The global PC shipments are shrinking significantly with ever growing popularity of smart phones and tablets. Amid volatile market situation, Vaio, Toshiba and Fujitsu have been rumored to reach in a consensus for developing a PC manufacturing firm. However, it will be difficult for the joint ventured entity to spread dominance outside Japan.
Industry
Venture Capital Investment in Grand Rapids Hits a Record High
Grand Rapids, Michigan mark the highest record in venture capital investment in 2015. A venture capital firm based in the largest city of West Michigan scored a 20% increase from previous year.
Essendant to buy contract business from Staples and Office Depot
Essendant signed a deal to purchase office supply contract business from Staples and Office Depot. The acquisition assets worth over $550 million will enable Essendant to compete nationally.
Joi Scientific Claims For Producing Hydrogen From Water, Raises $5.5 Million Series A Round Fund
Joi Scientific has claimed for discovering technology to produce hydrogen from water on Tuesday. At the same time, the research firm discloses for raising $5.5 million fund for its Series A round. If Joi’s claims come true, the research firm will be able to redraw the global energy map.
Asian hedge funds look to safe haven after January crash
Hedge funds in Asia witnessed losses the most in January 2016. The financial markets sell-off in the month made hedge funds suffer losses over 10 percent. Asia-focused hedge funds recorded losses of 3.1 percent indicating the worst beginning since 2008.
Latest News
The UK's headline rate of inflation reached to 12-month high. However, it remained below the two percent target of Bank of England for two years. The consumer prices index rose following the price rise in oil, clothing and food products. Economists and consumers are looking to UK's central bank whether it'll raise interest rate or not.
Anglo American Plc suffered a pre-tax loss of $5.5 billion (£3.8bln) for 2015 year. The 2015 loss was more than twice the loss incurred in 2014. As part of its future strategy, Anglo American is planning to shift its focus to copper, platinum and diamonds.
Line Corporation, owning entity of MixRadio has studied that 65% of its app users are from Far Eastern Countries. To uphold the company priorities for going regional, Line has decided to shutter MixRadio. Meanwhile, its Music streaming app will be restricted for the users of Japan and Thailand only.
Michelin posted an increase of 19% in its earnings for the year 2015 helped by low raw material costs and its restructuring activities in Europe. The company also expects strong demand for its tires in 2016.
India's exports fell 13.6 percent from January a year ago and it has been dropping for 14 consecutive months, while imports contracted 11.01 percent. However, the Reserve Bank of India will not devalue its currency unlike China and Japan.
Gulfstream has introduced larger cabin containing personal jets, the G650 family which is capable of flying with 92% speed of sound. The aircraft, valuing $65 million is witnessing a huge demand. The aircraft manufacture is going to offer a probable delivery schedule of 2018 in the upcoming Singapore Autoshow.
Freeport-McMoRan has signed a definitive deal with Sumitomo in order to sell its 13% interest in Morenci for $1 billion cash. The company intends to utilize the transaction proceeds to repay its bank loans.
Shareholders of the Italian tyre maker Pirelli has nodded in favor of the proposed merger with Marco Polo Industrial Holding. Marco Polo’s parent concern ChemChina has acquired Pirelli for $8.25 billion last year. The merging is scheduled to be completed by mid 2016.
General Motors discontinued and then sold its Saab and Saturn brands. Ironically, it made an announcement today that these cars from both brands consist of parts that could explode from the Takata airbag. The said cars’ manufacturing date was way back 2003 and a total of 180,000 vehicles are recalled in the U.S. while 20,000 units are from Canada.
