Atlante fund, designed to rescue Italian banks, has attracted about 1.6 billion euro ($ 1.8 billion) to further purchase "bad" loan portfolio Banca Monte dei Paschi di Siena (BMPS), reports Reuters. Problem loans of Italian banks totaling € 360 billion become a concern of investors, and contributed...

Uber’s main rival in one of Asia’s fastest growing ride hailing market – India, Ola has been left more vulnerable to attack in its $12 billion home market following Didi Chuxing's acquisition of Uber's China business last week which has reshaped the landscape in Asia's growing ride-hailing sector....

As Middle Eastern output is climbing to records amid OPEC’s battle to defend market share, production increases from Norway and the neighboring U.K. are adding to a global supply glut.   “The road ahead is far from smooth” as large stockpiles are forecast to keep weighing on oil prices even...

In a news report Reuters quotes various sources that say that Nissan is looking to sell off its controlling stake in a car battery manufacturing venture. The report also quotes the sources saying that the Japanese auto maker is in talks with Panasonic Corp for this purpose as well as with other...

In recent decades, the United States have admittedly been a global technology leader. Now, however, China is reducing the backlog in many industries - from drones and electric vehicles to smart phones and data analysis. Last week, Chinese startup Mobvoi announced plans to launch sales of its smart...

Apple is the latest company to join dozens of firms that already offer payments for help uncovering flaws in their products. The U.S. based maker of iPhones and operating system said that payment of up to $200,000 as rewards for researchers who find critical security bugs in its products was being...

Mortgage agency Fannie Mae will transfer $ 2.9 billion in dividends to the US treasury in September 2016. Meanwhile, the agency’s revenue and profit in II quarter have declined, which was largely causesd by low interest rates. Net profit of Fannie Mae in the II quarter was $ 2.95 billion compared...

The acquisition of Bamboo can boost Pfizer’s gene therapy investment agenda. Bamboo Therapeutics Inc, a “privately held gene therapy developer”, has now been acquired by Pfizer Inc, whereby the deal was worth “$645 million”. The said acquisition was made by Pfizer in an attempt to enhance the...

Net loss of Tesla Motors in January-June 2016 amounted to $ 575,455,000, which is approximately 70% higher than losses of the first half of 2015 ($ 338.4 million) according to the company's report, prepared in accordance with GAAP standards. In the first quarter of 2016, Tesla Motors’ losses...