George Osborne has over-shoot the borrowing forecast due to weak economic outlook and poor tax receipts. In order to achieve his self imposed goal, he has been left with only two options for his 2016 budget- cut public expenses or increase taxes. However, the UK chancellor has hinted opting for reducing public expenses while addressing the BBC’s Marr Show.

Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.

Scottish First Prime Minister Nicola Sturgeon said in an interview that the country’s economy remains strong even amid challenges that she acknowledges. She expects that the huge deficit would be manageable after separation.

Silicon Valley Bank report shows 59% of UK start-up heads chose to be acquired rather than seek IPOs. Many UK executives consider hiring labours to be more challenging than other business issues.

Diagio Plc, British liquor major, says it paid $40 million to trouble-ridden Indian businessman Vijay Mallya. This comes close on the heels of an order by Debt Recovery Tribunal (DRT) not to pay Mallya any amount.

Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.

E.ON incurred losses has doubled in 2015 and forecasts for a gloomy 2016 due to historic low energy tariff and transformation of Germany towards renewables. Tremendous growth in the subsidized sector has forced the conventional energy firms to squeeze their businesses. Following the industry trend, E.ON has also planned for transformation focusing on renewables.

Nasdaq will acquire International Securities Exchange (ISE) for $1.1 billion from Germany's Deutsche Börse. The acquisition transaction is expected to close by end of 2016 year.

Chancellor of the Exchequer George Osborne face a hurdle in fulfilling his last year's ambition. In to eliminate budget deficit. Brexit issue and economic slowdown has decimated his plan.

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.