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.
Regions
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.
Indonesia Slashes Benchmark Rate, First In 11 Months, to 7.25%, Rupiah Appreciates
Rupiah has been reported as the second worst performing countries during the first three quarters of 2015. But during the fourth quarter, the currency has around apparently due to the country’s cautious monetary policy. Bank Indonesia has announced cutting benchmark interest rate to 7.25% on Thursday and consequently Rupiah has appreciated some more value.
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
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.
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.
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.
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.
Like other tech giants, Shape Security Inc., ‘Botnets’ security service provider has been eyeing to enter into Chinese ecommerce market since long. Inclusion of Beijing based investor, Northern Light and raising sufficient funds for spreading elsewhere- appear as two contributing factors. These factors have led Shape to penetrate the world’s largest ecommerce zone.
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.
UK's second largest retailer J Sainsbury Plc registered revenues for the third quarter as per the forecasts. The total retail sales of Sainsbury were up 0.8 percent excluding fuel and were down 0.7 percent including fuel as against the analysts' average forecast of 0.6 percent decline for the quarter. However, Sainsbury has surpassed the forests for Christmas sales.
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.
