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.
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Snapchat Raised a New Funding Round, But Valuation Remain Unchanged
Fidelity Investments lead a $175 million investment in Series F funding for Snapchat. However, it does not change Snapchat valuation at $16 billion.
AMC's $1.1-bln buyout deal widens Chinese control of US theaters
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.
$80 Million ‘Golden Parachute’ Package For Dow And DuPont CEOs
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 beats forecast in Q1 earnings
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.
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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.
Indian stock markets recorded gains from continuous buying support from foreign institutional investors (FIIs). Encouraging global cues also led the stocks gain on Indian bourses. The latest institutional support made the best three-session rally since September 2013.
Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose.
Google grants UNICEF a total of $1.5 million in its battle with Zika virus which has been declared an epidemic by WHO last month. The virus has been linked with microcephaly and neurological illness called Guillain-Barre syndrome. UNICEF and the tech giant will collaborate to map and anticipate the spread of the virus.
The UK Home Secretary has placed a draft bill allowing the law enforcers to bulk collection of internet traffic. The civil rights bodies have protested the bill accusing it to stand against individual privacy. However, the home secretary expects, through passing the bill, UK will be the first country enacting the most draconian surveillance laws.
Northern Trust subsidiary 50 South Capital Advisors is going to acquire Aurora Investment Management, a Natixis Global Asset Management subsidiary. Both the parties are maintaining silence on terms of the deals which is expected to close by the end of September. Most of the Aurora Investment professionals will continue their service.
Advanced Research Projects Agency-Energy (ARPA-E) plan to outperformTesla. The agency under Department of Energy has been on research for years.
GIB has intended to borrow money instead of using public funds aiming to expand overseas. However, Environmental Audit Committee has recommended the government keeping a minority stake in GIB to ensure the bank’s objectives as well as its long-term strength. Following the recommendation, the government has started bidding for selling at least majority of the stake in GIB.
China will lower threshold for foreign investment and advance the revision on relevant regulation. China targets to attract more foreign investment in the country.
