AIG has announced in January planning for spinning off its mortgage insurer unit United Guaranty, following pressure from the shareholders. Following the announcement, Standard & Poor’s, a credit rating agency has downgraded its rating with specific reasoning. The mortgage insurer of AIG has disclosed through a regulatory filing that it intends to go for an initial public offering.
Industry
NIFA Acknowledges China Rapid Finance As Founder Member
China Rapid Finance has been acknowledged as the founder member of NIFA. The recognition will enable CRF to work for publishing rules and regulations in developing self-disciplined online lending marketplace in China. CRF expects the official release of such rules and regulations will exert positive impact and eventually confirm the industrial development .
ICTSI unveils new community investment fund
International Container Terminal Services' Australian arm, Victoria International Container Terminal Limited (VICT) has unveiled a new community investment fund program. The company invites domestic non-profit community institutions to apply for fund up to $20K.
Abu Dhabi's TAQA Slashes Capitex As Oil-Decline Limits Revenue
Abu Dhabi's TAQA is cutting its capital expenditures by reducing its workforce around the globe and sells it assets to recover from its losses.
Citigroup Study Report Suggests 30% Job Cuts In US Banking Industry By 2025
To tackle volatility in the US banking market, regulators are enacting new laws time to time directing to absorb new technologies. Adoption of automated technologies coupled with aggression by fintech startups. A recent Citigroup study predicts that US banking sector may witness 30% job cutts by 2025.
Latest News
Unity Technologies, a creator of gaming software, is reportedly in negotiations to raise funds, which could value Unity at $1.5 billion.
MetLife has announced in January planning for selling large portion of its US insurance unit. But the move has been suspended following imposition of designation as SIFI by FSOC. However, the FSOC move has been declared unlawful by a Washington court which paves the way for MetLife to go with its breakup planning.
Mexico will be rich in renewable energy as private energy companies flock to the state to provide them with electricity generated from clean energy to be sold to Comisión Federal de Electricidad. Italy’s Enel Green Energy won 3 projects and will build solar plants while others will provide energy from wind farm.
Tata Steel put its British business up for sale on Tuesday as the company faces continuous loss in its British operation. Thousands of jobs is at risk.
PepsiCo reorganize its North American operation. The company appointed Albert Carey CEO to oversee beverages, Frito-Lay and Quaker Foods divisions in North America, and two other executives.
Hoist Finance Publ AB has confirmed that negotiations are going on for strategic partnership with Bank of Greece. If fruitful, the strategic partnership may generate more opportunities in Greece economy through Hoist Finance.
Scotland commercial property recorded 33 percent growth rate in investments during the first quarter of 2016. Office buildings are adding value to Scottish property market. Over 40 percent of investments came from overseas investors.
The aggressive buying binge of SunEdison Inc has resulted in a total debt of $12 billion. The US-based clean-energy company may seek bankruptcy protection.
Actress and comedienne Whoopi Goldberg launches her new business venture with partner Maya Elisabeth, called ‘Whoopi & Maya’. The business is a product line of marijuana-infused products along with other medicinal plants that help alleviate symptoms of PMS. Product prices are not yet disclosed.
