The oil price drop is forcing several mining and exploration companies to reduce costs and investments. As a result, the investment in US mining and exploration fell 35 percent in 2015. Some mining companies have started applying for bankruptcy protection.
Industry
Saudi Prince Al-Waleed buys some Lyft shares for $148mln
Two prominent investors in Lyft Inc sold some shares to Saudi Arabia's Prince Al-Waleed bin Talal for $148 million. The latest deal puts Lyft's valuation at $5.5 billion from $275 million in May 2013.
Legendary Sports Agent Leigh Steinberg Partnered Alpha Strategies in Venture Capital
Leigh Steinberg, the legend in sport agent, teamed up with Alpha Strategies for investment in tech startups. Steinberg has raised $50 million for investment fund.
OPPO Releases Aussie Emoji Keyboard App For Androids
Three out of five Aussies considers emoji as the universal language for messaging. OPPO Mobile Australia has released Aussie Emoji Keyboard reflecting the spirit of Aussie culture. Primarily the keyboard features more than 40 Australian themed emojis and available only for the Android users for free in the Google Play Store.
Mitsubishi to invest P4.3 billion in Philippine market
Mitsubishi Motor Cop. announced its intention to invest nearly P4.3 billion in order to commence its production of sedan and hatchback styles of Mirage model in Philippines. The investment activity will help the company to withstand the global economic slowdown.
Latest News
Nissan has introduced the all new Armada 2017 full size SUV on Wednesday. The second generation flagship SUV completes Nissan’s transformation of its SUV and crossover lineup that started three years ago. The SUV will be available with three trim levels in both two-wheel and four-wheel drive- SV, SL and Platinum.
Zynga posted a net loss of $47 million in the fourth quarter ended December 31, 2015, compared to a net loss of $45 million in the comparable period last year. The company expects to launch new games in 2016.
Aplos, software company that build software for churches and nonprofit organizations received a $4 million in Series A funding from San Joaquin Capital. The firm believes that Aplos has untapped market and strong position to grow.
Prudential Financial has announced its fourth quarter financials of 2015 on Wednesday. Assets under management have been amounted to be $1.184 trillion on December 31, 2015. It has been compared to $1.176 trillion existed a year earlier. The quarterly earning will be communicated live for the investors at 11 am on Thursday.
The changes are part of the government's economic stimulus package, expected to boost the country's economic growth and create job openings. Indonesia's new regulations on investment would loosen current restrictions on foreign investments in various sectors, including e-commerce, retail and healthcare.
As CEO Elon Musk promised investors to bring the company to profitability in 2016, Tesla shares rose. However, investors still have concern with the company's performance as it posted another loss in Q4 2015.
Tesla reported loss in the fourth quarter of 2015 on Wednesday. The carmaker said it lost $114 million on an adjusted basis, but its share increased in after hours trading.
ARM Holdings, the chip designer will try its endeavor into automotive industry. The company planned its diversification amidst the slowdown in revenue from smartphone sector and a decline in its stock.
Sysco has initiated a process to acquire US Foods for $3.5 billion in 2013. The effort has been blocked by a federal judge under certain grounds. The debt burdened distribution giant has finally opted to go for IPO on Tuesday. Though size of the IPO hasn’t been mentioned clearly, but the Form S-1 suggests valuation of $100 million which may be revised later on.
