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.
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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.
Dick Cook Studios Secured $500 Million Production Funding from Chinese Movie Company Film Carnival
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.
Google Deleted Taliban-Developed App From Play Store
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.
Smaller airlines upbeat on Virgin America acquisition
Virgin America, Billionaire Richard Branson's small carrier, is on the block and this is attracting other smaller airlines to bid for it. Airlines in the US are making more profits owing to cheaper oil prices. Acquisition route is ideal for smaller airlines to expand further.
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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.
The US has halted all sorts of cooperation to Nigeria on the allegation of human rights abuse and corruption by Nigerian army during the regime of Goodluck Jonathan. But under the leadership of President Muhammadu Buhari, the encouraged US has vowed for extending economic and security support forming working groups. John Kerry, the US Secretary of State has also announced $600 development assistance for Nigeria.
‘Lipper Fund Awards’ recognizes outstanding fund managers extracted through a proprietary quantitative methodology. This year, Vladimir “Val” de Vassal, CFA, fund manager for Glenmede Large Cap Growth Fund, has won the award. Peter Zuleba, president of Glenmede Investment Management expresses his pride for Mr. Vassal and his team’s achievement for excellence in fund management.
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.
Members of The Hundred Group are being surveyed over their planning centering the referendum poll on Brexit. The group members are the finance directors of Britain’s largest listed as well as private companies. The survey appears following difficult past experiences in cases of other membership based business organizations prior to the referendum.
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.
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.
