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.
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Citigroup CEO Michael Corbat Received 27% Increase of Salary in 2015
Citigroup raises salary of its CEO to $16.5 million in 2015. The bank has managed to be more efficient in operation under Corbat's leadership and passing mandatory stress test.
Rise of micro VC funding in India as investors focus on early-stage investment
The micro venture capital (VC) funding space in India is witnessing a robust activity. A rising new breed of venture capital investors is keen on early-stage investment in startups. About 12 micro venture capital funds are operational in India.
Deflation in steel, other commodities dent Japan's export basket
Japan's exports were badly hit by the steep drop in steel prices and other commodities. The world's third largest economy's exports fell 12.9 percent on the year in January to Yen 5.35 trillion ($47.12 billion), while the imports also fell 18 percent.
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.
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Standard & Poor's (S&P) has cut rating on Kingdom of Saudi Arabia (KSA) as it's suffering from lower oil prices. The long -term foreign and local currency sovereign credit has been lowered to 'A minus/ A-2' from 'A plus / A-1.'
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.
Wavecell is a startup company that focused on providing cloud communcation service. The company has just received its Series A Funding led by Qualgro Asean Fund.
Kentucky and 26 other US states consider hemp cultivation and processing as legal. Industrial hemp and its derivatives are widely used in fabrics, shampoo, plastics, building materials etc. To avail the potential business opportunity, Seed CX has raised fund for $3.42 million aiming to run a platform for hemp and its derivatives.
SolarCity has left modest growth plan in the US market due to withdrawal of subsidy from renewable energy sector. Investment of $10 million by billionaire entrepreneur Elon Musk has surprised many. This acquisition is believed to bring back confidence among the investors of SolarCity as a long term investment.
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.
Yahoo announced another round of layoff after early February cutoff. Around 300 employees in California office will lose their jobs.
Apple Pay is targeting China as its largest market. The mobile payment system was released Thursday and was hoping to convince retailers to use the system since there are hundred million users of Apple. A lot of banks will support Apple Pay including the Industrial and Commercial Bank of China.
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).
