August 2016
Netflix to Be More Widely Available in Hotels
Netflix (NASDAQ:NFLX) already had a deal in place in Enseo to incorporate the video-streaming service in a number of different hotels. On Wednesday, Netflix and Enseo, “an in-room entertainment systems integrator” that provides an entertainment […]
Cisco Plans to Cut Jobs, but Less Than Previously Expected
It was earlier reported that Cisco (NASDAQ:CSCO) may plan to lay off roughly 20% of its workforce, or approximately 14,000 employees, as it looks to slash its costs by 15%. According to the company though, […]
Activist hedge fund ValueAct takes Morgan Stanley stake
The hedge fund acquired 38 million shares of Morgan Stanley, equivalent to an around 2 percent stake in the investment bank, according to regulatory filings. ValueAct has been known for taking an activist role over […]
Private equity firms buy up distressed oil assets
Blackstone Group, Apollo Global Management and WL Ross all have invested in distressed US oil assets this year at discounted prices. Deals are picking up, in part, because the price of oil no longer is […]
Fed rate hike more likely this year
The Federal Reserve is again signaling an interest-rate increase. The policy committee might raise rates at a meeting next month, say William Dudley and Dennis Lockhart, presidents of the New York and Atlanta Fed banks, […]
The construction of homes in the US rose to its highest level in five months in July
The construction of homes in the US rose to its highest level in five months in July, the Commerce Department said. With inexpensive financing and job creation stimulating sales, residential starts rose 2.1% to an […]
8 major financial institutions began beta testing of blockchain technology
A venture backed by eight major financial institutions has begun beta testing a peer-to-peer network that aims to use blockchain distributed ledger technology to slash billions off the cost of processing foreign exchange transactions. Fronted […]
Chinese electric-car startup WM Motors raises $1B
Private investors have put $1 billion into an initial funding round for Chinese electric-car startup WM Motors, founder Freeman Shen said. The company plans to introduce its first car in 2018 and produce more than […]
South Korea reclaims 11th spot among largest economies
With GDP of US$1.38 trillion last year, South Korea has recaptured its position as the world’s 11th-largest economy, trailing Canada in 10th position. GDP last year was down from 2014, when Korea placed 13th globally […]