Ratan Tata has invested in a new tech start-up business, Snapbizz. This is Tata's eighth e-commerce business this year after DogSpot.in, Tracxn, CashKaro, FirstCry, Teabox, Moglix and Invictus Technology.
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China Military: Recent Technology Modernization Is Closing Tech Gap Between China and the US
Recent statements and reports acknowledged that China is closing its technology gap with the United States, especially in air forces. Chinese governments have been using resources to support modernization on the military. However, the pilots' ability between the two countries is still facing a huge gap due to experience and training program.
Joi Scientific Claims For Producing Hydrogen From Water, Raises $5.5 Million Series A Round Fund
Joi Scientific has claimed for discovering technology to produce hydrogen from water on Tuesday. At the same time, the research firm discloses for raising $5.5 million fund for its Series A round. If Joi’s claims come true, the research firm will be able to redraw the global energy map.
Asian hedge funds look to safe haven after January crash
Hedge funds in Asia witnessed losses the most in January 2016. The financial markets sell-off in the month made hedge funds suffer losses over 10 percent. Asia-focused hedge funds recorded losses of 3.1 percent indicating the worst beginning since 2008.
Columbia Capital Closed $500 Million Venture Fund Targeting Internet Infrastructure
Columbia Capital closed its sixth fund on Tuesday. The firm will target internet infrastructure, mobile technology and cloud service.
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Anglo American Plc suffered a pre-tax loss of $5.5 billion (£3.8bln) for 2015 year. The 2015 loss was more than twice the loss incurred in 2014. As part of its future strategy, Anglo American is planning to shift its focus to copper, platinum and diamonds.
Volkswagen is facing a drop in its sales due to the emission scandal on its engines. The Germany automaker has to conduct recalls to repair the troubled cars. This scandal also has opened chances for its rivals to grab its markets.
India's exports fell 13.6 percent from January a year ago and it has been dropping for 14 consecutive months, while imports contracted 11.01 percent. However, the Reserve Bank of India will not devalue its currency unlike China and Japan.
China is planning to put more budget in infrastructure. The country's planning agency expects to boost spending and increase investment to maintain 7% annual economic growth as last year.
General Motors discontinued and then sold its Saab and Saturn brands. Ironically, it made an announcement today that these cars from both brands consist of parts that could explode from the Takata airbag. The said cars’ manufacturing date was way back 2003 and a total of 180,000 vehicles are recalled in the U.S. while 20,000 units are from Canada.
The .cloud domain is now available which launched in the mid-November and became exclusive for trademark holders only. Because of the thousands of orders and duplicate domain names, these will be auctioned through Aruba.
Starbucks have brewed some new additions to its mouth-watering menu. The company introduces the Smoked Butterscotch Latte together with the Teavana Citrus Green Latte, whether hot or cold and other versions of Frappuccino. This latest addition is available in U.S. and Canada only.
One of the world's biggest mining company Anglo American Plc announced to sell its share in Kumba Iron Ore on Tuesday. The South African multinational company has suffered loss in its full-year performance.
Marijuana sales in Colorado has hit the massive $1 billion mark. After legalization of the cannabis for medicinal and recreational purposes in 2012 the sales has increased by 42 percent over the last year. The state would reportedly use about $35 million of the tax profit for construction of schools.
