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.
Industry
Nigeria's Ntel Seeks $1 Billion Investment for 4G LTE Service Expansion
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.
US Treasury norms clamp merger plan of Pfizer for Allergan
The $160-billion merger plan of Pfizer Inc and Allergan Plc is heading towards termination owing to new measures announced by the US Treasury Department which has been taking measures to curb malpractices by US companies in tax evasion by merging with foreign firms.
Cyprus-based RCB rules out unsecured loans
Cyprus-based lender RCB has denied reports of extending unsecured loans. Latest British media reports turned spotlight on alleged role of RCB in providing unsecured loans to people close to Vladimir Putin, President of Russia. Cyprus Central Bank said it was probing into the issue.
Boeing Deals With Lift For Supply of Seats Off beating Zodiac and B/E Aerospace
Zodian and B/E Aerospace are the two leading global aircraft interior developer, but are in a practice for making delay in delivery. Annoyed Boeing has dealt with a new aircraft interior developer, Lift. Boeing expects that the Lift’s seats will offer its customers stability and reliability desired from the 737.
Latest News
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.
South Africa's economy, which was once considered a darling among foreign investors, have slumped over the previous 18-month period. Market experts view the current economic situation as a major risk factor for further investment in the country.
Start-ups in India have faced a sharp decline in venture capital investments during the first quarter of 2016. According to investors, this drawback appears to be a "new normal" since it shadows a series of funding turmoil in the past two years.
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.
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.
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.
