Blaming the forgery on a gambling addiction the accused could not control and engineering a fraud where investors were looted over $38 million, former Wall Street executive Andrew Caspersen pleaded guilty to charges that had been laced against him.   Caspersen pleaded guilty in federal court...

Avast Software company buys his Dutch rival AVG Technologies for $ 1.3 billion in cash to expand its presence in emerging markets, reports Reuters. Amount of the transaction is defined to be $ 1.3 billion, or $ 25 per AVG’s share, which is 33% more than value of the company’s securities at closure...

Tesla Motors Inc. again failed to implement its plan of electric cars deliveries set in the II quarter. Instead of projected 17 thousand cars, the company has released only 14370, Bloomberg reported. Analysts have already questioned the company’s annual plan for production of 500 thousand cars by...

In a deal that will create a regional powerhouse with $175 billion of assets, the National Bank of Abu Dhabi PJSC is merging with rival First Gulf Bank PJSC.   While FGB’s shares will be de-listed and the lender will operate under the National Bank of Abu Dhabi name, FGB shareholders will...

Lyft, specializing in call drivers, hired investment bank Qatalyst Partners. The latter is known to help technology companies find buyers for their business, said sources familiar with the situation. According to them, Qatalyst Partners’ founder and CEO Frank Quattrone have already consulted on...

Sotheby's failed to sell the largest natural diamond found in more than 100 years. Diamond Lesedi la Rona is equal in size to a tennis ball. The gem weighs 1109 carats, or about 222.2 grams. Its price was expected to reach $ 86 million, which would make it the most expensive gemstone in history....

Japanese Line company, which messenger competes with WhatsApp, is preparing an initial public offering on two exchanges in Tokyo and New York. Market volatility that followed the British referendum on the country's exit from the EU (Brexit), had no effect on Line plans. It is expected that the IPO...

Two major Chinese steel companies included in the country’s top-100 rating today announced their restructuring plans. Details have not been disclosed, reports "Xinhua". At the same time, the United States has introduced limited access regime to its market for Chinese steelmakers. Companies Wuhan...

Texas, US, oilman Chris Faulkner has been accused by the SEC of cheating investors out of $80 million to fund a "debauched" jet-setting lifestyle. Faulkner built a high-profile public persona and raised millions for his oil and gas ventures.   Allegations of a stunning failure of corporate...