In a major setback, Silicon Valley’s largest startup accelerator reshuffles assignments for top executives. After five years of joining, Gmail and FriendFeed dreamer Paul Buchheit replaces Sam Altman as managing partner of startup accelerator’s core program. Sam Altman is reportedly assigned to advise his successor managing partners while overseeing the entire program.
Investors
Millennials prefer rented accommodation in London
Rents in London were up over eight percent, while overall national average was 4.8 percent in 2015. Majority of millennials prefer rented accommodation rather than buying a house or flat. Millennials are not bothered about maintenance works and other mortgage tension these days. The Generation Rent also considers buying a property is very expensive.
2016 may be tough for UK manufacturers as confidence eases
The weakening business confidence coupled with global economic challenges is impacting the UK manufacturing sector in more negative way. Despite odds forecast for 2016, majority of manufacturing firms in the UK are going ahead with their investment plan for technology and innovation. About 44 percent of UK companies participated in a survey expressed their concerns about challenging 2016 year.
Will Overvalued US Real Estate Burst Anytime?
Economists express concerns over the repetition of property bubble in the US market as it's overvalued. Analysts estimate that the real estate is overvalued in the range of 25 percent to 60 percent considering the average price and average income in a particular area. However, the US property market is attracting more foreign investment and it's forecast to be higher than in 2015.
Treasuries fell as markets discount China concerns
US Treasuries dropped for the first time in seven days as China concerns eased. The unexpected depreciation of Yuan by China's central bank sent shock waves across the global markets. This triggered selloff in equities and forced investors towards safe havens such as treasuries and gold.
Latest News
Oracle billionaire Larry Ellison's Ohana Airline Holdings LLC will sell a controlling interest of Island Air to venture capital investment company PacifiCap.
Saudi Aramco may tap capital market very shortly. The Kingdom of Saudi Arabia (KSA) is considering a major restructuring plan for the world's biggest oil producing company in the wake of lower oil prices. The Saudi government may also sell some of the stake in Aramco.
SpringOwl Asset Management managing director Eric Jackson recommends Yahoo to replace CEO Marissa Mayer and cut 9,000 of its workforce.
Amazon has reportedly reiterates its presence in the microchip arena through unveiling acquired concern, Annapurna Lab’s Alpine. Through currently retailing a very meager market share compared to Intel’s strong dominance over chip arena, Alpine appears as a potential threat to the latter. But the unveiling event has been dominated by reduced rating points over in price index.
The overnight gains on the Wall Street have boosted the market sentiment on Asian bourses ahead of the US Federal Reserve's meeting. The trading on Wednesday registered positive momentum in equities across the Asian markets.
Despite the International Monetary Fund recent inclusion of the yuan or Renminbi in their basket, rich Chinese men are selling their money for other currencies, because they know that China's economy continues to slow down.
Adventure brand and Esprit owner and co-founder of the North Face outdoor company, Douglas Tompkins, died in a kayaking accident in Chile. He spent a large percentage of his wealth on environmental conservation.
Being President of the United States is the large role to fill as the most powerful man in the world. With that power and title, of course comes, great wealth and fame, whether from a widely well-received tenure or one of great criticism.
Alibaba founder Jack Ma is planning to venture into the publishing sector as news circulated that the e-commerce tycoon will be buying some stake in Hong Kong's South China Morning Post.
