The analyst at Keefe, Bruyette & Woods believed the breakup would increase shareholders value by 57%. However, Citigroup has asked its shareholders to vote against the too-big-to-fail proposal.
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Apple Introduces iPhone 5S: The New iPhone SE
Apple has unveiled the new iPhone SE- iPhone 5S on Monday at its Cupertino campus. The new product with 16GB storage will cost $399 and with 64 GB for $499. The slimmer product has been developed following stronger opposition from the Apple customers against upgrading the 4.7 inches and 5.5 inches smart phones.
ICRA foresees 7.7% growth for India in 2016-17
Rating agency ICRA forecasts India's gross domestic product (GDP) growth rate at 7.7 percent for next financial year 2016-17. The rating agency cites reasons for GDP growth rate to the implementation of 7th Pay Commission, OROP recommendations and domestic consumption.
Wall Street is Skeptical About Apple Being Google’s Cloud Service Big Costumer
Deutsche Bank expressed its skepticism on the hype created around Apple’s shift to Google’s Cloud Platform from Amazon’s AWS. The bank believes that the move will not have a significant impact and that Apple is just trying to reduce its reliance on just one service.
Turnbull Advocates Clean Energy for A Greener Australia
Turnbull is switching to a greener Australia avdocating the use of clean energy. The government will support Clean Energy Finance Corp. and the Australian Renewable Energy Agency and develops Clean Energy Innovation Fund worth A$1 billion.
Latest News
Sales of existing homes declined in February, reflecting poor demand in housing sector amid higher prices and weak inventory.
In the continuing saga on Valeant, CFO Howard Schiller has been asked to resign. The company will also find the replacement of CEO Michael Pearson, and putting Bill Ackman in its board.
As sales in PC industry weakening, chipmaker were traded low on Monday. Intel and AMD were hurt by the low sales.
Marriott and Starwood are agreeing on a new deal that would total in $13.6 billion for a merger of the two groups. The merger would form the world’s largest hotel operator with 30 brands and more than 5,500 hotels worldwide.
CarDekho.com and CarBay.com's parent company Girnar Software has received a late-stage funding round led by Google Capital. The new fund will be allocated to further improve the company's car portals' technology as well as expanding services.
Fantasy sport games FanDuel and Draft Kings will stop their paid contests in New York. The companies will wait for regulation to legalize their operation.
The Chinese central bank governor has warned over rising debt levels. To tackle the abnormal situation, the central bank feels necessity for promulgation of regulation guarding excessive leverage in foreign currencies. Meanwhile, the Chinese government vows to respond according to the call of time.
Not long after Bumble Bee tuna announced a total recall on its product, Chicken of the Sea tuna followed the same revelation.This is due to the discovered deviation on the sterilization process on the same facility that packaged the Bumble Bee tuna. The malfunction in the processing equipment might have uncooked or undercooked the tuna that could lead to spoilage causing contamination and life-threatening diseases when consumed.
Duke Energy will buy biogas produced from swine and poultry wastes. The biogas will then be converted to electricity that could power up about 10,000 homes yearly. Duke Energy works with Carbon Cycle Energy to make the project successful.
