Uber’s Q3 loss reportedly tops $800M
Uber lost more than $800 million in the third quarter and more than $2.2 billion during the first nine months of the year, a source told Bloomberg. Fares paid by riders totaled $5.4 billion last […]
2016
Iran has finalized an agreement with Airbus to acquire 100 jetliners
Iran has finalized an agreement with Airbus (OTCPK:EADSY) to acquire 100 jetliners, the first of which is tentatively expected to be delivered in mid-January. “Although the nominal value of the contract for 118 Airbus planes […]
Mortgage rates on the rise
Mortgage rates are rising after the presidential election and Federal Reserve’s interest-rate hike, signaling a shift to higher borrowing costs for consumers. Mortgage lenders expect refinance volumes to reach half their previously anticipated levels next […]
Germany’s R&D investment surges
Germany’s spending on research and development rose 9.5% to €62.4 billion last year, a record. By far the biggest factor driving the trend was investment by the auto industry, which spent €21.7 billion on R&D. […]
Internet of Things will fundamentally transform car industries
Internet of Things (IoT) can enable new approaches to driving and potentially new business models. Indeed, while taxi drivers couldn’t see Uber coming, car manufacturers can see self-driving coming. Beyond Uber, connected cars may be […]
Private Jet Startup JetSmarter gets $105M from investors
Private jet startup JetSmarter, said Monday it had raised $105 million in financing. The investors include the Saudi Royal Family and rapper and businessman Jay Z. JetSmarter raised the fresh funding at a $1.5 billion […]
Malaysia’s currency plunges to weakest value since 1998
Malaysia’s ringgit touched 4.4805 to the dollar, its weakest value since January 1998 during the Asian financial crisis. The fall comes as global investors sell off emerging-market assets, a trend that accelerated in Malaysia after […]
Gold predicted to end year at a loss
Gold is on track to finish the year lower than it began, after an 11% drop since the US presidential election. The commodity will have closed in the red for four years in a row […]
Moody’s downgrades outlook for Italian banking system
Moody’s Investors Service changed its outlook for Italy’s banking system to negative from stable. Over the next 12 to 18 months, increasing loan-loss provisions will cut profit and decrease banks’ capital, the ratings firm said. […]
Messaging startup Symphony gets valuation topping $1B
Symphony is a secure financial messaging service backed and used by 14 of the biggest banks on Wall Street. It is raising up to $200 million in a new round of funding with a pre-money valuation over $1 […]