Advanced Research Projects Agency-Energy (ARPA-E) plan to outperformTesla. The agency under Department of Energy has been on research for years.
United States
Citigroup in negotiation to appoint Armando Diaz as leader of global capital equities trading business
Citigroup is reportedly in negotiation to appoint Armando Diaz as the global leader of capital equities trading. These appointments signify the bank's effort to construct a robust stock offering business.
Audi posts 3% fall in 2015 profit owing to emission scandal
Audi AG reported a drop of 6.1% in its operating profit for 2015. The carmaker's profit after tax declined 3% owing to costs of repairing diesel engines related to emission scandal.
Hewlett-Packard Enterprise Profit Beat Estimates, But Hurt By Negative Currency
Hewlett-Packard Enterprise reported its quarterly result on Thursday. The company booked a better than expected revenue and profit, but its earning fell by negative currency impacts.
Wall Street gains prop up stocks in Asia, Australia
Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose.
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S&P 500 index began this week by slide below closely watched threshold. However, on Wednesday as Asian stock continued raising for third consecutive day, indexes began to recover.
SunEdison has announced on Wednesday suspending quarterly dividend followed by earlier decision for making delay in disclosing quarterly earnings report. Following these revelations, the banks deciding earlier to extend loan facility, have pulled out from the loan commitments. Delay in disclosing earnings violate prior loan agreement which has been cited as the reason for pulling back.
Honda has invested an extra cash of GBP 200 million in the Swindon facility. This move highlights the company's long-term desire to commence a manufacturing plant in the UK.
Tech salaries are soaring higher, as last year it more than doubles the average pay in other sectors. It proves that the tech industry remains a major driving force in the U.S. economy with high income and massive job gains across the country.
Alphabet Executive Chairman Eric Schmidt has been appointed by the Pentagon to lead a special defense board. He will personally advise the agency on emerging tech brought familiar to him in Silicon Valley. Pentagon is reaching out to Silicon Valley as well as hackers to help improve the bureaucracy’s digital security.
During five years, the Department of Energy’s ARPA-E program has invested in hundreds of projects for a total of $1.3 billion. The agency is still pushing forward to improve its funding system to help more projects commercialize its technologies.
Public worker unions are raising voice against huge fees and bonuses being paid to private fund managers. New Jersey's (N.J.) government worker pension fund paid $728 million in fees to private fund managers for 2015 year.
Led by energy and banking stocks, equities on Wall Street surged after the latest data buoyed investor confidence. Crude oil price was nearing $35 per barrel. Wall Street is waiting for jobs data to be released on Friday.
According to a latest 'Beige Book' from US Federal Reserve, economic activity in some districts has been slowing down, while some recorded modest growth in labor market. The latest financial market crash also hit consumer spending severely in some areas.
