Some $46.5 billion treasuries have been reported to liquidate during the first two weeks of the New Year. The present reserve for $2.962 trillion appears to be the lowest since November. China has been reportedly withdrawing funds and injecting to the market to keep hold its currency in place. Considering its financial reserve, it is widely believed that further outflow of US treasuries, possibly with greater vicinity will take place in the coming months.
Regions
Stagecoach Beats Umbrella, Overrides Power Sector Debacle Through Contribution From Real Estate
Both Wells Fargo and Citigroup have been badly hit with the historic low oil price. The Walls Street banks have heavy investment in energy portfolio and the industry is passing through a nightmare since 2008. Both the banks have been forced to keep provision against the default power investments. But real estate portfolio has helped Stagecoach to leave behind the umbrella with its greater contributions predicted earlier.
South African House Prices to Decline in 2016, According to Retail Bank
South African retail bank said the country's house price will decline in this year. Fitch Ratings also remarked South African residential property and mortgage markets outlook to weaken further facing microeconomic challenge.
Microsoft Works To Improve Poor Battery Life of HoloLens, Its First Augmented Reality (AR) Product
Microsoft has started to display HoloLens, its first AR product at its flagship stores in New York. Unlike similar products developed by other competitors, the WiFi device has a very poor battery life. The tech giant is working to transform the device devoid of such shortcomings and expects to make it available in the first quarter of the current year.
ANA and Japan Airline Eliminate Fuel Surcharge and Search for Alternative Fuel
As oil price continues to plunge, two Japan airlines:Air Nippon Airways (ANA) and Japan Airlines (JAL) decided to eliminate fuel surcharge. This will trim the airline tickets price substantially. Both airlines are also actively searching for alternative fuel.
Latest News
A slate group, upholds ‘Free Harvard, Fair Harvard’ slogan to get elected for the Board of Overseers. Harvard’s total assets have reached to $37.6 billion and the group proposes to maintain the tuition fees from the income generated from its own assets. Ahead of soaring tuition costs, the slate group’s campaign has been analyzed as an electoral propaganda.
TrueBridge Capital Partners announced the closing of its fourth venture capital fund-of-funds on January 13. The fourth fund-of-funds is secured at its $400 million hard cap.
The video streaming company, Netflix prepares a huge amount of dollar for its content: $6 billion. The amount will be spent on 600 hours of original program. Netflix currently launches an aggressive global expansion which bothers many local content providers.
Brent oil prices fell on Wednesday, dropping below $30 a barrel to touch $29.96 for the first time since April 2, 2004.
The lower oil prices are forcing rig operators to reduce their activity in North Dakota. The number oil rigs operational fell to 49 indicating the lowest since August 2009. The number of oil rigs is expected to further drop to 30 this year. There're concerns over possible bankruptcies following the decline in oil drilling North Dakota.
Airbus Group's corporate venture capital fund Airbus Ventures has announced its first investment that was extended to a Phoenix-based Local Motors Inc. Airbus Ventures is keen on startups in the aviation industry that support Airbus business strategy. Local Motors Inc develops open source designs for building cars, helicopters and airplanes.
Majority of e-Commerce startups are running below expectations. Some of them sold for a fraction of their previous valuations. Groupon, One Kings Line and Wish.com were few examples that give insight of what's happening.
General Electric Co. has been intending to sell its electrical appliance chapter prior to initiation of global economic debacle. The Federal Justice Department has foiled its earlier bid to sell its century old electrical appliance portfolio. Finally, it has reached a consensus to sale the business unit to Chinese electrical equipments maker Haier for more than $4 billion.
Biotrial Private Facility has been conducting trial of a pain killer over 90 volunteers. Six of them have fall sick and one of them has got severe brain injury. Volunteers rarely fall sick while undergoing through such trials, since the drug must go through several tests over animals with wide range of dosage. Paris prosecutors have initiated investigations to unearth the cause behind the regulator approved trial.
