U.S. stocks bounced back after being dragged down on Wednesday by volatility in China. Global market followed to regain, while oil price began to stabilize.
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Google- Movidius Joint Ventured Phones Will Analyze Visions With Human Rationality
Movidius, a chip maker, working on neural network technology has announced collaborations with Google on Thursday. Under the partnership agreement, Google will arrange license for some low power chips of Movidius. In return, the search engine provider will be able to use the machine learning and computer visioning technologies to its mobile devices. Computer visioning capabilities will enable users to experience low latency on their mobile devices.
What will be the 'Uber of Healthcare'?
The healthcare industry has yet to see a service that could completely change the industry similar to how Uber and Airbnb change their respective industries. Industry professionals give their opinion on what could become the big game-changer for the healthcare industry.
Gold price retreats from 12-week high on US Fed statement
Gold soared to three-month high early this week as investors switched over to safe have following the concerns about the global economy. The US Federal Reserve indicated a challenging global economy and this may not prevent it from raising interest rate. Gold price reached to $1,127.80 on 27 January and this propelled investors to book profits.
Gasoline tumbles to 7-year low at $1.91/gallon
The average gasoline price fell to seven year low and is hovering at $1.91 per gallon in the US. If crude oil price continues to move upwards, then the gas price fall may rebound in the near future. According to AAA, the average may not go above $3 a gallon in 2016. Gasoline price fell 14 cents during the past two weeks.
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Deutsche Bank AG reported €6.8 billion ($7.2 billion) losses in 2015. As a result, co-CEO John Cryan and Juergen Fitschen announced on Thursday that the management board will not receive bonus.
Speculation over production cut and held the oil price to around $30 a barrel, but uncertainty still lingers. Meanwhile, U.S inventories are reported to reach its highest level of crude stockpile.
The US housing market was boosted at the end of the year 2015 that marked the best year for existing and fresh home sales since 2007. Nearly 501,000 fresh homes were sold the previous year, an increase of 14.5% from 2014.
The Barack Obama administration announced more restriction lift on Cuba thus helping to improve the country's economy. The restriction lift will allow film shooting, travelling access and also a direct trade with the state run enterprise there.
President Obama has rolled out a new set of regulations that lifts the Cuban trade embargo to a certain extent. The relaxed rules allow easy facilitation of trade, travel and finance between the two governments, a move taken to end the age-old cold war between them. While the embargo cannot be lifted completely unless Congress gives their consent, the Obama administration is convinced that this is a step in the right direction for improving the condition of the island.
The businessman is considered as one of India’s most active investor. Ever since he retired as the Tata Group chairman, Ratan Tata has backed more than 20 startups until now. He is especially experienced in the tea markets, and Teabox is delighted to have him as an advisor as well as an investor.
Many Chinese factories are being abandoned due to the downturn in the country. This has caused millions of workers unemployed, and many of the remaining workers should have their salaries cut.
Freeport-McMoRan said that it has planned to trim up to $10 billion debt through earnings from joint venture transactions and asset sales. The mining group also reported a loss of $4.1 billion for the fourth quarter.
China’s central bank, the People's Bank of China is putting the largest amount of cash into the financial system in nearly three years which is around 340 billion yuan. The move was done as the bank is preparing for lots of cash out as it is nearing the Lunar New Year.
