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.
Sectors
Joyce Phillips quits from ANZ amid business reform
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.
Brexit Will Endanger UK Financial Sector,BlackRock Inc Said
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.
Porsche Design Tower Attracts Billionaires With Its Car Elevators and Luxurious Amenities
Porsche is constructing its residency tower with hydraulic lifts that could transport residents’ cars to the garage next to their units. The garages will have floor-to-ceiling windows right outside the living room, where car enthusiasts can keep and enjoy their cars in the luxury personal garage while enjoying the buildings post amenities.
CaixaBank may acquire Isabel Dos Santos' stake in BPI
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.
Latest News
The Dell's acquisition of EMC Corp for $59 billion is going ahead as per the schedule. EMC shareholders are expected to vote on the deal in May. Dell's Michael Dell said in a memo that the deal would be completed according to the stipulated schedule.
Florida Institute of Technology (FIT) have developed a new type of astronomical camera that can spot faint reflections of distant worlds near bright stars millions of times better than that possible with an ordinary telescope.
Global investment in the clean energy sector has been increasing year by year. However, Canada’s clean energy investment has been plunged by 46% in 2015 compared to the previous year. Canadian government has been urged by the Clean Energy advocates to adopt more investment friendly policies to patronize the sector.
B.C. clean-tech companies have requested Prime Minister Justin Trudeau to allocate a $500 million venture capital (VC) fund. An alliance comprising 51 clean-tech and investment firms from B.C. province has written a letter to the Prime Minister Trudeau to extend support to clean-tech industry.
The retail prices for prescription drugs have increased at a faster rate from the year 2006 to 2013. In 2013, the retail price hike for prescription drugs used by older people in America was 9.4%.
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.
Volkswagen unveiled Phideon as its new luxury car today, ahead of Geneva International Motor Show. The successor of Phaeton will only be sold in China.
Facebook’s WhatsApp announced that they will stop supporting older mobile platforms, including BlackBerry, Nokia, as well as older Android and Windows operating systems. The decision would allow the app to further improve its features beyond older smartphones’ capabilities.
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.
