Four years of drought in California is recorded as one of the most severe. The drought has taken effect on U.S. wine industry, as the amount of grape harvested is reduced significantly.
Regions
European Venture Capitals Closed €3.3 Billion in Fourth Quarter 2015
European venture capital closed € 3.3 billion ($3.59 billion) funding in the Q4 of 2015, a huge raise from the previous quarter. United Kingdom is still the top spot for venture capital funding and information technology companies are still the favorite sector.
Wynn Macau Cautions Casino Contractor For Compensation Up to $200 Million Over Construction Delay
Wynn Palace, an under construction casino, is widely expected to attract Chinese consumers and thus transform Macau to a popular tourist region. The casino project has been expected to be completed by June 25 followed by a revision on deadline. But work progress seems to be slow and the contractor for the $4.1 billion project is probably going the miss the extended time frame further. Steve Wynn, founder of Wynn Macau Ltd. has sent a letter to the construction company cautioning to count compensation up to $200 million if it fails to meet the revised deadline.
Google To Discount $50 on Nexus Line Smart Phones As Valentine Day Promo Offer
Google is always pioneer in offering innovative promotional measures. In a similar, it has reduced Nexus 5X and certain color containing 6P model prices by $50 dollar. Combining this discount offer with previously declared $30 price cut has made the devices cheaper and within the capability of mid income group. However, buyers from Europe seem to be more beneficial since the discount amount remains higher there.
UK Insurance Industry Discuss the Issue of Autonomous Car on Public Road
Association of British Insurance (ABI) will lead the newly created Automated Driving Insurance Group. The group is established to discuss issues regarding driverless car.
Latest News
Unicorn is a term defining a startup company with over $1 billion valuation. Now, there will be other group of tech startups defined as "rabbit" to differentiate them from unicorns-overhype that become unicorpse.
Zika virus outbreak is taking a toll on many countries around the world including Brazil which has raised concerns on the spread of infection among US population as well. Oxitec, a british company is set to release GM mosquitoes to contain the insect population in Brazil.
Oculus Studio, animation studio established by Oculus VR Inc introduced Quill. The animation tool enable illustrator to draw and make animation inside a VR to enhance the film making process in 3D environment.
Oracle has disclosed its expansion program in the Middle East for 2016 which involves setting up a data center and new offices in Abu Dhabi and internet cities in Amman and Riyadh. It also plans to increase its workforce to offer better service for the customers across the Middle East and Africa. The vibrant nature of the cloud market in the Middle East region and the ever growing cloud business therein has led the Californian tech giant to approach with larger investments.
Tech startup Slack Technologies hires Noah Weiss to lead the company's Search, Learning and Intelligence group. This indicates Sack Technologies interest to invest more on artificial intelligence.
Amazon will spend more than $3 billion for Amazon Prime music and video content. With a 54 million members in the U.S., Amazon Prime wants to increase customers spending to boost its revenue following a downtrend.
Russian ruble is decreasing and hits all-time record low against dollar last week. Starting this week, the currency started its way to recover and reach 10- day high.
Virtual Reality has started to attract more developers. Game Developers Conference revealed a survey showing that more game developers are working on VR prior to the event next March.
Many venture capitalists like Chamath Palihapitiya prefer to park their funds in Amazon as the online retailer is forecast to grow over a decade. The reason is that it's not because of e-Commerce operations, but its cloud computing unit Amazon Web Services (AWS). Many companies will eventually pay a fixed fee to Amazon as they increasingly rely on cloud computing services to run their services.
