S&P rating service on Tuesday downgraded Sprint credit to B, citing a challenging environment for the wireless industry. Morningstar and Moody have also demoted Spring credit rating.
Industry
Theme Park: Shanghai Disneyland Announced Ticket Prices as The Lowest Among All Other Disney Parks
The Shanghai Disneyland's ticket prices would be 20 percent cheaper than Hong Kong Disneyland at 539 yuan, even though the Shanghai's area would be much larger. After being constructed for more than six years, the park would be ready to open for public this summer with possible further expansion.
Ningbo Joyson to acquire Key Safety Systems
Ningbo Joyson has signed a definitive deal to acquire US-based airbag maker Key Safety Systems. KSS hope that the merger with Joyson will further accelerate its business and fasten its future growth.
Vodacom's Q3 revenues up 8.7%; sees weaker growth
Vodacom Group Ltd has recorded 8.7 percent growth in third quarter revenues. The South Africa-based mobile phone company is focusing on subscribers and high-speed network expansion. Vodafone is expanding internet services and strengthening its network amid rising domestic competition.
China's gold demand rises as investors seek safe haven
The gold buying demand from China is surging from last December onwards owing investors' priority to safe haven assets. The sluggish stock markets, weaker currency and lower global prices are prime reasons for the rising demand for the yellow metal. The consumption rose 3.7 percent to 985.9 metric tons in 2015.
Latest News
Citigroup holds view that it's too early to come to a conclusion about the state of the world's largest economy. It advises investors not to offload stocks over China. Citigroup in its latest research reports terms the present uncertainty and sluggishness in the Chinese economy and markets as a 'correction.'
NetApp has completed its acquisition of SolidFire which is a scale-out flash array maker. Now customers have an advantage to meet their needs for data services by accessing industry's broadest all-flash portfolio.
The latest forecast indicates 50 percent rebound in oil prices by the end of 2016. The oil price could be higher by $15 per barrel this year taking the New York crude to $46 a barrel by fourth quarter and Brent to $48 during the same period. The drop in US shale output is likely to drive oil price up in the second half of 2016.
The U.S. Air Force said Boeing would build the planes to replace the two outdated model of Boeing VC-25 airplanes used by the U.S President. Boeing was the sole bidder, and the initial $25.8 million contract to reduce risk and lower the cost of the program by looking at the tradeoff between the requirements and design of the new plane.
Woodford Investment Management and Allied Minds lead the funding to raise a $22 million for Federated Wireless on Monday. The company will develop a high-quality wireless capacity for Wi-Fi and wireless networks.
Xerox Corporation will be split into two separate business entities for hardware and services businesses. It's learnt that activist investor Carl Icahn will get multiple positions on the boards of the two companies including three on the board of services company. Xerox's fourth quarter numbers are expected to be released on Friday and an official statement about division may also be announced simultaneously.
After a massive loss of $4.3 billion in Q4, Yahoo will struggle much more to return to profitability. The Internet company decided to cut its employment by 15%, close some offices and explore strategic alternatives.
Chipotle said that its quarterly net income plunged 44%, marking it the worst period after the outbreak of an E.Coli. However, the profit was higher than the prior outlook.
Google's parent company, Alphabet, is now the most valuable company in the world beating Apple. The $568 billion in valuation company recorded a total profit of $4.9 billion for its fourth-quarter earning.
