US-based coal mining company Peabody Energy Corp is facing a major problem over its $1.47-billion self-bonding practice. The coal miner has been negotiating with debtors for several months. Certain groups are criticizing the self-bonding practice, lodged complaints in courts against Peabody Energy Corp.
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Japan decides not to lift the ban on GPIF investing directly in stocks
The Liberal Democratic Party has shot down the request put forth by the Government Pension Investment Fund to lift the ban imposed on it to make direct stock investments. The LDP made a final decision on Monday to keep the ban in place, fearing the government fund would gain direct control over private companies as well as bring down the pension benefits in cases of losses incurred on investments.
Glencore Plc signs loans to refinance credit facility
Glencore signed new loan commitments of $8.45 billion revolving credit facility. The company took on the new liabilities when it was already struggling to pay off its existing debt of $30 billion. Despite being pulled to the lowest rank in the investment grade, the Swiss commodities trader received support from its loyal lenders, which came as a surprise for some.
3-D printer Massivit finds an investor in Stratasys
Stratasys, the leading player in the 3-D printing and additive manufacturing industry, has extended its investment arm towards the promising start-up, Massivit. The start-up is just the kind of venture Stratasys likes to support, with disruptive technologies like their proprietary Gel Dispensing Printing and the 1800 3D printer which produces 3D printed sculptures.
Zimbabwe purchases corn from Ukraine and Zambia as poor rainfall fails harvest
Zimbabwe purchased nearly 650,000 metric tons of corn from Ukraine and Zambia following a poor harvest. Dry climate has also limited grains output in Zambia, where the harvest is anticipated to fall nearly 30% in 2016.
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Standard & Poor's (S&P) has cut rating on Kingdom of Saudi Arabia (KSA) as it's suffering from lower oil prices. The long -term foreign and local currency sovereign credit has been lowered to 'A minus/ A-2' from 'A plus / A-1.'
Wal-Mart De Mexico SAB posted an 18.4% drop in its fourth-quarter net income. High spending during the fourth quarter affected the retailer's earnings.
A startup offering up to $10,000 loan to help couples fund their wedding had shifted its business concept to a crowdfunding platform. The move infuriates many couples expecting the loan, whereas the startup said that the couple wouldn’t have to pay it back as long as they stay together. The change of business plan was due to overwhelming demand and regulation challenges, stated the company.
On Wednesday, Meta demonstrated its new augmented reality headset at TED conference in Vancouver, Canada. The new Meta 2 headset mesmerized the audience and showed to be rival for Microsoft Holo Lens.
Kaiser Permanente Ventures offers equity investments to innovative healthcare companies. Hometeam offers elderly cares with digital touches in the metropolitan cities of New York, New Jersey and Philadelphia. Recently Kaiser has invested $5 million in Hometeam’s business through which it will expand business to other cities across the US.
Wavecell is a startup company that focused on providing cloud communcation service. The company has just received its Series A Funding led by Qualgro Asean Fund.
Kentucky and 26 other US states consider hemp cultivation and processing as legal. Industrial hemp and its derivatives are widely used in fabrics, shampoo, plastics, building materials etc. To avail the potential business opportunity, Seed CX has raised fund for $3.42 million aiming to run a platform for hemp and its derivatives.
SolarCity has left modest growth plan in the US market due to withdrawal of subsidy from renewable energy sector. Investment of $10 million by billionaire entrepreneur Elon Musk has surprised many. This acquisition is believed to bring back confidence among the investors of SolarCity as a long term investment.
On Wednesday, the data storage specialist NetApp reported its revenue at a lower than expectation. The company suffered a low demand of its product and will cut 12% of its employees.
