VENTURE CAPITAL POST

LivingSocial, partly owned by Amazon, has represented itself as a foe in ecommerce business. Gautam Thakar, the new CEO has gone through a massive workforce reduction since his inception 18 months back. Beside job cuts, Thakar has transformed its business focus from daily deals to card linked discount business which is now being tested in three US cities and seems to be popular.

A huge slump in Valeant Pharmaceutical stocks on Tuesday made Pershing Capital to lose more than $1 billion in one day. Meanwhile Bill Ackman planned to take more active role in the drugmaker.

FedEx said in a statement that “a new entity competing” with the company will have to spend tens of billions of dollars to replicate its current extensive network. The statement, referring to Amazon’s new plan to get into the logistic business, also assured that FedEx’s relationship with Amazon remain strong.

McKesson is terminating 1,600 staffs from its US division in an effort to trim expenses after some important customers left the company.

Executives of all pioneer manufacturers have called for promulgation of uniform federal law ahead of a hearing of the Senate Commerce Committee on Tuesday. Several states in the US have enacted own law prohibiting the driverless cars which has been cited as the reason for their advocacy. However, lawmakers and analysts prefer more scrutiny before initiating a uniform law.

Shareholders of two U.S. prominent banks will vote later this year regarding the breakup plans for the banks. However shareholders are predicted to decline the plan submitted by liberal lobby activist.

Optus at last revealed on how Aussie football fans will be able to watch their favorite game via live stream. It will team up with SBS to broadcast live streaming of their favorite team and players from around the world provided that the viewers are Optus subscribers.

In fear of Brexit, economists predicted British central bank will keep its interest rate low. While Bank of England Governor Mark Carney warned that Brexit will damage British financial stability.

Ctrip reported a 50% increase in its net revenues for the fourth quarter ended December 31, 2015, as demand for online ticketing increases.

Celator Pharmaceuticals shares jumped more than 400% in Tuesday trading. Meanwhile, hedge fund manager Steve Cohen unvelied his 8.3% shares of the company.

Sources believe that Apple is trying to enhance its security for iCloud amid the legal dispute with the FBI. However, the tech giant will have its challenges to ensure security while retaining users convenience. Reports also said that the company has moved some of its iCloud services to Google servers.

Series of bankruptcy decisions indicates the decaying market stake of coal industry and Peabody appears as the latest to file chapter 11 with the New York Stock Exchange. Many coal mining companies are still operating with profits. So warning of bankruptcy by the world’s largest private coal miner doesn’t indicate possible extinction of the coal industry.

Two of the most prominent European stock exchange, Frankfurt and London has agreed to merge on Wednesday. The merger between them will create a new European trading powerhouse.

Crytek’s new VR-enabled game development engine, the CryEngine V, will be available for a price that “feels comfortable” in the company’s new “Pay What You Want” business model. Users can buy resources from the engine’s new Marketplace system and also choose to contribute to the company’s new program to help indie projects around the world.

The self-lacing shoe technology finally arrives, as Nike announced its newest adaptive lacing technology. The HyperAdapt 1.0 will be available for Nike+ members later this year.