Online video production startup 90 Seconds will pursue its global expansion after securing $8 million in Series A led by Sequoia India. The startup will also broaden its network of creative freelancers in India as well as in other countries.
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IMF Warns of New Financial Crisis and Economic Instability, Calling Immediate Action
The IMF calls banks, policy makers, and other key players in both advanced and emerging markets to address economic problems immediately. IMF warned that current issues and uncertainty could lead to a new financial crisis or economic stagnancy in a global sense.
Alibaba and Ant Financial Invests $1.25 Billion in Chinese Food Delivery Service Ele.me
Ele.me secured a $1.25 billion investment from Alibaba and its finance business unit Ant Financial. China’s O2O business market are now booming as most Chinese consumers are using smartphones to do their daily activities.
The NY Fed Unveils Its Own Economy Forecasting Tool Using Near Real-Time Data
The New York Fed announced its new GDP tracking and forecasting tool, the FRBNY Nowcast. The tool will use near real-time data to update U.S. economic growth daily, as the Fed will release a report weekly using the tool and data.
McCormick Withdrew From Premier Foods Acquisition, Bid Too Pricey
McCormick will no longer acquire Premier Foods as it cannot provide the offer acceptable to the latter. Due to failure of the said talks, Premier was left to "fend for itself" for the company's success while seeking alliance with Japan's Nissin Food Corporation.
Latest News
DocSend received a new investment round totaling in $8 million to enhance its service on documents sharing and documents analytics. The startup has been focusing in documents as the core of most business deals.
The US government faced a steady increase in March budget scarcity, leading to a higher deficit in the first half year period compared to the previous year period.
Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.
European privacy watchdogs is now assessing the Privacy Shield framework that would regulate the EU-U.S. relations in privacy protection. It’s likely that the EU watchdogs will ask for another review to be conducted in 2018, when a new a new EU data protection law comes into force.
Two other Fed presidents suggested the US central bank to raise interest rate. San Fransisco's John Williams said two or three rate hike in 2016 is reasonable. While Dallas' Rob Kaplan reminded to be patient.
Crude oil prices have been witnessed to drop a little after hitting the four-month high, but still manage a few profits for the Asian oil producers. Amid such market situations, oil producers including Russia and Saudi Arabia have reached a consensus for putting cap on oil production. The output cut decision has surprised the analysts since increased market price naturally boosts up production.
Richmond and Kansas City Fed President supported to raise the interest rate during the meeting last March. While Philadelphia Fed President on Tuesday reitereated the hike delay is a prudent decision.
European Union antitrust regulator resumed its review on the takeover of Baker Hughes by Halliburton. European Commission plan to reach decision in August whether to approve or veto the deal.
Ken Paxton, the Texan attorney general has been sued on Monday by the US regulators on accusation of playing role in a stock scam. In addition to the civil lawsuit, Paxton has also been sued with criminal charges for defrauding investors. The Texan Democrats as well as Republicans have called for his resignation.
