Daily Management Review
Business & Finance

Accused of Poor Checks on Wealthy Clients, FCA Fines Barclays £72m Over 'Elephant Deal'

Holding a top bank responsible for running the risk of laundering money or financing terrorism by conducting the deal for politically sensitive people, a £72m penalty was slapped on Barclays for an “elephant deal” that it had executed three years ago.   Deals that are worth £20m or more...

In Addition to Hydrocarbon Taxation Support, UK To Create 'Shale Wealth Fund'

The UK is desperate to join the club of elite countries that produce either natural gas from shale formations or crude oil from tight formations at an international level. Only four countries – US, Canada, Argentina and China are members of this club.   And the UK government has pledged its...

Apple Buys out Facial Recognition Technology Startup Faceshift

In what is being termed as “more or less” confirmed reports, Apple is said to have acquired Faceshift.   Faceshift is is a Zurich-based startup focused on creating technology that allows for capturing a person's facial expressions in real-time and using that data to create avatars and other...

Alibaba Browser Upstages Apple's Safari

According to StatCounter, a browser made by UCWeb company, subsidiary of the Chinese giant Alibaba Group, came in second place in the world for installation on mobile phones. Thus, the app has overtaken Apple's Safari browser. UC Browser’s share on mobile phones was 17.42% in the world in October...

Panasonic to Invest in "High-Tech Vegetables"

Japanese Panasonic Corporation continues to develop one of the most unusual areas of its business. Since last week, "high-tech" salad and vegetables are available in supermarkets, restaurants and resorts in Singapore. The products were grown on environmentally friendly "vegetable factory" built in...

Pfizer Allergen Giant Deal Attacked by Politicians in the US

Identifying the deal as an attempt to avoid legitimate taxes, politicians in the US have come down heavily on the $160 billion deal between drugs giant Pfizer's and botox-maker Allergan.   According to the conditions of the buyout by Pfizer, it has been proposed that the merged company will...

‘Major Restructuring’ on the Cards for Rolls-Royce, Jobs to be Lost

A major restructuring program is on the cards for British engineering company Rolls-Royce said its new chief executive Warren East.   The aero-engine maker was already under pressure to outline how it would return to growth after four profit warnings in just over a year. The company is now...

Petco to be Acquired by CVC Capital, CPPIB for $4.6 Billion

Funds affiliated with CVC Capital Partners and Canada Pension Plan Investment Board have entered into a definitive agreement to jointly acquire the Company from a group of investors led by TPG and Leonard Green & Partners, announced Petco Animal Supplies, Inc on Monday.   The deal of...

Its Asia vs US in Green Car technology on US Turf

California is witnessing a unique battle of sorts among auto markers. In a bid to woo away green car buyers from Tesla Motors Inc, the battery electric vehicle leader, the Asian automakers are opening up a new front in the contest to define the future of cars.     To tout new...

Pfizer Announces Allergen Buyout in the Historic Deal, Shifting Head Quarter to Ireland to Avoid Tax in the US

In a record deal for mergers and acquisitions, Pfizer Inc on Monday said it would buy Botox maker Allergan Plc for $160 billion. The company would also move its headquarters to Ireland to cut its U.S. tax bill.   With a combined annual revenue of about $64 billion, the acquisition will...
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