Yahoo Inc’s revenues may drop by 15 percent for 2016 year, while earnings are also predicted to tumble 20 percent. The global internet company is expected to slash jobs by 1,500 to 9,000 in 2016.
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Halliburton Acquisition of Baker Hughes Faces a Legal Obstacle
United States Justice Department has prepared a lawsuit to block acquisition of Baker Hughes. Halliburton took over the company in November 2014.
Intel Acquires Yogitech to Strenghen Its Internet of Things Group
Intel announced the acquisition of Italian semiconductor company on April 5. Yogitech will enhance Intel's Advanced Driver Assistance Systems (ADAS) technology.
A Singapore Startup is Preparing for The World’s First Fully Autonomous Taxis
The world’s first fully autonomous taxis might be hitting the streets of Singapore earlier than other cities. An MIT-supported startup is dedicated to develop a technology to achieve that, and is now seeking for approval for pilot program.
Canada’s RBC Denied Facilitating Tax Evasion in Connection to Panama Papers Leak
The Royal Bank of Canada has released an official statement, explaining that the bank is not guilty for any illegal activities including tax evasion in connection to shell company set up as mentioned in leaked papers from Panama’s Mossack Fonseca. The bank claimed to have high standards to ensure clients would not use its services to evade tax.
Latest News
Goldman Sachs-backed consumer finance startup CompareAsiaGroup got its new CEO Sam Allen. In 2015, CompareAsiaGroup closed a Series A round of funding led by Goldman Sachs and is planning to go for a Series B round funding soon.
Fever-Tree founders have reportedly sold their shares worth £18 million in total as a result of demands by investors. However, they claim to still be sticking with the business and still have the majority of their shares.
Fees in investment banking sector across the world declined 29% during the first three-month period of 2016 as uncertainty in the global market halted deal proposing activities and other investment events.
Nestlé India is again facing controversies with its all-time favorite Maggi noodles. Recent lab tests show that the lead content is within permissible limits unlike monosodium glutamate which exceeds the allowable level.
Although Elon Musk was the first one to mention Hyperloop, two other companies have brought the idea closer to reality. Both companies are now preparing a track test and will begin to build the system.
FMA of Austria will investigate Raiffeisen Bank International and Hypo Landesbank Vorarlberg. The Austrian banks were named in Panama Papers in helping money laundering scheme.
Overstock.com is making a strategic investment in Caribbean digital currency firm Bitt. The $4 million in Series A will be allocated to improve Bitt’s software as well as expanding its operation across other Caribbean countries.
The Swiss bank which posted first full-year loss last year must take a drastic measure. It has to make another retreat in investment banking.
SunEdison is facing another lawsuit, this time from its subsidiary TerraForm. TerraForm accused its parent company for misallocating cash for its projects in India to SunEdison’s own balance sheet.
