Author Archives
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General Electric agrees to sell part of its lighting business for an undisclosed sum
The part sale of GE’s lighting business, which can be traced back to Thomas Edison who co-founded the company more than a century ago, is just the first of many steps to shred-off its non-core assets and focus on just… Read More ›
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SEC blocks Chongqing Casin Enterprise Group from purchasing the Chicago Stock Exchange
On verification by the SEC’s commissioners, led by Chairman Jay Clayton, the regulator was unable to locate the source of funds for the proposed deal; they were also unable to get sufficient information on the proposed buyers. U.S. regulators have… Read More ›
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Volkswagen turns to Apple for design of its EVs
Volkswagen wants its electric vehicles to be the apple of the consumer’s eyes. Volkswagen, Europe’s biggest carmaker is now turning to U.S. tech giant Apple for guidance on how to style its new generation of electric cars, said VW’s top… Read More ›
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Bridgewater bets against some of Europe’s biggest companies
Although in the United States, hedge funds are not required to disclose their short positions, European rules demand that beyond a certain threshold short positions are to be declared mandatorily. These disclosures have shed light on Bridgewater’s short strategy. Bridgewater’s… Read More ›
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GM prepares to leave South Korea, doles out generous compensation package
While GM will shutter its plant at Gunsan by May 2018, it has yet to disclose on the fate of the remaining 3 plants in the country. As part of its voluntary redundancy plan, the South Korean unit of General… Read More ›
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Donald Trump’s energy source mix features green energy credentials
This report is in stark contrast to expectations and believes that the Trump Administration is only pro-fossil fuels. Here is a shining example of how a self-funded U.S. goverrnment international finance body is helping to promote and fund green energy… Read More ›
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China’s yuan could weaken if the Feds stick to 3 interest rate hikes in 2018
The following is a brief outlook on the future of the Chinese yuan against the greenback in 2018. The results of a Reuters poll indicate that the bulk of the gains, the Chinese yuan has so far registered is likely… Read More ›
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India’s Punjab National Bank detects fraudulent and unauthorized transactions worth above $1.77 billion at its Mumbai branch
The demonetization of high value notes in India has led to a string of incidents pointing to previously undisclosed transactions in the country. On Wednesday, India’s Punjab National Bank (PNB) stated it has detected “fraudulent and unauthorized” transactions worth more… Read More ›
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SEC questions Credit Suisse on the closure of its VelocityShares product
Along with the SEC, Switzerland’s Financial Market Supervisory Authority has also stated it is in contact with Credit Suisse regarding the closure of its product. On Tuesday, a report by the Wall Street Journal stated that the U.S Securities and… Read More ›
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Australian mining giant BHP Billiton to take a 1 time $1.8 billion tax hit in the U.S.
The one-time tax hit is because of changes made to the U.S. tax code. On Tuesday, Australian mining giant BHP Billiton stated it will incur a $1.8 billion income tax hit due to changes in the income tax rate for… Read More ›
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