Fastjet has issued a profit warning once again owing to weak demand for flight journey. The company projects 2016 results to be below analysts' projection.
Industry
Cisco to invest $500 mln in Germany, $150 mln in Slack Technologies
Cisco Systems Inc is investing $500 million in Germany and $150 million in Slack Technologies Inc. The technology major is working closely with German public sector companies on technology projects and the government in formulating technology policies.
It's Over For Sanofi and Merck European Joint Vaccines Venture
Drug makers Sanofi and Merck & Co. will part ways by the end of the year sealing their partnership for the European vaccines joint venture. Sales has been declining and both companies agreed it is better if they were better off running their own businesses.
Dunkin’ Donuts Expands Mobile Ordering to Rhode Island and Massachusetts, Aims to Roll the Service Nationally
Member of Dunkin' Donuts's reward program in Rhode Island Massachusetts can now enjoy a mobile ordering service via "Dunkin VIP" mobile app, available for iOS devices. The company is seeking to roll out the program nationally and is collecting consumer data to achieve that goal.
Facebook Cancel Ad Projects Due to Bots and Low Quality Ads
Atlas Solution, a subsidiary of Facebook on Monday confirmed to cancel plan to integrate buying platform to its advertising platform. Bots and low quality ads has been the main reason.
Latest News
Brazilian iron ore miner Vale and Australian miner Fortescue, both have reduced their debt burdens significantly through disposing less prospective assets. Under such situations, news for tying up with each other seems to be unusual. But analysts observe the move as highly strategic to cope up with the market situation.
The Bank of Japan is reportedly anticipated to reduce its price and economic outlooks for the next fiscal years at a quarterly appraisal that is scheduled in April. The bank is trimming its growth outlook citing the failure of its previous stimulus pack.
Snapchat business is new, still evolving and advertiser interest is also experimental. But the app service provider has recorded revenue of $100 million during October last year. The company has set goal for up to $350 million revenue during the current year.
Gree, the largest Chinese air conditioner maker has been witnessing sluggish growth in its home appliance business. The home appliance manufacturer has announced on Monday acquiring electric vehicle manufacturing company Yinlong New Energy Co. Through this acquisition, another giant steps into the emerging electric car market.
New York-based hedge fund Visium Asset Management is facing probe by the US Securities Exchange Commission (SEC) and Justice Department over its trading and valuation issues. Visium's exposure to healthcare sector is under scanner.
All the major European banks are either shrinking their businesses or just pulling out from the US market. Ignoring the market odd, RBC has strengthened its operations in the less competitive market and capable of getting enlisted among the ten largest US banks. Getting inspired, RBC plans for further strengthening its US investment arm.
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
Malaysian palm inventories dropped to an 11-month low during February as poor weather spoils crop harvest. Palm production fell 3.5% to 1.09 million tons, the lowest since the period 2011 January.
Salesforce's Chief Executive Officer (CEO) Marc Benioff is witnessing a major shift in global business software segment. He said the enterprise software space is moving towards more smarter and more predictive software.
