The Koch Brothers' super-PAC reached $14.8 million, with $11 million being added in the second half of 2015. The latter amount was raised by only 20 contributors, comprising founder Charles Koch himself and some billionaire stalwarts. The PAC is incurring minimum expenses and hoarding most of the fund to support the Republicans in 2016 elections.
United States
Xerox splits into two; Carl Icahn to get 3 berths on board
Xerox Corporation will be split into two separate business entities for hardware and services businesses. It's learnt that activist investor Carl Icahn will get multiple positions on the boards of the two companies including three on the board of services company. Xerox's fourth quarter numbers are expected to be released on Friday and an official statement about division may also be announced simultaneously.
Yahoo to Cut 15% Employment, Laying-Off 17,000 Workforce
After a massive loss of $4.3 billion in Q4, Yahoo will struggle much more to return to profitability. The Internet company decided to cut its employment by 15%, close some offices and explore strategic alternatives.
Chipotle beat Q4 earnings estimate
Chipotle said that its quarterly net income plunged 44%, marking it the worst period after the outbreak of an E.Coli. However, the profit was higher than the prior outlook.
Alphabet beats Apple as the most valuable company
Google's parent company, Alphabet, is now the most valuable company in the world beating Apple. The $568 billion in valuation company recorded a total profit of $4.9 billion for its fourth-quarter earning.
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Hershey, the leading chocolate maker, has shifted gear in 2016 and plans to focus more on its newly acquired meat brand, Krave Pure Foods Inc. With changing food habits, the market is now ready to accept snacks that are more rich in protein and less in sugars, and with this move, the sweet maker is all set to tap this niche market.
Kraken bitcoin exchange received a multi-million dollar Series B funding led by SBI Investment. As the funding was announced yesterday, the exact amount is still undisclosed.
Provider of drivers' digital media, CarGlass Inc received a $3 million seed funding from two investors. The company focuses on providing digital media content to drivers safely and intelligently.
Abbott said that it has signed a definitive deal to acquire Alere for a net value of $5.8 billion in cash. Abbott expects the acquisition to be immediately accretive to its earnings per share upon completion.
Accomplice and two other investors provide seed funding to Lexumo. The company provides a unique platform to continuously check the security of every open source code available in the world.
Yes, that is true. Sesame Street is now working with Collaborative Fund and investing $10 million in the new venture fund. The fund will focus on companies working on childhood development.
E.coli outbreak which contaminated nationwide Chipotle restaurants last year will be declared over. However, CDC has not been able to find the source of the outbreak.
Huge hedge funder Paul Singer donated 2.5 million US dollar, while his friend Cliff Asness, an investment magnate, sponsored 1 million US dollar to super PAC.
Michigan's legislature approved to give $28 million on Thursday in funding to aid the residents of Flint with recovery efforts. This approval came just over a week after the funding proposed by Michigan governor.
