Regions

15% drop in Yahoo revenues predicted for 2016

Yahoo Inc’s revenues may drop by 15 percent for 2016 year, while earnings are also predicted to tumble 20 percent. The global internet company is expected to slash jobs by 1,500 to 9,000 in 2016.

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Flywheel Raises $4 Million Series A Fund From Investor Group Led By Five Elms Capital & Others

After started rolling in 2013, Flywheel, a blog management service providing startup has raised $1.2 million seed fund around one and half year ago. Now, the startup has raised another $4 million Series A fund for its expansion efforts from a round of investors led by Five Elms Capital. The Omaha startup now serves 40,000 clients and intends to grow further with the aid of newly raised fund.

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Carmichael Coal Mine's Proposed $21.7 Billion Project Could Bring Destruction to The Great Barrier Reef

The Carmichael coal mine run by the Indian company Adani, has been granted three licenses to mine in the heart of Queensland. Due to the devastation that it could bring to the Great Barrier Reef, many environmentalists criticized the government's approval to the coal mine project.

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Goldman Sachs-backed CompareAsiaGroup gets new CEO Sam Allen

Goldman Sachs-backed consumer finance startup CompareAsiaGroup got its new CEO Sam Allen. In 2015, CompareAsiaGroup closed a Series A round of funding led by Goldman Sachs and is planning to go for a Series B round funding soon.

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Free Access to Online and Mobile Edition of SCMP: Alibaba’s Signature Footstep of Acquisition

Alibaba Group has completed acquisition of South China Morning Post. To put a footstep with revealing the acquisition, readers have got free access to the once subscribed online newspaper. The move allows the 113-year-old newspaper to approach towards becoming a global leader in news arena.

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Canadian Pension Fund to Acquire 40% Stake in Agriculture Unit of Glencore For $2.5 Billion

Glencore is possibly nearer to a deal with Canda’s largest pension fund to sell 40% stake in its agriculture business. CPPIB has agreed to pay $2.5 billion against a total valuation of $6 billion. However, there is no guarantee that the deal will surely take place.

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Nvidia Unveils First Supercomputer DGX-1 Using A Mixed Blend of AI and Deep Learning Technology

Nvidia has unveiled its first supercomputer, DGX-1, which uses both alternative intelligence and deep learning technology. The supercomputer, costing around $129,000, by no mean suggests that newer technologies will become cheaper. However, the new GPU has been welcomed by the researchers and potential users considering its widespread prospect.

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Yen Hits 17-Months’ High Against US Dollar, Forecast For Further Appreciation

The Japanese yen has reached the top hitting a 17-month high on Tuesday. The appreciation takes place following advice from Japanese Prime Minister for cautious market intervention by authorities. Addition of value to yen cause downward trend in Nikkei average index on the same day leading towards a 18% drop during this year.

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Home loans turn cheaper as India's RBI cuts rate to 5-year low

The Reserve Bank of India (RBI), India's central bank, has reduced repo rate by 25 basis points to 6.50 percent, indicating an over five-year low. After the rate cut, home loans will be cheaper by half a percentage.

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Nestlé India's Maggi Noodles Exceed Monosodium Glutamate Level, Lab Test Shows

Nestlé India is again facing controversies with its all-time favorite Maggi noodles. Recent lab tests show that the lead content is within permissible limits unlike monosodium glutamate which exceeds the allowable level.

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Starbucks Biggest Coffee Shop Soon to Rise in Manhattan

Starbucks is about to open its biggest coffee restaurant in 2018 and will be known as Starbucks Reserve Roastery and Tasting Room which will be housed by the 170,000 square foot building developed by Aurora Capital Associates and Vornado Realty Trust. It would be the biggest Starbucks coffee shop in the world where customers also get educated about the process how coffees are roasted and brewed from all over the world.

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Ford’s Tricky Move For Another $1.6 Billion Production Plant in Mexico Irks Deceived UAW

Following a deal with UAW, the union members are enjoying jobs in Ford’s Wayne plant sacrificing small-car plant in Mexico. Applying the loophole in negotiation terms, Ford announces another $1.6 billion production plant in Mexico in addition to previously declared $2.5 billion plant. Ford’s tricky stance has irked the UAW and the union members have demonstrated protest against the automaker’s decision.

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US Treasury norms clamp merger plan of Pfizer for Allergan

The $160-billion merger plan of Pfizer Inc and Allergan Plc is heading towards termination owing to new measures announced by the US Treasury Department which has been taking measures to curb malpractices by US companies in tax evasion by merging with foreign firms.

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Dozens of Lawsuit Against SunEdison Indicates Creditors’ Tilting Confidence

SunEdison has been passing through acute cash crunch while embattling with lawsuits. Though the lawsuits have been filed recently and remain pending for adjudication, the variety of claimants has attracted analysts’ attention. However, the event has been analyzed as instance of tilting confidence among the creditors as well as investors.

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Scandinavian FSAs Summon Banks To Explain Their Accounts Against Panama Papers’ Allegations

Nordea Bank of Sweden and DNB ASA of Norway, largest lenders of the respective countries, have been accused of aiding in tax dodging by the leaked ‘Panama Papers’. DSAs of the respective countries have summoned them to explain their roles over the allegations. However, both the banks have denied any wrongdoing while reiterating commitments for upholding laws.

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