruise buys lidar start-up Strobe to accelerate self-driving cars

In 2017, the carmaker began producing all-electric Chevy Bolt EVs equipped with Cruise's integrated technology while also testing the systems in the San Francisco Bay Area. "When used together, cameras, LIDARs, and RADARs can complement each other to create a robust and fault-tolerant sensing suite that operates in a wide range of environmental and lighting conditions", he says.


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