Global venture capital funding for financial technology companies hit $13.8 billion last year. The number is a double from previous year, indicating a serious impact of fintech to the financial services.
Finance/Venture
Plunge of Valeant Shares Made Bill Ackman to Lose $1 Billion
A huge slump in Valeant Pharmaceutical stocks on Tuesday made Pershing Capital to lose more than $1 billion in one day. Meanwhile Bill Ackman planned to take more active role in the drugmaker.
Shareholders of Citigroup and JPMorgan Will Vote on Potential Breakup
Shareholders of two U.S. prominent banks will vote later this year regarding the breakup plans for the banks. However shareholders are predicted to decline the plan submitted by liberal lobby activist.
Bank of England is Predicted to Keep Interest Rate Low in Fear of Brexit
In fear of Brexit, economists predicted British central bank will keep its interest rate low. While Bank of England Governor Mark Carney warned that Brexit will damage British financial stability.
Frankfurt and London Stock Exchange Has Reached a Merger Agreement
Two of the most prominent European stock exchange, Frankfurt and London has agreed to merge on Wednesday. The merger between them will create a new European trading powerhouse.
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South Korean venture capital firms are eyeing overseas biotech industry to accelerate investment goals. At the sametime, tech startups in Korea also began to flourish.
Investment firm BlackRock has modernized its trading policies with the help of twenty tech skilled members' team. The company is shifting to electronic trading to overcome market challenges.
Life Insurance Corporation has invested in nine state-owned banks. The Indian-based insurance group has invested around ₹2,750 crore in shares of nine banks in order to strengthen their capital reserve.
Treasure Department published monthly budget report on Thursday. This year a 0.1% increase is reported from last year. This full-year's deficit is forecasted to be much higher than 2015.
Square reported a widened loss during the fourth quarter of 2015 as transaction expenses and other related costs burdened its balance sheet. The company reported a 49% increase in quarterly revenue.
Owner of New York Stock Exchange, Intercontinental Exchange prepare its bidding on London Stock Exchange. The bid came in the midst of merger talk between London Stock Exchange and Deutsche Boerse.
Asian stock market dropped starting Monday after three weeks rally. Concern over oil prices and economic outlook of China triggered the drop.
Eurogroup President Jeroen Dijsselbloem said to begin review on Greece debt soon. The group will renew talk after Greek government continue its reform plan.
The acquisition will create a second largest investment bank in Egypt. Sawiris acquired CI Capital Holding with its investment arm, Orascom Telecom Media and Technology.
