Berkshire Hathaway made a significant investment in the energy firm Kinder Morgan during the final three-month period of 2015. This investment activity highlights Berkshire's increasing bet on the oil sector.
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Tim Cook Opposed The Court Order Demanding Apple to Bypass iPhone's Security
Apple CEO Tim Cook made an official statement appealing the court order to provide assistance breaking into an iPhone owned by one of San Bernardino mass shooter. Cook argued that helping law enforcements creating a backdoor to bypass the device’s security is something the company cannot and will not do in order to protect its customers from a greater danger.
US investment-grade maturities rise
The volume of maturities of US investment-grade companies during 2016 and 2020 will be $864 billion. This is record high for the US investment-grade companies. However, they can easily access financial markets for refinancing their debt, observes global rating agency Moody's Investors Service.
JP Morgan Predicted a Fall in Profits for Investment Banks This Year
A research conducted by JP Morgan analysts revealed that global investment banks would suffer a fall in profits this year. The fall could differ between regions, but average earnings are estimated to be down by 20 percent and revenues by 21 percent. Challenging economic environment is believed to negatively affect the global investment markets.
Sultan Al Jaber to lead Adnoc
UAE Minister of State Sultan Al Jaber has assumed the charge as Director General at Abu Dhabi National Oil Company (Adnoc). Al Jaber has to overcome turbulent conditions in the oil industry as the lower oil prices, oversupply and consumption are the major challenges ahead of him.
Latest News
Serial entrepreneur, advisor, and investor Schwark Satyavolu will join Silicon Valley investment firm Trinity Ventures. He will be taking care of fintech, a subject matter in which he has impressive experiences. Trinity Ventures will invest in new deals with its $400 million fund closed in November 2015 with the help and advise from Mr. Satyavolu.
The oil services company Paragon Offshore Plc filed chapter 11 bankruptcy after the announcement of debt plan. The main reason is to avoid protracted legal battles involving its former parent, Noble Corp.
Protenus has announced raising $4 million from a Series A fundraising round. The finance has been rendered from a group of investors led by Arthur Venture. The health data security service provider intends to expand its business all over the US through this fund.
Gogo Inc's stock fell 28 percent following the statement from its customer American Airlines stating that Wi-fi service is lacking. The US airline has filed a lawsuit against Gogo for failure of Wi-fi service. The Chicago-based technology company Gogo Inc offers in-flight Wi-Fi service to American Airlines and Delta Airlines.
Grand Rapids, Michigan mark the highest record in venture capital investment in 2015. A venture capital firm based in the largest city of West Michigan scored a 20% increase from previous year.
Carl Icahn reduced his shares in Apple by $7 million, along with other big hedge funds. Meanwhile, Tiger Global Management acquire more shares in the Cupertino-based company.
Essendant signed a deal to purchase office supply contract business from Staples and Office Depot. The acquisition assets worth over $550 million will enable Essendant to compete nationally.
Recent statements and reports acknowledged that China is closing its technology gap with the United States, especially in air forces. Chinese governments have been using resources to support modernization on the military. However, the pilots' ability between the two countries is still facing a huge gap due to experience and training program.
Joi Scientific has claimed for discovering technology to produce hydrogen from water on Tuesday. At the same time, the research firm discloses for raising $5.5 million fund for its Series A round. If Joi’s claims come true, the research firm will be able to redraw the global energy map.
