China Startup: Venture Firm Qiming Received $648 Million in Venture Capital Fund from Princeton University and Duke University
One of China’s biggest venture capital firm, Qiming, secured its fifth US dollar venture capital fund in total of $648 million. The fund will help expand the firm’s investments in Chinese top startups in various sectors such as internet, consumer, technology, healthcare, as well as cleantech.
Feb 09, 2016 9:32 AM EST
Adidas Ends IAAF Sponsorship Over Dopping Scandal
The German sportswear and apparel giant ends sponsorship with the International Association of Athletics Federation (IAAF). Adidas decided to terminate the contract because of continuous doping scandal and corruption.
AmEx to slash cost by $1bn by 2017
Feeling the heat of competition in the global payments industry, American Express (AmEx) is in the process of reducing costs by $1billion by end of 2017. AmEx posted losses for the fourth quarter consecutively. The net income dropped from $1.44 billion to $873 million or 80 cents per share for the quarter. The forecast for this year disappointed investors and analysts.
Takata to meet major customers to discuss business forecasts
Takata Corp is reportedly planning to meet its major clients in order to discuss its business forecasts. The US transport authorities announced a fresh recall of about 5 million vehicles subsequent to the recent death caused by the Japanese firm's airbag inflators.
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Part of Saudi Aramco’s Shares May Be Offered For International Investors
Aramco is the largest known oil producer in the world with a daily production of 10.25 MMbpd. KSA authority has increased feedstock prices to narrow down its budgetary deficits and also increases daily production rate to cope with the soaring demands. Now it is in efforts for Aramco’s listing for IPOs. If listed, Aramco will be the world’s first corporate entity with asset value of more than $1 trillion.
Jan 25, 2016 8:25 AM EST
Deezer raises $109 million despite cancelling its IPO plan
Paris-based music streaming service Deezer has raised around $109 million in a Series E round of funding led by Access Industries. The latest funding will help the company to attract more subscribers even after putting their IPO plan on halt.
Jan 21, 2016 8:08 PM EST
For Chinese Consumers, Oil Prices Halted At $40 Per Barrel Will Not Cut Down The Fuel Prices
The cutting down of the global crude oil in the world has not really influenced the Chinese consumers' retail fuel prices. The price remains the same as long as the price does not touch %40 per barrel.
Jan 21, 2016 7:31 PM EST
Tullow Oil Plc Expects a Revenue of $1.6 Bln for 2015, 28% lower than 2014
Oil explorer Tullow expects to report revenue of $1.6 billion for the year 2015. The company also anticipates its impairment charges to be $0.9 billion for the full year.
Jan 18, 2016 9:57 PM EST
Woolworths considers pulling out of Masters, following a Lowe’s buyout
The supermarket giant, Woolworths has finally announced its decision to wrap up its home improvement project, Masters. After incurring heavy losses for almost four years, chairman Gordon Cairns has decided on selling or shutting down the operations. For this, the company his approached its joint venture partner, Lowe's, to buy out its 33.3% stake in Masters., but it may take several months to sort out the exit options.
Jan 18, 2016 9:39 PM EST
South African House Prices to Decline in 2016, According to Retail Bank
South African retail bank said the country's house price will decline in this year. Fitch Ratings also remarked South African residential property and mortgage markets outlook to weaken further facing microeconomic challenge.
Jan 18, 2016 9:33 PM EST
North Korean Nuke Testing and Oil Price Fall Plunges Dow Jones in First Week of 2016
Rising global concerns in first week 2016 including North Korean nuke testing, fall in oil prices, sluggishness of Chinese economy, middle east tension, reservation by Federal Reserve to raise interest rates plunged Dow Jones. Markets in Europe and Asia fell as well.
Jan 12, 2016 7:00 AM EST
Martin Shkreli's $5 Million Bail Was Secured With His E-Trade Account
Last December, Martin Shkreli, who was arrested for securities fraud in pharmaceutical company was released on bail. Court document shows his $5 million security bond was secured with $45 million E-Trade account.
Jan 11, 2016 6:58 AM EST
Scientists found that century-old Alexander Keith's found at Halifax Harbour is in fact beer
The 125-year-old bottle of Alexander Keith's found at the bottom of the Halifax Harbour last year is confirmed by scientists as drinkable beer.
Jan 11, 2016 6:33 AM EST
Oracle billionaire sold controlling interest in his Hawaiian Island Air
Oracle billionaire Larry Ellison's Ohana Airline Holdings LLC will sell a controlling interest of Island Air to venture capital investment company PacifiCap.
Jan 11, 2016 6:14 AM EST
McDonald’s gets a multi-color makeover as CEO pushes the company to be a modern, progressive burger company
McDonald’s launched a new makeover for its packaging using bold, bright colors on cups, boxes, and bags that will become more appealing to customers.
Jan 10, 2016 10:05 PM EST
Philippine Peso, this week’s least loser among emerging Asian market
The Philippine peso is the least loser among emerging-market in Asia this week, thanks to the remittance from its overseas workers and outsourcing industry, which shielded it from the Chinese economic slowdown and increase in US interest rates.
Jan 10, 2016 10:02 PM EST
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