Thomas Piquemal, chief financial officer of the French utility EDF has been rumored to resign over disagreement with company CEO. Due to decade low wholesale prices of electricity, the business has been forced to borrow billions of Euros for payment of dividends. Under such financial hardships, Piquemal has suggested to wait at least three years in finalizing the project plan.
Regions
Visium Asset Management facing US regulatory probe
New York-based hedge fund Visium Asset Management is facing probe by the US Securities Exchange Commission (SEC) and Justice Department over its trading and valuation issues. Visium's exposure to healthcare sector is under scanner.
Royal Bank of Canada Eyes Bolder Appearance In The US Investment Banking Market
All the major European banks are either shrinking their businesses or just pulling out from the US market. Ignoring the market odd, RBC has strengthened its operations in the less competitive market and capable of getting enlisted among the ten largest US banks. Getting inspired, RBC plans for further strengthening its US investment arm.
Australia adjusting from mining-led economy
Australian economy was picking up pace during the fourth quarter. The commodity-based economy witnessed an annualized growth rate of three percent, fastest in two years, as against the forecast of 2.5 percent.
Salesforce CEO Marc Benioff sees major shift in business software
Salesforce's Chief Executive Officer (CEO) Marc Benioff is witnessing a major shift in global business software segment. He said the enterprise software space is moving towards more smarter and more predictive software.
Latest News
The acquisition will create a second largest investment bank in Egypt. Sawiris acquired CI Capital Holding with its investment arm, Orascom Telecom Media and Technology.
Israeli fintech hub initiative is receiving $2 million investments from Chinese venture capital firm Pando Group. The partnership is expected to build the bridge between Israel companies and the Asian markets.
Debates in favor of and against Brexit continuing in the UK and also in the EU member countries. Except the world’s fifth largest economy, both EU and Britain, are believed to get weakened in exerting influence over global issues.
The former European football giant in the 1990's are facing a financial strain. After a huge financial loss, AC Milan badly needs new investment.
Ending a sanction on Iranian oil export, The Monte Toledo, an oil tanker appears as the first to deliver crude oil in Europe since mid-2012. Iran’s oil export during February falls short from its earlier announcement for adding 500,000 barrels per day to the global oil market. However, industry insiders presume for Iranian oil exports in larger volume to Europe and Asia during the current month.
A new Disney animation film Zootopia sets its debut in American and Canadian theater this weekend. Its debut exceeded Frozen and sets a new record, booking $73.7 million.
Islamic Finance is catching up among non-Islamic markets also. Economists and finance experts say that Islamic Finance is the need of the hour for the global economy in the wake of sluggish markets and looming uncertainty. Islamic finance assets globally are expected to be $1.8 trillion by 2020.
John Longworth, director general of British Chambers of Commerce (BCC) announced his resignation on Sunday. He was suspended before for publicly showing his support of Britain to exit European Union.
GasBuddy has been introduced today in Australia where it runs in the US since 2004. GasBuddy users just need to submit their seen petrol prices at gas station and they will have the chance to win $100 voucher worth of free gas in the daily draw. The app is free and is accessible through Android and iOS smartphones.
