Daily Management Review
Business & Finance

The Five Largest Banks in the World Were Accused of Manipulating the Forex Market

The five largest banks in the world are expected to be found guilty of a criminal offense and sentenced to a cumulative fine of more than $ 5 billion for fraud in the foreign exchange markets, reports Reuters. US banks JPMorgan and Citigroup and the British Barclays and Royal Bank of Scotland will...

Paypal to pay $25 million to CFPB

American online payment services company PayPal has accrued $25m in penalties and refunds as the Consumer Financial Protection Bureau has found out that the company deceptively signed its consumers to its ‘Bill me later’ service without their permission.   The Bureau noted that the company...

UBS pleads guilty of forex rigging charges

The bank is one of the five leading banks in the world to have accepted the forex rigging charges. Switzerland-based UBS has announced that it has settled a probe by US authorities over its alleged rigging of currency markets by agreeing to a fine.   The bank plans to pay off $545 million in...

ZTE to launch Nubia brand in India

Chinese smartphone maker ZTE is the new entrant in the crowded smartphone market in India. Chinese smartphone maker ZTE is planning to launch its Nubia brand of smartphones in India in an exclusive partnerwhip with Amazon India.   The sub-brand of ZTE is already available in China along with...

The Venture Capital Market is still in nascent in Europe, compared to the US

Adaptimmune Ltd, a UK based biotechnology company has been on the move to create an early funding scenario by expanding their shares to the US stock exchange. Adaptimmune Ltd, a UK based biotechnology company is currently working on treatments that shall use a patient’s very own immune system...

Bond Market turns bearish thanks to Computer Driven Hedge Funds

The European Central Bank recently had announced their quantitative easing program in January following the quick sell of bond holdings around late April. The European Bank having gobbled up Eurozone, there have been primary speculations of another group of investors having dumped the same and thus...

Christie's Weekly Sales Exceeded $ 1 Billion for the First Time

Auction houses Christie's, Sotheby's and Phillips have sold art objects for a record $ 2.7 billion in just one week and a half of spring auctions in New York, which began on May 5. As recalled by the agency Bloomberg, the previous record was set in November, when sales of Impressionist, modern art,...

Uber to Become the Most Expensive Startup

American Uber Technologies, which owns popular taxi service, is going to attract investment of $ 1.5 billion. This can bring the company to the title of most expensive startups in the IT-sphere. Now the place belongs to China's Xiaomi. Uber’s cost could rise to $ 50 billion, writes the news agency...

Honda to recall vehicles with faulty airbags by Takata

The largest vehicle recall in the history is underway, thanks to faulty Takata airbags Japanese automobile giant Honda Motor has recalled another 4.89 million vehicles world-wide with potentially faulty air bags made by its supplier Takata Corp.   Honda is only the third of Japanese...

Walmart China approves alibaba mobile payments

Walmart has partnered with its rival Alibaba to facilitate the growth of the latter's mobile payment service in China. Chinese online retailer Alibaba and US-based department store chain Walmart have announced a partnership to allow Walmart customers in China to make store purchases using...
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