Goldman Sachs sells 1.3 million Valeant Asset instead of allowing CEO to add collateral
Instead of adding more collateral, Goldman Sachs sold 1.3 million worth of shares from Valeant CEO Michael Pearson's share of the company on Thursday in line with his $100 loan.
Nov 12, 2015 2:18 AM EST
Dollar rally is back on support of interest-swap rates
The US dollar turned bullish now. The greenback is trading at six-month high against Euro. The two-year dollar interest rate swaps surpassed shared currency area. Higher US interest rate swaps over European rates indicate strongest possibility of interest rate hike by US Federal Reserve.
Molson Coors to buy SABMiller's stake in Miller Coors
Molson Coors Brewing Co is nearing the closure of buying shares of SABMiller in Miller Coors for $12 billion. The stake sale is very much needed for getting regulatory approval for $106-billion SABMiller and Anheuser-Busch InBev NV merger plan.
HSBC and JPMorgan Chase Must Increase Their Cash Reserve According to New Rule
After seven years of Lehman Brothers collapse, global economy learns to prevent the same incident occurs. Top 30 world's most important banks must raise trillions to meet new rules of total loss-absorbing capacity, on top of the lists are HSBC and JPMorgan Chase.
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Maersk Buys $845 million of Africa Oil Corp. assets
Maersk Oil will buy $845 million worth of Africa Oil Corp.'s onshore exploration licenses in Kenya and two more in Ethiopia.
Nov 11, 2015 2:54 AM EST
Japan, US rule out re-opening of trade pact
The US and Japan administrations have ruled out any possibility of re-negotiating the just-concluded TPP pact among 12 nations. It took over five years to make the TPP deal and at this stage it's not possible to re-open the trade negotiations.
Nov 11, 2015 2:03 AM EST
EIA cuts 2016 production forecast for US
The US Energy Information Administration (EIA) has cut crude production outlook by one percent for 2016. The oil price fall has also reduced shale drilling activity by over 50 percent in the US. The rise in wages and drop in unemployment rate and gasoline price are creating more demand in the US economy.
Nov 11, 2015 1:48 AM EST
GE and Alstom get $5.6 billion deals to build India railways
General Electric and French firm Alstom get the huge deals for India railways worth as much as $5.6 billion. The companies won the contracts against Bombardier and Siemens.
Nov 10, 2015 10:54 PM EST
Volkswagen pacifying angry US customers with gifts
After the emission scandal, Volkswagen has taken up damage control measures to impress upon angry US customers by offering $1,000 gift in addition to a roadside assistance service at no additional cost for three years.
Nov 10, 2015 10:35 PM EST
Nestlé's Maggi Noodle Makes A Happy Return To Indian Shelves This Diwali After Successful Testing
Nestlé Maggi Noodle which was a top favourite in India was recalled by virtue of a court order in early 2015 for detecting high levels of lead beyond the permitted levels. Nestle recovered ground by having their products tested by an independent laboratory and petitioned to the court for a judicial review.
Nov 10, 2015 4:26 AM EST
Retailers bracing up for big holiday season; hiring in full swing
The US retailers are upbeat about the forthcoming big holiday season and have started hiring people on a part-time basis. The world's largest retailer Amazon is planning to recruit almost 100,000 staff.
Nov 10, 2015 3:39 AM EST
China’s Anbang insurance to acquire US insurer Fidelity & Guaranty Life in a $1.6 B deal
China insurance group Anbang will acquire US insurance provider Fidelity & Guaranty Life. The $1.57 billion deal aimed to expand China insurance in the global market.
Nov 10, 2015 3:13 AM EST
Banana Republic sales drop hits Gap Inc's stock on Wall Street
The US-based clothing retailer Gap Inc shares turned volatile following the sales drop in its brands the Banana Republic and Gap. In addition to a weaker forecast of earnings, a lower than previously predicted, have dampened the business confidence and put more pressure on the stock.
Nov 10, 2015 3:07 AM EST
Ford to invest $9B in US plants
Ford has reached an agreement with United Auto Workers (UAW). As part of the agreement with the labor union, Ford is investing $9billion in US plants. Ford will develop new models and relaunch Ford Bronco and support Ford Ranger as well.
Nov 10, 2015 3:03 AM EST
Markets upbeat on Monte Paschi bank's higher capital
The common equity tier-I ratio of Italian bank Banca Monte dei Paschi di Siena SpA rose to 11.7 percent from 10.7 percent. The derivatives transaction with Nomura Holdings was the prime reason for surge in bank's capital.
Nov 10, 2015 2:53 AM EST
Investcorp buys hedge fund of SSARIS
Bahrain-based Investcorp Bank has bought hedge fund business of the US-based SSARIS Advisors. With the acquisition, Investcorp aims to double its assets under management over next seven years. The Bahrain's bank will also get clients from the US, Asia and European markets.
Nov 10, 2015 2:13 AM EST
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