Valentino has made an offer to acquire French fashion house Balmain for 500 million euros. Balmain’s heirs has decided to find a new owner after the fashion house’s former chairman and majority owner, Alain Hivelin, passed away in 2014.
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Aramco’s Investment Plan In India Aims To Diversify Saudi Economy Reducing Dependence on Oil Prices
Minister Al Falih, head of Aramco, has expressed intention for investment in India’s oil industry. The intention has been revealed following its earlier decision for selling less than 5% stake of Aramco through IPO. All the moves have been analyzed as parts of Saudi bid to diversify its economy while reducing dependence on oil prices.
Finnish FM Faces Party Leadership Challenge From Right Wing MP
Elina Lepomäki, a right wing MP from National Coalition Party, has announced vying for party leadership with Alexander Stubb, the Finnish Finance Minister. In Finland, party leaders generally steps down from the cabinet membership, also following defeat in leadership challenge. NCP is scheduled to elect its new chair during the party congress in June.
Trial for Five Former Barclays Bankers on Libor Rigging Case to Start Monday
After a series of setbacks, UK's Serious Fraud Office will start the third trial on Libor rigging case. Five former bankers in Barclays will stand accused as conspirators.
Societe Generale SA to Cut 128 Jobs in Its Global Banking Division
The third largest bank in France will continue its cost cutting plan. Through the year 2020 the bank will cut 550 jobs in its retail operation.
Latest News
United Airlines and the labor union both agreed on a 30% wage hike that will envelop the next five years. The agreement will benefit about 30,000 union employees that includes airport workers.
Deutsche Bank has missed its ranking as a top three investment bank in the world. The weak EURO as well as the bank's restructuring approach pushed it to the fifth place in the investment sector.
The US government doesn't seem be in favor of giving total access to Iran on its financial system. US President Barack Obama said the government is not looking to permit the use of its financial system in dollar-denominated deals with Iran.
Top M&A lawyer, Scott Barshay, leaves Cravath to be a global head of mergers and acquisitions for rival law firm Paul, Weiss. Mr. Barshay has been representing big and high-profile clients, including Honeywell, Starwood, and 3G investment firm.
More than 137,000 people have submitted a $1,000 deposit for pre-order of Tesla’s recently unveiled electric car ‘Model 3’. The pre-booking figure suggests Tesla’s ability for achieving its pre-set goal for selling 5,000 cars by 2020. Following the revelation, Tesla stock has been witnessed to increase by 60% during extended hour trading on Wednesday.
UK's financial chiefs are concerned about impact of Brexit, postponing their key decisions on hiring and investments. The British industry and business segments are in wait and watch mode until referendum on Brexit in June 2016.
Leonardo DiCaprio can still visit Indonesia and will not be barred as an Indonesian minister appreciates his effort about the plight of the animals and how to help them and looks forward on working with him.
Xiaomi’s partnership with India’s Hungama will make it easier, more accessible and more affordable for locals to access the company’s service that will soon be integrated together with themes and ringtones.
The Kingdom of Saudi Arabia is poised to sell bonds after it has secured syndicated loans. The government is already in talks with the banks and will host Euromoney Saudi Arabia Conference on May 3 to 4 to determine the future of KSA market.
