Articles by Staff Writer

Louisiana Public Service Commission Rejected Macquarie's Move to Acquire Public Utility Cleco Power LLC

State regulator rejected a $4.85 billion dollar acquisition of utility power company Cleco to Macquarie Group on Wednesday. The regulator said that the acquisition did not serve the best interest of the customers.

Feb 25, 2016 08:39 AM EST

Swiss Drilling Company Transocean Posts Profit Despite Poor Oil Price

Transocean's fourth quarter earnings exceeded the analysts' earnings estimate amid the ongoing fall in the oil market. The company managed to post a quarterly profit of $617 million by reducing its operating costs.

Feb 25, 2016 08:37 AM EST

New Zealand can sustain low inflation according to Finance Minister Bill English

According to Bill English, New Zealand can sustain low inflation as the central bank aim to reduce borrowing costs, if needed. New Zealand is hoping to achieve economic stability amid the global financial crisis.

Feb 25, 2016 08:34 AM EST

Dollar rising as Nikkei further moves up

US dollar against Yen is rising as renewed buying support is propelling Japan's Nikkei index upwards. The priority shift among some investors from traditional safety net of Japanese currency to equities was the major reason on Nikkei's rise. The market players are eagerly waiting for the outcome of G-20 meeting this weekend in Shanghai.

Feb 25, 2016 08:32 AM EST

Chesapeake Energy posts Q4 loss on heavy write-down

Oklahoma-based Chesapeake Energy has posted losses over $14 billion for 2015 and a net loss of $2.23 billion or $3.36 a share for the fourth quarter. The major reason for deep loss was writing down value of oil and gas fields in the wake of prolonged lower oil prices. However, the loss was better than the market forecast.

Feb 25, 2016 08:30 AM EST

New Jersey Biotech Startup Visikol Received $500,000 Investment from Foundation Venture Group

Visikol Inc is a biotech company with focused on tissue visualization. On Tuesday, the company has secured a commitment from Foundation Venture Capital Group

Feb 25, 2016 08:27 AM EST

Uber Plans Autonomous Test Driving In Hazelwood of Pittsburgh

Uber’s self driving car project has first drawn attraction with poaching 50 robotics researchers from CMU in early 2015. Recently it has appeared in the news headline again with the announcement of developing a test driving site for its self-driven cars in Hazelwood of Pittsburg. Though some automakers predict for introducing their autonomous vehicle by 2020, but Uber has kept mum in this regard.

Feb 25, 2016 08:22 AM EST

Alberta's economy continues to shrink over uncertainty in oil market

The economy in Alberta will continue to shrink for the next two years amid weak crude prices globally. The province's shortfall in 2017 -2017 is anticipated to outstrip the October outlook by almost $5 billion.

Feb 25, 2016 08:20 AM EST

Google Fiber To Introduce Gigabit Internet Service In Select Places of San Francisco

Google has planned to introduce WiFi network service in San Francisco during 2007 in collaboration with Earthlink. The initiative ultimately has gone into vein. Finally another Alphabet subsidiary, Google Fiber has announced introducing high speed gigabit internet service to some select places of San Francisco.

Feb 25, 2016 08:17 AM EST

UberMOTO Now Service Bangkok, Rivals GrabTaxi's GrabBike

UberMOTO is now made available in Bangkok competing GrabTaxi's GrabBike. Due to the staggering loss it incurred in China, Uber finds Bangkok as a fit location to pilot its motorcycle service program that will give two free rides to first-time riders until March 15 as its celebratory offer.

Feb 25, 2016 08:15 AM EST

Ford Announced Plan to Triple Investment on Semi-Automous Driving Technologies Leading Up To Driverless Cars

Ford announced that the company will devote more resources to develop semi-autonomous driving technologies, as they aim to invest triple the amount of investment in the technologies. Some of Ford's cars already have some semi-autonomous technology in them, as with the updated version of Ford Kuga unveiled along with the announcement.

Feb 24, 2016 09:34 AM EST

American Fruits and Flavors Acquired by Monster Beverages for $690 Million

It was agreed that Monster Beverages will take over on American Fruits and Flavors, its leading supplier of fruit concentrares, flavors and mixes. The beverage company paid $690 million for the acquisition. Since 1990's the two companies have been working together.

Feb 24, 2016 09:30 AM EST

Syrian Refugees in Turkey Contributed to the Country's Economic Growth According to Government Officials

Turkish government officials acknowledged that the influx of Syrian refugees to the country has contributed in boosting the economy. Turkey’s economic growth has seen an unexpected growth in the third quarter, even as some economic aspects suffered and strained from the flow of migrants.

Feb 24, 2016 09:27 AM EST

McDonald's Introduces Chobani-yoghurt Parfaits and Smoothies, Breakfast Bowls

McDonald's partners with Chobani, a Greek yoghurt-maker company and tests how the yoghurt will come along being incorporated to some of its menu. The fast food chain is adapting to the change to make itself a 'modern and progressive company' as it adapts to the changing tastes of its customers.

Feb 24, 2016 09:20 AM EST

Mark Zuckerberg Supports Apple, Strongly Opposes Creating Backdoors For Law Enforcers

The US government has appeared in a row with Apple centering unlocking of encrypted data of an iPhone allegedly used by a terrorist. Apple opposes the demand citing creation of backdoors for the law enforcers, may lead to a potential abuse. Supporting Apple stand, Mark Zuckerberg has pledged playing due rolls in its fight while addressing in the Mobile World Congress on Monday.

Feb 24, 2016 09:18 AM EST

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