It is really an American dream getting shattered by the Indian drug manufacturer Ranbaxy Laboratories. The US department of Justice has filed a permanent injunction on this Indian drug manufacturer against selling medicines in the American market.
It has been revealed by the Zappos authorities that the database of their online customers has been hacked and it has lead to the licking out of credit card, billing and address information of their online customers.
In spite of slow economic progress, Global agency Moody has improved the short term foreign currency rating of India from speculative to investment grade. With this improvement, the domestic companies will be able to raise funds from the overseas markets at lower rates.
The Auto Expo 2012 in India is going to start from January 5 and visitors are expecting a lot of surprises this year. Many Indian and global carmakers are going to join the event and show their wide variety of cars.
Great Britain is facing one of the toughest job markets in two decades as the numbers of working people is expected to fall by 120,000 in the year 2012. It was announced by the Chartered Institute of Personnel and Development.
Reacting to correctionary measures, China’s rate of inflation is going down straight for the past three months. Few months ago, inflation rate in China was becoming a major concern for the economy.
Though the US economy created a large numbers of jobs in the month of October, growth still seems to be sluggish. According to report published by the US Labor Department, employers have been able to add 80,000 payroll jobs and it was slightly less than what the market was expecting.
With less number of iPhone activation going on, the growth of AT & T has slowed down. The quarterly earnings of the company fell short of expectation. The wireless industry as a whole is going through a hard time and is finding it difficult to attract customers to subscribe the data plans.
The Reserve Bank of India has hiked the repo rate and hence the key interest rates in the country by 25 basis points. With this announcement of hike in repo rate, all loans have become costlier and that includes the home loan, personal loan. The RBI authorities claimed that the move has been initiated in order to curb down inflation further.
Recession has taken its toll on the demand for oil also. As more and more people are found to be losing their jobs and salaries getting frozen, oil consumption went down and this has led to the decrease in demand of oil worldwide.
