Deutsche Bank expressed its skepticism on the hype created around Apple’s shift to Google’s Cloud Platform from Amazon’s AWS. The bank believes that the move will not have a significant impact and that Apple is just trying to reduce its reliance on just one service.
Sectors
Nissan Expands Recall on Rogue SUV and Introducing New Concept Car
The company recalled another 47,000 defective SUV due to problem in its fuel pump. Nissan also introduces its new mobility concept car this week.
Talbot expands Australian presence, strengthens financial team
Talbot Underwriting Ltd is spreading its footprint of financial lines business in Australia. Talbot Underwriting, a wholly-owned subsidiary of Validus Holdings Ltd, has appointed David McKenzie and David Jones as class underwriters at its financial lines team.
Iron Ore Climbs as China Property Market Recover
Price of iron ore rallies as China's property market showed further sign of recovery. Surge in the price of iron ore also correlated with increase in steel futures.
India's NCDEX imposes spl margins on Kapas
India's National Commodities and Derivatives Exchange (NCDEX) has imposed special margins in Kapas contracts. Kapas prices fell over seven percent during the past fortnight. NCDEX has taken the decision to check further fall in Kapas contracts.
Latest News
Turnbull is switching to a greener Australia avdocating the use of clean energy. The government will support Clean Energy Finance Corp. and the Australian Renewable Energy Agency and develops Clean Energy Innovation Fund worth A$1 billion.
Puerto Rico is struggling with a $72 billion debt and is seeking for a Chapter 9 bankruptcy. It is unclear why the said country is excluded and will not be able to take advantage of it to protect it from creditors and restructure its debts. Only Congress can make a bankruptcy law.
Shares of the German pharmaceutical and chemical giant increased by 5% in Monday trading. Monsanto's interest to acquire its crop science business triggered the surge.
The analyst at Keefe, Bruyette & Woods believed the breakup would increase shareholders value by 57%. However, Citigroup has asked its shareholders to vote against the too-big-to-fail proposal.
Sales of existing homes declined in February, reflecting poor demand in housing sector amid higher prices and weak inventory.
In the continuing saga on Valeant, CFO Howard Schiller has been asked to resign. The company will also find the replacement of CEO Michael Pearson, and putting Bill Ackman in its board.
As sales in PC industry weakening, chipmaker were traded low on Monday. Intel and AMD were hurt by the low sales.
Marriott and Starwood are agreeing on a new deal that would total in $13.6 billion for a merger of the two groups. The merger would form the world’s largest hotel operator with 30 brands and more than 5,500 hotels worldwide.
CarDekho.com and CarBay.com's parent company Girnar Software has received a late-stage funding round led by Google Capital. The new fund will be allocated to further improve the company's car portals' technology as well as expanding services.
