Audi AG reported a drop of 6.1% in its operating profit for 2015. The carmaker's profit after tax declined 3% owing to costs of repairing diesel engines related to emission scandal.
United States
U.S. Service Sectors Expanded More Slowly in February
The Institute for Supply Management (ISM) announced on Thursday that service sectors in U.S. is expanding modestly. However, the sectors fared better than manufacturing in February 2016.
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.
Latest News
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.
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.
Los Angeles is the first city in the U.S. to enjoy Uber’s new service, UberEats. Uber launched the new feature as a standalone app whereas a special, food-handling-certified driver will handle food orders and delivery from hundreds of restaurants across the city.
Advanced Research Projects Agency-Energy (ARPA-E) plan to outperformTesla. The agency under Department of Energy has been on research for years.
S&P 500 index began this week by slide below closely watched threshold. However, on Wednesday as Asian stock continued raising for third consecutive day, indexes began to recover.
SunEdison has announced on Wednesday suspending quarterly dividend followed by earlier decision for making delay in disclosing quarterly earnings report. Following these revelations, the banks deciding earlier to extend loan facility, have pulled out from the loan commitments. Delay in disclosing earnings violate prior loan agreement which has been cited as the reason for pulling back.
Honda has invested an extra cash of GBP 200 million in the Swindon facility. This move highlights the company's long-term desire to commence a manufacturing plant in the UK.
Tech salaries are soaring higher, as last year it more than doubles the average pay in other sectors. It proves that the tech industry remains a major driving force in the U.S. economy with high income and massive job gains across the country.
