Hyundai Corp is expected to recall Elantra model vehicles from February 2016 onwards. It's noticed that the malfunctioning of electronic stability control system will suddenly result in reduction of engine power. The South Korean automobile major may recall over 150,000 Elantra vehicles to fix the stability control system in the vehicles.
North America
Fed May Hold Rate Hike to Ease the Market
The Fed may hold its next interest rate hike, following a current plunge in oil market that affectsthe stock market. This will give market a breather.
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.
Latest News
Unlike six other times, Barack Obama will face an interview for the last time as an incumbent President in YouTube on Friday. This time he will answer the selected questions of a trio, who combined remains ahead of the President himself by a huge margin in terms of subscriptions. During his entire 10 years in the office, he has used technology to publicize behind- the- scene photographs as token of his goodwill gesture.
The Department of Transportation has come out with a latest report on the US aviation sector. The department expressed its concerns that pilots don't have much expertise in handling aircraft manually. US pilots fly aircraft on automated system for over 90 percent flying. This makes pilots unable to control the aircraft in unforeseen situations.
A group of technology executives in Canada and U.S. launched a Toronto-based $100 million venture fund. The group is focusing to fund enterprise software to establish its investment portfolio.
Venture capital firms raise less capital and face a slowdown in tech funding for 2015. However, the number is still above annual average since 2006.
Venture capital fund in the U.S. dropped by 9% in 2015, but a strong fundraising pace from 2014 continued. Investor become more selective to put the capital in startup companies.
Google wants to involve many automobile manufacturers and suppliers in developing its ambitious self-driving cars. Contrary to market rumors, Google didn't announce its plans for partnership with Ford. Google believes that its self-driving project would be beneficial to senior citizens. Google involved Roush Enterprises to assemble self-driving cars, which are being road tested.
Ford Motor Inc. declare supplemental cash dividend of $1 billion. In 2016, the company expect to earn as much as last year.
Lithium-ion battery has a problem when it overheats. Researcher in Stanford University have invented a lithium-ion battery that shuts down when it starts to overheat.
Amazon.com expand its business to delivery service. The company will fully acquire French delivery company, Colis Privé. This acquisition will put Amazon head-to-head with FedEx, DHL and UPS.
