British bank Lloyds Banking Group PLC reported a sharp drop in net profit in the I quarter of 2016 due to restructuring charges and redemption of bonds. In January-March, the British retail bank, which 9.2% are owned by the country’s government, decreased the revenues by 1% to 4.4 billion pounds ($...

The drop in loan impairments has given confidence to StanChart for arriving at its targets. Amid the fifty nine percent losses, Standard Chartered finds its investors pleased as the bank began to turn things around as loan impairments dropped”. The interim management statement of SC states its...

The two pharmacists have arrived at an agreement whereby, they will support each other in developing gout treatment. AstraZeneca has entered in a “licensing agreement” with the “Ironwood Pharmaceuticals” on the issue of “exclusive US rights to Zurampic”. The latter is used for treating...

Yesterday, Google, Ford, Volvo, Uber and Lyft announced creation of an alliance, which aims to promote self-driving cars in the USA. Within the union, these companies will cooperate with federal regulators and the public to create uniform rules for the operation of such vehicles, and their output...

The UK's largest retail chain British Home Stores (BHS) will be transferred to management of consulting firm Duff & Phelps, which means the beginning of bankruptcy proceedings. This was announced by the official representative of BHS, reports Sky News. Head of Retail Acquisitions consortium...

In what was a much-anticipated move to address lingering doubts over its book-keeping, Japan's Toshiba Corp said on Tuesday that it booked an impairment charge of 260 billion yen ($2.34 billion/1.5 billion pounds) for the past fiscal year on the nuclear business.   As it booked a pretax...

SWIFT says that it was aware of "a number of recent cyber incidents" where attackers had sent fraudulent messages over its system, warned the global financial network that banks use to transfer billions of dollars every day.   Te scheme involved altering SWIFT software on Bangladesh Bank's...

Hackers that stole $ 81 million from the Central Bank of Bangladesh are likely to have cracked the SWIFT system’s software, which is a basis of the global financial system’s work, said representatives of the British company BAE Systems, developers in the field of armaments and information security....

It is not yet clear whether Mitsubishi Motors Corp would get support from its sister concern - Mitsubishi Heavy Industries Ltd on the issue of fuel economy scandal.   On Monday,  Mitsubishi Heavy Industries Ltd said that it was too early to decide whether to offer support to sister...