The social media site, Twitter has disclosed for the first time removal of more than 125,000 accounts on allegation of aiding terrorism. ISIS has been using Twitter and other social media sites as platforms for spreading their ideologies and recruiting new members. Facebook is also adopting special measures in this regard due to growing concerns over poor policing by the sites against terrorism.
Regions
After robust phase, venture capital heads to pre-recession level
Venture capital (VC) funding activity seems to be heading towards pre-recessionary mark. The VC activity recorded robust growth phase for over seven years. The sluggish financial markets are discouraging VC funding and raising money.
Mexico gets $400-mln loan from WB for rural development
Mexico is receiving $400-loan from World Bank for rural development and will formally sign an agreement. Mexican government will utilize the funds for extending financial lending to farmers and fishermen in rural areas. The small and medium enterprises (SMEs) will also get financial support from the Mexico's national agricultural financing agency FND.
Nasty Gal to trim headcount by 10%
The Los Angeles-based fashion retailer Nasty Gal is reducing the number of employees by 10 percent as part of its strategic restructuring. The increasing market competition and uncertainty in financing aspects are forcing the company to reduce the costs. Several former employees moved court against Nasty Gal against layoffs.
Citigroup Bans Financial Transactions of DFS Sites In New York While Some US States Observe ‘The Game of Skill’ As Legal
Terming the daily fantasy sports as illegal gambling, the New York Attorney General has filed a lawsuit against DraftKings and FanDuel. While the lawsuit proceeds in its own pace, banking giant Citigroup has imposed a ban on transactions to the DFS sites by the New Yorkers. Some US states express reluctance while some declare the sites as legal.
Latest News
Tax identity theft to conduct further fraudulence in claiming fake tax returns. Many identity thefts related fraud claims have been detected in 2015. The fraud efforts have prompted IRS to reshape fraud prevention measures. Though the new measures are invisible to taxpayers, but they too feel the unprecedented cooperation from IRS.
The UK Green Investment Bank Financial Services ties up with world’s largest asset manager BlackRock to purchase GLID Wind Farms. The farms located in Aberdeenshire, Scotland and Lincolnshire are capable of producing 220 MW clean powers. With the acquisition, GIBF will produce 3,970 GWh of clean power each year. Meanwhile, BlackRock will own and manage 66 wind and solar projects in Europe and North America on behalf of its clients.
Reorient Group Ltd. has reportedly formed a $3 billion yuan ($457 million) joint venture with partners. The Shanghai based proposed Joint Venture (JV) firm, Yunfeng Securities Co., will have a registered capital of 1 billion yuan. The JV entity will go operative subject to receipt of approval from China Securities Regulatory Commission.
The increasing output in Brazil and falling prices are posing a major challenge to African coffee producers. Coffee exports revenues are a major source of income for several African nations. The coffee production in Brazil is forecast to reach 52 million of bags in 2016 from 43.2 million bags in 2015.
The east African nation Ethiopia is poised to grow at 8.1 percent in 2016 from 8.7 percent growth in 2015. This makes Ethiopia a fastest growing nation in the world. The government spending on infrastructure projects is mainly driving the economy growth.
Malysia has been witnessed to rock heavily centering 1MDB scandal. Both Malaysian currency and stock have been nose-dived over the past year and capital outflow taken place more frequently. The existing economic turmoil has led Moody’s to change Malaysia’s economic outlook from positive to stable citing 1MDB related economic turmoil as the reason.
President Barack Obama said he would ask Congress for about $450 million in funding to help Colombia to reach an economic stability and peace in the country. Besides that the 'Plan Colombia' policy will also be changed to 'Peace Colombia' policy from now on.
Vivo, the trade name of Telefonica Brasil prepared a strategy in the worsening economy. The strategy is expected to increase sales and efficiency.
BEHL is going to purchase the leading German waste to energy recycler EEW for €1.44 Billion. The deal appears to be the largest ever Chinese direct investment in Germany. Following legal obligation, the transaction will be cleared under the German Foreign Trade and Payments Ordinance.
