The turbulent situation Japan's banking sector is likely to impact global markets. A leading hedge fund manager says that collapse in the Japan's banking industry blindsides the market, while shrugging off any possibility of banking crisis in the world's third largest economy.
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GE Acknowledges CEO’s Achievements Last Year, But His Total Compensation Reduces 11.5%
GE acknowledges 2015 as one of the most successful business years in its history while recognizing CEO’s leadership contribution. Jeffrey Immelt, chairman and CEO of GE, has received $33 million compensation in total for 2015 which is 11.5% lower than the previous year. The compensation package has been disclosed through a regulatory filing with U.S. Securities and Exchange Commission.
The Egyptian Central Bank Devalues Currency Against US Dollar, Mulls For Raising Benchmark Rates
Economists and analysts have repeatedly been suggesting for devaluation of local currency in a bid to ease pressure on foreign currency reserves. But the Egyptian central bank has refrained from doing so considering surge in inflation. The inflation has been recorded as the lowest in February during the last six months and the bank has devalued the currency on Monday.
Big Commercial Banks Criticized European Central Bank's Simulus Measure
Commercial banks in northern Europe criticized ECB for its four-year cheap loan policy and stimulus program. The policy was aimed to stimulate growth for banks that struggle in southern part of Europe.
US FDA to check Martin Shkreli's type of strategies to spiraling up drug prices
With an objective of not giving any such scope for price escalation as Martin Shkreli did for Daraprim generic drug, US Food and Drug Administration (US FDA) has turned very cautious on approvals to generic drugs. US FDA is now reviewing new applications for generic drugs, while ensuring no such lapses of price escalation.
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New York-based Avon Products Inc is shifting its headquarters to the UK. It's also in the process of reducing headcount by about 2,500 and investing in technology and innovation to enhance sales volume.
It was agreed that Apollo Global Management is taking over Fresh Market Inc. Chairman and founder Ray Berry is not so pleased and is considering of making the company private where he and his son own 9.8% of shares. This would be Apollo's third largest acquisition that is worth more than a billion dollars.
Oil prices might have propelled above $40 a barrel level in the past week as Iran was expected to join other producers to freeze its oil output. However, Iran wants to help its ailing economy, regardless of the oversupply.
Sports apparel Under Armour have surpassed Nike in athlete's endorsement. Many top athletes from NBA, NFL, tennis pro, professional golfers and others are now under contract with Under Armour.
A lawsuit filed on March 8 claimed that Sequoia Capital’s partner Michael Goguen has sexually, physically, and emotionally abused a woman for 12 years. Mr Goguen has been dismissed from the firm regarding the case and is seeking to file a cross complaint and prove he’s not guilty of the alleged crimes.
Through a surprise move, Bank of Japan has adopted negative interest rate aiming to force the banks in investment. Meanwhile, the negative economic outlook has compelled the commercial banks to squeeze their investment portfolios while diminishing the BOJ move. Analysts have forecast for unchanged monetary policy in Tuesday’s meeting while predicting for a major change in April.
George Osborne has over-shoot the borrowing forecast due to weak economic outlook and poor tax receipts. In order to achieve his self imposed goal, he has been left with only two options for his 2016 budget- cut public expenses or increase taxes. However, the UK chancellor has hinted opting for reducing public expenses while addressing the BBC’s Marr Show.
Global venture capital funding for financial technology companies hit $13.8 billion last year. The number is a double from previous year, indicating a serious impact of fintech to the financial services.
South Korean venture capital firms are eyeing overseas biotech industry to accelerate investment goals. At the sametime, tech startups in Korea also began to flourish.
