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.
Industry
Societe Generale SA to Cut 128 Jobs in Its Global Banking Division
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.
Investment in South Africa might provoke additional risk
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.
Venture capital inflows into Indian Start-ups drop by 35%
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.
Qatar-owned Italian Fashion House Valentino Offers 500 Million Euros to Acquire France’s Balmain
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.
Latest News
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.
Xiaomi’s partnership with India’s Hungama will make it easier, more accessible and more affordable for locals to access the company’s service that will soon be integrated together with themes and ringtones.
This Friday SpaceX is ready to launch Falcon 9 rocket carrying cargo for International Space Station. NASA has also anticipated to use SpaceX and Boeing to launch astronauts by the end of 2017.
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.
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.
