On Wednesday, the data storage specialist NetApp reported its revenue at a lower than expectation. The company suffered a low demand of its product and will cut 12% of its employees.
North America
Broadridge picks stake in AMA Partners
NYSE-listed Broadridge Financial Solutions has invested in AMA Partners, BV (AMA). By taking minority stake in AMA Partners, Broadridge will expand its corporate governance solution in Europe.
BDC Capital rolls out C$150-mln IT Venture Fund II
BDC Capital, a subsidiary of Business Development Bank of Canada, has launched IT Venture Fund II with corpus of C$150 million. With an objective of bridging gap in the mid-stage funding, the new fund will support new generation of IT entrepreneurs in Canada.
Peabody Energy Corp facing problem over $1.47 bln self-bonding
US-based coal mining company Peabody Energy Corp is facing a major problem over its $1.47-billion self-bonding practice. The coal miner has been negotiating with debtors for several months. Certain groups are criticizing the self-bonding practice, lodged complaints in courts against Peabody Energy Corp.
Meta AR Showed As a Serious Rival to HoloLens and Amazed Audience in TED 2016
On Wednesday, Meta demonstrated its new augmented reality headset at TED conference in Vancouver, Canada. The new Meta 2 headset mesmerized the audience and showed to be rival for Microsoft Holo Lens.
Latest News
Yahoo announced another round of layoff after early February cutoff. Around 300 employees in California office will lose their jobs.
The US-based Victory Brewery and Southern Tier Brewing companies are forming an alliance to increase sales volume. However, the two mid-sized breweries will work independently under the parent company Artisanal Brewing Ventures (ABV).
Honest Co was accused for a fraudulent labeling in its home and personal care products. The plaintiffs claim that more than 40 of its products contained chemical and toxic ingredients.
Oil and gas prices have continued to slashing down in 2016. Due to lower commodity prices, Oil and gas companies are adopting cost reductive measures including job cuts. After job cut spree in Sandridge Energy, Devon Energy has announced 1,000 job cuts on Tuesday. The company has forecast for another 600 job cuts ahead.
The volume of maturities of US investment-grade companies during 2016 and 2020 will be $864 billion. This is record high for the US investment-grade companies. However, they can easily access financial markets for refinancing their debt, observes global rating agency Moody's Investors Service.
Protenus has announced raising $4 million from a Series A fundraising round. The finance has been rendered from a group of investors led by Arthur Venture. The health data security service provider intends to expand its business all over the US through this fund.
Gogo Inc's stock fell 28 percent following the statement from its customer American Airlines stating that Wi-fi service is lacking. The US airline has filed a lawsuit against Gogo for failure of Wi-fi service. The Chicago-based technology company Gogo Inc offers in-flight Wi-Fi service to American Airlines and Delta Airlines.
Grand Rapids, Michigan mark the highest record in venture capital investment in 2015. A venture capital firm based in the largest city of West Michigan scored a 20% increase from previous year.
Carl Icahn reduced his shares in Apple by $7 million, along with other big hedge funds. Meanwhile, Tiger Global Management acquire more shares in the Cupertino-based company.
