Uber’s self driving car project has first drawn attraction with poaching 50 robotics researchers from CMU in early 2015. Recently it has appeared in the news headline again with the announcement of developing a test driving site for its self-driven cars in Hazelwood of Pittsburg. Though some automakers predict for introducing their autonomous vehicle by 2020, but Uber has kept mum in this regard.
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Chesapeake Energy posts Q4 loss on heavy write-down
Oklahoma-based Chesapeake Energy has posted losses over $14 billion for 2015 and a net loss of $2.23 billion or $3.36 a share for the fourth quarter. The major reason for deep loss was writing down value of oil and gas fields in the wake of prolonged lower oil prices. However, the loss was better than the market forecast.
Dollar rising as Nikkei further moves up
US dollar against Yen is rising as renewed buying support is propelling Japan's Nikkei index upwards. The priority shift among some investors from traditional safety net of Japanese currency to equities was the major reason on Nikkei's rise. The market players are eagerly waiting for the outcome of G-20 meeting this weekend in Shanghai.
New Zealand can sustain low inflation according to Finance Minister Bill English
According to Bill English, New Zealand can sustain low inflation as the central bank aim to reduce borrowing costs, if needed. New Zealand is hoping to achieve economic stability amid the global financial crisis.
Jacob Zuma fails to fulfill economic promise to South Africa
President Jacob Zuma is at the center of criticism over lack of infrastructure facilities to attract foreign capital and global companies. All quarters of the society are calling for government's commitment to restore business confidence on South Africa.
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The economy in Alberta will continue to shrink for the next two years amid weak crude prices globally. The province's shortfall in 2017 -2017 is anticipated to outstrip the October outlook by almost $5 billion.
Broadway ticketing mobile app has secured a Series B funding. TodayTix has also expanded its coverage beyond Broadway to other American theaters and abroad.
Google has planned to introduce WiFi network service in San Francisco during 2007 in collaboration with Earthlink. The initiative ultimately has gone into vein. Finally another Alphabet subsidiary, Google Fiber has announced introducing high speed gigabit internet service to some select places of San Francisco.
South Africa Tourism Minister Derek Hanekom said in the Meeting Africa 2016 forum that the boost in tourism could benefit the local economy. Tourism has been increasing phenomenally in recent years as the government aims to invest more in the sector.
UberMOTO is now made available in Bangkok competing GrabTaxi's GrabBike. Due to the staggering loss it incurred in China, Uber finds Bangkok as a fit location to pilot its motorcycle service program that will give two free rides to first-time riders until March 15 as its celebratory offer.
The Series A round was announced on Wednesday. The company has also licensed the rights for multiple immuno-oncology programs from Stanford University.
Battery Ventures X has been closed in February 2013 with a fund of $900 million. Now, the Battery Ventures XI is going to be closed at $950 million, surpassing the predecessor funds. A large number of venture firms are expecting to receive funds in 2016, which may be good or bad news for some institutional investors.
The newly-elected managing director of the IMF, Christine Lagarde, spoke at the Global Women’s Forum 2016 regarding the global economy, especially in the wake of the China economic slowdown. Despite the prolonged slowdown, the IMF foresee that China’s lower growth was deliberate and healthy.
Led by technology sector, venture capital (VC) investments in Canada reached 10 year high in 2015. Canadian Venture Capital & Private Equity Association (CVCA) said 536 deals in funding for entrepreneurs raised $2.25 billion in 2015.
