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.

China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.

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.

SunEdison is about to file bankruptcy protection to safeguard itself from creditors while trying to recover from its losses while it continues to operate. At the same time it is being investigated by the Securities and Exchange Commission over possible overstating.

Frozen broccoli cuts have been recalled from 11 states that have been distributed with 1,800 cases which could be contaminated with Listeria monocytogenes. The infection affects young and old and can cause slight to severe infections with symptoms like high fever, abdominal pains and diarrhea to name a few aside from miscarriage and stillbirth.

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.

A unit of China's Guosen Securities in Hong Kong have defaulted on a dim sum bond. However, analysts doubted the default as the brokerage is in a strong cash balance.