The US economy recorded better than expected performance during the fourth quarter enabling it to conclude 2015 on positive mode. Surpassing the forecast of 0.7 percent, the US economy grew one percent during September-October quarter in 2015 giving much leverage to the US government to tighten monetary policy.
Industry
Lumber Liquidators Stock Dropped as Cancer Risk Arose
Following CDC announement of the risk of carcinogen in its product, the company's stock plunged since last week. Lumber Liquidators is trying hard to win back trust from customers and investors.
Opportunity Network Achieves $150 Million Valuation From $100 Million In Just A Year
Opportunity Network introduces its eligible anonymous members in its platform to facilitate deals. The membership subscription fees generate sufficient revenue to grow the networking site up to a valuation of $150 million. Surprisingly, the network startup has grown up to a valuation of $150 million from $100 million in just a year without any fund from VC.
Petrobras Absorbs Shock On Latest Downgrading By Moody’s- Securing $10 Billion Loan From China
China has represented itself as a familiar lender to the Latin American Countries and businesses fighting for debts. In a similar approach, it has extended loan facility to Brazilian indebted oil giant Petrobras for $10 billion securing oil for Chinese companies. The announcement has appeared just after the latest downgrading by Moody’s to junk status following several other credit rating agencies.
Kumagai Gumi shares drop on new plans
Kumagai Gumi Co, a Tokyo Stock Exchange-listed Japanese construction firm, recorded hammering down of its shares. The stock suffered the most in over 13 years. The news that construction defects in a residential complex made Kumagai Gumi rebuild five apartments has hit hard shares and investors' confidence.
Latest News
Domain name Tesla.com is finally owned by Elon Musk's Tesla. All web traffic from the new website will now be redirected to the company's official page, TeslaMotors.com.
Did Kuaidi, the largest ride-hailing service in China is about to raise $1 billion the same amount that Uber spent last year for its expansion. It is going to be a tough competition for both companies since they are being backed up by other large companies such as Alibaba and Tencent Holdings Inc.
Robots are the best performer in repeating predefined tasks while lags behind in adapting with changes. Offering changed features in versatile range of models appear as the trend for recent day’s automobile industry, where human surpasses robots. Following the industry trait, Mercedes-Benz has brought back humans in S-Class production replacing robots.
The Kraft Heinz Company on Thursday reported its fourth-quarter earnings that outstripped analysts' estimate. The company also declared a quarterly dividend of $0.575 per common share.
Gap Inc. has announced its fourth quarter earnings on Thursday. The clothing retailer has represented a comparative feature with its year ago performances. It has also predicted for weaker earnings during the current year.
Republic Airway has sought immunity under bankruptcy followed by pilot shortages and other industrial odds. American Airlines has filed for bankruptcy in 2011 and now, the US regional carrier follows the trait in seeking clemency. However, Republic CEO expects the move will take the carrier to the new heights.
Anheuser-Busch InBev NV has reported a10 percent drop in profit for fourth quarter of 2015. The brewer is suffering from sluggish market in the US. As a result, revenues for fourth quarter fell to $3.23 billion from $3.33 billion.
Vision Capital has announced on Wednesday reaching an agreement for disposing of its consulting business arm to Maru Group. Lower growth rate and profit margin ration are believed to the reason to choose the consulting arm for selling. Through this deal, VC has removed the last hurdle to go for IPO.
Hedge funds are favoring eHi Car Services Ltd (NASDAQ:EHIC) stocks. Many hedge funds are reportedly increasing their collective stake in the China's car rental company.
