S&P 500 index began this week by slide below closely watched threshold. However, on Wednesday as Asian stock continued raising for third consecutive day, indexes began to recover.

Fidelity Investment wrote down many of tech startups in its January valuation report. Canadian startup darling Hootsuite Media Inc. was among the list.

Foresters and Proj Fox Acquisition have signed a deal on February 29, 2016, whereby, Foresters will indirectly buy both Aegon Fund Management (AFM) and Aegon Capital Management (ACM).

Joyce Phillips, head of Australia & New Zealand Banking Group's wealth management business, is stepping down from the bank after a restructure of wealth business. The restructuring move will reduce the bank's expenses.

The world-biggest asset management firm, BlackRock Inc warned that withdrawal from EU will damage financial sector in the UK. The nation will face higher unemployment and inflation if Brexit's decision is taken.

Following slow start of the year, tech companies began to come to life. As Palo Alto Networks, Splunk and Salesforce.com brought Nasdaq to soar 2% in the last five trading days.

Puerto Rico, the island territory of U.S. is in the crisis due to its surmounting debt. Governor Alejandro Garcia Padilla repeated the island's debt will lead to moratorium.

China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.

India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.

Year 2015 was dubbed as year of fintech. As financial technology startup companies flourish and gain huge fund. Global regulators are closely monitoring the fintech startups and will propose rules to regulate them.