The service sector of Britain posted a 2.8% growth in January, accounting for roughly 80% of the nation's economy. The country's GDP increased by 0.6% during the fourth quarter of 2015.
Industry
Guosen Securities denies bond default
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", The Uber Ride-Hailing Service for Females
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.
SunEdison Planning For Bankruptcy Filing, Negotiating With Creditors For Related Financing
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 to File Chapter 11, Probed By SEC
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.
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GE has slashed down assets of finance arm from $549 billion to $265 billion while cutting ties with rest of the financial system that led to attain the SIFI status. Now the conglomerate appeals for its declassification since it no longer possesses ability to exert risk for the US economy. However, an FSOC spokesman vows to exercise its legislative authority in protecting the country’s economy from potential threats.
Microsoft started to ship the Development Editions kit for HoloLens on Wednesday. With its augmented reality device, the company offered a new perspective in virtual reality realm.
Meketa Investment Group has increased its employee ownership team. It has included seven new shareholders into employee ownership team. Meketa is optimistic on adding new expertise and talent that supports its business expansion plan across different geographies.
The world's second largest economy showed positive signs as resurgent sales in the real estate sector boosted growth during March. However, China recorded drop in exports and freight segments.
McDonald’s is planning to extend its fast food empire to Asia by opening additional restaurants in Hong Kong, South Korea and China. It is also seeking strategic partnership in Japan and Taiwan.
Charles River Associates, CRA, the Boston based global consulting firm is specialized in litigation, regulatory, financial and management consulting. The firm is now expanding the finance practice through appointing James Massey as a vice president. Mr. Massey has 30 years’ experience in advising a wide range of companies covering S&P 500, private equity firms, hedge funds and so on.
Apple has launched on Wednesday a new Safari browser version, specially designed for the developers, Safari Technology Preview. It allows developers to experiment their own applications with the browser version with features like ECMAScript 6 and the B3 JavaScript JIT compiler. Apple has requested to share experience feedback to help in further developments of the browser.
Saratoga Investment Corporation increased its dividend by 2.5%. The company on Tuesday declared a quarterly dividend of $0.41 per share.
Mashable announced on Thursday to receive a new round of investment. The Series C funding was led by Turner Broadcasting.
