The service sector of Britain posted a 2.8% growth in January, accounting for roughly 80% of the nation's economy. The country's GDP increased by 0.6% during the fourth quarter of 2015.
Sectors
Smaller airlines upbeat on Virgin America acquisition
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.
Guosen Securities denies bond default
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.
"Chariot for Women", The Uber Ride-Hailing Service for Females
Chariot for Women is a ride-hailing service where both drivers and passengers are women. The startup is behind Michael Pelletz's idea whose concern is for the safety of female drivers and passengers. The service will be launced in Boston on April 19.
SunEdison to File Chapter 11, Probed By SEC
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.
Latest News
People and business leaders protested State of North Carolina that restrict protection on LGBT people. The state's law was signed Wednesday by Governor Pat McCrory.
Microsoft started to ship the Development Editions kit for HoloLens on Wednesday. With its augmented reality device, the company offered a new perspective in virtual reality realm.
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.
Meketa Investment Group has increased its employee ownership team. It has included seven new shareholders into employee ownership team. Meketa is optimistic on adding new expertise and talent that supports its business expansion plan across different geographies.
The world's second largest economy showed positive signs as resurgent sales in the real estate sector boosted growth during March. However, China recorded drop in exports and freight segments.
McDonald’s is planning to extend its fast food empire to Asia by opening additional restaurants in Hong Kong, South Korea and China. It is also seeking strategic partnership in Japan and Taiwan.
Saratoga Investment Corporation increased its dividend by 2.5%. The company on Tuesday declared a quarterly dividend of $0.41 per share.
Mashable announced on Thursday to receive a new round of investment. The Series C funding was led by Turner Broadcasting.
ICICI Bank, India's largest private sector lender, has deferred its sale plan on home finance division. ICICI Bank has put its home finance division's valuation at INR 2,400 crore, while potential private equity (PE) buyers have asked for a 20 percent discount on valuation.
