The lower oil price for about 19 months is benefiting the consumers, but creating a lot of problems for the global governments and business firms. Many banks and the US government forecast oil price above $40 a barrel this year. The oil price fell to below $30 during the past 19 months from $107 a barrel.
Regions
Takata's restructuring plan unveils in May for car makers
Takata Corp, a manufacturer of airbags used in vehicles for consumer safety, will announce its restructuring plan to automakers in May. The restructuring plan is expected to include the sharing of recall costs. The defective airbags are forcing automobile majors to recall millions of cars.
Charlottesville Is The Fastest Growing Venture Capital City in the U.S.
According to PwC and NVCA report, Charlottesville has been the fastest growing startup since 2010. Between 2010-2015, venture-backed startups increased 55% annually in the place where Thomas Jefferson's house is located.
India's Bharat Biotech International Announced Invention of Vaccine for Zika Virus
Today, India's largest biotech company announced to have been able to make two vaccines for zika virus. A day before, France's Sanofi Pasteur planned to research on vaccine for the mosquito-borne disease.
Theme Park: Shanghai Disneyland Announced Ticket Prices as The Lowest Among All Other Disney Parks
The Shanghai Disneyland's ticket prices would be 20 percent cheaper than Hong Kong Disneyland at 539 yuan, even though the Shanghai's area would be much larger. After being constructed for more than six years, the park would be ready to open for public this summer with possible further expansion.
Latest News
The Pentagon on Tuesday unveiled its plan to boost spending in defense mechanism in 2017, aiming to increase its military capability to back its European NATO allies. The US Defense Department requested a budget seeking 7.5 billion US dollar for operations in Syria and Iraq for the year 2017.
S&P rating service on Tuesday downgraded Sprint credit to B, citing a challenging environment for the wireless industry. Morningstar and Moody have also demoted Spring credit rating.
Citigroup holds view that it's too early to come to a conclusion about the state of the world's largest economy. It advises investors not to offload stocks over China. Citigroup in its latest research reports terms the present uncertainty and sluggishness in the Chinese economy and markets as a 'correction.'
The latest forecast indicates 50 percent rebound in oil prices by the end of 2016. The oil price could be higher by $15 per barrel this year taking the New York crude to $46 a barrel by fourth quarter and Brent to $48 during the same period. The drop in US shale output is likely to drive oil price up in the second half of 2016.
The U.S. Air Force said Boeing would build the planes to replace the two outdated model of Boeing VC-25 airplanes used by the U.S President. Boeing was the sole bidder, and the initial $25.8 million contract to reduce risk and lower the cost of the program by looking at the tradeoff between the requirements and design of the new plane.
Woodford Investment Management and Allied Minds lead the funding to raise a $22 million for Federated Wireless on Monday. The company will develop a high-quality wireless capacity for Wi-Fi and wireless networks.
Xerox Corporation will be split into two separate business entities for hardware and services businesses. It's learnt that activist investor Carl Icahn will get multiple positions on the boards of the two companies including three on the board of services company. Xerox's fourth quarter numbers are expected to be released on Friday and an official statement about division may also be announced simultaneously.
After a massive loss of $4.3 billion in Q4, Yahoo will struggle much more to return to profitability. The Internet company decided to cut its employment by 15%, close some offices and explore strategic alternatives.
Stocks dipped to session lows on Tuesday. Shares of oil companies plunged as crude oil continued to slide. Three of major indexes also fell.
