AIG has announced in January planning for spinning off its mortgage insurer unit United Guaranty, following pressure from the shareholders. Following the announcement, Standard & Poor’s, a credit rating agency has downgraded its rating with specific reasoning. The mortgage insurer of AIG has disclosed through a regulatory filing that it intends to go for an initial public offering.
United States
US investments in India outpacing China
Investments from the US surpassed China ever since Narendra Modi became Prime Minister of India in May 2014. The encouraging economy growth is the prime reason for robust US investments in India.
MetLife wins legal case against FSOC's SIFI designation
MetLife has won a legal battle against US regulators over systemically important' financial institution (SIFI) status. A Washington court has rejected Financial Stability Oversight Counsil's (FSOC) attempt to classify MetLife as SIFI.
Yahoo revises bylaws allowing proxy access
Allowing proxy access, Yahoo Inc has revised its bylaws. It'll also enable long-time shareholders to nominate candidates at board on ballots. The new bylaws will come into force after 2016 annual general meeting (AGM) scheduled in June or July.
ICTSI unveils new community investment fund
International Container Terminal Services' Australian arm, Victoria International Container Terminal Limited (VICT) has unveiled a new community investment fund program. The company invites domestic non-profit community institutions to apply for fund up to $20K.
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Unity Technologies, a creator of gaming software, is reportedly in negotiations to raise funds, which could value Unity at $1.5 billion.
MetLife has announced in January planning for selling large portion of its US insurance unit. But the move has been suspended following imposition of designation as SIFI by FSOC. However, the FSOC move has been declared unlawful by a Washington court which paves the way for MetLife to go with its breakup planning.
The aggressive buying binge of SunEdison Inc has resulted in a total debt of $12 billion. The US-based clean-energy company may seek bankruptcy protection.
National Football League (NFL) will hold boot camp on April 4 to 7, 2016. A total of 28 current and former players with their family members participated in the finance camp in Florida.
The report released by Needham & Company, an investment bank and asset management company, showed that bitcoin has been undervalued by more than $200, nearly 58% based on the current price.
Wall Street hits the record high in 2016. The market reacted positively after the Fed chairwoman's speech in the Economic Club Of New York on Tuesday.
On Monday, Andrew Caspersen, a previous partner of PJT Partners, was arrested for committing a Wall Street fraud. The US prosecutors accused Caspersen of defrauding $95 million from investors.
US-based Western Alliance Bank has decided to buy GE Capital assets from General Electric Co. The deal is expected to be completed by end of 2016. General Electric will focus on its core industrial operations.
The £21-billion merger of London Stock Exchange (LSE) with Deutsche Börse is facing an increasing resistance from Germany. Politicians and senior industry leaders are concerned about losing the financial hub status of Frankfurt.
