The U.S. Air Force said Boeing would build the planes to replace the two outdated model of Boeing VC-25 airplanes used by the U.S President.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.
North America
Charlottesville Is The Fastest Growing Venture Capital City in the U.S.
According to PwC and NVCA report, Charlottesville has been the fastest growing startup since 2010. Between 2010-2015, venture-backed startups increased 55% annually in the place where Thomas Jefferson's house is located.
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.
Cheap oil benefits consumers, hits governments
The lower oil price for about 19 months is benefiting the consumers, but creating a lot of problems for the global governments and business firms. Many banks and the US government forecast oil price above $40 a barrel this year. The oil price fell to below $30 during the past 19 months from $107 a barrel.
Standard & Poor's Demoted Sprint's Credit Rating on Tuesday
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.
Latest News
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.
Stocks dipped to session lows on Tuesday. Shares of oil companies plunged as crude oil continued to slide. Three of major indexes also fell.
Venture capital and private equity that sprung from California Bay Area in 1960's has been a global phenomenon. A Canadian reseach institute publish a report about venture capital investment in tech startups around the world.
With a growing number of venture capital firms providing fund and startup companies looking for funding, there are many opportunities for each other to matchup. Here are some tips for venture capitalism from the experts.
Kraken bitcoin exchange received a multi-million dollar Series B funding led by SBI Investment. As the funding was announced yesterday, the exact amount is still undisclosed.
Provider of drivers' digital media, CarGlass Inc received a $3 million seed funding from two investors. The company focuses on providing digital media content to drivers safely and intelligently.
Accomplice and two other investors provide seed funding to Lexumo. The company provides a unique platform to continuously check the security of every open source code available in the world.
