Pfizer and Allergan will have to scrap the merger deal following the new regulation from Treasury Department to stop the U.S. company moving overseas.
United States
Asian shares, oil, bonds move up ending bruising week
Oil price, Asian stocks and bond yields were trading marginally higher on Friday ending the week on positive mode. Japanese currency Yen continued to rise against US dollar and this also further aided Asian stocks.
Argentina to push $12.5bln bond offer in US, UK
Argentina government will market its $12.5-billion bond offer in North America by organizing road shows in New York, Washington and Los Angeles. The $12.5-bln bond offer will be marketed in the US and the UK.
JPMorgan advises investors to vote against the splitting proposal
JPMorgan Chase has advised its shareholders to vote against the proposal to split up the bank. The bank warned its shareholders that the breakup proposal will not benefit its investors.
Gap's March sales fall hurt by high inventory levels
Gap Inc reported its sales results for the month of March. The retailer saw a decline in March sales, which pushed the shares down around 10%.
Latest News
Plunge of indexes brings the market to negative territory. Financial sectors led the plunge over fear of global financial slowdown.
Stocks in airline sector are regaining investors' confidence as crude prices continue to decline. Aviation shares like SpiceJet, Jet Airways, and Interglobe Aviation increased 3% to 6% on Wednesday trading session .
CEOs salaries nationwide in U.S. has shown a declining trend in 2015, the biggest drop since the financial crisis. Some factors including the decrease in pension gains contributed to the decreasing in CEO pay.
Fiat Chrysler is announcing a 1,300 job cuts as a result of the company’s decision to focus on producing light trucks and SUVs. American automakers are reportedly struggling to make money on other car models, such as sedan recently.
Tracking sell-off on Wall Street, Asian markets turned weaker. Renewed growth concerns and effectiveness of central bank policy have worsened the investor sentiment.
Monsanto reported a 25% drop in its quarterly earnings as farmers try to reduce their expenditure. The company updated its earnings guidance for 2016.
After started rolling in 2013, Flywheel, a blog management service providing startup has raised $1.2 million seed fund around one and half year ago. Now, the startup has raised another $4 million Series A fund for its expansion efforts from a round of investors led by Five Elms Capital. The Omaha startup now serves 40,000 clients and intends to grow further with the aid of newly raised fund.
Bharat Forge's stock is likely to derate further in the wake of continuous fall in US truck orders. The US class 8 truck order inflows declined 36 percent in March 2016, putting more pressure on earnings.
International Monetary Fund (IMF) has warned that slower growth rates among emerging markets are causing cash outflows and could cause another bout of crisis. Narrowing differential in growth prospects between advanced and emerging economies may add to the crisis situation again.
