B.C. clean-tech companies have requested Prime Minister Justin Trudeau to allocate a $500 million venture capital (VC) fund. An alliance comprising 51 clean-tech and investment firms from B.C. province has written a letter to the Prime Minister Trudeau to extend support to clean-tech industry.
North America
Morgan Stanley Focuses on Asset Management, To Recruit 75 Advisers For Latin American Investors
Eroding revenue from bond trading and other core services, Morgan Stanley has changed its business focus towards asset management business. It has also focused on Latin America to procure investment in US businesses. To ensure the business hunting, the banking giant has planned for appointing 75 advisers for this region during this year.
Chase To Replace Amex as Credit Card Leader in America
As Costco will replace its credit card from Amex to Citigroup, a new leader credit card will emerge. Chase will take over the throne of sales volume from Amex.
CaixaBank may acquire Isabel Dos Santos' stake in BPI
Spain-based Caixabank is planning to buy the stake of Isabel Dos Santos in Portugal's Banco BPI SA. The negotiations over the acquisition are still going on and may be completed soon.
Scotiabank's profit soars on global banking
Canada-based Bank of Nova Scotia witnessed a strong profit surge as banking activity in domestic and international operations rose. Scotiabank has increased provision for bad loans in the oil and gas sector. The bank is expanding in Mexico, Chile, Columbia and Peru.
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The bigger companies are getting global through acquiring operations in the regional markets, which has become a trend in the multi-billion dollar market. Following the trend, Hong Kong based firm Mobvista has announced on Monday acquiring NativeX for $24.5 million. Through the deal, NativeX has been expected to contribute for achieving Mobvista’s international goals and successes.
Following slow start of the year, tech companies began to come to life. As Palo Alto Networks, Splunk and Salesforce.com brought Nasdaq to soar 2% in the last five trading days.
Puerto Rico, the island territory of U.S. is in the crisis due to its surmounting debt. Governor Alejandro Garcia Padilla repeated the island's debt will lead to moratorium.
Cities like Austin, Texas, and Seattle, and Seattle have become a new target for tech workers. They are areas in which the tech startups are increasing in large number.
Recently, Google has released video demonstrating operations of its Chromecast Audio featured by popular actors. On Monday, Google has announced another feature, 'Chrome for Work Assist', which offers 24/7 phone and email based customer support for businesses. Through these efforts, Google is probably trying to glorify its image as a consumer friendly entity.
Canadian pharmaceutical company shares dropped 18% on Monday, as the company admitted being under investigation by U.S. Securities and Exchange Commission.
NASA is to built quieter supersonic jet planes that will one day replace passenger jet planes. The $20 million contract was given to Lockheed Martin which will collaborate with NASA for reviving supersonic aviation feasibility studies.
FBI chief, James B. Comey, has been reported to personally challenge Tim Cook stance. Tim Cook has been considering the battle as fight to secure privacy. Americans are historically sensitive towards government’s intervention over individual privacy. But the cause cherished by the common Americans is believed to prevail in the long run.
GE have been trying attract tech workers since last year. In its new Oscars ad, GE mock the startups and proclaim itself as a tech company and an industrial company.
