The Dutch banking major ING Groep's revenues for the fourth quarter were above the analysts' forecasts. ING's exposure to the oil companies is putting pressure on its stock, which suffered 20 percent drop. However, ING is also receiving indirect benefits from lower oil prices.
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South32 Reduces Asset’s Book Value Of $1.7B, Cuts South African Manganese Production And Jobs
South32 is to reduce asset's book value of $1.7 billion, decrease expenses and trim production. The plan will include the cut of around 620 jobs and the reducing of Manganese production in South Africa.
The US Dollar worst single day drop prompted Asian shares to climb higher as oil price increases
The US Dollar plunged to its worst single day drop outside of the 1998 and 2008 crisis today due to speculation regarding 'no rate hike' policy that the Federal Reserve might be implementing for this year. The plunged however, cause a reversal effect helping oil price to increase and help boosting Asian stocks.
Equipped With Daihatsu, Toyota President Eyes To Compete With Suzuki In The Indian Car Market
Toyota and Daihatsu have reached an agreement which is believed to be executed by August 2016. Under the agreement, Daihatsu will become a wholly owned subsidiary of Toyota by way of share exchange. Through the Toyota shared key technologies, Daihatsu will produce price efficient mini cars for itself and Toyota. Toyota President is believed to look for opportunity to dominate Indian car market snatching from Suzuki.
UK house prices up 1.7% on lower interest rates
The UK house prices rose for the consecutive second month in January 2016. The UK property market demand is growing in the wake of lower interest rates and encouraging job growth rate. The average cost of a house in the UK was up 1.7 percent in January.
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The Gulf establishment, Adeptio LLC has approached Kuwait's fast-food chain, Americana, for buying out the 66.8% controlling stake held by the Al Kharafi family valued at $1.7 billion. Currently, the investor is conducting the due diligence but the final outcome will be based on the approval of the Americana franchisers.
The US economy encouragingly created more jobs for the past two years and now is set for a slowdown, as economists predict. The prevailing credit conditions the US market indicate tightening of economy. The US private sector added 205,000 jobs in January as against 267,000 in December.
GoPro has represented fourth quarter financials on Wednesday. It has counted a loss of 8 cents per share in Q4 and yearly earning per share has been reduced to 76 cents a share. The yearly earning has been reduced by 42% from 99 cents per share, a year ago. Poor sales during the Q4 have been held responsible for the week financial figures. But the company itself has widened the loss margin through repurchasing own stocks. Not only that, it has allocated $264.4 million funds for further share repurchasing in 2016.
The rise of oil prices had brought positive growth to most of the Asian markets, except for Japan. On the other hand, European market had seen a drop. The oil prices increased overnight due to speculations that U.S Federal Reserve would possibly decide not to increase interest rates throughout 2016.
VirnetX has been in the limelight for its achievement in realizing $223 million from Microsoft in out of court settlements. Now the patent litigation company has won a court verdict that instructs Apple to pay $625.6 million for patent infringement issues. VirnetX has claimed for $532 million initially, but Apple’s deliberate infringement over the patented products has reportedly increased the amount.
Luxembourg has proposed to tap the mineral-rich asteroids orbiting between Earth and Mars for minerals that are scarce in our planet. Its deputy prime minister, Etienne Schneider, has already announced the roll-out of the initiative named SpaceResources.lu, which will be set up with the help of its US and European commercial partners.
Royal Dutch Shell said that its profit for the fourth quarter dropped 44% as the price of the crude oil tumble. The UK-based oil firm also confirmed that it is trimming 10,000 jobs, a move to reduce its costs.
The deal was a huge move forward for both Veolia and Kurion. Veoila is determined to expand its business to nuclear waste management and believes that Kurion is the perfect partner to achieve that goal. Kurion itself is a successful startup focusing in nuclear waste involved in the Fukushima nuclear incident clean-up in 2011.
Sharp Corp board has gathered today to weigh the bidding offers. The competition is between the Taiwanese electronics giant, Foxconn and the Japanese government-backed establishment, Innovation Network Corporation of Japan. While ICNJ has always been the favoured choice, Foxconn is giving it a stiff competition by way of doubling the offered price along with debt pay-offs and retention of management and employees.
