U.S. Bankruptcy Court of the Southern District of New York on Tuesday ended the liquidation proceeding of the MF Global. Judge Martin Glenn ruled to close the estate of the defunct brokerage and repay the customers $1.8 billion .
As Credit Suisse booked its first full-year loss since 2008 on Thursday, CEO Tidjane Thiam asked his bonus to be reduced. The financial group reported a worse than expected net loss in 2015.
Reeling under pressure, the hedge fund segment is facing talent crunch to render its services more qualitatively. Considering the need of the hour, billionaire Steve Cohen-owned hedge fund Point72 Asset Management is investing in grooming the talent pool. It's offering two programs to train young graduates.
The Russian Central Bank revoked license for banking for two banks, the Interkommerzbank and Alta Bank. The license revoke is part of the tougher regulation set by the Russian government to help strengthen the country's economy.
As per the federal agreement, HSBC has agreed to pay $470 million to provide relief to abused mortgage loan borrowers. The payment will be directed towards mainly Virginia, along with 48 other states. The bank, accused of malpractices like robosigning and bad loan designs, will now be monitored by an independent body to ensure it adheres to the revised banking standards and settlement terms.
Mexico is receiving $400-loan from World Bank for rural development and will formally sign an agreement. Mexican government will utilize the funds for extending financial lending to farmers and fishermen in rural areas. The small and medium enterprises (SMEs) will also get financial support from the Mexico's national agricultural financing agency FND.
The Dutch banking major ING Groep's revenues for the fourth quarter were above the analysts' forecasts. ING's exposure to the oil companies is putting pressure on its stock, which suffered 20 percent drop. However, ING is also receiving indirect benefits from lower oil prices.
Wal-Mart Will Soon Operate Its Own Gas Station in order to gain more profits. The company will leave Murphy USA Inc., which has become its gas stations operators for 20 years. However, Murphy will still continue its existing gas stations.
According to PwC and NVCA report, Charlottesville has been the fastest growing startup since 2010. Between 2010-2015, venture-backed startups increased 55% annually in the place where Thomas Jefferson's house is located.
S&P rating service on Tuesday downgraded Sprint credit to B, citing a challenging environment for the wireless industry. Morningstar and Moody have also demoted Spring credit rating.
Woodford Investment Management and Allied Minds lead the funding to raise a $22 million for Federated Wireless on Monday. The company will develop a high-quality wireless capacity for Wi-Fi and wireless networks.
Stocks dipped to session lows on Tuesday. Shares of oil companies plunged as crude oil continued to slide. Three of major indexes also fell.
Palestinian-American entrepreneur Zahi Khouri teamed up with Palestinian investors to build a Coca-Cola manufacturing plant in the Gaza Strip. This new factory would provide direct jobs for 250 people and indirectly support 1,000 local families. This move is one of the first and most significant economic development in Gaza after the end of the war in 2014.
Venture capital and private equity that sprung from California Bay Area in 1960's has been a global phenomenon. A Canadian reseach institute publish a report about venture capital investment in tech startups around the world.
With a growing number of venture capital firms providing fund and startup companies looking for funding, there are many opportunities for each other to matchup. Here are some tips for venture capitalism from the experts.
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- Once Most Underachieving CEO Meg Whitman’s Pay Package Slashed By 13% In 2015
- Customers of MF Global Will Receive $1.8 Billion In Liquidation Case
- Steve Cohen's hedge fund investing in trading talent
- Carl Icahn lost $90 million in his portfolio
- Eyeriss: MIT Introduced Chip Capable of Deep Learning Using AI Technology
- Nestle to acquire food-maker Osem Investments for $840 million
- Charlottesville Is The Fastest Growing Venture Capital City in the U.S.
- CEO Reggie Aggarwal narrates success journey of Cvent