Legal & Regulatory
Biggest Documents Leak in History Ties Vladimir Putin to $2 Billion Offshore Money Trail
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.
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.
GE Shrinks Finance Business, Appeals For Omitting SIFI Label
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.