American movie studios are getting closer to Chinese firms as sources of funding. Dick Cook Studios has just secured $500 million in production deal with China’s Film Carnival. The studio is working on the first film under the deal.
Industry
UK finance chiefs put hiring, investment plans on hold amid Brexit concerns
UK's financial chiefs are concerned about impact of Brexit, postponing their key decisions on hiring and investments. The British industry and business segments are in wait and watch mode until referendum on Brexit in June 2016.
Xiaomi Partners with India's Hungama, Invests $25 Million
Xiaomi’s partnership with India’s Hungama will make it easier, more accessible and more affordable for locals to access the company’s service that will soon be integrated together with themes and ringtones.
SpaceX Prepares to Launch Its Falcon 9 Rocket this Friday
This Friday SpaceX is ready to launch Falcon 9 rocket carrying cargo for International Space Station. NASA has also anticipated to use SpaceX and Boeing to launch astronauts by the end of 2017.
Biggest Documents Leak in History Ties Vladimir Putin to $2 Billion Offshore Money Trail
The history’s biggest confidential documents leak revealed Russian elites, mostly Mr Putin’s inner circles, as clients of an offshore law firm in Panama. The offshore money trail connected to Mr Putin’s allies is worth $2 billion.
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The Taliban-developed app was called Alemarah that enables viewing and reading in Pashto. It was deleted from Google’s Play Store within a short time after a report from SITE Intel Group. The app was available in five different languages including Arabic and English.
China's eighth largest investment bank, Guosen Securities, has clarified on behalf of its unit that there's no default on its offshore debt. The trustee of the offshore bond Bank of New York Mellon (BNY) had earlier warned bondholders of a possible default.
Chariot for Women is a ride-hailing service where both drivers and passengers are women. The startup is behind Michael Pelletz's idea whose concern is for the safety of female drivers and passengers. The service will be launced in Boston on April 19.
Besides suffering from acute cash crunch SunEdison has been facing scrutiny from regulators over failed Vivint deal and other issues. Huge debt burden has led the renewable energy giant to consider for seeking bankruptcy protection and is holding negotiations for related financing. The news has caused slashing share prices by around 50% during after hours trading on Friday.
SunEdison is about to file bankruptcy protection to safeguard itself from creditors while trying to recover from its losses while it continues to operate. At the same time it is being investigated by the Securities and Exchange Commission over possible overstating.
BayWa has partnered with Spruce Finance to provide finance products for its solar distribution clients in the US. With regard to this partnership, dealers across the US will have access to loan products from Spruce Finance.
The central bank of Brazil expects the nation's gross domestic product (GDP) to shrink 3.5% in 2016 and inflation to hit 6.6%. The Central Bank expects Brazil's inflation rate to drop to 4.9% in 2017.
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.
GE has slashed down assets of finance arm from $549 billion to $265 billion while cutting ties with rest of the financial system that led to attain the SIFI status. Now the conglomerate appeals for its declassification since it no longer possesses ability to exert risk for the US economy. However, an FSOC spokesman vows to exercise its legislative authority in protecting the country’s economy from potential threats.
