The legal battle running for 13 years between hedge fund investor Paul Singer and Argentina is over as both the parties have reached to an agreement. Singer's Elliott Management will get $4.65 billion cash from the Argentina government as part of the deal.
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US Fed sees economic activity slowdown in some districts
According to a latest 'Beige Book' from US Federal Reserve, economic activity in some districts has been slowing down, while some recorded modest growth in labor market. The latest financial market crash also hit consumer spending severely in some areas.
Track 22 Plan will Implement McLaren’s £1 billion Expansion Program For Tripling Production by 2022
Intending the erase the image of lavish supercar maker, McLaren has introduced its 570 GT model. The auto manufacturer has pledged to continue producing cheaper cars for broadening its arena in the UK automobile market. The car maker has adopted an expansion strategy involving £1 billion fund aiming to triple the yearly production.
Google Autonomous Vehicle Involved in a Car Accident, The Company Aims to Refine Its Software
A Google’s autonomous vehicle was involved in an accident with a public transit bus last month. That was the first accident ever caused by the vehicle’s software, leading Google to state its responsibility as the company aims to refine the car’s software.
After American International Group, Metlife Sells Adviser Unit To MassMutual For $300 Million
The US Department of Labor has proposed a fiduciary rule which is believed to cause increase cost for brokerage business. The proposed rule is now being reviewed by the Office of Management and Budget. But fearing enactment of tougher rules, Metlife has announced on Monday selling its US adviser unit to MassMutual for $300 million.
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Lamborghini is celebrating its founder’s 100th birth anniversary. To mark the day, the lavish car maker has unveiled a new Lamborghini Centanario supercar equipped with its signature V-12 engine. All the 40 production edition of the model has already been sold out which are scheduled to be manufactured within 2017.
Porsche is constructing its residency tower with hydraulic lifts that could transport residents’ cars to the garage next to their units. The garages will have floor-to-ceiling windows right outside the living room, where car enthusiasts can keep and enjoy their cars in the luxury personal garage while enjoying the buildings post amenities.
Spain-based Caixabank is planning to buy the stake of Isabel Dos Santos in Portugal's Banco BPI SA. The negotiations over the acquisition are still going on and may be completed soon.
The world's second largest economy will lower threshold for foreign investments in 2016. The Commerce Ministry of China has confirmed that the government is in the process of lowering the limit on foreign investment for 2016 year. China recorded 6.4 percent growth in foreign direct investment during 2015.
Canada-based Bank of Nova Scotia witnessed a strong profit surge as banking activity in domestic and international operations rose. Scotiabank has increased provision for bad loans in the oil and gas sector. The bank is expanding in Mexico, Chile, Columbia and Peru.
The Dell's acquisition of EMC Corp for $59 billion is going ahead as per the schedule. EMC shareholders are expected to vote on the deal in May. Dell's Michael Dell said in a memo that the deal would be completed according to the stipulated schedule.
Florida Institute of Technology (FIT) have developed a new type of astronomical camera that can spot faint reflections of distant worlds near bright stars millions of times better than that possible with an ordinary telescope.
Global investment in the clean energy sector has been increasing year by year. However, Canada’s clean energy investment has been plunged by 46% in 2015 compared to the previous year. Canadian government has been urged by the Clean Energy advocates to adopt more investment friendly policies to patronize the sector.
B.C. clean-tech companies have requested Prime Minister Justin Trudeau to allocate a $500 million venture capital (VC) fund. An alliance comprising 51 clean-tech and investment firms from B.C. province has written a letter to the Prime Minister Trudeau to extend support to clean-tech industry.
