Volkswagen reaches settlement with 10 US states on its emissions scandal
The Dollar Business Bureau The German automaker Volkswagen has agreed to pay $157.5 million to 10 US states for violating emissions standards. Speaking to the media, a spokesperson of the company said that his company has reached a settlement on Thursday with the representatives of Massachusetts, Virginia, New York and other seven states on this matter avoiding further prolonged and expensive litigation. In its press statement, the company said, "The agreement avoids further prolonged and costly litigation as Volkswagen continues to work to earn back the trust of its customers, regulators and the public.” So far the company has agreed to pay out more than $20 billion to state and federal authorities, auto dealers and consumers to avoid criminal penalties in its bid ...
Snapchat decides to set its operations base in UK despite Brexit
The Dollar Business Bureau Snap Inc, previously known as Snapchat, is going to set up its international headquarter in the UK, a decision which is seen as a vote of confidence for the Britain following the Brexit. The UK will become the main hub outside the US for the California-based technology company. Snap Inc said that it selected the UK because of the country’s strong creative companies. This is a surprise move from that of the US tech firms that have been favouring low-tax destinations like Luxembourg for Amazon or Apple and Facebook favouring Ireland. Claire Valoti, Snap’s General Manager in UK, said, “Our advertising clients are in the UK, where we have over 10 million daily Snapchatters, and where we have already started the hiring.” Although UK is still in the process to leave EU, ...
Starvation strikes Indias shrimp farms [Not all of em!]
The Dollar Business Bureau Delays in clearance of incoming artemia cyst larval feeds (due to technical issues) at India’s ports may negatively affect India’s shrimp production and exports. During FY2015, India imported nearly Rs.200 crore worth of these cysts that are hatched in India to produce young ones that are thereafter fed to shrimp larvae in shrimp breeding farms across the country. At present, hatcheries that are spread across the East Godavari and the rest of Andhra Pradesh are reported as being worst hit by the shortage in supply-through-import mode. Over 97% of the feed comes from five prime supplying nations, i.e. Vietnam, Thailand, Malaysia, US and Indonesia. Thankfully, delay issues at India’s ports in the east coast have currently only affected ...
