A group of financial tech startups are tapping into a niche market wherein 80 million people with low FICO credit scores could not obtain loans from banks and other financial institutions.
North America
Top deals of the day - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Wednesday, including Fortum, National Vision, Saipem, CTT, MTS, Southern Pacific, Warrnambool, Verbund, Bakkafrost, Popular and Marathon Oil.
KKR, Carlyle vie for optical retailer National Vision -sources
KKR & Co LP and Carlyle Group LP are competing for National Vision Inc, the fourth-largest U.S. retailer of eyeglasses and contact lenses, in an auction that could fetch up to $1 billion, people familiar with the matter said this week.
Photo-sharing service Snapchat raises $50 million
Snapchat, the mobile photo-sharing service beloved by teenagers and twenty-somethings, has raised another $50 million, according to a Securities and Exchange Commission filing made Wednesday.
Hilton Worldwide raises over $2.3 bln in biggest-ever hotel IPO
Hilton Worldwide Inc, the world's largest hotel operator, raised roughly $2.34 billion in its IPO on Wednesday after pricing shares toward the high end of the range.
Latest News
Yahoo has yet to address technical problems of its mail and small business services, which is causing frustration for many of its individual and small business customers, according to a TechCrunch report.
Should it relent to pressure to sell its television set-top box business, Cisco could have difficulty finding obvious buyers for the unit, said a Reuters report.
In a report by CNET, Ubuntu founder Mark Shuttleworth said that it had signed a deal with a major manufacturer to create and ship smartphones running on Ubuntu Touch OS.
The Luxembourg-based General Court declared on Wednesday that Cisco's antitrust concerns regarding Microsoft Corp's takeover of the largest Internet video and voice messaging provider Skype was unfounded.
PayPal president David Marcus played down the factors Bitcoin obtained in recent months as a potential currency and insisted that it is rather an asset, according to a VentureBeat article.
A Business Insider report said the few hundred people who owned the digital currency Bitcoin are the ultra-rich, as estimates indicate that each owns at least $1 million worth of Bitcoins.
Detroit-based company said yesterday on a conference call that the departure of its chief executive officer Dan Akerson was personal, as his wife of over 40 years has been diagnosed with advanced cancer.
The row that occurred between 23andMe Inc and the Food and Drug Administration has led to stricter oversight of the genetic testing industry, according to a Bloomberg report.
UK-based FirstGroup said no to the proposal of hedge fund Sandell Asset Management to split the company and sell assets, saying the plan contained a number of structural flaws and inaccuracies, a Bloomberg report said.
