Citigroup sets up new group for rich investors

Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.

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French Court Verdicts In Favor of Uber’s Geo-Localization Service

A European Union rule requires prior notification to itself in restricting social information service. The rule also bars targeting a specific service. A French court has overturned a government order on Uber’s geo-localization service citing the two grounds. The verdict appears as a victory for Uber while challenging through a flurry of appeals both in France and at the EU level.

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VW Group America CEO Michael Horn to step down

Michael Horn is stepping down as CEO of Volkswagen Group of America. Hinrich J. Woebcken will act as an interim CEO for Volkswagen Group of America from 1 April 2016 onwards.

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German Utility E.ON Incurred Losses Doubled In 2015, Mulling For Focusing On Renewables

E.ON incurred losses has doubled in 2015 and forecasts for a gloomy 2016 due to historic low energy tariff and transformation of Germany towards renewables. Tremendous growth in the subsidized sector has forced the conventional energy firms to squeeze their businesses. Following the industry trend, E.ON has also planned for transformation focusing on renewables.

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Nasdaq to acquire International Securities Exchange for $1.1bln

Nasdaq will acquire International Securities Exchange (ISE) for $1.1 billion from Germany's Deutsche Börse. The acquisition transaction is expected to close by end of 2016 year.

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Audi rolls out new monster diesel SUV 'SQ7 TDI'

Audi has come out with a high performance diesel prototype sports utility vehicle (SUV) 'SQ7 TDI.' Audi is a premier brand of Volkswagen Group, which is facing regulatory investigation over emissions scandal pertaining to cheating software installed in diesel cars.

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Eurogroup and IMF Will Begin Talks on Greece Debt Relief in April

Eurogroup President Jeroen Dijsselbloem said to begin review on Greece debt soon. The group will renew talk after Greek government continue its reform plan.

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Brexit Disrupted George Osborne Effort to Balance the Budget

Chancellor of the Exchequer George Osborne face a hurdle in fulfilling his last year's ambition. In to eliminate budget deficit. Brexit issue and economic slowdown has decimated his plan.

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French Utility EDF CFO Resigns Possibly For Disagreement With CEO Over £18 Billion Hinkley Point project

Thomas Piquemal, chief financial officer of the French utility EDF has been rumored to resign over disagreement with company CEO. Due to decade low wholesale prices of electricity, the business has been forced to borrow billions of Euros for payment of dividends. Under such financial hardships, Piquemal has suggested to wait at least three years in finalizing the project plan.

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Brexit: Debate Continues In And Around The UK As Well As EU Countries

Debates in favor of and against Brexit continuing in the UK and also in the EU member countries. Except the world’s fifth largest economy, both EU and Britain, are believed to get weakened in exerting influence over global issues.

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AC Milan Needs New Investment After Losing $100 Million in 2014-2015

The former European football giant in the 1990's are facing a financial strain. After a huge financial loss, AC Milan badly needs new investment.

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Chicago bourse joins race for London Stock Exchange

Chicago Mercantile Exchange is the latest bourse that has shown interest in acquiring London Stock Exchange (LSE). Intercontinental Exchange (ICE) has already announced its intention to bid for London Stock Exchange. The merger talks on £20-billion merger plan between Deutsche Boerse and London Stock Exchange are in progress.

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Iranian Crude Oil Exports To Europe Resumes, Breaking Deadlock Since Mid-2012

Ending a sanction on Iranian oil export, The Monte Toledo, an oil tanker appears as the first to deliver crude oil in Europe since mid-2012. Iran’s oil export during February falls short from its earlier announcement for adding 500,000 barrels per day to the global oil market. However, industry insiders presume for Iranian oil exports in larger volume to Europe and Asia during the current month.

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Head of British Chambers of Commerce Resigned over Brexit Issue

John Longworth, director general of British Chambers of Commerce (BCC) announced his resignation on Sunday. He was suspended before for publicly showing his support of Britain to exit European Union.

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Maserati Introduces Levante, The First SUV In Its 102 Years’ History

Maserati has unveiled the first SUV, in its century-old history, in the Geneva Motor Show, 2016. The new SUV’s overall shape has more than a few Porsche Cayenne-like proportions while possessing trademark Italian flavor. Wester, the Maserati CEO, has also confirmed that despite having access to the wider Fiat-Chrysler group, the new Levante is a 100% Maserati.

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