Archives

Wells Fargo Settled $1.2 Billion Over Bad Housing Loans Secrecy

As settlement for hiding bad loans and house desolation, Wells Fargo will pay $1.2 billion. The bank lender admitted of cheating the government by insuring thousands of risky mortgages although they are not eligible.


US court rejects $12.25-mln Lyft lawsuit settlement

A US Court has rejected $12.25-million legal case between Lyft and its drivers. Lyft and attorney of drivers need to sit back again on further discussions after the latest judgment.

European banks under regulators' scanner amid Panama Papers issue

European banking regulators have begun probing links between banks and tax havens in the wake of leakage of Panama Papers. Switzerland's financial watchdog FINMA has cautioned banks to crack down on money laundering. Geneva has also commenced a criminal enquiry into banks dealing with tax havens in the wake of Panama Papers.

Verizon to bid for Yahoo, Yahoo Japan stake

Verizon Communications Inc will bid for Yahoo's web business, while Alphabet Inc's Google unit is also exploring options on bidding for it. Additionally, Verizon may also make an offer for stake in Yahoo's Japan subsidiary.


Latest News

The inability to access export finance is causing sales loss for several US majors including Boeing Co. The board of US Export-Import Bank is yet to be accommodated with a third member, without this export finance exceeding $10 million can't be approved.
Oil price, Asian stocks and bond yields were trading marginally higher on Friday ending the week on positive mode. Japanese currency Yen continued to rise against US dollar and this also further aided Asian stocks.
Argentina government will market its $12.5-billion bond offer in North America by organizing road shows in New York, Washington and Los Angeles. The $12.5-bln bond offer will be marketed in the US and the UK.
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Financial tech and its $147 billion potential market opportunity required financial regulators to supervise the industry. In 2015, investments in the fintech sector doubled, reaching $14 billion.
JPMorgan Chase has advised its shareholders to vote against the proposal to split up the bank. The bank warned its shareholders that the breakup proposal will not benefit its investors.
The sub-Saharan African economy could face a serious decline in 2016, far behind the rest of the economies in the world.
The company called off the acquisition of Allergan after the U.S. Treasury issued the rule preventing the deal. Nevertheless, Chief Executive Officer Ian Read still has the investors support.
Gap Inc reported its sales results for the month of March. The retailer saw a decline in March sales, which pushed the shares down around 10%.
Google will provide seed funding in Asia's renewable energy that will start off in Taiwan. Through the Center for Resource Solutions, the funds will be used to set up renewable energy certification programs.