Fidelity Investments lead a $175 million investment in Series F funding for Snapchat. However, it does not change Snapchat valuation at $16 billion.
Industry
Zimbabwe Government Robbed of Wealth, Takes Control of Diamond Mining Fields
The Zimbabwe government will now take control all of the mining fields in the country as the state is being robbed of its wealth. Billions of dollars have been stolen from the nation's treasure chest because of smuggling and swinding according to President Mugabe.
Defeating Boeing And Others, Aurora Bags $89.3 Million VTOL X-Plane Deal
Boeing, Aurora and others have been vying with their own prototype proposals for the $89.4 million deal for DARPA’s VTOL X-Plane project. Aurora proposed prototype, LightningStrike’s flight technology has been derived from its Centaur and Orion unmanned aircraft. Defeating all odds, AFS has finally bagged the deal making a breakthrough in aviation technology.
Dubai Parks & Resorts: $2.8 Billion Amusement Project, Where East Meets The West
A model of Dubai Parks & Resorts has been unveiled on Tuesday. The $2.8 billion project is expected to get inaugurated in October. Besides other amenities, 400 performers, who have been described as the bests of the bests, will offer amusement to the visitors.
Bank of Japan expected to slash interest rates further
The Bank of Japan is anticipated to reduce its interest rates into a negative territory further at or before the bank's meeting in July. The bank is anticipated to trim its interest rate to minus 0.2% due to low domestic spending and slump in the energy market.
Latest News
Chinese billionaire Wang Jianlin-controlled AMC Entertainment Holdings Inc has agreed to buy Carmike Cinemas Inc for $1.1 billion deal. After the acquisition, AMC Entertainment will become as the largest move-theater operator in the US.
An official filing revealed that Uber is facing huge loss in its international operation, as the company spent big on global expansion. The main factors of the loss are regulatory obstacles and local rivalry.
DuPont and Dow Chemical Co. have agreed for a $130 million merger reflecting ‘merger on equals’. Following the merger, Dow CEO, Andrew Liveris will enjoy the lion share of $52.8 million while Edward Breen, DuPont’s CEO, will get $27.2 million. However, this appears as a true “Golden Parachute’ only for Liveries since Breen has secured job in the proposed merged entity.
Hewlett Packard Enterprises (HPE) has beaten analysts' forecasts for the first quarter earnings. HPE has posted earnings per share (EPS) of 41 cents a share for first quarter as against the 40 cents per share of average forecast made by analysts. Hewlett Packard Enterprises is expected close Tsinghua deal by end of May as soon as it gets Chinese regulatory approval.
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.
Maserati has unveiled the first SUV, in its century-old history, in the Geneva Motor Show, 2016. The new SUV’s overall shape has more than a few Porsche Cayenne-like proportions while possessing trademark Italian flavor. Wester, the Maserati CEO, has also confirmed that despite having access to the wider Fiat-Chrysler group, the new Levante is a 100% Maserati.
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 reported its quarterly result on Thursday. The company booked a better than expected revenue and profit, but its earning fell by negative currency impacts.
India's securities market regulator Sebi is upgrading and strengthening its surveillance system on commodity exchanges (CommExes). Recently, Sebi has barred 16 commodity trading members from trading for manipulating castor seed futures. National Commodity & Derivatives Exchange (NCDEX) is also enhancing and strengthening surveillance system for commodity exchanges in the country.
