Louisiana Public Service Commission Rejected Macquarie's Move to Acquire Public Utility Cleco Power LLC
State regulator rejected a $4.85 billion dollar acquisition of utility power company Cleco to Macquarie Group on Wednesday. The regulator said that the acquisition did not serve the best interest of the customers.
Feb 25, 2016 8:39 AM EST
Swiss Drilling Company Transocean Posts Profit Despite Poor Oil Price
Transocean's fourth quarter earnings exceeded the analysts' earnings estimate amid the ongoing fall in the oil market. The company managed to post a quarterly profit of $617 million by reducing its operating costs.
Dollar rising as Nikkei further moves up
US dollar against Yen is rising as renewed buying support is propelling Japan's Nikkei index upwards. The priority shift among some investors from traditional safety net of Japanese currency to equities was the major reason on Nikkei's rise. The market players are eagerly waiting for the outcome of G-20 meeting this weekend in Shanghai.
Chesapeake Energy posts Q4 loss on heavy write-down
Oklahoma-based Chesapeake Energy has posted losses over $14 billion for 2015 and a net loss of $2.23 billion or $3.36 a share for the fourth quarter. The major reason for deep loss was writing down value of oil and gas fields in the wake of prolonged lower oil prices. However, the loss was better than the market forecast.
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New Jersey Biotech Startup Visikol Received $500,000 Investment from Foundation Venture Group
Visikol Inc is a biotech company with focused on tissue visualization. On Tuesday, the company has secured a commitment from Foundation Venture Capital Group
Feb 25, 2016 8:27 AM EST
Alberta's economy continues to shrink over uncertainty in oil market
The economy in Alberta will continue to shrink for the next two years amid weak crude prices globally. The province's shortfall in 2017 -2017 is anticipated to outstrip the October outlook by almost $5 billion.
Feb 25, 2016 8:20 AM EST
Ford Announced Plan to Triple Investment on Semi-Automous Driving Technologies Leading Up To Driverless Cars
Ford announced that the company will devote more resources to develop semi-autonomous driving technologies, as they aim to invest triple the amount of investment in the technologies. Some of Ford's cars already have some semi-autonomous technology in them, as with the updated version of Ford Kuga unveiled along with the announcement.
Feb 24, 2016 9:34 AM EST
American Fruits and Flavors Acquired by Monster Beverages for $690 Million
It was agreed that Monster Beverages will take over on American Fruits and Flavors, its leading supplier of fruit concentrares, flavors and mixes. The beverage company paid $690 million for the acquisition. Since 1990's the two companies have been working together.
Feb 24, 2016 9:30 AM EST
Mark Zuckerberg Supports Apple, Strongly Opposes Creating Backdoors For Law Enforcers
The US government has appeared in a row with Apple centering unlocking of encrypted data of an iPhone allegedly used by a terrorist. Apple opposes the demand citing creation of backdoors for the law enforcers, may lead to a potential abuse. Supporting Apple stand, Mark Zuckerberg has pledged playing due rolls in its fight while addressing in the Mobile World Congress on Monday.
Feb 24, 2016 9:18 AM EST
Venture Capital Investment in Space Startups Surged in 2015
Based on a report from defense and aerospace consulting firm there was a huge increase for investment in space travel during 2015. Space startup investment in last year were accounted two-third of the 15 years in total.
Feb 24, 2016 9:16 AM EST
Williams Cos. puts Canadian operations on the block for $1 billion
Williams Cos has decided to offload its Canadian operations for $1 billion. It is hoping to put it on the block in next week. In fact, it has already appointed two investment banks to oversee the sale process.
Feb 24, 2016 9:13 AM EST
Bank of England has many choices to boost Britain's economy according to Governor Mark Carney
Bank of England has many choices to boost Britain's economy. The bank may slack its financial policy on fears that the country may exit the European Union.
Feb 24, 2016 9:11 AM EST
American International Group, Inc. Reported Larger Than Expected Net Loss of $1.8 Billion in Q4 2015
American International Group, Inc. reported a bigger quarterly loss than expected. The company was hurt by weak underwriting and investment return. The big loss in Q4 made its full year income dropped by more than 70%
Feb 23, 2016 9:59 AM EST
Reddit Enhancement Suite (RES) Secures $10 Million Investment Capital From ORIX Ventures
2015 appears as the most successful business year ever from RES context. It has touched several milestones while being acknowledged as the Best of VMworld 2015 Europe. The browser extension provider has received $10 million from ORIX Ventures to accelerate its penetration into the emerging market.
Feb 23, 2016 9:57 AM EST
AT&T to spend $10 billion to expand its business solutions for customers worldwide
AT&T on Monday announced its intention to spend about $10 billion in order to provide its "integrated solutions" for enterprises globally. The company is also testing its 5G broadband services at enterprises and homes.
Feb 23, 2016 9:51 AM EST
Poundsterling Took a Hit Over Possible "Brexit"
British currency suffered the biggest drop in one day, triggered by speculation Britain to leave. While Prime Minister Cameron stressed the importance of United Kingdom to stay in the EU.
Feb 23, 2016 9:44 AM EST
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