Four things you may have missed in the ICIJ’s Panama Papers report April 5, 2016 There's no denying that 2.6 terabytes worth of data is a lot to wade through, so it's not surprising that Sunday's Panama Papers report by the International Consortium of Investigative Journalists (ICIJ) was quite a lot to take in. Now that you've had a few days to get your head around the report, here's four things you [...]
Pfizer’s $160bn takeover of Allergan is under pressure after the US Treasury introduced new rules on inversion deals April 5, 2016 A deal between pharma companies Pfizer and Allergan which would create the world's largest drugs firm is back in the spotlight as it may not go ahead, after the US Treasury ramped up its efforts to curb so-called 'inversion deals'. Shares in Dublin-based Allergan are down over 15 per cent today, following the Treasury's announcement late last night [...]
Allergan shares tumble in after hours trading as US Treasury takes further steps to curb ‘inversion’ deals April 4, 2016 Shares in Dublin-based pharmaceutical company Allergan have slumped by almost 20 per cent in after-hours trading, after the US Treasury said it was taking steps to curb so-called 'inversion deals' in which US firms reincorporate overseas following an acquisition. Allergan has agreed to be bought by Pfizer in a $160bn (£112bn) deal that would see Pfizer [...]
Panama papers: Reaction to the massive data leak from law firm Mossack Fonseca detailing how global elite protect their riches April 4, 2016 News that a number of world leaders, as well as other global public figures, have been linked to tax evasion and money laundering has been met with calls for a crackdown on secretive international financial systems. A leak of 11m documents from Panamian law firm Mossack Fonseca has revealed that the company has helped clients launder money, [...]
Panama papers scandal: Everything you’ve ever wanted to know about bearer shares (but were too afraid to ask) April 4, 2016 The International Consortium of Investigative Journalists (ICIJ) includes a reference in its Panama Papers report to bearer shares, describing them as one way to protect the anonymity of companies' owners, making it harder to ascertain the exact ownership of the companies. But what are bearer shares? And does the decline in the number shown in the ICIJ numbers [...]
Well that was unexpected – US jobless rate rises for the first time in months but non-farm payroll beats expectations April 1, 2016 The US jobless rate rose in March, the first time since May 2015 it has done so – but the number of job openings beat expectations. Unemployment edged back up to five per cent, having dropped to 4.9 per cent last month, while the number of job openings hit 215,000, against forecasts of 205,000. That follows [...]
China-led infrastructure bank eyes India for first loan March 31, 2016 India is in line to receive one of the first loans from the China-led Asian Infrastructure Investment Bank (AIIB) later this year. The AIIB was created to fund energy, transport and infrastructure projects in Asia, and is touted as a rival to Western-centric financial institutions like the World Bank. Indian officials said today that the cash would be [...]
PMDB party pulls out of Dilma Rousseff’s governing coalition in latest turn in Brazil’s political crisis March 29, 2016 The largest party in Brazil's ruling coalition, the PMDB, has voted to leave the government in an "immediate exit" and said it will pull its members from president Dilma Rousseff's cabinet. The centrist Brazilian Democratic Movement Party made the decision to withdraw the six remaining ministers in Rousseff's cabinet at a leadership meeting today. The PMDB's ministers, including the country's [...]
All hostages released from EgyptAir MS181 in Larnaca, Cyprus as hijacker arrested March 29, 2016 All the hostages have been released unharmed from Egypt Air flight MS181, and authorities have arrested the hijacker. "It's over," said Cyprus' ministry of foreign affairs. Its over. The #hijacker arrested. #LarnacaAirport # Egyptair — Cyprus MFA (@CyprusMFA) March 29, 2016 The flight, bound from Alexandria's Borg El Arab for Cairo, was diverted to Cyprus' Lanarca Airport after [...]
US Capitol: Gunman captured, bystander wounded in “isolated incident” after reports of shooting at Capitol building in Washington DC March 28, 2016 A police officer shot and captured a man with a weapon at the US Capitol building in Washington DC, but no officers were wounded the police have said, contrary to earlier reports. Police have clarified that the suspect who brought the weapon to the visitors centre is undergoing surgery after sustaining an injury in the [...]