Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose.
Hewlett-Packard Enterprise reported its quarterly result on Thursday. The company booked a better than expected revenue and profit, but its earning fell by negative currency impacts.
Northern Trust subsidiary 50 South Capital Advisors is going to acquire Aurora Investment Management, a Natixis Global Asset Management subsidiary. Both the parties are maintaining silence on terms of the deals which is expected to close by the end of September. Most of the Aurora Investment professionals will continue their service.
Advanced Research Projects Agency-Energy (ARPA-E) plan to outperformTesla. The agency under Department of Energy has been on research for years.
Public worker unions are raising voice against huge fees and bonuses being paid to private fund managers. New Jersey's (N.J.) government worker pension fund paid $728 million in fees to private fund managers for 2015 year.
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.
SunEdison has announced on Wednesday suspending quarterly dividend followed by earlier decision for making delay in disclosing quarterly earnings report. Following these revelations, the banks deciding earlier to extend loan facility, have pulled out from the loan commitments. Delay in disclosing earnings violate prior loan agreement which has been cited as the reason for pulling back.
Led by energy and banking stocks, equities on Wall Street surged after the latest data buoyed investor confidence. Crude oil price was nearing $35 per barrel. Wall Street is waiting for jobs data to be released on Friday.
Fidelity Investment wrote down many of tech startups in its January valuation report. Canadian startup darling Hootsuite Media Inc. was among the list.
According to a latest 'Beige Book' from US Federal Reserve, economic activity in some districts has been slowing down, while some recorded modest growth in labor market. The latest financial market crash also hit consumer spending severely in some areas.
After United Technologies refused its $90.7 billion offer, Honeywell announced on Tuesday to stop its effort in acquiring its rival company. United Technologies refused the offer because of regulatory concern.
The US Department of Labor has proposed a fiduciary rule which is believed to cause increase cost for brokerage business. The proposed rule is now being reviewed by the Office of Management and Budget. But fearing enactment of tougher rules, Metlife has announced on Monday selling its US adviser unit to MassMutual for $300 million.
Spain-based Caixabank is planning to buy the stake of Isabel Dos Santos in Portugal's Banco BPI SA. The negotiations over the acquisition are still going on and may be completed soon.
Canada-based Bank of Nova Scotia witnessed a strong profit surge as banking activity in domestic and international operations rose. Scotiabank has increased provision for bad loans in the oil and gas sector. The bank is expanding in Mexico, Chile, Columbia and Peru.
Eroding revenue from bond trading and other core services, Morgan Stanley has changed its business focus towards asset management business. It has also focused on Latin America to procure investment in US businesses. To ensure the business hunting, the banking giant has planned for appointing 75 advisers for this region during this year.
Subscribe to VCpost newsletter
- Fast-growing Small Business Industries in 2019
- 5 Must have Technologies for a Busy Office
- Why Email Marketing Isn’t a Bust
- Home Improvement Projects with the Best and Worst ROI, According to the Data
- Ford And Volkswagen Enter Self-Driving Car Joint Venture
- Three Take-Aways From A Clean Energy Venture Capitalist
- Toyota, Denso Form Venture To Create Advanced Chips For Self-Driving And Connected Cars
- Diversity In U.K. Venture Capital Firms Remains Shockingly Low