GM has been sued with more than 400 lawsuits over defective ignition switches, of which six have been chosen as bellwether cases. Just after settling the Yingling case last week, the automobile maker has own verdict of another suit in its Favor on Friday. The remaining two damage claims for casualties are expected to get ended by this year.
StanChart has reportedly been considering for disposing of risk weighted assets worth $4.4 billion in India, China, Indonesia and Malaysia. To be liquidated assets in India will worth around $1.4 billion following an internal classification of businesses with risk for default. The move is going to take place since the lender pares its balance sheet after booking record impairments.
Sluggish sales and the new regulatory bill in India's real estate sector have turned to be favorable for Godrej Properties which is now making heavy investments to cash in on available opportunities in an otherwise sluggish real estate market.
Palo Alto-based venture firm Accel has raised a new fund. The fund is targeting the next generation of entrepreneurs in Europe and Israel.
Tom Rutledge has met FCC chairman Tom Wheeler last week to talk the acquisition. As the merger has already been past its late March informal deadline for approval.
Alejandro Garcia Padilla, governor of the Puerto Rica’s central bank, Government Central Bank, has announced an executive order on Saturday. The order restricts withdrawal of funds except for the emergency services in a bid to avoid default in $423 debt repayment scheduled on May 1. Analysts have already warned that failure in debt repayment will definitely attract a default status for GDB.
Dartmouth College Professor Andrew Levin, former advisor to Janet Yellen made a proposal to reform the Fed. He also suggest the Fed to be reviewed by GAO annually.
Mexico will ship up to 500,000 metric tons of sugar to U.S. without any modification on the agreement being signed by the two nations on December 14. U.S. consumers prefer sweeteners from sugarcane over sweeteners manufactured from genetically modified beets.
China's oil giant reported a 67% drop in profit. PetroChina reported its worst profit in 15 years which brought liability to $162 billion.
Stoxx Europe 600 Index continued last week's gain. The index sets a new course for the first back-to-back advance in two weeks.
Google Fiber is now phasing out its free internet option in Kansas City. For existing customers, they may continue usign the service. For subscribers to take advantage of the free internet option, they have to pay an installation fee of $300.
In a battle with German's budget stores, Aldi and Lidl, Iceland introduces its food warehouse concept. The concept is an advancement of its old style format with cash-and-carry style.
Investments in Chinese tech companies had a 50% surge in the first quarter of 2016. Nevertheless, many of the investments were spent in the big startups.
Italy faces a €4.95 billion ($5.65 billion) bailout after bad loans in its banks accumulated to an alarming rate. The bank shares have lost close to half of its value in the last 12 months.
Due to extreme dry weather conditions, African farmers are seriously affected by their crops failure with little or no more money to replenish their lands or support their families. With the mobile drought insurance, farmers are protected from such harsh conditions by paying a small surcharge fee upon purchase of seeds and fertilizers registered with an insurance company.