Chinese leading fashion e-commerce startup, Mogujie is taking over control of its rival Meilishuo. Both companies is expected to merge in an agreement that will involve a stock swap between both companies.
Sectors
Snapchat could rival Facebook with 7 billion video views per day
Snapchat Inc. reported that its video views hit 7 billion per day on Monday. The mobile based social media company with just 100 million active users are expected to rival Facebook's daily video views anytime soon.
Oil Price Crash to $30, The Lowest in 12 Years
Oil price continue to crash the lowest level. The price was closed at the lowest in 12 years to nearly $30 and is expected to continue dropping.
2016 may be tough for UK manufacturers as confidence eases
The weakening business confidence coupled with global economic challenges is impacting the UK manufacturing sector in more negative way. Despite odds forecast for 2016, majority of manufacturing firms in the UK are going ahead with their investment plan for technology and innovation. About 44 percent of UK companies participated in a survey expressed their concerns about challenging 2016 year.
Stanford Develops Lithium-Ion Battery that Shutdown Automatically When Overheated
Lithium-ion battery has a problem when it overheats. Researcher in Stanford University have invented a lithium-ion battery that shuts down when it starts to overheat.
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Investors sue KaloBios Pharmaceuticals Inc. to return $5.4 million of their investment. The investors were brought in by Martin Shkreli. KaloBios Pharmaceuticals Inc. filed for bankruptcy in late December.
Economists express concerns over the repetition of property bubble in the US market as it's overvalued. Analysts estimate that the real estate is overvalued in the range of 25 percent to 60 percent considering the average price and average income in a particular area. However, the US property market is attracting more foreign investment and it's forecast to be higher than in 2015.
Apple has revealed a glitch in its News app causing the company with lesser number of visitors count compared to the reality. However, Apple is reportedly to be working on the problem and it will be solved soon.
After the cancellation of short-term credit facility from Citigroup, South African Airways is in the process of getting guarantee support from the government. South African Airways has had seven CEOs during the past three years. The National Treasury is exploring ways to restore financial support to the airline and will restructure the board as well.
South Africa plans to import 5 million tonnes of white corn from South America as the worst drought since 1992 continue to ravage the area, according to Grain SA, the biggest producers association in the country.
The shopping volume during the US holiday season registered an overall growth of 2.4 percent during 31 October 2015 to 4 January 2016. However, physical sales at malls were not equally rosy as online sales rose 4.6 percent. It's estimated that restaurants and travel segments recorded good business this holiday season as US consumers prefer to spend more.
Chinese phonemaker Xiaomi introduces its new Redmi 3 on Monday. With its full-metal body, the Redmi 3 is a beautiful phone with unexpectedly lower price.
US Treasuries dropped for the first time in seven days as China concerns eased. The unexpected depreciation of Yuan by China's central bank sent shock waves across the global markets. This triggered selloff in equities and forced investors towards safe havens such as treasuries and gold.
After rising over three percent recently, Japanese Yen eased after the strong guidance on Yuan by China's central bank. The Greenback against Japanese currency fell to its lowest level since August 2015. Several emerging economies' currencies were reeling under pressure.
