GE will sell its U.S. hotel franchise for $1.4 billion and its other business that finances Canadian hospitality and restaurant industries, separately. The completion of the transaction is expected to close by the second quarter of this year.
Industry
Tata Steel to Sell Its British Operation
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 Reshuffled Its North American Management
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 confirms talks with Bank of Greece over partnership
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.
Investments in Scottish commercial property up 33%
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.
Latest News
Employees in India will earn interest on inoperative accounts from new financial year beginning from April 2016. Employees' Provident Fund Organization (EPFO) has taken a decision to offer benefit of accrual of interest on inoperative accounts.
Music streaming company Spotify raises $ 1 billion deal through financing in the form of convertible debt. TPG rounded the funds together with Dragoneer along with other institutional investors. The deal placed by Goldman Sachs is expected to close on April 2.
Boeing will reduce its workforce as part of the company’s cost-cutting and reorganization effort. Although it surpassed order forecast for last year, it was offset by a huge drop in new orders. Clients would not want to wait for several years before their orders get delivered.
The report released by Needham & Company, an investment bank and asset management company, showed that bitcoin has been undervalued by more than $200, nearly 58% based on the current price.
Economic activity in Mexico increased 2.9% during January 2016 from the corresponding period in 2015. The rise in economic activity was due to a robust performance by three sectors in the country.
In the annual Boao Forum for Asia (BFA) last Thursday, Premier Li Keqiang deliver keynote speech. He pledged the government will refrain to intervene in economic and market.
Rosneft, the Russia-based oil firm, has promised to make investments of roughly EUR 13 billion annually through 2018, which is an increase of 30% for the year 2016.
Indian finance ministry has issued a new set of guidelines for regulating the online market places. The guidelines also include definition of ‘ecommerce’, ‘inventory based model’ and ‘market place model’ to bring clarity in this sector. However, clarity in segmentation of ecommerce business has been applauded by the analysts.
New Zealand home buyers have the new option for home loan. On Tuesday Crown Finance Limited launched its Freedom Home Loans.
