LinkedIn on Thursday reported its fourth quarter earnings in 2015. The number is better than analyst expectation, but its stock dropped to 30% because of weaker earnings guidance that analyst forecasted.
Industry
Julius Baer to pay $547.25 million to US authorities
Julius Baer Group said it has attained the last settlement phase with the US Department of Justice. As per the terms of the deal, the Bank agreed to pay $547.25 million to evade prosecution.
Apple News: Users Could Soon Trade-In Old Models and Broken iPhones For a New One
The program is an extension of the Reuse and Recycle iPhone program that originally didn't include broken iPhones in its trade-in program. The broken iPhones would be credited for $50-$250 that could be used to get a brand new iPhone. The extended program will be available in the U.S shortly within a week.
ArcelorMittal raises almost $4 billion to tide through troubled waters
The leading steel company, ArcelorMittal, has no option but to raise money to pay off its huge debts. The company has resorted to issuing shares and selling off its minority stake in Gestamp, the Spanish auto-parts manufacturing company. The decision should fetch Lakshmi Mittal almost $4 billion - $3 billion from share issue and $1 billion from Gestamp - and reduce the debt burden to some extent.
Telefonica Brasil SA Expects a Sales Growth Amidst Economic Slowdown
Vivo, the trade name of Telefonica Brasil prepared a strategy in the worsening economy. The strategy is expected to increase sales and efficiency.
Latest News
South32 is to reduce asset's book value of $1.7 billion, decrease expenses and trim production. The plan will include the cut of around 620 jobs and the reducing of Manganese production in South Africa.
Toyota and Daihatsu have reached an agreement which is believed to be executed by August 2016. Under the agreement, Daihatsu will become a wholly owned subsidiary of Toyota by way of share exchange. Through the Toyota shared key technologies, Daihatsu will produce price efficient mini cars for itself and Toyota. Toyota President is believed to look for opportunity to dominate Indian car market snatching from Suzuki.
The UK house prices rose for the consecutive second month in January 2016. The UK property market demand is growing in the wake of lower interest rates and encouraging job growth rate. The average cost of a house in the UK was up 1.7 percent in January.
Investors are concerned as the US stock index futures turned weaker. The marginal recovery in oil price amid drop in the US dollar puts the Wall Street on cautious note. On the other hand, Asian and European stocks were trading marginally higher on oil price recovery and drop in US dollar.
The retail tech startup Salesfloor closed $3 million seed fund on Tuesday. The fund was led by BDC Capital IT Venture Fund and two London-based investors Jamie True and Jon Claydon.
The Dutch banking major ING Groep's revenues for the fourth quarter were above the analysts' forecasts. ING's exposure to the oil companies is putting pressure on its stock, which suffered 20 percent drop. However, ING is also receiving indirect benefits from lower oil prices.
The US economy encouragingly created more jobs for the past two years and now is set for a slowdown, as economists predict. The prevailing credit conditions the US market indicate tightening of economy. The US private sector added 205,000 jobs in January as against 267,000 in December.
GoPro has represented fourth quarter financials on Wednesday. It has counted a loss of 8 cents per share in Q4 and yearly earning per share has been reduced to 76 cents a share. The yearly earning has been reduced by 42% from 99 cents per share, a year ago. Poor sales during the Q4 have been held responsible for the week financial figures. But the company itself has widened the loss margin through repurchasing own stocks. Not only that, it has allocated $264.4 million funds for further share repurchasing in 2016.
The rise of oil prices had brought positive growth to most of the Asian markets, except for Japan. On the other hand, European market had seen a drop. The oil prices increased overnight due to speculations that U.S Federal Reserve would possibly decide not to increase interest rates throughout 2016.
