As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.
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Company Acquisition: Microsoft Acquired Music Player App By The Name "Groove"
Months after rebranding Xbox Music and relaunched it by the name Groove, Microsoft acquired a music player app that goes by the same name. The Montreal-based startup agreed to sell the name and technology to Microsoft, but the details are disclosed by both companies.
Major Analysts Update SoftBank Outlook To ‘Outperform’
Analysts have updated their outlooks towards SoftBank, majority of whom have put a ‘Outperform’ tag for the embattled Japanese concern. Meanwhile, SoftBank’s stock has witnessed a fall of 27.60% since July 2, 2015 ahead of releasing earning figures. The stock price fall is due to its $22 billion investment in Sprint which has turned to be bad debt.
Ratan Tata Invests In Moglix, An E-commerce Company Owned By Rahul Garg
Ratan Tata has made investment in a new venture Moglix, an e-commerce company owned by Rahul Garg. The B2B procurement company deals with like MRO's, fasteners and industrial electrical with manufacturers across India, China and many other Asian countries
Stentrode to channelize power of mind to move bionic limbs
The Royal Melbourne Hospital is on the verge of a medical breakthrough with its 'Stentrode' - a small, paper-clip-like brain implantation that is said to bring back mobility to paralyzed patients. This cure will eliminate the need of an open brain surgery, and the first clinical trials on human are slated to begin in 2017 in Melbourne.
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There is a ranking released by the financial information company Sageworks, which lists 15 businesses that are considered as the most profitable. These businesses are proven to gain more revenues compared to the others, and are good recommendations for new beginners.
For seven sessions in a row, European stocks suffered losses amid growing concerns about the global economy growth. The lower oil prices, disappointing quarterly results and sluggish global markets are also taking a toll on European stocks. Indicating the alarming situation in the European financial sector, the cost insuring debt against default reached its peak since 2013.
The International Energy Agency (IEA) has warned that short-term risks downside have increased as oil glut is expected to be worse than anticipated. With Iran resuming oil production, the sluggish global demand is adding further to the woes. OPEC's continuation of oil production is keeping pressure on oil prices.
HP's business started to tatter since inception of Meg Whitman in 2011. In 2013, Bloomberg has named her as one of the ‘Most Underachieving CEO’ in the corporate world. To hold HP in its business path, she has spit HP into two independent entities which is believed to reduce her pay package by 13% compared to the previous year.
US President Barrack Obama has finally disclosed the 2017 US budget details. Never to shy away from what he deems right, even in the last year of presidency, he has included his long-term liberal plans that have been widely criticized by the Congress. The highlighted ones are his global climate change initiative, fee levied on crude oil, and enhanced medical care for cancer patients and drug addicts.
AccelFoods promises financial and operative backing for six next-generation food and beverage startup companies, from their pre-seed through Series B stages. The investor has raised a fund of $20 million for this purpose, in line with its tradition of supporting the unique and innovative products in the market.
The offer is part of the company's strategy to gain income amid the increasing use of ad-blocking softwares. Websites had been losing significant advertisement revenues and develop other alternatives to bring ad-free experience while keeping the business going. The offer will start next week for $3.99 per month or $1 weekly.
The FAA issued an official warning to airlines that lithium-ion batteries powering most mobile devices including smartphones are dangerous to be brought and transported in the aircraft’s cargo. The warning was stated following a series of study involving previous incidents involving lithium ion batteries overheating.
The British company formed a partnership worth $7.6 million to develop hydrogen fuel cell technology for smartphones. The technology would create a need to modify the hardware of the smartphone to manage the chemical reaction waste. Intelligent Energy stated that if all goes well, the new technology could hit the market in two years.
