Good morning! Here’s what you need to know.
Bonuses are falling. The average Wall Street bonus fell 9% to $146,200 in 2015 as volatile financial markets hurt profits at New York’s broker dealer firms, according to a report released by a top New York state financial watchdog.
The Bank of England is preparing for Brexit. The central bank is preparing liquidity auctions to keep the banking system going in the event of the UK voting to leave the EU.
Turkey is looking for cash. Turkey is seeking an extra €3 billion in aid under a deal with the EU to curb the flow of migrants to the continent, European Parliament head Martin Schulz said Monday.
The UK government stood by EDF. The UK government supports plans by French energy company EDF to build a new nuclear power station in Britain, Prime Minister David Cameron’s spokeswoman said after the company’s finance director resigned.
Alibaba’s finance unit is worth a lot of money. Chinese e-commerce giant Alibaba Group Holding’s finance arm, Ant Financial Services Group, could be valued at nearly $50 billion in its current round of funding, the Wall Street Journal reported.
Facebook won’t be prosecuted by the EU. Facebook is unlikely to come under separate EU antitrust scrutiny since Germany, which launched an investigation into the social network last week, is well placed to handle the case, Europe’s antitrust chief said.
VW thought it could keep its emissions scandal private. Embattled German automaker Volkswagen believed it could clear up emissions-cheating allegations with US authorities amicably and was caught offguard by them going public instead, a key company document revealed Monday.
Valeant had good news. Valeant Pharmaceuticals International, the subject of intense scrutiny over its business practices and pricing policies, said it would release preliminary quarterly results and guidance on March 15, raising hopes the company will serve up some positive news after months of uncertainty.
Iran’s stance could be softening. Iran’s President Hassan Rouhani on Monday praised a reformist predecessor, Mohammad Khatami, for helping reformists and moderates to triumph in February elections, defying a media ban on any mention of the ex-leader who championed detente with the West.
The EU is going back to Greece for the bailout. Greece’s bailout inspectors are likely to return to Athens to complete a much-delayed review of the government’s adherence to its economic reform commitments.