Saudi Arabia just got a negative rating from Fitch, from AA to AA-. The downgrade is due to the oil-rich kingdom's decision to slash its average oil price assumptions from $35 to $45 a barrel for 2016 and 2017.
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Microsoft Became The First Major U.S. Tech Company to Endorse Privacy Protection Pact With the EU
Microsoft has became the first major U.S. tech company to endorse the Privacy Shield agreement between EU and the U.S. The company agreed to discuss the framework of data protection further with the EU officials soon.
Food Delivery Service Deliveroo Launches in Brisbane as Its Third Australian City After Success in Melbourne and Sydney
Global food delivery service Deliveroo is expanding further in Australia and will soon launch in Brisbane as its third city the country. The expansion came after experiencing a sustained growth in its first two cities since it launched in Australia on November last year.
General Motors Wins Fourth Bellwether Lawsuit, Two More Awaits For Disposal
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.
Salesforce chief freezes pay following investors’ complaints
The 2016 base pay for Marc Benioff, chief executive officer of Salesforce, will be similar to that of 2015, following investors' complaints regarding his huge pay package in 2015.
Latest News
The acquisition of Greybull Capital of Tata Steel's UK long product business will save thousands of jobs and was accepted by the steelworkers after two years of uncertainty.
Dell is mulling over an initial public offer (IPO) for its recently acquired SecureWorks. Dell is also planning to spin off SecureWorks after the IPO which is expected to enhance the valuation of SecureWorks from $154.9 million $1.4 billion.
Now that the nuclear sanctions are lifted, Iran is now free to make deals with foreign companies. It is already in talks with Boeing for possible aircraft purchase and services particularly 737 single-aisle jets and 777 long-range planes.
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.
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.
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.
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.
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.
