Financial Report: Soundcloud Reported Prolonged Losses, With 2014 Loss of $44 Million
Soundcloud's financial report revealed that the company is experiencing significant loss in 2014, and the losses had started from several years before. The 2014 loss was due to large expenses, even though Soundcloud's revenue actually experienced a growth. The company expects to face losses for the next three years, but they are striving to plan strategies to increase income.
Feb 12, 2016 7:46 AM EST
JP Morgan's CEO purchase $26 million worth of his own company's shares
Jamie Dimon, chairman and chief executive officer of JP Morgan Chase & Co, spent $26 millions to buy shares of his bank on Thursday. The share purchase is translated as good sign by other investors as the shares climbed by 2 percent after the news broke out to the public.
Tesla's Summon feature to Fortify Company's Entry into Autonomous Driving
Tesla has release it's Summon software update that will allow users of its Model S to remotely park their cars. The technology will also increase the safety for the driver.
Zimbabwe Suffers Severe Drought And Is In Need Of $1.5 Billion Aid
Zimbabwe suffers a massive disaster in the form of drought which has hit immensely on the entire country. The Vice president Emmerson Mnangagwa has appealed for $1.5bn aid from the local businesses and charities to save more than a quarter of his population from extreme water scarcity.
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Obama’s final budget of more than $4 trillion expectedly faces a hostile Republican front
US President Barrack Obama has finally disclosed the 2017 US budget details. Never to shy away from what he deems right, even in the last year of presidency, he has included his long-term liberal plans that have been widely criticized by the Congress. The highlighted ones are his global climate change initiative, fee levied on crude oil, and enhanced medical care for cancer patients and drug addicts.
Feb 10, 2016 8:45 AM EST
Online Publishing: Wired Magazine Will Offer Ad-Free Experience for $3.99 per Month
The offer is part of the company's strategy to gain income amid the increasing use of ad-blocking softwares. Websites had been losing significant advertisement revenues and develop other alternatives to bring ad-free experience while keeping the business going. The offer will start next week for $3.99 per month or $1 weekly.
Feb 10, 2016 8:43 AM EST
US economic woes not due to lower oil prices
The US economy woes are not due to oil price drop, opine economists, who rule out the common view of financial media, government officials and academic that attribute the oil price drop to the American economic woes. The oil price fall will be detrimental to oil producing nations, but it's a boon to the rest of the economy.
Feb 10, 2016 8:38 AM EST
Global growth concerns hammer down Europe stocks drop for 7th day
For seven sessions in a row, European stocks suffered losses amid growing concerns about the global economy growth. The lower oil prices, disappointing quarterly results and sluggish global markets are also taking a toll on European stocks. Indicating the alarming situation in the European financial sector, the cost insuring debt against default reached its peak since 2013.
Feb 10, 2016 8:29 AM EST
Credit Suisse CEO Suggested Bonus Reduction After Billion Dollar Loss
As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.
Feb 10, 2016 8:21 AM EST
Stentrode to channelize power of mind to move bionic limbs
The Royal Melbourne Hospital is on the verge of a medical breakthrough with its 'Stentrode' - a small, paper-clip-like brain implantation that is said to bring back mobility to paralyzed patients. This cure will eliminate the need of an open brain surgery, and the first clinical trials on human are slated to begin in 2017 in Melbourne.
Feb 10, 2016 8:16 AM EST
Company Acquisition: Microsoft Acquired Music Player App By The Name "Groove"
Months after rebranding Xbox Music and relaunched it by the name Groove, Microsoft acquired a music player app that goes by the same name. The Montreal-based startup agreed to sell the name and technology to Microsoft, but the details are disclosed by both companies.
Feb 10, 2016 8:13 AM EST
Sonos Officially Announced Adding Apple Music Streaming Service to Its System
After launching the public beta version in December, owners of Sonos system will now be able to enjoy Apple music service. The features will be available starting Wednesday morning.
Feb 10, 2016 8:10 AM EST
Customers of MF Global Will Receive $1.8 Billion In Liquidation Case
U.S. Bankruptcy Court of the Southern District of New York on Tuesday ended the liquidation proceeding of the MF Global. Judge Martin Glenn ruled to close the estate of the defunct brokerage and repay the customers $1.8 billion .
Feb 10, 2016 8:07 AM EST
Samsung To Unveil Galaxy S7 And S7 Edge, May Hit Market in March For Around £600
Samsung is probably going to unveil Galaxy S7 and S7 Edge as its new flagship smart phones in the WMC to be held within February 22 to 25. Introduction of Galaxy S6 variants hasn’t become much fruitful for Samsung. But the new S7 variants are widely assumed to bring fortune for Samsung since incorporation of mass desired features.
Feb 09, 2016 9:49 AM EST
Volkswagen's trucks division mulls over IPO, expansion
Volkswagen's heavy truck division is exploring several options for enhancing business growth. The trucks division is studying initial public offer (IPO) plan and acquisition route to achieve higher growth rate. Trucks division is keen on expanding in the US and Chinese markets.
Feb 09, 2016 9:43 AM EST
Advisory Services of Barclays, Credit Suisse and Evercore Fail To Protect Apollo Education From Acquisition
Barclays, Credit Suisse and Evercore have acted as financial advisers to Apollo Education. Despite their advisory efforts, the institution has incurred a loss of $60.8 million during the last concluded fiscal quarter. Finally, Apollo Education has been compelled to go through acquisition for $1.1 billion.
Feb 09, 2016 9:37 AM EST
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