Fiat Chrysler is announcing a 1,300 job cuts as a result of the company’s decision to focus on producing light trucks and SUVs. American automakers are reportedly struggling to make money on other car models, such as sedan recently.
Sectors
Wall Street Fell on Thursday As Fear of Global Slowdown is Lurking
Plunge of indexes brings the market to negative territory. Financial sectors led the plunge over fear of global financial slowdown.
Samsung Estimated Strong Profit Growth in First Quarter
The Korean electronic giant predicted a high increase of profit in its earning guidance. Successful sales of Galaxy 7 flagship product is the main contributor for the profit growth.
BMW i Ventures Made Strategic Investment in RideCell Startup
The German carmaker's venture capital arm announced Wednesday to make strategic investment in RideCell. BMW established i Ventures in 2011 to target mobility service startups.
Android Marshmallow Market Share Grows Double In Just A Month
Data furnished in the Google dashboard as of April 4 suggest that market share of Android Marshmallow has grown double to 4.6% within a period of a month. However, analysts observe the market stake as very meager compared to that recorded by Android Lollipop during the same period of the previous year. Lollipop holds the market leader position in terms of retained stake.
Latest News
Tracking sell-off on Wall Street, Asian markets turned weaker. Renewed growth concerns and effectiveness of central bank policy have worsened the investor sentiment.
The second largest oil producer in Africa will start negotiate with IMF next week for a bailout program. Continuous drop of oil price hit Angola economy after years of prosperity from oil production.
Haptik has raised $11.2 million from Times Internet through a Series B funding round. Haptik will use the fund to develop its business portfolio, boost non-natural workforce abilities as well as improve business policies.
Competition Heats Up In China Between Uber And Didi Which Raised Funding Target to Over $1.5 Billion
Didi's target for funding has raised to $1.5 billion to compete with Uber in China. Didi operates in 400 cities and is expected to accelerate to about 10 million at the end of the year.
Bharat Forge's stock is likely to derate further in the wake of continuous fall in US truck orders. The US class 8 truck order inflows declined 36 percent in March 2016, putting more pressure on earnings.
International Monetary Fund (IMF) has warned that slower growth rates among emerging markets are causing cash outflows and could cause another bout of crisis. Narrowing differential in growth prospects between advanced and emerging economies may add to the crisis situation again.
Bill Ackman made nearly nearly $170 million in one day in a Valeant two-day rally. His comment on Valeant Pharmaceutical showed his capability as a remarkable hedge fund manager.
BioPen uses 3D bioprinting technology to enable surgeons draw viable human stem cells in order to reconstruct bones of damaged joints. The product is still at the R&D stage and is still being actively tested and improved.
Clothing and accessories sector is outpacing other sectors in e-commerce sales. Some factors, including better shipping and return policies and changes in mobile uses, are encouraging more people to make more small purchases online.
