Saudi Arabia just got a negative rating from Fitch, from AA to AA-. The downgrade is due to the oil-rich kingdom's decision to slash its average oil price assumptions from $35 to $45 a barrel for 2016 and 2017.
Sectors
Uber Received Hundreds of Data Request on Its Riders and Users From US Law Enforcements and Regulators
Uber revealed that it has received too much data request from US law enforcement agencies and regulators. The company has provided information on its riders and drivers for most requests after reviewing its legal framework.
Microsoft Became The First Major U.S. Tech Company to Endorse Privacy Protection Pact With the EU
Microsoft has became the first major U.S. tech company to endorse the Privacy Shield agreement between EU and the U.S. The company agreed to discuss the framework of data protection further with the EU officials soon.
Food Delivery Service Deliveroo Launches in Brisbane as Its Third Australian City After Success in Melbourne and Sydney
Global food delivery service Deliveroo is expanding further in Australia and will soon launch in Brisbane as its third city the country. The expansion came after experiencing a sustained growth in its first two cities since it launched in Australia on November last year.
Salesforce chief freezes pay following investors’ complaints
The 2016 base pay for Marc Benioff, chief executive officer of Salesforce, will be similar to that of 2015, following investors' complaints regarding his huge pay package in 2015.
Latest News
The acquisition of Greybull Capital of Tata Steel's UK long product business will save thousands of jobs and was accepted by the steelworkers after two years of uncertainty.
Dell is mulling over an initial public offer (IPO) for its recently acquired SecureWorks. Dell is also planning to spin off SecureWorks after the IPO which is expected to enhance the valuation of SecureWorks from $154.9 million $1.4 billion.
Sluggish sales and the new regulatory bill in India's real estate sector have turned to be favorable for Godrej Properties which is now making heavy investments to cash in on available opportunities in an otherwise sluggish real estate market.
Palo Alto-based venture firm Accel has raised a new fund. The fund is targeting the next generation of entrepreneurs in Europe and Israel.
Tom Rutledge has met FCC chairman Tom Wheeler last week to talk the acquisition. As the merger has already been past its late March informal deadline for approval.
Dartmouth College Professor Andrew Levin, former advisor to Janet Yellen made a proposal to reform the Fed. He also suggest the Fed to be reviewed by GAO annually.
Pivotal raised its objective price on Facebook's shares from $136 to $154 and restated a buy rating for the company, suggesting 51% upside to Tuesday's ending price.
The market share of Nippon Ceramic's 92 cents sensor increased amid the growing interest in the autonomous driving sector. Automakers like Ford Motor and Toyota Motor along with technology companies like Google, Alphabet, and Baidu intend to unveil robot cars within the next five years.
The Taiwanese company unveiled its new smartphone prior to launching. The smartphone is available in three colors.
