New data released by the the Office for National Statistics in London today indicated a brighter economic outlook in the UK, thanks largely to an increase in business investments and home constructions.
Finance/Venture
'Ransomware' likely hitting jackpot with bitcoin surge
Cryptolocker thieves are taking advantage of the $1,000 surge of the Bitcoin value by spreading malware that threatens to encrypt computer data and collecting anonymous Bitcoin ransom from unwitting victims.
Golub Capital gives USD 193 million loan facility to Aurora Capital Group for NTS purchase
Golub Capital announced that it provided a USD 193 million one-loan debt facility to Los Angeles-based private equity firm Aurora Capital Group to support its National Technical Systems Inc acquisition.
Bitcoin ATM in Canada transacts over C$1M in less than 30 days
The accessibility of purchasing and selling Bitcoins via ATMs were popular, that a Robocoin Bitcoin ATM stationed in Vancouver, Canada raked in over 1,500 transactions at more than CAD1 million in 29 days.
Is Bitcoin the future of consumer money?
Should an average consumer ride on the Bitcoin frenzy? An article published on the The Guardian cautions investors about the unclear nature and use of the Bitcoin, and asks them to wait unless a government-sanctioned financial system for the virtual currency is in place.
Latest News
The U.S. Justice Department is probing Morgan Stanley for its hiring practices in China. The move comes as U.S. authorities expand their investigation into whether banks' hiring of politically connected Chinese employees may have breached U.S. bribery laws.
Royal Bank of Scotland said it sold its remaining stake of about 20 percent in WorldPay to the payment processing firm's majority shareholders, private equity firms Advent International and Bain Capital.
China Everbright Bank Co is set to raise USD 1.5 billion in its initial public offering in Hong Kong, based on calculations done on the lender's sale document.
As the new administration under Prime Minister Erna Solberg reviews the current investment mandate of its USD800 billion wealth fund, top officials like Norway central bank Governor Oeystein Olsen were pushing for a diversification of investments.
Florence Yip Chiu Kwai-fong, a member of the Financial Services Development Council, said the Hong Kong government needs to make changes in the law that will allow private equity funds to be set up as limited partnerships to enhance the city's fund industry.
In order to improve its finances and increase profits, European insurer Assicurazioni Generali said it plans to cut costs further by 2015 and bring down debt.
An unnamed source was cited by Bloomberg who said Malaysian billionaire Ananda Krishnan's Binariang GSM Sdn will decide whether to pursue its sale of around MYR6 billion or USD1.9 billion of Islamic bonds before the year ends.
According to a report from The New York Times' The Dealbook, the popularity of very lucrative but highly-risky business development companies has surged these days.
The New York Times' The Dealbook reported that small businesses were now fueling a boom on the subprime loan business as investors look for more lucrative but riskier investments.
