The history’s biggest confidential documents leak revealed Russian elites, mostly Mr Putin’s inner circles, as clients of an offshore law firm in Panama. The offshore money trail connected to Mr Putin’s allies is worth $2 billion.
Industry
Research firm Coalition lowers Deutsche Bank position in investment industry
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.
US does not plan to grant Iran access to US financial system
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.
‘Model 3’ Unveiling By Tesla Causes Soaring Its Stock By 60%
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 finance chiefs put hiring, investment plans on hold amid Brexit concerns
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.
Latest News
GSK Got Positive Recommendation for Its Gene Therapy for Bubble Boy Disease, Expecting Approval Soon
A gene therapy for Bubble Boy Disease has received positive evaluation from European regulatory panel, paving a way for official approval. Currently, there’s no gene therapy for the disease, and the therapy would enhance patient’s success in survival and even recovery.
Volkswagen will start recalling 91,000 of its Passat 2012-2014 models in the U.S. over problems with the vehicle’s connector that could cause overheating and electrical short. The automaker is lately being clouded by scandals regarding emission and its vehicles.
American movie studios are getting closer to Chinese firms as sources of funding. Dick Cook Studios has just secured $500 million in production deal with China’s Film Carnival. The studio is working on the first film under the deal.
The Taliban-developed app was called Alemarah that enables viewing and reading in Pashto. It was deleted from Google’s Play Store within a short time after a report from SITE Intel Group. The app was available in five different languages including Arabic and English.
China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.
Chariot for Women is a ride-hailing service where both drivers and passengers are women. The startup is behind Michael Pelletz's idea whose concern is for the safety of female drivers and passengers. The service will be launced in Boston on April 19.
Besides suffering from acute cash crunch SunEdison has been facing scrutiny from regulators over failed Vivint deal and other issues. Huge debt burden has led the renewable energy giant to consider for seeking bankruptcy protection and is holding negotiations for related financing. The news has caused slashing share prices by around 50% during after hours trading on Friday.
SunEdison is about to file bankruptcy protection to safeguard itself from creditors while trying to recover from its losses while it continues to operate. At the same time it is being investigated by the Securities and Exchange Commission over possible overstating.
BayWa has partnered with Spruce Finance to provide finance products for its solar distribution clients in the US. With regard to this partnership, dealers across the US will have access to loan products from Spruce Finance.
