Pandora Media Inc has engaged Morgan Stanley to facilitate the selling itself including identifying potential buyers. Pandora has been spending heavily to attract more number of users amid increasing competition in internet radio space.
Messaging app Wiper has raised a total of $4.5 million seed funding from its investor Michael Choupak adding $2 million dollars. The service launced $4.99 monthly subscription fee to preview and watch thousands of original short and long, inexpensive indie films that can be compared to expensive Hollywood movies.
The increasing output in Brazil and falling prices are posing a major challenge to African coffee producers. Coffee exports revenues are a major source of income for several African nations. The coffee production in Brazil is forecast to reach 52 million of bags in 2016 from 43.2 million bags in 2015.
Vivo, the trade name of Telefonica Brasil prepared a strategy in the worsening economy. The strategy is expected to increase sales and efficiency.
Mexico is receiving $400-loan from World Bank for rural development and will formally sign an agreement. Mexican government will utilize the funds for extending financial lending to farmers and fishermen in rural areas. The small and medium enterprises (SMEs) will also get financial support from the Mexico's national agricultural financing agency FND.
President Barack Obama said he would ask Congress for about $450 million in funding to help Colombia to reach an economic stability and peace in the country. Besides that the 'Plan Colombia' policy will also be changed to 'Peace Colombia' policy from now on.
The US Dollar plunged to its worst single day drop outside of the 1998 and 2008 crisis today due to speculation regarding 'no rate hike' policy that the Federal Reserve might be implementing for this year. The plunged however, cause a reversal effect helping oil price to increase and help boosting Asian stocks.
Zika has appeared as a nightmare to many Latin American countries. The number of Zika infected has reached 4 million landmarks since reporting of the first case just eight months earlier. Absence of proper vaccine has made the situation much more terrible. Recently, scientists have escalated the fears revealing climate change may also contribute to the spread of Zika and other mosquito borne diseases.
WHO on Thursday has warned for probable spread of Zika virus across the North and Central American countries. Ahead of rising concerns for Zika spreading, drug makers and scientists have commented that manufacturing of an appropriate vaccine may even require a decade. These warnings has opened a huge business potential for Oxitec, an Intrexon subsidiary. Oxitec’s gene modified mosquitoes are capable of ensuring security against Zika for large populations.
South American nation Venezuela is suffering from gasoline smuggling to neighboring nations. Gasoline is heavily subsidized in Venezuela. The cheaper gasoline smuggling has become a major revenue source in the crisis-hit Venezuelan economy. Venezuela's President has deployed soldiers in large number to keep constant vigil on its borders. Venezuela is losing foreign exchange revenue in US dollars because of smuggling of gasoline.
Aedes mosquitoes are the bearer of Zika virus which is available across the US. WHO warns the US for a probable Zika virus induced epidemic. Brazil has appeared as the most Zika affected country. The US and other governments have issued a travel alert for the pregnant women forbidding to visit the Zika prone region. The travel alert has offbeat the organizers of the Rio de Janeiro olympic scheduled to be held in August.
Argentinean farmers are reportedly facing the worst kind of locust plague ever in the last 60 years. The plague if not contained could lead to severe crop infestation, resulting in starvation and famine.
Zika virus outbreak is taking a toll on many countries around the world including Brazil which has raised concerns on the spread of infection among US population as well. Oxitec, a british company is set to release GM mosquitoes to contain the insect population in Brazil.
The Federal Reserve Bank have found a new partner in its struggle to confirm interest rate increase screens through the US economy. The trend of Fed borrowing billions daily to set a base under its standard policy rate has been conquered by foreign monetary authorities, Bloomberg said.