The Swiss bank which posted first full-year loss last year must take a drastic measure. It has to make another retreat in investment banking.
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French Government Offers a Site for Tesla to Build Its European Factory
French government offered an old nuclear plant site for Tesla to build its electric car manufacturing facility. The plant site is shutting down and Tesla’s existence could help support local residents with jobs.
15% drop in Yahoo revenues predicted for 2016
Yahoo Inc’s revenues may drop by 15 percent for 2016 year, while earnings are also predicted to tumble 20 percent. The global internet company is expected to slash jobs by 1,500 to 9,000 in 2016.
Goldman Sachs-backed CompareAsiaGroup gets new CEO Sam Allen
Goldman Sachs-backed consumer finance startup CompareAsiaGroup got its new CEO Sam Allen. In 2015, CompareAsiaGroup closed a Series A round of funding led by Goldman Sachs and is planning to go for a Series B round funding soon.
Investment Banking Fees fall 29% in Q1
Fees in investment banking sector across the world declined 29% during the first three-month period of 2016 as uncertainty in the global market halted deal proposing activities and other investment events.
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The demand for the US industrial products declined in February, signalling an additional slowdown in the country's economic growth. Fresh orders for the US industrial products dropped 1.7% in February, compared to an increase of 1.2% in January.
Starbucks is about to open its biggest coffee restaurant in 2018 and will be known as Starbucks Reserve Roastery and Tasting Room which will be housed by the 170,000 square foot building developed by Aurora Capital Associates and Vornado Realty Trust. It would be the biggest Starbucks coffee shop in the world where customers also get educated about the process how coffees are roasted and brewed from all over the world.
Nielsen Holdings has entered into an agreement with DISH Network to enhance its business service to the global standard. Nielsen plans to license set-top box data from DISH.
The Reserve Bank of India (RBI), India's central bank, has reduced repo rate by 25 basis points to 6.50 percent, indicating an over five-year low. After the rate cut, home loans will be cheaper by half a percentage.
Alaska Air announced to acquire Virgin America on Monday. The acquisition will be another consolidation in American airline industry.
The Panama Papers documents leak suggest that Ukrainian President Petro Poroshenko might be using an offshore company to evade tax. However, the president has denied such accusations, saying that he has not been managing the assets since he became president in 2014.
Following a deal with UAW, the union members are enjoying jobs in Ford’s Wayne plant sacrificing small-car plant in Mexico. Applying the loophole in negotiation terms, Ford announces another $1.6 billion production plant in Mexico in addition to previously declared $2.5 billion plant. Ford’s tricky stance has irked the UAW and the union members have demonstrated protest against the automaker’s decision.
Ntel is seeking $1 billion loan investment for its 4G mobile broadband expansion for 2020 to take advantage of the increasing number of smartphone users in Africa. It will start its 4G LTE service to Abuja and Lagos by April 8 competing with other Nigerian four company internet and broadband providers.
SunEdison has been passing through acute cash crunch while embattling with lawsuits. Though the lawsuits have been filed recently and remain pending for adjudication, the variety of claimants has attracted analysts’ attention. However, the event has been analyzed as instance of tilting confidence among the creditors as well as investors.
