The Norwegian government is reeling under pressure owing to oil price drop. The lower oil price is eroding revenues for the government. The Norwegian government is counting on state's dividends from Statoil ASA.
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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.
Eyeriss: MIT Introduced Chip Capable of Deep Learning Using AI Technology
An MIT research team has introduced a new computer chip, Eyeriss, that will allow IoT devices to go through deep learning process. Data collected by the devices, is currently uploaded to the internet for processing by power servers. Eyeriss chip processes the collected data locally using the neural technology and thus ensures data security and reduces power consumption.
AXA SA purchases 8% stock in Africa Internet Group
AXA SA has partnered with Africa Internet Group to become the sole supplier of insurance products in Africa. The transaction will promote AXA's business strategy and help the French insurer to serve the African society.
India Startup: Zomato Becomes India's First E-Commerce to Break Even
The company announced that it had broken even in India and six other foreign countries, making the Indian e-commerce the first to achieve that milestone. Zomato, valued at over $1 billion, is going to start another funding round before becoming profitable by mid-2016.
Latest News
As part of reducing costs, the Japanese government is seeking lower drug prices by moving towards more generics. The ageing population and rising debt are taking a toll on the Shinzo Abe's government. The Japanese government is aiming to reduce prices of branded drugs.
Chobani, founded by billionaire Hamdi Ulukaya, turned down an offer made by Pepsico this Friday. The beverage giant wanted to buy out the majority stake in the Greek yogurt maker, but Chobani was only interested to sell the minority stake, resulting in the deal fallout.
iRobot is selling its military division of its company for up to $45 million. The sale was because of pressure from shareholders.
Qube Holdings have come up with a more tempting offer than its competition, Brookfield, in acquiring Asciano. A greater cash component thrown into the deal has tipped the scales in their favor, which Brookfield has only five days to match.
GitHub is experiencing a huge inner havoc as many executives flee from the company. Chris Wanstrath has been overhauling the firm's culture backed by its board.
Peugeot suspended sales from Iran in 2012 following nuclear sanctions expansion to the automobile sector. Now that the sanctions are lifted, Peugeot immediately strives to reinstate partnership to come back to the markets that cost it 10 percent of global deliveries when the sales are suspended. It costs Peugeot $446 million in form of compensation and services.
Sony has kept its words through releasing Xperia Z5 and Z5 Compact smart phones in committed date. But the US oriented version of the Z5 genre hasn’t inherited the biometric authentication system. This lacking will affect the consumers using Android 6.0 and thus shave Sony’s profit margin to some extents.
Morgan Stanley intends to hire additional bankers in 2016 in order to contend with its rival Nomura. The company failed to present the exact number of staffs being hired.
Private equity firm Silver Lake will invest $500 million in cyber security company, Symantec. The money from the investment will be used by the company to buy back shares and issue a $4 dividend to shareholders.
