Several firms from Canada, China and Europe among 77 renewable energy firms have submitted bids for solar projects in Australia. The Australian Renewable Energy Agency (ARENA) has shortlisted 22 projects, which will have capacity of 766 megawatts at combined project cost of $1.68 billion. The solar energy projects developers will also receive a grant of $30 million for each project from the Australian government.
Industry
Morgan Stanley Refurnishes Fixed Income Division, Names Sam Kellie-Smith As The New Head
Morgan Stanley, has been reported to tatter with its fixed income division. Following the industry precedence of changing or reshuffling the executives, it has named Sam Kellie- Smith as the head of fixed income and commodities. The Wall Street Bank’s recent moves haven’t surprised the analysts at all.
Qualcomm & TDK Form $3 billion Venture To Develop Smart Phones Using Radio Frequency Chips
Qualcomm Inc. and TDK group tie up to form a $ 3 billion project in Singapore. After completion of the venture by 2017, Qualcomm will own 51% of the new company with a provision to purchase TDK’s stake at a later time. Following the joint venture, Qualcom’s share price has fall a little but TDK share price has jumped by 5.5%, highest change within last two moths.
Goldman Agrees To Pay $5.1 billion, Resolves 7 Years’ Pending Mortgage Security Dispute
Goldman Sachs Group Inc. has finally agreed to pay $5.1 billion on Wednesday to resolve a seven years’ pending dispute over faulty mortgage securities. The penalty amount remains lower compared to those counted by other Wall Street competitors. Fourth quarter profit of the firm may be hit by the penalty counting. But investors welcome the settlement and its share price rises by 1.5% on Thursday.
Ford Surpasses Competitors, Test Drives Autonomous Car First In Snowy Conditions
Ford has succeeded in test driving its autonomous cars in snowy conditions surpassing all of its competitors. The carmaker’s self-developed 3D maps have enabled in built LIDAR and cameras to drive the autonomous car through controlled environment. But the problem hasn’t been solved totally. Still snow or rainfall makes the guidance system to falter till now.
Latest News
Standard & Poor's (S&P) has downgraded credit rating of Tata Steel's bonds. S&P cited reasons such as the poor operating performance and high leverage at Tata Steel for downgrading. Indian steel industry is suffering from glut in production and surging imports.
Bank of England has been keeping its interest rates at the lowest point at 0.5% since March 2009. However, some signals of the interest rate upsurge will be a shock to some people in Britain.
Samsung Electronics announced that it will produce the latest Qualcomm processor. The Qualcomm Snapdragon 820 will be mass produced using Samsung technology.
Google’s product management VP, Clay Bavor, is appointed as the head of its newly created virtual reality (VR) computing division, showing that the tech company is now taking aggressive moves in the VR industry.
Self-driving car manufacturers submitted their first disengagement reports to California’s Department of Motor Vehicles.
The operator of Turkey’s busiest airport, TAV Havalimanlari Holding AS, is in talks to invest in businesses in the Philippines and Belgrade.
Aston Martin confirms a brand new 5.2-litre, twin-turbocharged V12 engine through a video posted online.
Uber has changed its driver recruitment policy and advised the previously rejected applicant seeking for drivers’ job to take the benefit of proposition 47. This law allows nonviolent criminal offenders to downgrade their offence level to misdemeanor through submitting applications. Uber’s effort is believed to benefit the released inmates who aim to rebuild their lives.
GoPro Inc., Sun Mateo, California based company is going to cut 7% people out of its 1500 employees following poor sales revenue in Q4. Some technical issues have been blamed for sluggish sales during the fourth quarter from the action camera maker’s behalf. But the company axes over the employees to restructure expenses. However, analysts presume, the fall in sales revenue may not be up to that magnitude.
