On Tuesday, Shares of Alibaba Group Holding Ltd (NYSE:BABA), gain 0.80% to $57.85.
Alibaba Group Holding Limited (BABA), Ant Financial Services Group and One97 Communications, the parent company of Paytm, India’s largest mobile payment & commerce platform, declared recently a contract under which Alibaba and Ant Financial have agreed to make a planned investment in Paytm. Ant Financial made its initial investment in Paytm in February 2015 while Alibaba will become a new investor in Paytm after the completion of the transaction.
The fresh capital infusion will allow Paytm to achieve scale and develop its vibrant mobile commerce and payment ecosystem in India and invest in marketing, technology and talent. Investing in Paytm will enhance the ability of Alibaba and Ant Financial to tap opportunities in India’s fast-growing mobile e-commerce marketplace and digital finance industry.
Ant Financial has been developing synergies with Paytm since its initial investment in February of this year. Ant Financial’s further investment in Paytm with this transaction demonstrates the company’s confidence in India’s digital payment sector. Ant Financial and Paytm will continue to capitalize on opportunities in mobile wallet to offer Indian consumers comprehensive products and services and to tap the noteworthy potential of the India mobile payment market.
This transaction further demonstrates the commitment of Alibaba, the largest online and mobile commerce company in the world in terms of gross merchandise volume, to continue to internationalize its e-commerce business.
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces accessible through both personal computer and mobile interfaces in the PRC and internationally.
Shares of Comcast Corporation (NASDAQ:CMCSA), inclined 0.60% to $55.14, during its last trading session.
Comcast NBCUniversal, the parent company of Universal Studios Hollywood, said it has agreed to buy 51 percent ownership of Universal Studios Japan for about $1.5 billion. bizjournals
The company said the deal was a recapitalization transaction with the current owners, counting Goldman Sachs, Universal Studios Japan CEO Glenn Gumpel, Asian private-equity firm MBK Partners, and U.S. hedge fund Owl Creek Asset Administration. bizjournals
Comcast NBCUniversal originally owned a 24 percent stake in the theme park in Osaka when it opened in 2001 but sold its shares in 2007, according to the Los Angeles Times.
“We are excited to expand our global footprint with this wonderful theme park in Osaka and are excited by the opportunities that lie ahead in Japan and all of Asia,” Comcast Chairman and CEO Brian L. Roberts said in a statement. “This investment represents a huge opportunity and commitment to creating value for our shareholders and ongoing to grow internationally.” bizjournals
Comcast Corporation is a media and technology company. The Company has two primary businesses, Comcast Cable and NBCUniversal. The Company’s business line comprises five segments: Cable Communications; Cable Netoperates; Broadcast Television; Filmed Entertainment, and Theme Parks. Cable Communications comprises of the operations of Comcast Cable, a provider of video, high-speed Internet and voice services under the XFINITY brand. Cable Netoperates comprises primarily of its national cable netoperates, regional sports and news netoperates, international cable netoperates, and its cable television production operations. Broadcast Television comprises primarily of the NBC and Telemundo broadcast netoperates.
Shares of Nokia Corporation (ADR) (NYSE:NOK), inclined 1.78% to $6.57, during its last trading session.
In the effort to reduce traffic congestion and improve safety with intelligent transportation systems (ITS), government and the private sector should look to existing mobile network infrastructure and be prepared to embrace data liberalization, according to automotive research firm SBD and HERE.
In their joint whitepaper, SBD and HERE argue that ITS managers can avoid the pitfalls that have plagued many ITS projects during the last decade by taking advantage of recent technological advances.
Spending on ITS has so far tended to end up in costly hardware-heavy projects, the vast majority of which have not been commercially sustainable, said the co-authors of the study Andrew Hart of SBD and Bernd Fastenrath of HERE. Fortunately, the growth of powerful mobile networks, the proliferation of sensors and the increasing maturity of connected data analytics are paving the way for software-richer ITS designs. For ITS managers, it means effective solutions are attainable which are affordable, scalable and interoperable.
According to SBD and HERE, some USD 89 billion has been spent in the last decade on large-scale ITS schemes which have either failed to meet their stated objectives or suffered lengthy delays. Additionally, despite a large volume of government-funded research projects and trials, a disproportionately small number have translated into commercial deployments. In many cases, the critical enabling technologies have lacked maturity, have been too costly, or have not been sufficiently user-friendly.
HERE, a Nokia company, is a leader in navigation, mapping and location experiences. We build high-definition (HD) maps and combine them with cloud technology to enable rich, real-time location experiences in a broad range of connected devices from smartphones and tablets to wearables and vehicles.
Nokia Corporation (Nokia) invests in technologies. The Company operates through three business segments: Nokia Netoperates, HERE and Nokia Technologies. Nokia Netoperates offers network infrastructure software, hardware and services. Nokia Netoperates has two segments: Mobile Broadband and Global Services.
Finally, Spectra Energy Corp. (NYSE:SE), ended its last trade with -4.23% loss, and closed at $25.34.
Spectra Energy Corporation SE has withdrawn itself from the auction for the acquisition of rival pipeline company Williams Companies Inc. WMB. Per sources, this has raised the chances of Energy Transfer Equity LP ETE finally purchasing the company.
In June, Williams put itself up for auction after rejecting an acquisition proposal from Energy Transfer Equity. The offer was valued at $53.1 billion, which comprised assumption of the Williams debt at the time. The projected deal, however, was dependent upon Williams plans to call off the acquisition of the portion of its pipeline partner Williams Partners LP WPZ that was not already owned by it for $14 billion. Zacks
Spectra Energy Corp is a natural gas infrastructure company. The Company owns and operates natural gas-related energy assets and a crude oil pipeline system connecting Canadian and the United States producers to refineries in the United States Rocky Mountain and Midwest regions. It operates in three areas of the natural gas industry: gathering and processing, transmission and storage, and distribution.
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