Samsung Galaxy Note 7 mass recall after reports of device exploding while charging

Samsungs mass recall of the Galaxy Note 7 smartphones worldwide over faulty batteries may cut the Korean companys 2016 second-half operating profit by about 820bn won ($738m, £554m) as per an analyst report. Another report says the total cost borne the company could well amount to $1bn. The company announced a global recall of the recently launched Note 7 smartphone last week after receiving close to 35 official complaints of malfunctioning most of which were related to batteries that caught fire while being charged. Sep 8, 2016

China planning $1.5bn theme park that will take visitors to space in weather balloons

A large Chinese entrepreneurial investor is keen to get the jump on Virgin Galactic and launch trips to the edge of space using weather balloons from China. KuangChi Science has announced plans to invest ¥10m (yuan - $1.5m, £1.12m) into developing a futuristic theme park in Hangzhou province called Future Valley, which comes with a series of rides aiming to let people experience what it would feel like to be an astronaut in space. Sep 7, 2016