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.
Industry
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.
Nissan surges 12% most since 2009 on $3.5-bln buyback
Registering the highest since April 2009, Nissan Motor Co's stock surged 12 percent following its buyback news. Nissan has announced its plan to buyback $3.5 billion worth shares.
Japan's factory output up while retail sales shrink
Beating market predictions, industrial production in Japan rose during January 2016. On the other side, retail sales eased 1.1 percent. The mixed situation in the world's third largest economy is signaling ongoing uncertainty about GDP growth rate.
Latest News
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.
The King of Good Times, or Vijay Mallya, reached an agreement with spirits giant Diageo to leave the booze business. He is resigning his position as United Spirits Ltd chairman while Diageo takes full management ownership of the company.
As the birthplace of venture capital in 1960's, a report from Martin Prosperity Institute showed that San Francisco is still leading venture capital investment in the United States. While New York and East Coast region followed behind.
