The second largest oil producer in Africa will start negotiate with IMF next week for a bailout program. Continuous drop of oil price hit Angola economy after years of prosperity from oil production.
Bill Ackman made nearly nearly $170 million in one day in a Valeant two-day rally. His comment on Valeant Pharmaceutical showed his capability as a remarkable hedge fund manager.
Goldman Sachs-backed consumer finance startup CompareAsiaGroup got its new CEO Sam Allen. In 2015, CompareAsiaGroup closed a Series A round of funding led by Goldman Sachs and is planning to go for a Series B round funding soon.
Advocacy groups heavily criticized the draft as it allows company to hide their activities. Meanwhile, Iceland Prime Minister has resigned following protest over Panama leaks.
Societe Generale said that it stood by all the rules of its operating nations. The bank confirmed that it no longer detained any establishments in the process in the Non-Cooperative Countries and Territories.
Fees in investment banking sector across the world declined 29% during the first three-month period of 2016 as uncertainty in the global market halted deal proposing activities and other investment events.
FMA of Austria will investigate Raiffeisen Bank International and Hypo Landesbank Vorarlberg. The Austrian banks were named in Panama Papers in helping money laundering scheme.
The Swiss bank which posted first full-year loss last year must take a drastic measure. It has to make another retreat in investment banking.
Oslo-based pension and insurance provider KLP beat benchmark in 5 of 7 years. The portfolio strategy to bet on stocks with low volatility is proven to be successful.
After a series of setbacks, UK's Serious Fraud Office will start the third trial on Libor rigging case. Five former bankers in Barclays will stand accused as conspirators.
The third largest bank in France will continue its cost cutting plan. Through the year 2020 the bank will cut 550 jobs in its retail operation.
Deutsche Bank has missed its ranking as a top three investment bank in the world. The weak EURO as well as the bank's restructuring approach pushed it to the fifth place in the investment sector.
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 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.
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.