The $160-billion merger plan of Pfizer Inc and Allergan Plc is heading towards termination owing to new measures announced by the US Treasury Department which has been taking measures to curb malpractices by US companies in tax evasion by merging with foreign firms.
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Nielsen teams with DISH Network to improve its rating service
Nielsen Holdings has entered into an agreement with DISH Network to enhance its business service to the global standard. Nielsen plans to license set-top box data from DISH.
Russian Output Reached 30-Year High Ahead of Meeting with Oil Producing Countries
Russia produced 10.91 million barrels per day in March. This recorded as the highest in 30 years and raising the doubt on the production freeze.
Tesla Missed Q1 Deliveries Target Due To Parts Shortages of Model X
Tesla announced parts shortage as the factor that caused the company to miss its initial sales target for the first quarter of 2016. The company, however, retains its guideline for the full year as it already solved the root of the problem accordingly.
Home loans turn cheaper as India's RBI cuts rate to 5-year low
The Reserve Bank of India (RBI), India's central bank, has reduced repo rate by 25 basis points to 6.50 percent, indicating an over five-year low. After the rate cut, home loans will be cheaper by half a percentage.
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Oslo-based pension and insurance provider KLP beat benchmark in 5 of 7 years. The portfolio strategy to bet on stocks with low volatility is proven to be successful.
Cyprus-based lender RCB has denied reports of extending unsecured loans. Latest British media reports turned spotlight on alleged role of RCB in providing unsecured loans to people close to Vladimir Putin, President of Russia. Cyprus Central Bank said it was probing into the issue.
After a series of setbacks, UK's Serious Fraud Office will start the third trial on Libor rigging case. Five former bankers in Barclays will stand accused as conspirators.
The third largest bank in France will continue its cost cutting plan. Through the year 2020 the bank will cut 550 jobs in its retail operation.
Valentino has made an offer to acquire French fashion house Balmain for 500 million euros. Balmain’s heirs has decided to find a new owner after the fashion house’s former chairman and majority owner, Alain Hivelin, passed away in 2014.
United Airlines and the labor union both agreed on a 30% wage hike that will envelop the next five years. The agreement will benefit about 30,000 union employees that includes airport workers.
Deutsche Bank has missed its ranking as a top three investment bank in the world. The weak EURO as well as the bank's restructuring approach pushed it to the fifth place in the investment sector.
The US government doesn't seem be in favor of giving total access to Iran on its financial system. US President Barack Obama said the government is not looking to permit the use of its financial system in dollar-denominated deals with Iran.
UK's financial chiefs are concerned about impact of Brexit, postponing their key decisions on hiring and investments. The British industry and business segments are in wait and watch mode until referendum on Brexit in June 2016.
