Canadian company GuestLogix Inc has received court approval for implementing sale and investment solicitation process (SISP). Canaccord Gunuity Corp will be financial advisor to the company under the SISP. The bidding process is being executed in a phased manner.
Industry
American International Group, Inc. Reported Larger Than Expected Net Loss of $1.8 Billion in Q4 2015
American International Group, Inc. reported a bigger quarterly loss than expected. The company was hurt by weak underwriting and investment return. The big loss in Q4 made its full year income dropped by more than 70%
Tokopedia makes its presence in Indonesia amid doubtful investors
Tokopedia, a start-up founded by William Tanuwijaya, is making its presence in Indonesia with its excellent product portfolios. Experts believe that the economic growth in the nation will drive the start-ups to reach its financial stability.
BHP Billiton chases oil more closely than iron ore
Shares of BHP Billiton, a mining and petroleum firm in Melbourne, started chasing oil prices very closely as they entered into the horrible downturn period in the oil industry. Analysts expect the miner to rally by nearly 50% in the coming months.
Qubit Big Data Analytics Scored a $40 Million Series C Funding
London-based Qubit received a Series C funding of $40 million. Goldman Sachs was leading the funding for the big data analytic platform which was announced on Monday.
Latest News
HSBC Holdings Plc is not thinking it's time to deepen cuts at its securities unit. The bank's investment unit is suffering from drop in trading revenues amid sluggish financial markets. HSBC Holdings is aiming to reduce costs by $5 billion by 2017.
Investment inflows into oil and gas projects are dropping significantly. The investments in oil projects in 2016 is forecast to fall below £1 billion from the five-year annual average of £8 billion.
The renewed signs of prospects in China's steel industry propelled the copper prices move up on Monday to the highest in two weeks. Investors also reacted positively to the China's securities regulator head's resignation. Copper prices rose in four of five weeks.
China’s ruling party decided to replace the country’s chairman of the securities regulator, Xiao Gang, with former central banker Liu Shiyu. The regulator has taken the blame for failing to stabilize the market turbulence in the country over the year.
Google Translate has announced absorbing 13 more languages to its service arena on Wednesday. Google Translate works on machine learning technique. So contributions, from Translate Community of 3 billion users, have been sought to improve the service. Google claims to offer translation for 99% things appearing in the web.
Asian stocks rebounded on Monday ahead of G20 Finance Ministers meeting, which is scheduled on this weekend. Investors are positively looking to reassurances about global economy growth.
5G has become the highly anticipated high speed data transfer to support Internet of Things. On Sunday, Nokia CEO said that some part of the fifth generation network could be available sooner.
Facebook has announced forming a social VR team. The team is led by two executives, Daniel James and Mike Booth, both from the video games industry. The team is expected to compete with several startups trying to bring video conferencing and social networking into VR.
Baltimore private equity firm Ecosystem Investment Partners (EIP) announced on Tuesday that they closed its third fund at $303 million, overriding its target of $200 million. With such amount of equity capital commitments, Monument Group Inc. is to serve again as exclusive placement agent.
