For quite a long time talks about abolition of cash were wandering around America. Of course, this issue is very delicate and painful, so the media rarely discussed it, but now it has leaked in real life. Until now, the war against the cash was conducted almost exclusively by national governments and official international organizations, but now they have a powerful ally. As it became known, one...

Chinese branch of Daimler, which produces Mercedes cars, was fined 56.5 million dollars for violating antitrust laws. The fine was imposed because the automaker has forced dealers to set minimum prices for some cars and parts. This, in particular, relates to S- and E-class automobiles. Daimler was found guilty of violation of free competition in the auto market in August, but only eight months...

After Home Depot, environmental and health activists are forcing home improvement store Lowe Co’s to stop selling flooring laminates which has a potentially toxic chemical in it. While Home Depot, world’s largest home-improvement chain has announced today that it would stop selling vinyl laminates with phthalates by the end of the year, Lowe’s has still not made any declaration on this matter....

The world's largest fast-food chain McDonald's Corp reported a decrease in revenue in the first quarter by 11% compared with a year earlier. Net profit for the period decreased by 32.6%. As noted in McDonald's press release, the deterioration of the financial results are associated with scandals on products quality in China and Japan’s restaurants of the chain, as well as the high level of...

World’s largest grocery retail chain Walmart is planning to take away a layer from its in-store management to simply its operations.   According to Wal-Mart spokesman Kory Lundberg, the company will eliminiate the role of zonal manager across its 4500 store locations in the US. This move by the company will affect around 14,000 employees. The company began notifying employees of the...

Multi-national contractor Leighton Holdings is changing its name to CIMIC Group amidst a rebranding effort to save its tarnish image. The name change has got the approval from shareholder at the company’s annual general meeting (AGM). The new name will stand for Construction, Infrastructure, Mining and Concessions and the change was devised to reflect the core activities the company undertakes....

Manhattan District Attorney Cyrus Vance criticized new ways of encrypting data, proposed by Apple and Google. According to him, the authorities’ restrict access to personal data of users only helps terrorists to commit new crimes. Lack of American authorities’ access to the personal data of Apple products and Google users helps terrorists. Manhattan District Attorney Cyrus Vance criticized new...

Scotland-based Clydesdale has been fined $40 million by Britain's financial ombudsman due to its involvement in the PPI scandal. The fine is the biggest ever handed out by the Financial Conduct Authority in relation to the payment protection insurance (PPI) scandal, for which banks in Britain have to set aside more than £24 billion to compensate customers. The authority has flagged off serious...

US-based software giant Google has updated its Google Wear software run on Android platform to make it as agile as Apple Watch. The update will be available now in the new LG Watch Urbane and will help the smartwatches to work independently without being connected to your smartphones using Bluetooth. The users who have built-in wifi can connect to internet without using the phone and can also...