Commercial banks in northern Europe criticized ECB for its four-year cheap loan policy and stimulus program. The policy was aimed to stimulate growth for banks that struggle in southern part of Europe.
Sectors
SEC slaps fine on AIG units over higher charges
US Securities and Exchange Commission (SEC) has slapped penalties on AIG's three affiliates for steering customers to high-fee products. AIG is also offloading its brokerage unit owing to stringent norms. AIG has agreed to pay $9.5 million for settling the regulator's claims.
Liverpool FC CEO Ian Ayre to Step Down May 2017, Despite Owners' Persuasion to Stay
Liverpool FC's Ian Ayre is to step down as CEO after his current contract ends next year. The club’s owner has been trying to convince him to stay, but without success.
New Jersey Will Vote to Decide Casino Expansion in Northern Part of the State
Voters will decide whether to approve the expansion of casino in New Jersey beyond Atlantic City. A referendum will be held in November as state's legislature approved the ballot plan on Monday.
Under Armour CEO Gives Advice to Silicon Valley Startups to Start Making Money
Founder and CEO of Under Armour Kevin Plank shared his success in building Under Armour into billion dollar company in SXSW annual event on Tuesday. His recipe is simple: make profit.
Latest News
With an objective of not giving any such scope for price escalation as Martin Shkreli did for Daraprim generic drug, US Food and Drug Administration (US FDA) has turned very cautious on approvals to generic drugs. US FDA is now reviewing new applications for generic drugs, while ensuring no such lapses of price escalation.
The US dollar recorded a multi-year bull run and has still enough steam to gain 10 percent further this year. All eyes are on the two-day policy meeting of US Federal Reserve beginning from Tuesday as it will set the tone for US currency.
Sony will pay $750 million to the Michael Jackson estate for its share in the music catalog. Once the deal is closed, the estate will be no longer in debt.
The turbulent situation Japan's banking sector is likely to impact global markets. A leading hedge fund manager says that collapse in the Japan's banking industry blindsides the market, while shrugging off any possibility of banking crisis in the world's third largest economy.
New York-based Avon Products Inc is shifting its headquarters to the UK. It's also in the process of reducing headcount by about 2,500 and investing in technology and innovation to enhance sales volume.
It was agreed that Apollo Global Management is taking over Fresh Market Inc. Chairman and founder Ray Berry is not so pleased and is considering of making the company private where he and his son own 9.8% of shares. This would be Apollo's third largest acquisition that is worth more than a billion dollars.
Oil prices might have propelled above $40 a barrel level in the past week as Iran was expected to join other producers to freeze its oil output. However, Iran wants to help its ailing economy, regardless of the oversupply.
Sports apparel Under Armour have surpassed Nike in athlete's endorsement. Many top athletes from NBA, NFL, tennis pro, professional golfers and others are now under contract with Under Armour.
Global venture capital funding for financial technology companies hit $13.8 billion last year. The number is a double from previous year, indicating a serious impact of fintech to the financial services.
