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.
Industry
AreaMetrics receives $2 million from seed funding round
AreaMetrics has completed a seed funding round of $2 million. The financing round was headed by Quest Venture Partners and Startup Capital Ventures.
S&P 500 index 2% upside, 20% downside, says Gundlach
Money manager Jeffrey Gundlach foresees the possibility of Standard& Poor's 500 index moving two percent upside and 20 percent downside. He considers the recent rebound in the market as a 'bear market rally.'
Statoil's venture capital fund makes its first investment in wind energy sector
Statoil Energy Ventures announced its first investment worth at about US$3 million in United Wind. The fund plans a total investment of $200 million in wind energy over a period of 4 to 7 years.
Canon, Biggest Contender for Toshiba Medical Unit, Offers $6.2 Billion
It's a race for Toshiba Medical Unit between Canon, Fujifilm Holdings, Konica Minolta and Permira Holdings. Nikkei said Canon has the highest bid amounting to $6.2 billion. Whoever the winner is, will be decided on Wednesday.
Latest News
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.
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.
Hyperloop, a high-tech futuristic transportation system initiated by Elon Musk, is now in progress with the help of crowdsourced teams formed after Musk open-sourced its blueprint. The technology will be tested this summer at SpaceX headquarters and is expected to be operating by 2020.
Long reluctance to e-commerce have delayed Costco operation to fully utilize the power of Internet retail. However, it seems the company has to start further the initiative as slow growth in Q2.
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.
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.
