The Geneva prosecutor said on Thursday he had launched a criminal inquiry in connection with the Panama Papers, which revealed the use of offshore companies, including many set up by lawyers and financial institutions in the Swiss city. “We have decided to open a procedure in the framework of the ... Read More »
Donald Trump says the Federal Reserve has stoked asset bubbles and backs a congressional review of its decisions. Bernie Sanders also wants to “audit” the Fed to make it less beholden to Wall Street. Ted Cruz calls for a return to a gold standard abandoned in 1933. Such voices from ... Read More »
A Malaysian parliamentary inquiry on Thursday slammed the board of state fund 1MDB for being irresponsible and urged a probe into its former chief, but stopped short of implicating Prime Minister Najib Razak who was an advisor for the troubled firm. Parliament’s Public Accounts Committee (PAC) said senior management at ... Read More »
If 2015 was a dream year for Wall Street’s top dealmakers, 2016 is starting to take a nightmarish turn. Some of the mega transactions that had champagne corks popping in boardrooms are running into antitrust problems and, in the case of pharmaceutical firm Pfizer Inc’s (PFE.N) $160 billion takeover of ... Read More »
The dollar’s fall against the yen deepened on Thursday after minutes of the U.S. Federal Reserve’s most recent policy meeting offered little optimism over the state of global growth and the prospect of a rise in interest rates in June. The U.S. currency .DXY, hammered since late March by the ... Read More »
Global distressed asset buyers such as JC Flowers & Co and Apollo Global are flocking to India, where banks have been ordered to clean up an estimated $120 billion of bad and troubled loans. Bad loans at Indian banks jumped by nearly a third to around 4 trillion rupees ($60.3 ... Read More »
PARIS: France will put Panama back on its list of countries that do not cooperate in efforts to track down tax dodgers, finance minister Michel Sapin said in the wake of the Panama Papers revelations. “France has decided to put Panama back on the list of uncooperative countries, with all ... Read More »
SINGAPORE: Crude futures jumped on Wednesday as hopes for an agreement among exporters to freeze output underpinned the market, although persistent global oversupply and Iran’s plans to boost production pressured physical oil prices. Oil futures recovered from one-month lows to end the previous session up after the Kuwaiti governor for ... Read More »
NEW YORK: US pharmaceutical giant Pfizer said Wednesday it was abandoning plans for a $160 billion merger with Allergan, citing new US rules cracking down on tie ups aimed at saving on taxes. The deal with the Irish-based firm would have created the world’s largest pharmaceutical company. Pfizer said in ... Read More »
NEW DELHI: Dalal Street has a rupee problem and no one is talking about it. The domestic currency had depreciated 3 per cent against the US dollar till February end on the back of rampant FII selling in the early weeks of the year. Market experts at that time saw ... Read More »
BENGALURU: Property developer Sobha said its new sales fell during the fourth quarter compared to last year as the real estate sector continues to struggle. Sales dropped 14% to 0.88 million square feet space, for the three months ended March 2016, from 1.03 million square feet, a year earlier, the ... Read More »
CHENNAI: Private insurer Bharti AXA Life Insurance Company has launched a non-market linked life insurance plan called Bharti AXA Life Super Series. The money back plan offers guaranteed income which increases throughout the payout period and gives a guaranteed lump sum payment at the start and end of the payout ... Read More »
