Financial tech and its $147 billion potential market opportunity required financial regulators to supervise the industry. In 2015, investments in the fintech sector doubled, reaching $14 billion.
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The company called off the acquisition of Allergan after the U.S. Treasury issued the rule preventing the deal. Nevertheless, Chief Executive Officer Ian Read still has the investors support.
Pfizer and Allergan will have to scrap the merger deal following the new regulation from Treasury Department to stop the U.S. company moving overseas.
The demand for the US industrial products declined in February, signalling an additional slowdown in the country's economic growth. Fresh orders for the US industrial products dropped 1.7% in February, compared to an increase of 1.2% in January.
US Treasuries dropped for the first time in seven days as China concerns eased. The unexpected depreciation of Yuan by China's central bank sent shock waves across the global markets. This triggered selloff in equities and forced investors towards safe havens such as treasuries and gold.
The capital outflows from the world's second-largest economy registered record level in November. The capital outflow grew almost three times in November from October.
ISIS (Islamic State in Iraq and Syria) has begun selling Iraqi crude oil to Syria, against which the Islamic militant group has been fighting to take over the country.
The measures by Barack Obama-led US government to keep more pressure on lawmakers to bring Puerto Rico out of the economy crisis are facing strong resistance from Republicans. The US Treasury has listed out proposals, for which it sought the support of Congress to enact them to help the US territory Puerto Rico Island in dealing with the ongoing financial crisis.
Several countries including the US told a global anti-money laundering organization that they should delete the public warning it had given last June to various financial institutions regarding corruption in soccer.
The creditworthiness of the world's largest economy seems to be drenched as US treasury has stopped issuing further debt citing reasons for reaching the borrowing ceiling.
The US government has finally sold its last remaining stake in General Motors, the largest automaker in the US in terms of sales, according to a Financial Times report.
A trend in hiring former government officials in executive roles had been seen in investment firms, said a Bloomberg report. Recently, Warburg Pincus LLC appointed former US Treasury secretary Timothy Geithner as its new president.
Former US Treasury Secretary Timothy Geithner will be joining global private equity firm Warburg Pincus LLC in March. Geithner became notable for his role during the US financial crisis.
The world's largest retailer is likely to provide an update on its layaway program's results and on early indications of whether shoppers are taking to its first holiday specials. Wall Street is waiting to see whether Wal-Mart again cuts its fiscal year forecast.
Investors remained anxious even if US Treasury Secretary Jacob Lew announced last week in Congress that the department had the capacity to pay US Treasury bill holders.
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