All the major European banks are either shrinking their businesses or just pulling out from the US market. Ignoring the market odd, RBC has strengthened its operations in the less competitive market and capable of getting enlisted among the ten largest US banks. Getting inspired, RBC plans for further strengthening its US investment arm.
Industry
Shares of African budget airline carrier Fastjet drops on profit warning
Fastjet has issued a profit warning once again owing to weak demand for flight journey. The company projects 2016 results to be below analysts' projection.
Vale Ties Up With Fortescue Possibly To Develop Mixed Blend Iron Ore Plant In China
Brazilian iron ore miner Vale and Australian miner Fortescue, both have reduced their debt burdens significantly through disposing less prospective assets. Under such situations, news for tying up with each other seems to be unusual. But analysts observe the move as highly strategic to cope up with the market situation.
Bank of Japan reportedly anticipates to reduce growth outlook
The Bank of Japan is reportedly anticipated to reduce its price and economic outlooks for the next fiscal years at a quarterly appraisal that is scheduled in April. The bank is trimming its growth outlook citing the failure of its previous stimulus pack.
Snapchat Projects For At Least Three Fold Revenue In 2016 Compared To Previous Year
Snapchat business is new, still evolving and advertiser interest is also experimental. But the app service provider has recorded revenue of $100 million during October last year. The company has set goal for up to $350 million revenue during the current year.
Latest News
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
Malaysian palm inventories dropped to an 11-month low during February as poor weather spoils crop harvest. Palm production fell 3.5% to 1.09 million tons, the lowest since the period 2011 January.
Salesforce's Chief Executive Officer (CEO) Marc Benioff is witnessing a major shift in global business software segment. He said the enterprise software space is moving towards more smarter and more predictive software.
China is targeting seven percent gross domestic product (GDP) growth rate for 2016. The Chinese government is keen on real growth prospects over restructuring exercise this year, while avoiding inflating debt or asset bubbles.
Giant South Africa-based international banking group Old Mutual has stated that they are considering all options as a result of a strategic review. Many believe that the group is planning to split itself into several business units.
PSE has been seeking comments and suggestions on its proposed law for transactions of DDS. The procured comments and suggestions will be evaluated while drafting the rule, aiming to reflect market demands. Comments and suggestions may be sent up to March 22.
Rob Mundy, a former stock research expert, has launched Research Tree, an online investment research platform designed for private investors. With this new achievement, Rob Mundy aims to create a better source of information for online investors.
Thomas Piquemal, chief financial officer of the French utility EDF has been rumored to resign over disagreement with company CEO. Due to decade low wholesale prices of electricity, the business has been forced to borrow billions of Euros for payment of dividends. Under such financial hardships, Piquemal has suggested to wait at least three years in finalizing the project plan.
Nigerian investment flow in the previous three years has declined as a result of economic slowdown in the country. Investors lost their confidence in Nigerian economy citing global oil slump.
